House in Strathpine

Discussion in 'Where to Buy' started by gsk09, 20th Jul, 2020.

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  1. gsk09

    gsk09 Member

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    Hi All,

    Is it a good idea to buy a new house in Strathpine ~500k as a first home buyer. Would want to know about capital gains, general rentals, good, bad about the area /deal.

    Thanks
     
  2. Indifference

    Indifference Well-Known Member

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    PPOR or Investment?
     
  3. gsk09

    gsk09 Member

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  4. Indifference

    Indifference Well-Known Member

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    Ok, so why Strathpine?

    Is it where you want to live?
    Is it where you think you can afford?
    Is it somewhere you think you could get reasonable CG even though a PPOR?
    Is becoming an IP later a consideration?

    Buying a PPOR is generally a different proposition to buying an IP.

    For 500k you can buy a house in many outer ring suburbs around Brisbane .... not knowing any details other a house and the suburb, makes it rather difficult to comment the deal.
     
    Last edited: 20th Jul, 2020
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  5. gsk09

    gsk09 Member

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    I am new buyer and I have been exploring few areas in Brisbane. Recently I have been to a new house and land construction at strathpine. The house I saw is in my budget range and also makes me eligible for the grant.

    I met few folks from that community ( new house is within a community) and they had great reviews about the community which kinda appealed to me.

    It is a decent distance to shopping center and train station.

    As you have pointed out, though PPOR at the moment I would like to have an option to sell it later may be 4-5 years down the lane.

    I did the suburb analysis and it appears to be decent. DSR score of 63 odd and with decent numbers around cg, property time on market, possible rents for similar house etc etc that points very reasonable returns. Appears to have reasonable good schools

    Since this a big investment I am developing cold feet and I don't want to leave anything for a chance and hence the question to get some thoughts that I may have missed to consider.

    Any suggestions on other suburbs would also be welcomed. Decent school, somewhere on a train line, 500-600k budget, new house are some of the things that I am looking at.

    Thanks a lot
     
  6. Angel

    Angel Well-Known Member

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    Is it in the brand new estate behind the Anglican church and close to the Bray Park station, or the other estate off Graham's rd which is way too far to walk to the station in the summer heat.
     
  7. MelindaJennison

    MelindaJennison Brisbane Buyer's Agent & QPIA Business Member

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    Just be aware of the size of the blocks ... properties in "The Landing" are selling for a higher price then neighbouring established dwellings on double the land size. You will pay more for the house when buying brand new due to all of the margins built in to the purchase price. I understand to qualify for many of the government incentives you need to buy new ... just something to be aware of - especially because you mentioned you want to see capital gains and you may sell in 4-5 years time.
     
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  8. gsk09

    gsk09 Member

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    This property is at "The Meadows". It's a fair call on new properties vs old properties with huge land size. Preference is to go with a new property not only to qualify for the grant but looking for a new start in a new house- if it makes any sense
     
  9. Spiralkut

    Spiralkut Well-Known Member

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    I'd say Strathpine is decent for future CG
     
  10. Angel

    Angel Well-Known Member

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    "The Landing" on Samsonvale rd will be better walking distance to the train and is the highest elevation land in the district. It is landlocked, unlike the estate you are considering. I notice walkability from "The Meadows" is a lot better than what it was from the previous development in that section of Strathpine.

    Either way, if you have your heart set on a new home, Strathpine's CBD will continue to develop and is in the early stages of a long-overdue upgrade.
     
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  11. MelindaJennison

    MelindaJennison Brisbane Buyer's Agent & QPIA Business Member

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    Following on from the comment about elevation and comparing The Landing with The Meadows ... good to also be aware that The Meadows is in a very low lying area of Strathpine next to the creek and it IS in a flood planning area so I would be asking the developer more about this and how they have achieved flood immunity for the estate. See screen grab below of this location and the flood overlay mapping. Capture.JPG
     
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