QLD Buying 400 Vs 600Sqm In Brisbane

Hi All,

Wondering what your thought is on buying a 400 SQM block close to CBD i.e. Morningside vs going out a bit to suburbs like Carina, Mount Gravatt, Holland Park/HPW for a 600sqm block? or older house in Tarragindi on a 600sqm (if i could score one without 4m drop to the back of the property)?

Or would you buy in Michealton, Carindale?

FYI budget of High 600 to low 700.

 

Two of my guiding principles when I am investing in property are:

1. Land appreciates, buildings depreciate. Hence, buy as much land as one can afford.

2. There is 3 x more land in the area from 5 to 10kms from the CBD than 0 to 5 kms. Hence, buy as close to the CBD as one can afford.

 

I'd choose the 400sqm block closer to the CBD, especially if it was in a great suburb with add value potential and possible views if developed into a new house or add a level. Also depends on price.

If your 600sqm lot which is a little further from the CBD has a great aspect and at a good price, it is worth considering. For me Brisbane is all about:

1. Location
2. Land content
3. Add value .

 

Currently Looking at Carindale on a 700sqm block brick house needing renovation but strong bones vs queenslanders on a 400sqm blacks in morningside etc.

Thoughts please?

 

Buy the best deal you can find in either. Both will do well I'd say. Under market value is the key, IF you can find it in those suburbs.