QLD Brisbane Investment - 430K to 450K budget for investment

Discussion in 'Where to Buy' started by simplevalues, 4th Nov, 2020.

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Which suburb to buy

  1. Strathpine

    5 vote(s)
    19.2%
  2. Keperra

    13 vote(s)
    50.0%
  3. Chermisde

    8 vote(s)
    30.8%
  1. simplevalues

    simplevalues Well-Known Member

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    Dear friends,
    My partner and I are from Sydney and we are looking to buy our first investment property in Brisbane.
    Our criteria are as below, I would like to hear suggestions on which suburb we should be looking based on these:
    1. Looking to buy an established house (about 10 to 15 years old or maybe max 20 years) on a 500 to 600m2 block of land in 430 to 450K budget...can stretch up to 470 max for a good one.
    2. Capital growth is the main consideration with decent or ok rental yield, main thing is property should be in an area where it is easy to rent out.
    3. Would prefer owner occupier dominant suburb
    4. Decent school catchment (especially primary)

    Based on the above criteria and having done some research my partner and I think Strathpine , Keperra or Chermside West would be good. My preference is for a suburb within 12 kms to CBD but not sure whether our budget would allow for that. We are looking to buy in the next 3 to 6 months so not in a hurry.

    Kindly pour in your suggestions on the above two suburbs or any others which will fit in the above criteria:) Also please mention which are the good pockets in the above suburbs or any other which you think is a good option. My prefernce is slightly towards Strathpine so keen to hear from investors who have bought here

    Note - Please do not suggest apartments since hubby is allergic to them and we already have a townhouse in Sydney which was a slight mistake in a hurry but paying off ok so no regrets.
     
  2. Mulianto

    Mulianto ~~

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    I have an IP in Chermside but I think Keperra is better due to train line. Yea yea they all said they all drive. But tell me this again in 10-20 years.
     
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  3. simplevalues

    simplevalues Well-Known Member

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    How are the schools in Chermside?Also do you think i can find anything in the 450K budget in Chermside?
     
  4. simplevalues

    simplevalues Well-Known Member

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    Also same question for Keperra..which pocket do you recommend if you do know the area to an extent?
     
  5. Mulianto

    Mulianto ~~

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    My tenant kids usually go to Craigslea. Heard it’s quite good. I think 450 k will be too tough for a decent house in Chermside. Try to get one near potential future rezoning (near Westfield), but I think you will need 600k at least, unless it is very worn down house.
     
  6. Mulianto

    Mulianto ~~

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    Honestly I don’t live in Brisbane and I’m not very familiar which pocket of Keperra is good. A BA would come in handy for you. But I heard it is as good as Mitchelton, comfy village feel.

    I have an IP in Mitchelton. Anything north of Samford Rd I feel is better for investment. Nearer to the train station, Brookside, mostly flat land. The suburb is gentrifying at the moment. Have a good tenant currently, defense personals from the army barracks nearby, clean and never late in payment. Then again, I think you need 550 k at least for Mitchy.
     
    Last edited: 4th Nov, 2020
  7. Codie

    Codie Well-Known Member

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    #1 pick is Keperra, won’t get anything for $450k unless it needs work and will be on the main road, Hence cheap and less desirable. If your looking here around the $5 I’d also look at Arana hills and Everton hills. Difficult at your budget.

    #2. Chermside Same again won’t get anything for $450k that doesn’t need work or on a busy road/has something undesirable about it.

    #3. Strathpine fits your budget better. Don’t have much in the way of comment about the suburb, too far north for my liking so haven’t researched it.

    Also consider coopers plains- High 4s / early 5s entry level. Boarders Sunnybank hills, close to mount G. 12-14km to CBD
     
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  8. simplevalues

    simplevalues Well-Known Member

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    Thanks ...very helpful suggestions...let me have a look into the suburbs you mentioned a bit more...you are right ...Strathpine only seems to fit our budget at this stage...how are schools in strathpine? Sorry if you don’t have much idea on this but keen to know hence checking.
     
  9. MelindaJennison

    MelindaJennison Brisbane Buyer's Agent & QPIA Business Member

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    Although Coopers Plains does not fit your profile of Owner Occupier dominant suburb ... close to 50% are renters ...
    Keperra and Chermside West will be outside of your budget for anything investment grade.
    Can you quantify what "decent or ok rental yield" actually is?
    You will struggle to find anything within your budget on 500-600m2 block of land that is less than 20 years old in the suburbs you are considering. All of these locations are more established than this and the properties will be a lot older (even Strathpine which is the furthest out from the CBD)
     
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  10. simplevalues

    simplevalues Well-Known Member

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    Hi Melinda,
    Thanks for coming back.
    Decent rental yield is majorly renting quickly for me, im not too worried about cash flow positive at this stage but can be a bit negative not too much:)
    we are ok to look for houses even older than 20 hours in Strathpine, just that we need a big block of land and can settle for a old 3 bed house which would need a little touch up reno.
    I find only Strathpine suiting our budget at this stage...what are your thoughts on Mango hill and North Lakes?
     
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  11. simplevalues

    simplevalues Well-Known Member

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    Just spoke to the bank and our budget actually allows for upto 600K. Do you think Keperra is worth considering even if try for something mid 500s?
     
  12. simplevalues

    simplevalues Well-Known Member

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    Hi @Codie our budget actually allows upto 600K when I checked with the bank. Do you think keperra will be a better choice in the mid 500s range?
     
  13. luckyone

    luckyone Well-Known Member

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    Yes, Keperra is very sought after by owner occupiers. A much nicer suburb than Strathpine.

    Strathpine Shopping Centre is getting renovated at the moment so that may help its appeal somewhat. It’s also got a train line (as does keperra) which is handy too
     
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  14. Codie

    Codie Well-Known Member

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    This is just personal opinion so please continue to deep dive or speak with someone that constantly looks at the data like @MelindaJennison

    But if you can afford $600k it would open up much better owner occupied suburbs. Everton park/hills, Arana hills, Maybe entry level Mitchelton or Stafford/heights but it’s been awhile since I have looked. Keperra certainly is not a bad option it’s just IMO not the best option at $600k budget.
     
  15. simplevalues

    simplevalues Well-Known Member

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    Thank you...sure will do.
     
  16. MelindaJennison

    MelindaJennison Brisbane Buyer's Agent & QPIA Business Member

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    I agree that $600K will open up more options for you to consider. Depending on your circumstances, some banks may require a minimum rental yield if it is an investment purchase. If this is the case, the location selection might also be dependent also on the requirement for a certain return and not just the buy in price. There is always a lot to consider when selecting a location for a high performing investment!
     
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  17. simplevalues

    simplevalues Well-Known Member

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    Hi Melinda ,

    I will call you sometime to discuss your services and how you can help us. We will be looking next year but will be good to have a bit of understanding on the above listed suburbs.

    Thanks.
     
  18. ndpjai

    ndpjai Well-Known Member

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    As others said aim for as close to CBD but in brisbane ideally prefer 600sqm block of land. Keperra is possible but not close to station or in a good location. Mitchelton & chermside no way. Pls do not buy in main roads.

    Try oxley (IMO undervalued suburb) closer to corinda/sherwood $1m suburbs closer to brisbane river including train station or even centenary suburbs say jamboree heights, mount ommaney, jindalee etc.

    Good luck as brisbane market is heating up based on my conversations with RE people are offering $20K more than advertised price.
     
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  19. ndpjai

    ndpjai Well-Known Member

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    Everton Hills 600sqm quality block, crossed $500K even $525K IMO
     
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  20. simplevalues

    simplevalues Well-Known Member

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    Thank you ...all very helpful suggestions....
    After doing a bit of google research I also liked the feel of Ferny Hills. What is the feel about this suburb? I am also looking for an option which has a good high school maybe since after couple of years we may want to just move there...so looking for an equivalent of castle hill or Baulkham hills in sydneysomehow liked ferny hills and Arana hills too.