QLD Brisbane

Discussion in 'Where to Buy' started by 2jzzzz, 13th Oct, 2020.

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  1. 2jzzzz

    2jzzzz Active Member

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    HI everyone,

    I'm in a bit of an unusual situation. My workplace provides me with accommodation where I live (my home town), but I forego the allowance if I was to purchase here. My girlfriend owns a property, but is rented out and isn't suitable for the both of us to live in.

    I would like an IP and the only other place I'd see myself potentially ever living in is Brisbane/GC area. I am aiming to buy something that way which will be and could forever be an IP, but a very slight possibility of living in at some stage (if work was to ever move me or if we need to be down there with my GFs family).

    I've owned and sold in Melbourne and currently don't own any property.

    This thread is just for people to suggest some areas to target with a budget up to $400k ish. Ideally land over 500m2, public transport not a major concern, but no flooding and a min 3/1/1.

    Zillmere and north seems to be the landing spot for my budget.

    Thanks for any help, Sam
     
    Last edited: 13th Oct, 2020
  2. jaybean

    jaybean Well-Known Member

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    For that budget I think you'd need to be looking in Logan. I haven't been on the ground in Brisbane for a while so others might be able to chime in.
     
  3. Trainee

    Trainee Well-Known Member

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    if there is only a slight chance of moving to brisbane, who cares where you want to live? Make the money and buy there later.
     
  4. MelindaJennison

    MelindaJennison Brisbane Buyer's Agent & QPIA Business Member

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    You will struggle to buy a house on its own title for that budget in Zillmere.
    You will most likely have to move to areas in Greater Brisbane - Moreton Bay, Ipswich or Logan Shires.
    If there is only a small chance of living in the property in the future, I would focus on the investment fundamentals first and foremost and choose a property that will deliver the best returns for your personal needs.
     
  5. Mark

    Mark Well-Known Member

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    I bought a house in Zillmere for 365k in early 2015. The suburb has moved quite a bit since then. Its long term capital growth potential is great as it's close to the CBD and it's gentrifying. The median price of 3 bed houses is $480k with the median rent of $390. Moreton Bay possibly will offer better capital growth than Logan and Ipswich. If you buy in Logan, you need to be aware of the risk of investing in some suburbs as they can be rough.
     
  6. skater

    skater Well-Known Member

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    This!

    Things change. Don't buy something that suits what you think you will want in a PPOR in the future. Focus on a good investment.

    Many years ago, we bought a lovely home in a lovely area, because we knew we would need to move in around 18 months. So we bought something that had what we wanted for a PPOR. Nice pool, etc. When it was time to make the move, Hubby got a job that was too good to pass up, and the commute would be too far, so we ended up renting close to his new work.

    We never moved into our nice property, but that pool and the retaining wall were a source of annoyance, as the upkeep was very expensive.
     
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  7. Rich2011

    Rich2011 Well-Known Member

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    Shailer Park, Daisy Hill, Springwood and Rochedale South are great Logan suburbs and very popular with owner occs. The motorway is being widened (construction currently underway) down to Springwood with the busway also in for a major upgrade.
     
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  8. boganfromlogan

    boganfromlogan Well-Known Member

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    Hi Sam, i can imagine many ppl from the colder climes thinking that they want to invest in qld and maybe the investment should be good enough to live in. So i can't see anything wrong with your thinking.

    If you want some land and still be in the BCC area, i have recently noticed that Inala is throwing some older houses with land. From Melbourne you can afford to ignore the snooty local opinions, they don't count for much. Some ppl with very long memories think Inala is bad, but it seems to be affordable.

    Sometimes just outside the BCC area can be good as well, slightly above your mark is Rochedale South (450K?).

    I personally wouldn't want to live in the marginal suburbs north of Brisbane, but also wouldn't want to live in Coomera!!

    Would you ever consider Mt Cotton?

    Anyway, a good plan, why not invest in Bris, and why not buy something that you would want to live in down the track.

    Good luck!!
     
  9. Propin

    Propin Well-Known Member

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    I agree with the good Logan suburbs mentioned a couple of post above plus I’d add Algester in BCC also is good value currently. Southside would be more convenient to GC also.
     
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  10. Mark

    Mark Well-Known Member

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    I agree that these higher-end suburbs are great for home owners and will do well in terms of capital growth. The Springwood Master Plan will also make these suburbs go up in value. I tend to buy properties with both good capital growth and cash flow as investments. Earlier this year, I bought a $265k brick house on a 600m2 land in Logan and it was rented out for $320.
     
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  11. Rich2011

    Rich2011 Well-Known Member

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    Sounds great! Which suburb?
    Late last year I bought one for $202k and it was rented for $370 per week :) (after a 10k reno)
    Gotta love Logan.
     
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  12. Mark

    Mark Well-Known Member

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    Your purchase is amazing. How were you able to get it at this price? Is it an off the market deal?
     
    Last edited: 20th Oct, 2020
  13. Rich2011

    Rich2011 Well-Known Member

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    Yes.
     
  14. Mark

    Mark Well-Known Member

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    Good job. I bought mine at Marsden.
     
  15. Rich2011

    Rich2011 Well-Known Member

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  16. Nathan Prasad

    Nathan Prasad Well-Known Member Business Member

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    Hi,
    Unfortunately due to masses of demand 3 bed 1 baths in Zillmere are now selling in the $500's.
    Without having to go to far up you may need to consider the South Side.
    Slacks Creek provides good value at this stage and is right next to the M1 getting you directly into the city with 30min.
    The area is probably not the greatest but it's better than Woodridge. I have started to see renovated properties in this suburb go for over $400k. So if you buy and spend the money on a refurb you could potential build equity through the processes.
    If you would consider a townhouse I would then consider Carina. This suburb is starting to see a min boom. We have seen over 5% growth in the past 6 months. It's located within 10km of the Brisbane CBD and gets you into the city on bus within 30 min.
    The one thing you can expect is good yields at that price point. Have the renters pay down the debt over time and hopefully build some equity upfront. Using this strategy will put you in a position sooner to get a second property. Buy Refurbish Re-Value strategy.
     
  17. Lacrim

    Lacrim Well-Known Member

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    Last edited: 31st Oct, 2020
  18. Serveman

    Serveman Well-Known Member

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    A house on 500sq land for for around the low 400k I’m thinking maybe Alexandra Hills to the south east or Petrie to the North.
     
  19. Nathan Prasad

    Nathan Prasad Well-Known Member Business Member

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  20. Propin

    Propin Well-Known Member

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