People, I’d like to know what’s your opinion and comments regarding this opportunity for investing in QLD this year: 4/2/2 new House & Land Package in COOMERA, QLD 4209 LIVING 76.7m2 FIRST FLOOR 93.85m2 GARAGE 38.94m2 PORCH 4.83m2 ALFRESCO 10.65m2 TOTAL 224.97m2 LAND 300m2 FRONTAGE 10m2 With the offer from my agent, starting from $420k. Considering the median price in Coomera is more than $450k for similar Coomera Property Market, House Prices & Suburb Profile Amenities: 1km to the brand new Westfield Coomera Shopping mall, TAFE QLD, 3 schools, and only 5min to the Pacific Highway. The below official news, sounds like a good news for the Capital gain on this property: No Cookies | Gold Coast Bulletin No Cookies | Gold Coast Bulletin Plus some official supporting infrastructure updates as compiled by Urbis group attached. Hopefully this opportunity in COOMERA will become another successful story like Park Ridge. Note: For those of you who recognize & remember me since the beginning of this forum, yes I have purchased 4/2/2 H&L package in Park Ridge QLD 4125 for $300k which is now performing well: Property Report for 25 Mount Barney Crescent, Park Ridge QLD 4125 & Street Report for Mount Barney Cr, Park Ridge QLD 4125
That's an INCREDIBLE price for a property in Coomera, I'm concerned that something isn't right. Coomera has been very good to us, I've always rented the new properties very quickly to great tenants despite enormous competition (last time I rented two within a week despite 150+ new 4/2/2 properties on the market at the same time). The new shopping centre and other infrastructure in the area will do good things to prices. Our existing clients have already seen very strong capital growth in the past 12 to 18 months. It's a TOP pick in my eyes. That said, the banks aren't loving it right now and many class it as high risk so consider that in your financial options.
Is it a turnkey package? Who's the builder? That price is unbelievably cheap for that area and a house of that size.
Obviously you like H&L packages, I started out this way as passive investor however, MY strategy is now to buy the land component of at least around 30% and sorry but within 12 kms from Brisbane (so I may be inappropriate here to comment as I may be biased - well my strategy is just different). Hence the IP you mentioned has very little land, 300 m, yet the property has around 225 m. So you are basically holding around $105K (1.4K per metre x 75m) in land value as opposed to $315K I($1.4K per metre x 225 m) in house value. House over the years will depreciate, yet the land hopefully if not diluted by the surrounding land should appreciate. So I would prefer the other way round, having bigger land value so it can appreciate more.... You see I look at this this way, I bought Carina QLD property on 600 m block 17 years ago as H&L package, and the land was $115K, so about $192 per sq metre. Now the land valued by OSR is $510K (notice land not the house and land!), so around $850 per sq metre. So perhaps this will give you the understanding that most wealth over time in property is made in land (I am generalising here as Sydney and parts of Melbourne are different, but in particularly in QLD I prefer the houses with land). As you can see only from past history, in this example an increase of 4,4 times in just 17 years, so most my wealth has been because of the land (not the house), not only did the land increased in value but is seems the blocks are shrinking too, right? So that's why my strategy is to buy closer in Brisbane as Coomera and Ormeau and Gold Coast yes can grow over time in value BUT I can see that scares land closer to any CBD and jobs and infrastructure provides ME with a better value and hence a better deal. This is just for your information only. I had sold Ormeau IP as I see lots of land developments coming and still lots of land surrounding hence diluting the value of land. Hopefully this makes sense? You should ask yourself what will make your properties grow over the years, and how much do you predict the land to be worth? If that's your strategy then......
Hi Tekoz. I agree above about focussing more on the land size for future growth. No doubt you'd have done your research, but for those who havent, I'd strongly suggest taking a look at the gains (or lack of) for Coomera properties under 450m2 (even some 700m2) sold in the last 8 months. It's a mixed bag
Cool, thanks everyone for the suggestion and the comments, as at the moment, I couldn't get financing anymore to buy this great IP :-| Anyway, I'll have to sell my Park Ridge first to extract some equity 25 Mount Barney Crescent Park Ridge Qld 4125 - House for Sale #126855822 - realestate.com.au fingers crossed.
A quick search of the area shows 4x2x2 205sq on 444 block sold 432k Sep 29. 15 Moonlight Lane, Coomera, Qld 4209 - Property Details What you are looking at is not an amazing investment on that block size. Guarantee it is way up the back of Coomera bordering Pimpama. Old stock in Coomera is generally sitting on double the block size. You also have Coomera waters pushing up the median with 700k - 1M+ property's.
OK, so I guess it is not a good opportunity then. Thanks all for the suggestion and the comments regarding this issue. I appreciate it muchly.
