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QLD Chermside but over 55s?

Discussion in 'Where to Buy' started by Arashi87, 28th Jun, 2015.

  1. Arashi87

    Arashi87 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    101
    Location:
    Sydney
    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
     
  2. Beryl Dwyer

    Beryl Dwyer New Member

    Joined:
    28th Jun, 2015
    Posts:
    2
    Location:
    Queensland
    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.
     
  3. fairy

    fairy Active Member

    Joined:
    24th Jun, 2015
    Posts:
    42
    Location:
    Canberra
    Sounds like 1 bedder ....

    Consider this instead
    http://www.realestate.com.au/property-house-qld-chermside-119879941
     
  4. Arashi87

    Arashi87 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    101
    Location:
    Sydney
    Thanks for the info and advice guys!
     
  5. Arashi87

    Arashi87 Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    101
    Location:
    Sydney
    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