ACT Canberra

yeah Ngunnawal is on my list too.
what do you think about the newly release west Belconnen suburb Ginninderry’s estate.
they're open for registration for their 2nd phase now, looking at their land price they're not as crazy as Throsby or Taylor, but i think is bit far off....

keen to hear your view.

 

I get that you like new houses but it doesn't seem like a good match with your circumstances. It's not like Melbourne or Sydney where you buy a house in a new estate further out and save money. You will pay more to live in an area further out with less infrastructure and amenities

 

Yep i agree with Cimbom, i wouldn't go further out that way unless i absolutely had to and prices won't be that much cheaper as land is so expensive in Canberra. I would look at an established suburb closer in and if the house needs upgrading in the future then do a small reno like a new kitchen or bathroom

 

hi Guys, so went and chat with some builder onsite at Throsby, they offering the cheapest house and land package on a 250 sqm block of land, price range starting from 540K - 575K, my question will 250 sqm block value growth over next 2 years and build some equity on it.

generally your value growth based upon the size of the land, but this 250 sqm hardly has any land on it.

what do you think? is it worth getting it?

 

reason I'm going with new houses is because to make use of the 7K FHOG and stamp duty concession.

but I'm flexible with established houses too so long they meet my criteria.

 

Hey Billa. Who is the builder? Make sure you check them out by doing some searches. There have been a few go bust in Canberra the past few years. 250m2 is not much land. I live in Franklin which is a neighbouring suburb. Throsby location is good, it's about 20 mins to the city and 15 to the airport, and the main road there (horse park drive) is being upgraded right now. Good schools nearby and you are less the 5 mins to the Gungahlin town centre which has plenty of new infrastructure being built right now. Light rail will be a 2 min drive or you could ride a bike there in about 7-8 mins from Throsby to the nearest stop. It will be completed late 2018. Be careful buying off the plan, make sure the builder is not overcharging and that similar houses in neighbouring suburbs such as Harrison and Franklin have sold for similar prices and do due diligence on the builder.

 

hi Todd, thanks for you reply.

Correction i talked to agent that sold the property for the builders, it does sound like Throsby is close to all amenities around it.

Instyle - Throsby Life - 3 & 4 Bedroom House & Land Packages Real Estate For Sale (try to fit double garage and 2 living)

Capital Partner and real Estate - 10 Galaxias Street, Throsby Real Estate For Sale

I'm not very sure if these houses will get ample of space after paying for so much.

 

67 Limestone Avenue, Braddon Real Estate For Sale

Very interested to see what this sells at? Anyone wants to do a JV?

Braddon would be a great place to invest... thats if you can get in! Very tightly held. I managed to get myself an OTP TH

 

Braddon is a great spot - I've spent waaaaaaay too much money at bentspoke over the last few years.

 

The 315m2 blocks at Throsby sold for $340k at the land release. So that puts your 250m2 block at a value of about 270,000. So builder is charging 250-300k for a brand new house of about 150m2. That's probably about right but negotiate hard, everything is negotiable even new builds. Also i would stand on your block with a compass and look at the design on the house and see if there are some north facing living areas. Hugely valuable in the 4 months of freezing cold in this city and you will save on heating costs if you can sit behind glass in the sun.

 

is that turn key price? or will you end up spending 50k more on light fittings and flooring and whatever else? i.e just make sure you know what you are getting.

as for capital value :/ bigger land is probably better..but admittedly I cant understand nor predict the market out there whatsoever

 

Wonder if the freezing cold is affecting sales. -4 degrees!

 

This morning was much more pleasant on my ride to work but I imagine anyone shopping for a house or apartment at this stage would (should?) really be paying attention to energy ratings.

A modern house or apartment with a six or seven star energy rating can be incredibly comfortable during winter. I cringe when I read the advertisements for house with 0 or 0.5 stars.

 

We bought our current ppor in deep Canberra winter 2 years ago. Best time to go on walkthroughs to work out whether homes here are warm or not. Not everyone runs their heating for open houses (believe it or not) so you can gauge how cold it will be to live there.

The star rating here is BS. We were renting a brand new small 4bedroom 6star house in Bonner and it was freezing and expensive to heat. We now live in a huge 4 bedroom 70's 1star that is warm and surprisingly much cheaper to heat and cool.

 

We purchased our house in winter too and right before the federal election so saved a bit

 

So finally after months of looking and asking silly questions on this forum we have finally had our offer accepted for a smaaaallllll block and 2 bedrooms house. Thank you for all the people that have helped. Now on the way to looking for am accountant, property manager...etc. Have got a conveyancer and broker. Accountant I will also make some enquiries and will be looking at either ebm or ts for insurance. One thing that I can seem to make a concrete decision on is pm, would anyone recommend one to use (or avoid)? Just pure nevousiness as a first timer i think

 

A big congrats!

@Paul@PFI is a great accountant. Not in Canberra - but shouldn't matter. Distance isn't an issue with these sort of services provided you can use a phone and type an email

Cheers

Jamie

 

Thank you kindly @Jamie Moore, greatly appreciated. Any property manager you can recommend?

 

Nope - unfortunately not at present :-(

Cheers

Jamie

 

No worries thanks so much though