SA Adelaide suburbs

Thanks for the advice DT. I'll be sure to look into some more and once I have a suitable investment will make contact with you re property management.

 

No worries, thanks

 

Melrose Park would be my pick @John Ferguson.I bought my 1st house there in 1989, full of old people back then,my kids still live in that house,they reckon Winston Ave is "Hipster" nowadays.Must of happened when i moved out (; Close to city, good public transport etc.

 

I have never been to Adelaide. So I think I am going to have to put Adelaide on the to visit list this year and check out the suburbs. I've heard there are beautiful character Homes scattered throughout Adelaide city. My kind of thing

 

Good move mate

 

All,

I am looking to purchase property as PPOR for 2-3 years and then turn it into investment. My budget is 550k. Currently I am looking at 3 bed properties in Fulham Gardens, Glengowrie, Morephettville, Hove as first preference.

Any feedback on above suburbs? Any thing to take care of converting PPOR to investment property in 2-3 yrs?

 

Don't overspend on Reno's! My current PPOR which will likely become an IP when I move for work has had too much money poured into it for 'things that we prefer' or just changing for the sake of changing. Looking back we could have reduced the cost of all the work we have done by a third and it would probably have same rent/value as an IP.

As for the suburbs, not really my area of expertise I'm sure others will have more idea but I imagine those areas all have strong owner occupier appeal.

 

Thanks for your feedback. I will keep that in mind.

 

Not me.... I feel so left out

 

Glengowrie, Fulham Gardens, Hove are much nicer than Morphettville, but of course with higher price tag. You can still find some 3 Bedroom property around 550K.

Personally I will pick Glengowrie, between Glenelg and Marion Shopping Centre, not far from city. This suburb has a lot to offer. Most people live there are owner occupier. The old house are being renovated or being built into nice two storey new dwellings.

 

Lots of character within ADELAIDE city, I would not recommend the city as an investment choice unless you were doing a quick flip.
10km around the city in either direction would give you good capital growth, plus some of the suburbs you've already mentioned.

What's got your attention do far?

 

I Also second Seacliff Park. Close to the train, Marion and the beach (one of nicest metro beaches). Also good public transport to Finders uni. Decent primary schools and Seaview High is improving a lot in reputation.

 

You are always included

 

Hi, I'm after some views on a purchase of a property that my mother-in-law will live in that will tick the boxes for a good IP. Budget is preferably around $400k but could stretch to high $400k.
The area we are looking at to be close to family is around Anzac Hwy / Marion Rd maybe South Rd as needs to be on bus/tram route (tram may be better as also can get to Glenelg as well as city) plus close to supermarket - cnr Marion/Anzac, along Anzac (Kurrulta Park shopping centre) Marion Rd (Foodland South Plympton).
My perceived issue is these areas seem to have many units/homettes so over supply would limit the capital growth? Although maybe pockets within suburbs are suitable?
I was thinking a 2 or 3 br homette but may be better off with a small home if they exist in my price range?
Any feedback/advice would be appreciated.

 

I live and work in the areas you described (and grew up in Glenelg and Mile End).
Would an older house on larger subdividable block suit? You can add value through renovation and has development potential for future value.
I know those areas well - hundreds of rentals there too.

 

Id first look at what you can buy in that area within your budget.

Id also consider what the property will be used for.. ie if your mother in law is going to live in it for many years, is a large block suitable or would she be better off with a smaller newer property.

Have you got the budget to subdivide and build - perhaps retain older house and build new house for mil on the back. This would take a year or so... whats your time frame etc.

Youve got competing criteria.. what might be good for the mil might not be good as an investment. Decide which is more important or find something in the middle.

 

Thanks for response, I think not in this scenario. A smaller manageable block so any value add will need to be in minor renovation / updating of facilities.

 

Thanks also for reply.
I'm thinking compromise. Smaller manageable property, not subdivide and build. Time wise not critical now but within 10 months when existing lease expires.
I'm mindful of the current headlines and warnings over property prices, and can afford to wait, however if the right property came along I'd be interested.
In terms of right property perhaps narrow down to:
Smaller manageable block
2 or 3 br home
Do you think I will find something around low $400k in the suburbs I nominated that will provide some capital growth?
Or will I need to look at homettes in small groups?

 

I had a quick look and there is definitely stuff in that price range.

Id think about what your primary purpose is and find something to suit that purpose.

Personally I wouldnt mix investing and MIL. Rents are so cheap on Adelaide I would rent something for MIL and buy an investment where the numbers stacked up on its own... or i would build granny flat for her in backyard.

 

Hi All,

My friend today won at auction. Property details:
23 Bice Street Marleston SA 5033 - House for Sale #125010894 - realestate.com.au

23 Bice Street, Marleston

Purchase price: 590,000
Land: 775 sqm

My friend is based in Adelaide however his business office is in Melbourne (has 2 offices, one in Mel and other in Adelaide) and he has 2 lands coming up for settlement in Melbourne

He has offered me to go in with him on this purchase.

If I agree, we go 50/50, else he settles on his own.

Since I am clueless about Adelaide, I am looking for some experts to comment.

Plan is to hold, rent it out, apply for plans and permits for atleast 3 townhouses and then sell in the market for a profit

Pros and cons of the suburb?
Pros and cons of the purchase price:? Do you think its fair market price or above market
Pros and cons of the Adelaide market


I am doing my own research, however any comments or direction would be appreciated

Regards,
TV