Hey fellows, Ive read some of the posts back in 2009 on ss about over 55 units... And today i came across one at Chermside $150k, $260pw , council strata water approx $4800pa . Now i know loan will not be 80% or more and i know selling it will be an issue. What i don't know: Say if there will be growth potential in Chermside later, will growth% affect sepp 55 equally? Hows rental market looking in Chermside? Will i get high vacancy for sepp at that particular suburb? Cheers Alan
Hi Allan, You need cash as Banks won't loan on over 50's Park homes. You don't actually own any real estate as you don't own the land. It is a chattel. I know am in one of these Parks and on Queensland committee and they are not a viable investment. The normal Real Estate growth does not effect these Parks - you will have a depreciating asset. Look at www.arpq.org.au. Difficult to sell also.
Sounds like 1 bedder .... Consider this instead http://www.realestate.com.au/property-house-qld-chermside-119879941
By the way the agent said theyre under regulations of BCCM act, exactly the same with all the nomal units/apartment and townhouses. Dont know if that mean anything lol
