QLD Capricorn Coast or Sunshine Coast

A long story but we are about to relocate to
Rockhampton as I am commencing a Physiotherapy degree as a mature age student. Husband has secured a job there as a teacher.
Ideally would be in the area for 5 years.
End goal in 5 years is to be closer to family on the Sunshine Coast (Comoran, cooroy, Pomona, eunuch do etc) and to purchase a property (likely a large block with my parents).
We have secured a rental in Rocky for now but my husband and I debate if we should buy on the Capricorn Coast (Yeppoon, Zilzie etc) now (mortgage cheaper than mortgage repayment on face value - not considering other costs of owning).

Other option is purchase on the Sunshine Coast in the next year as an investment property and continue renting in Rockhampton.

My concern is if we purchase in Rockhampton/Cap Coast (not where we want to be) we have the potential of not being financially able to purchase on the Sunshine Coast in a few years.

curious to hear some perspectives!

 

If the plan on the SC would be to purchase with your parents, then how would that work if you buy an IP there now?

 

Buy something on a large enough block that a second dwelling could be added.

 

Mathematically the rent-investing approach of buying in Sunshine Coast (investment) and renting in Rockhampton you are completely better off from a cashflow and balance sheet point of view (providing you by an investment grade property). If you brought in Rocky/Yeppoon and you’ve had no capital growth then what’s the point you’re probably going to be worse off due to entry and exit costs of buying.


At least you will have tax deductible debt with your investment. Also putting all your eggs in one basket for Rockhampton doesn’t come without risk. It’s a often stable market place however there can be quick price swings if certain industry grind to a halt (Mainly mining). You don’t want to be in a situation where you buy a PPR for 500k and 1-3years time it’s worth 430k. However it may even go in the other direction in this market very quickly…it can be volatile.

I’d certainly be leaning towards buying on the Sunshine Coast and renting in Rocky/Yeppoon.

 

I don’t know much about the Capricorn coast market but with the SC residential properties have gone insane yet there is still good deals to had with acreages. I’d get in quick and buy the acerage before they also skyrocket.

 

Capricorn Coast is generally more expensive than Rocky for the most part. I take it you will be studying around CQU around North Rocky? Rents have increased a fair bit in both locations recently, so depends on lifestyle preferences, noting that Rockhampton is about 40 minutes drive from Yeppoon.

I would consider Sunshine Coast to buy if you were looking to move there longer term. Even if you don't end up moving there, you will end up with something with likely better capital growth than in either Rocky or Yeppoon.

I made the mistake of buying in Rockhampton years ago, and recently got rid of the property I had there. I speak from experience - don't do it if you are looking for longer term capital growth.

 

I'm looking at something similiar.Investment property in Sunshine Coast with a goal to convert to PPOR down the line.

 

We are also looking to do the same. 6 year timeframe. Budget under $900k, looking to maximise CG (don't care too much where). Unfortunately, limited opportunities north of the river.