QLD North Brisbane location for

Discussion in 'Where to Buy' started by Lindus8383, 1st Dec, 2019.

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  1. Lindus8383

    Lindus8383 New Member

    Joined:
    1st Dec, 2019
    Posts:
    1
    Location:
    Clayfield
    Hi there,
    I’m first time investor with a very small budget of $300k, I have decided on location Kedron, Clayfield or Windsor in Brisbane, either one or two bedroom unit. However the body corporate fees are killing me, some properties are $400 per quarter some are $800.
    How do I calculate what is viable for me? The expenses, For example mortgage is $1500 plus electricity plus body corporate ? Is that all I need to pay monthly? Thank you
     
  2. Codie

    Codie Well-Known Member

    Joined:
    6th Mar, 2018
    Posts:
    1,591
    Location:
    Brisbane
    $400 for body Corp would be considered cheap, $800qtr is reasonable and fairly common in smaller 4-8 unit blocks, some run upto $1500qtr if newer units with pools and lifts (I would personally avoid these)

    You need to factor in contents insurance as only building is covered in body corporate fees
     
  3. Skinman

    Skinman Well-Known Member

    Joined:
    9th Jan, 2018
    Posts:
    609
    Location:
    Perth
    Don’t forget property management fees if you are using an agent say 7.7% in QLD and rates.
     
  4. BarneyRubble

    BarneyRubble Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    283
    Location:
    Brisbane
    You don’t pay electricity, your tenant does.

    Normal expenses are:
    - mortgage
    - body corporate (there may also be a sinking fund contribution)
    - agent fees
    - council rates
    - water rates (in Brisbane they are seperate from council rates)
    - smoke alarm service
    - maintenance
     

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