QLD Coomera vs Waterford vs Crestmead

Discussion in 'Where to Buy' started by Dbuck234, 25th Jun, 2021.

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  1. Dbuck234

    Dbuck234 Well-Known Member

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    Thoughts on buying an IP in one of these suburbs- Coomera, Waterford, Crestmead. Budget 550k. From the pov of steady rental flow and future growth, what have your experiences been like? Thanks for the help
     
  2. boganfromlogan

    boganfromlogan Well-Known Member

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    Hi DBuck,

    Would be interested to know what got u to those three suburbs?

    I am not sure about Coomera, most are newish estates. I do not think it will outperform and Gold Coast has had an enormous boom. I get that it will increase with everything else but I think u would have to buy well.

    Crestmead still represents value although rise in prices already under way.

    Despite living right near Waterford for years I am not too sure about that either! If u go for Waterford maybe older/cheaper with good land component. Check flood data.

    Why not meadowbrook?
     
  3. Rich2011

    Rich2011 Well-Known Member

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    Me too.

    Crestmead and Waterford are okay but with a budget if 550k there are a lot better options in Brisbane and the Gold Coast unless you are buying bigger land for development.

    PM me if you'd like suggestions on where you could look.
     
    Last edited: 25th Jun, 2021
  4. Dbuck234

    Dbuck234 Well-Known Member

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    S
    Correction- 450k
     
  5. Dbuck234

    Dbuck234 Well-Known Member

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    Correction, budget is 450k
     
  6. Dbuck234

    Dbuck234 Well-Known Member

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    Correction, budget is 450k
     
  7. boganfromlogan

    boganfromlogan Well-Known Member

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    Well that makes more sense
     
  8. Dbuck234

    Dbuck234 Well-Known Member

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    There are streets in Crestmead that look pretty ordinary and some that look very well maintained with lovely front yards. I am seeing all this on google maps because I'm based in Sydney and can't travel due to covid restrictions. Since you're local to the area, is the hype around Marsden state high correct? The ratings dont seem to justify the hype, but I've found articles online saying its the best school in the country etc. Your thoughts?
     
  9. boganfromlogan

    boganfromlogan Well-Known Member

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    Well I am generally very positive about Logan. Great dump and excellent sewerage system. Rates are lower than Brisbane and there are some good schools.

    I don't have any first hand knowledge of schools except that I know excellent teachers that work in Logan and I wouldn't be surprised to hear schools with improved reputations.

    Marsden is a largish school. That is all I know.
     
  10. Rich2011

    Rich2011 Well-Known Member

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    450k there are better options than Crestmead and Marsden (nothing wrong with them at all though)
     
  11. boganfromlogan

    boganfromlogan Well-Known Member

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    Why not check out the following suburbs:

    Slacks Creek ( be selective );
    Boronia Heights;
    Meadowbrook (550k);
    Crestmead;
    Rochedale South ( if u can stretch budget ).

    Consider large blocks corner blocks or good access. Add value.
     
  12. Dbuck234

    Dbuck234 Well-Known Member

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    I was looking at slacks creek but a couple of real estate agents said that majority of the renters in the area would be from low socio economic backgrounds and hence steady rentals can be a problem. I'm still looking at the area though
     
  13. Dbuck234

    Dbuck234 Well-Known Member

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    How big a block is 'big' in the area?
     
  14. boganfromlogan

    boganfromlogan Well-Known Member

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    800m plus is good. Corner is great or wide frontage.

    Plenty of areas have 600 and 700m blocks as well.

    Adding value via build in carport under main, or granny flat etc is a good idea.

    Be selective in any area as suburbs can be quite large and some pockets better than others.

    Elephant in the room is which areas haven't boomed? They might be lower socio economic. BTW Slacks Creek boomed already.
     
  15. Dbuck234

    Dbuck234 Well-Known Member

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    Do you agree with the agent in terms of potential issues with tenancy?

    How do I go about doing this without the local area knowledge?
     
  16. boganfromlogan

    boganfromlogan Well-Known Member

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    My experience is that money from poorer ppl is the same as less poor and even rich. I am hearing all sorts of judgements from agents that don't ring true. My own opinion.

    I have great tenants in low socio-economic area. They took care of me in the pandemic and prioritised rent. But I am just an individual.

    I think becoming familiar with areas can come from the tools u use already and try to get confirmation. A friend in Sydney alerted me to a great suburb recently that I wasn't aware of ( too focussed on my area of interest ).

    Bricks and mortar assessments are a good start. Avoid judging based on photos unless u really want a photogenic house and furniture.

    Sometimes it is as easy as looking for elevated spots. Other times transport .....
     
  17. Esma

    Esma Well-Known Member

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    Do you think Rochdale South is good buy for 550 to 650 mark
     
  18. boganfromlogan

    boganfromlogan Well-Known Member

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    Yes Rochedale South is good. Because it has already boomed I think looking for something u can add value to is the best.

    Not too long ago there were houses in 400s, but they have risen very quickly.

    Corner or largish block would be good.

    Good luck!!
     
  19. datto

    datto Well-Known Member

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    Coomera looks nice.
     
  20. commencing_my_journey21

    commencing_my_journey21 Active Member

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    Hi, I just came across this thread but back in June you stated there are better areas to buy in than Marsden or Crestmead for $450 000 but given how much the market has shifted do you still find this to hold true? Or given the price increases are they now a better pick for the few suburbs still around 450 grand? Thanks