QLD Chermside Qld observations

Yep. Hunt for the best streets and then pounce quick on a good deal. It may not stack up peeeerfectly atm but darn close. Another option is if ground level has good bones then do a complete reno and add a level . A good option to land bank if it doesn't stack up just yet. Needs to fit the investors risk profile of course.

I'd be doing letterbox drops and being proactive targeting the best agents in the area to try and get one before its listed. I've had good success with this in the past.

Man there is never enough capital for the opportunities available everywhere.

 

@HUGH72 Look at this one on a 410sqm block in Nudah. Get me drift

70 Huet Street, Nundah, Qld 4012 - Property Details

 

Definitely.
I’m not familiar with land and end Vals in Nudah compared in the inner south eastern suburbs but it seems OO will pay a premium for the finished product.

 

This is happening more and more . Its a certain demographic wanting the stock and willing to pay. What's especially interesting is this seems to be happening ever so slightly further from the cbd . It's creeping out more and more meaning many potential opportunities.

 

Yes,this was mentioned in another thread, long way out for a 400m block new build.
31 Mascot Street Upper Mount Gravatt Qld 4122 - House for Sale #127338654 - realestate.com.au

 

Yes I was the one who posted it Eagerly waiting to see what it sells for .

 

Busy road though

 

Yes OOs like shiny things.
Can buy 2 unrenovated post-wars walking distance to the mall for that.

 

I know aesthetics is subjective - but there is a general consensus - and that thing is going to date really really badly. And that is difficult to fix easily.

 

They are waiting for that intersection to go underground. Maybe. one day. There's been a few calls. There's loads of units built in the last 5 years with balconies a couple of metres from Lutwyche Rd/Gympie Road. Even tenants don't like that sort of thing. Not sure why they even bother building the balcony.

 

That's the buyers future problem, not the sellers

 

Not my taste. It interested me mainly because I know that particular street quite well.

 

Oh yes I understand the reason for your post. It just bought up a point I had been wanting to make for a while.
This house is not unique with respect to being considered quite ugly in a few years time. Many new builds run that risk. However there are some that are built in more of a traditional Hamptons or Queenslander or bungalow style but are still luxurious and modern and I think those are relatively future proof.

 

I don't like that build I agree, but I must admit I love modern/contemporary mixed with some industrial elements.

 

I'll admit, these modern homes look nice but I've noticed that 10 or 15 years later you look at the same house and think "What was I thinking ?!".

For all their flaws I think post war homes can be quite beautiful. There is the asbestos to deal with and a lot are run down, but when they're renovated ... properly they can beautiful. If you can afford to go all out and do a quality raise and build under they are stunning. At least me thinks so.

 

Maybe its just me but i hate it when a garage takes up the whole front of a house except the front door.

Also long thin modern homes all look straight at a fence from the windows. Depressing.

 

Currently sitting in a unit in Chermside that was bought OTP. Val at settlement was 31k above contract price and val 6 months after that was 61k above contract price so it's not all doom and gloom in Chermside. You can find good buys in any suburb.

The townhouses that are comparable in price to units are generally 8+ years old and not as close to the amenity of Chermside so this is the reason for the closeness in price.

 

What would be your guess the building cost of this Buna Street example ?Land value would be about $400K I would think

 

Hard to tell without looking at more details but I would say around 500k. Bathrooms/ensuite not much money spent.

 

No indication of approximate floor area, 4 bathrooms, 400k plus?