Hi All, I am just after your opinions. I have been avoiding weatherboard houses as IPs as I have been told they need to be painted every 5 years. It seems to me after looking at various links sent to IPs on here that the outer material does not seem to be a factor for many investors. I understand that the figures should determine the sale but having to paint the entire house would surely eat into the profits!
I usually discard the weatherboard homes that come up in my searches and only own brick homes so far. In saying that, if that was the only option a target area had then I'd buy that. Or if i was planning to demolish and develop then obviously it wouldn't matter.
I've got the same approach as DT - generally prefer brick homes but if a weatherboard comes up and all other boxes are ticked then I wouldn't have an issue with it. Cheers Jamie
Thanks for the replies I guess if the CG is good then it outweighs the maintenance costs is that what I am hearing? As a new investor I may not be looking at the bigger picture as my gains thus far have not been huge.
^ I would say even longer, but maybe I have a higher aesthetic tolerance level than some. Edit: Which could also be called "lower standards".
I prefer brick but I buy weather board also. Problem with older brick houses is they don't have expansion joints every few meters like today's houses do so they are more prone to cracking. Much easier to freshen up and add character to a weather board home too.
Not really no but mine are all single level boxes 70m2-120m2. You would probably be looking at a few thousand dollars every 15-20 years. It's not a bad thing though because as I said you can paint them in the latest colours etc. Keeps them looking funky. Go look at brick houses even 20-30 years old compared to a modernised 50 year old weather board home they look very bland. You can render a brick houses but it is costly and then you have to deal with cracking. I wouldn't be keen on big double storey weather board ones though, that could get costly.
What you want to avoid is timber... If you're looking to buy close into the action in Brisbane that may be a problem as nearly everything is timber!