QLD Defiance Road, Woodridge, QLD, 4114

Discussion in 'Where to Buy' started by CheapLowBudgetGuy, 14th Jul, 2020.

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  1. CheapLowBudgetGuy

    CheapLowBudgetGuy Member

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    Brand new to Property Chat and have been researching a place to live for a few weeks now. I have 15K deposit in cash and 5K for additional expenses. I want to buy a super cheap property to live in for a few years and was sussing out Defiance Road, Woodridge, 4114. There are heaps of affordable properties within my budget. In particular, I'm eyeing off the properties at number 41 Defiance Road and the properties at 29 - 31 Defiance Road. I have a suspicion that one of the reasons the properties are so cheap is because the Body Corporate finances are a disaster. Does anyone have information regarding the Body Corporate situation?

    I can find plenty of "bad" information on the area but it dates back to 2018. What is the Mid 2020 perspective? I was thinking if I did buy and move I would buy home security cameras and a dashcam for my car. Will change the property locks upon purchase and secure the doors and windows.

    About me, I am single and 35 years old, male and keep to myself.

    What are your thoughts and what do you think about the location in general? Constructive feedback and comments ONLY, please. I attached a photo for reference.

    Cheers!
    CheapLowBudgetGuy
     

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  2. gach2

    gach2 Well-Known Member

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    About the area - have you hung around there? Its not really that bad. Yes there are bad sorts but as you mentioned you keep to yourself. In relation to thefts etc not sure if camera's are really an issue but common sense lock your doors etc (more opportunistic crims than actual ones)

    In regard to apartments you mentioned - just looking at them they are pretty rundown and bottom of the barrel for the are (hence the cheapest). The only issue you might see is more on a luck/unluckiness is bad neighbours (considering they would be the cheapest and/or easiest property to rent)

    Have you considered 6 months renting in the area? Properties might seem cf+ in the area but their not really after all expenses. At worst you'd pay a few $ extra per week for a few months than make a bad decision. I don't see Logan prices going up in that short period
     
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  3. willair

    willair Well-Known Member Premium Member

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    Be careful posting the details ,for an extra 50k you would buy into Moorooka where you can walk too the bus train private public schools shops safely..imho..
     
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  4. Trainee

    Trainee Well-Known Member

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    Body corp is about 1300 a year, which is a high % at this price range. Council rates about the same?

    so think that for a 1 bed that might rent for $215 and purchase for 120,130ish, expenses are high.

    also if you are looking at the one bed, they look smaller than 50sqm. Finance might be an issue.
     
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  5. spludgey

    spludgey Well-Known Member

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    I don't know Woodridge well, but I do have a property in Logan.
    One word of advice would definitely be to have a look at the 100 year flood maps.

    Personally, I always prioritise land over building, so I don't like anything with body corporate.

    Good luck!
     
  6. The Gambler

    The Gambler Well-Known Member

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    The renting option is decent, but honestly, I wouldn't do it. You don't want to drag yourself down. It's a depressing area and you're surrounding yourself in multi generational unemployment. Even when I was a kid it was a bad area and it continues to be a bad area. I don't think it's a flood problem, that's down the other side of the high school and city hall. But don't quote me on that, def check it. But really, I don't see any upside in buying a place like this. I don't see it as getting a foot in the property ladder... IMO. Good luck.
     
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  7. David Shih

    David Shih Mortgage Broker Business Member

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    I would tend to agree with @gach2 - first rent there for a few months and then see whether you're comfortable with the area/neighbourhood before committing to purchase.

    Woodridge unfortunately doesn't have that great demographics in general. As someone who owns an IP there for the last 4 years, tenant issues & turnover has always been one of my biggest headaches. And CG has literally been very little to none but that is as expected.

    Cheers,
    David
     
  8. CheapLowBudgetGuy

    CheapLowBudgetGuy Member

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    Thanks for your reply! Yes, I was eyeing the 1 bedroom, but decided I'm better off spending the extra and securing a 2 bedroom with a private courtyard at the back. That 1 bedroom appears to have zero privacy and has been sitting on the market for quite some time now.
     
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  9. CheapLowBudgetGuy

    CheapLowBudgetGuy Member

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    Thanks for your reply! Yep, I'll definitely suss out the Flood Zone! I've never even been to the area so will spend some time driving around and talking to some local experts. It's the only location that I can easily afford as well as still investing in my share portfolio. AND, if I lost my job for whatever reason I can still pay the mortgage without struggling. A property more towards the 200K mark means I'd be screwed if my I couldn't work, and therefore couldn't make payments. Also, it's a small stepping stone to building a more secure future. At least, that's what I'm hoping!
     
  10. CheapLowBudgetGuy

    CheapLowBudgetGuy Member

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    Thanks for your reply! Bad tenants can pop up anywhere, but yes, would be potentially more prone to the 4114 post code. I would be living in the property for the foreseeable future but might be subject to unpleasant neighbours. When I do eventually rent the property out I'll be investing in premium insurance. I have contacts in the insurance industry to help ensure I get appropriate coverage. It's body corporate that I particularly want to research and comprehend.
     
  11. David Shih

    David Shih Mortgage Broker Business Member

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    In that case perhaps ask sales agent for a copy of the strata annual general meeting minutes to see if there are any items on the agenda & notes that's showing alarm signs.

    Cheers,
    David
     
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  12. CheapLowBudgetGuy

    CheapLowBudgetGuy Member

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    Thanks David! I really appreciate your advice! AND, I just saw the link to your YouTube Channel. I am a massive fan of YouTube! I'll watch some of your videos and will also subscribe!
     
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  13. CheapLowBudgetGuy

    CheapLowBudgetGuy Member

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    Thanks for taking the time to reply! The more I research the area the more intrigued I am. The price variance between comparable properties is astonishing. And the same goes for when I research rentals. From what I can see the determining factors is the info not easily available, such as Body Corp. The area has so many similar properties, that selling in the future, regardless of when will be more of a challenge. But I want something for the long term. Cause I'm 35yo I can hold on to the properties for the duration of a mortgage. The growth corridors between Brisbane, Gold Coast and Ipswitch will only grow in popularity.

    Truth is, I've never been to the area so will endeavour to suss the location out more in person. Currently, I have a very low standard of living, so for me, a move there will be an upgrade.
     
  14. Angel

    Angel Well-Known Member

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    Would you consider moving to Moreton Bay? I dont know where you work or what type of living you would prefer, but Moreton Bay is "affordable" and generally nicer than southern suburbs. If you are happy to catch a train to the CBD if that is where you work, then Narangba and Burpengary have a nice feel to them. Have a look in Strathpine/Brendale for a townhouse, 30 minutes to Central Station. Deception Bay feels like Logan and Woodridge but is right on the waterfront.
     
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  15. CheapLowBudgetGuy

    CheapLowBudgetGuy Member

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    Thank you for taking the time to reply! It's much appreciated! I currently live and work in North Brisbane. Perhaps it's just me, but when I search 2 bedroom unit/apartment/townhouse in Northern Brisbane (including surrounding suburbs) the only properties around $150K are located in Caboolture. I would prefer to choose Logan because it's in the Brisbane/GC/Ipswich corridor. My objective is to be able to live below my means for several more years and then slowly upgrade my lifestyle as I get older. I've decided that I will contact a Mortgage Broker today and find out exactly what my mortgage limit is.
     
  16. The Gambler

    The Gambler Well-Known Member

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    Personally I think you're making a big mistake. You're better off renting with a friend and sharing the rent or living with your folks, if possible, and saving money to then upgrade your purchase. The cost of places isn't going anywhere in the next 12-18 months so you can look at this as a chance to save money before getting into the market. Being 35 or 37 makes no difference. What makes a difference is the place you purchase.

    It seems you have your heart set on it though purely based on price (just going from your posts). There are reasons they are so cheap.

    Why don't you move to the Gold Coast? There are cheap places down there. At least you could be in driving distance from a beach instead of Kmart.

    As for BC. Just email the listing agent and ask them for the BC and they will tell you. It's annoying they often don't list it, but usually when the BC is cheap, they'll list it. You can contact them directly on realestate.com.au
     
  17. Trainee

    Trainee Well-Known Member

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    Just hard to see how a small unit in this area is going to go up. And with body corp killing your cashflow. Buying isnt some magic thing just because it seems unimaginable to you. A few years of owning this will set you back with no returns in sight.

    better off sharing in brisbane and saving hard.
     
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  18. Rich2011

    Rich2011 Well-Known Member

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    Sh
    Share houses are pretty cheap in Brisbane so that could be an option.

    Another option is buying a cheap house in Logan and renting out one room to help pay the mortgage. If you buy well and under the median price then do some small renovations/makeover you're adding value. I feel its a much better option than a one bedroom unit with strata in Woodridge.
     
    Last edited: 19th Jul, 2020
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  19. Angel

    Angel Well-Known Member

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    Did you notice how the sold units on that street have gone down in price over the years?
     
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  20. boganfromlogan

    boganfromlogan Well-Known Member

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    Hi cheaplowbudget guy, i think that looking at these areas is a good idea. Not sure about dash cam and video - get a Dog! People don't enter premises where there is a dog. Did you notice that some super cheap flats are being sold in inner city Bris (there is an oversupply). I have noticed some cheaper villa style units in Rochedale South, some cheap houses in the loganlea area. If i was buying woodridge i would stick to the northern end (near compton road), perhaps near the train line there and buy a house. But that is just me. I bought a fridge from a guy in a villa style unit .. part of complex near Trinder Park station. He had the most fantastic garden, much nicer than anywhere i ever seen. So you can get good neighbours (lovely fellow - good fridge too :)).