Hi everyone! I’m a newbie here I bought a one bedroom unit in Bondi junction in Sydney 7 years ago, which is my PPR. I’ve just been pre-approved to buy at $425k. I’ve been looking for a while and decided that I want to get an IP in Brisbane. I would like to get your opinion on whether I should A. Buy a house in Zillmere on a 647m2 block Or B. Buy a townhouse in Nundah or Northgate Option A appeals to me more because I assume I can get more CG in the long term. I want my IP to be on the train line and these are my only options that are relatively close to the CBD. I’m open to other suggestions too!
Hi Tabby, Out of those options I’d rather option A. In saying that, I would consider trying to push a little further to get inside the 10-12km range. You want to push as close to the CBD as you can afford, I don’t think you’ll miss out if you wait until the end of the year to buy. For 550k you can get a quality property 10-12km from the CBD on a 600m2+ block. High OO areas with access to the city in under half hour. Leafy suburbs with greater land scarcity. Yes it will cos you more upfront in deposit and buying costs, but once you have it it won’t cost you any more to hold as the only expense that will be higher is interest, and this should be mostly offset by increase rent and better tenants. Something to consider. I just believe in 15 year time the equity gap will be far more than the 120k difference now. Just broadly speaking though as I have no clue of your circumstances. Keep seeking out people/books that hold way more sound ideas than myself. All the best
I guess come down to what kind of cashflow/rent return are you looking for and how it will impact future investments e.t.c e.t.c ... Some good opportunities towards north of brissy to be found.. Cheers,
