QLD Invest or live as FHB

Hi everyone

Been a lurker on these forums for a while and have really enjoyed the vibrant community and advice on here.

I've decided to stick my head out and ask for some advice, and I'm very new to property.

I'm a FHB and trying to decide between:

A) Buy under $550k and live in it. Use the first home concession, in conjunction to the super saver scheme.
This budget is quite difficult to work with, because of how hot the Brisbane market is in recent months, so I would be looking at buying further out (>15km from city). Luckily I don't work in the city so it doesn't bother me, but living in the house would restrict me as I would be looking at suburbs closer to where I work (western suburbs). With the rising popularity of the northern and south-eastern suburbs, and lack of train line in the west, I'm not sure if CG will rise... Or does a rising tide indeed lift all boats?

I'd be looking into the centenary suburbs (Seventeen mile rocks, Jamboree Heights, Middle park) or Oxley.

B) Buy for investment (current budget around $650k), give up on the first home concession and super benefits. Rent closer to work and buy an investment property to rent out, because of the low interest rates it would likely be neutrally geared.

I'd be looking into Rochedale South, Aspley, Stafford Heights, Ferny Hills, Arana Hills, etc.
If you have any other location suggestions that would be great.

C) Wait until the next financial year (from July onwards) as my borrowing capacity will likely increase, hence less restrictions with choice of property (probably over $700k budget).

However nobody has a crystal ball so we don't know if the prices will continue to climb by then. Not sure if I should just get in the market now, or wait and see?

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Any advice or suggestions would be very much appreciated.
Thank you all in advance!

 

Welcome
I suspect, being that there are lots of investors here, many will advise to go with option B - 'rentvesting' they call it