Hi, I am looking to purchase another IP and would like your thoughts on Buderim. Anyone owns an IP there or lives there? Any areas to avoid? Streets to target more specifically? Any thoughts on growth potential and rental yields in the current market? Anyone thinks there are any better options for a budget no higher than $550K? Thanks a million for your help, feedback and opinions Lily
Hi @Lilyau What made you select this area? What is the supply of properties on sale like? What is the supply of rentals like? What type of property are you looking to purchase?
Buderim is a very highly sought after area, development is steady. There are plans for a large new resort which should be the 'bees knees'. Sunshine Coast to get new 5-star Buderim Resort - Visit Sunshine Coast .
Hi Lily, I live in Buderim so hopefully can provide some help. 1. Growth and rent potential - I don't see it going crazy, more of a consistent slow burn over the next decade assuming no major calamities. There are quite a few projects happening / proposed like the Brisbane fast train, airport expansion and maroochydore cbd upgrade that are major positives. However the salaries here aren't as good as Melbourne or Sydney so that naturally caps the price potential. The nearby burbs on the beaches like minyama tend to rise faster, but also get hammered if there are floods. Check the flood maps before buying anything on the coast. 2. Areas - I don't really know of any dodgy areas. Even the housing commission flats are generally very nicely maintained and have good people in them. It's not like Melbourne where there are defined ghetto areas. It's too neighbourly here. Buderim is a massive suburb though, with on the mountain and on the flats. Get on the mountain if you can, it's more temperate, better soil for your garden and has a better feel. More expensive though. 3. Try for the holy grail of "on top" of the mountain, flat north facing yard, single level and walking distance to buderim cbd (buderim mountain school is a good centrepoint). Don't just go by distance, check your contour maps. Good luck
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