QLD Brisbane - Newbie $550k Budget

Discussion in 'Where to Buy' started by R.Brothers, 1st Dec, 2018.

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  1. R.Brothers

    R.Brothers Member

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    Hamilton 4006
    Hi all new here -

    Recently moved back to Brisbane after living in Melb for last few years, currently renting in Hamilton and now we wish to purchase for only $550k or under. We have been looking at some average cottages specifically in Northgate and Wavell Heights.
    After watching Melbournes market we are specifically after the land (400 to 600sq) to knock down rebuild or find something we could potentially restore and build equity in for growth and fund further investments.

    Our budget is 550k because we plan on trying to fund everything with cash and hard work.

    I used to live in Logan when younger and had a house in Loganholme I built 10 years ago and only just sold for the same price I bought it for (what a waste) so I dont want to repeat this.

    Would love some opinions on these suburbs or other potential suburbs that fit within my categories.

    Much appreciated,

    Rohan
     
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  2. David Shih

    David Shih Mortgage Broker Business Member

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    Hi Rohan, welcome to PC :)

    For that kind of budget, there'll be plenty of good advice on PC. Not sure where you work, but I would go as close to CBD as much as possible. My personal pick would be around Everton Park - the likes of Keperra, Stafford, Arana Hills, Ferny Hills. Decent family-oriented suburbs with good infrastructure and government planned to spend more around Everton Park to improve transport around the area so should be good for long term investment.

    In fact if you're thinking about knock down rebuild this one may suit what you are looking for:
    20 Barber Street, Keperra, Qld 4054

    Cheers,
    David
     
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  3. R.Brothers

    R.Brothers Member

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    That house is a good find! and exactly the kind of home we are looking for. Have considered Keperra but as stated in some of your previous posts it seems to be lower socio economic area which was a concern for me.
    We both work in the city and on around 260k combined annually so this is a project for us to have equity to buy more over the next few years if we knuckle down.
    Essentially we want the block size to build/restore or duplex subject to upcoming rezoning in QLD.
     
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  4. iloveqld

    iloveqld Well-Known Member

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    Welcome Rohan.

    Hope you get a good one as I still think now is a good timing. As near to the city as possible is the term you will find most in here, and I believe it has many successful cases behind it.
     
  5. kcbworth

    kcbworth Well-Known Member

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    Mitchelton
     
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  6. Jana

    Jana Well-Known Member

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    David, why Evertonhills is missing in your list? Any specific reason? That looks nice family oriented suburb, but price may be little higher than Arana Hills area.
     
  7. David Shih

    David Shih Mortgage Broker Business Member

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    No specific reason - Everton Hill is also good & worth considering. I was just typing off couple of suburb names around Everton Park and it must have slipped my mind at that stage.

    Cheers,
    David
     
  8. eletronic_exp0430

    eletronic_exp0430 Well-Known Member

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    North Brisbane!!!

    I got awesome valuations done just before I flew out on holidays 4-5 weeks ago. Valuations came back awesome and much more than I had expected. These are REAL valuations with someone going out to the house.
     
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  9. gman65

    gman65 Well-Known Member

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    Anything with walking to train line (without hearing train line) will be better if you ask me.. This excludes Everton Park/Hills and a lot of Arana Hills.

    Samford road will only get worse in coming years - not sure there is much plan to upgrade things either -- Category: | The Courier Mail
     
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  10. Angel

    Angel Well-Known Member

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    Remind us again - which suburbs?
     
  11. willair

    willair Well-Known Member Premium Member

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    Very easy to buy ,but once the for sale sign goes up it's always very different ,and it's been awhile in Brisbane where property prices scream yet another record price just another red flag as prices cannot defy gravity forever..
     
  12. Codie

    Codie Well-Known Member

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    What do you call walking distance? im in Everton park and it takes me 10mins walk to the nearest train station in mitchelton, partner also uses it every day to get to south bank.
     
  13. gman65

    gman65 Well-Known Member

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    10-15mins would be reasonable to me.. but looks like only houses at the very southernmost end of Everton Park are within that distance.
     
  14. R.Brothers

    R.Brothers Member

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    What are peoples thoughts on Banyo and Northgate? there seems to be a bit of development there but the suburbs brought down by the hideous industrial buildings.

    I inspected this yesterday and considered it for a knockdown rebuild however I think it is still overpriced in the current market, would love opinions on future growth.

    91 Elliott Road, Banyo, Qld 4014

    We have a simple strategy in mind - build up equity to rent at positively geared and move to next home.
     
  15. Smasher

    Smasher Well-Known Member

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    Imo the better side of Banyo is on the Eastern side of the train station. It’s mostly up on the hill & therefore catches the sea breezes. The other side is more flat and is a sweatbox in summer. Might be ok up where you’re looking though.... Go for a drive and check it out!
     
  16. Chucky

    Chucky New Member

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    We have two properties in the Virginia area, between Toombul Rd and Banyo. Lots of new builds going on in the area and increases over the past 5 years have been good. The area is great with good local schools, close to Gateway and therefore access to the airport and both coasts.

    The Banyo Northgate Neighbourhood plan (Banyo-Northgate Neighbourhood Plan | Brisbane City Council) sets out some significant redevelopement and rezoning in the next few years which in my opinion will continue to drive growth in the area. Additionally, the site on Blitzinger Rd will provide significant new housing stock down the track once released from Energex as well as new parklands.

    That's my two cents from somewhere that currently lives and invests in the area. Hope it helps!
     
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  17. R.Brothers

    R.Brothers Member

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    What exactly is that neighborhood plan saying? I have read it a few times and all it says to me is that some homes are now getting character residential protection and a couple of blocks can be subdivided......
     

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