Property anywhere in Australia for $150k

Discussion in 'Where to Buy' started by New2prop, 15th Aug, 2017.

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  1. New2prop

    New2prop Well-Known Member

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    If I could buy a property anywhere in Australia for $200k (purchase value not deposit), and be ready to wait for 30 years before I sell it, what would be the best places to buy for CG and yield? What property type and apply what strategy? I am not looking for an unknown town or mining cities, so please skip them :)

    @moderator, how can I change the typo in title to property? Thanks.
     
  2. sumterrence

    sumterrence Well-Known Member

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    Maybe try moree?
     
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  3. Xiao Hui

    Xiao Hui Well-Known Member

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    Firstly I am not a proponent of buying cheap = low risk = good investment. But I do understand there are some investors who just want to spend x amount of money in buying and not worrying about finance, yet hope to achieve some (not spectacular) growth in it along the way.

    Realistically, buying something at around $200k means you can only buy in Regional towns.

    9 Redan Street Bendigo Vic 3550 - House for Sale #126150534 - realestate.com.au

    The above property in Bendigo looks not too bad in my opinion.

    - decent land size of 500+sqm with 3 bedroom house.
    - stand alone house and not attached to any other building meaning it can be developed in future easier if needed.
    - pretty well located. 2.5km from CBD and 1km to the hospital, the largest in Regional vic. This is also not a rough area. This will assure capital growth in future.
    - condition looks reasonable from photos. This means you should be able to rent it out with returns.
    - Bendigo has not grown for years in terms of property prices yet is not too far from Melbourne at 150km. It is not a mining nor a tiny country town. Rather it is a self contained regional town or "city" with a population in excess of 100,000. It has potential for growth in the long term, esp now when Melbourne keeps growing.

    So if you're able to buy at say $185k, I think you should do well in long term. At this price, you will be hard pressed to buy a decent land (just land) in the lousiest suburb in Melbourne.
     
    Last edited: 16th Aug, 2017
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  4. JohnPropChat

    JohnPropChat Well-Known Member

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    Elizabeth and surroundings in Adelaide. Old apartment in Maylands, Perth or Rivervale,Perth for less than $200k with some cash to spare.

    Regional towns are not necessarily a good bet for looooong term holds and they have so much land to spare.

    Why not get a bit more creative and inject that $200k into an SMSF and find a lender that'll service within SMSF and borrow against 50% or 70% LVR to buy a $350k to $500k house and come back at retirement? Seek professional advice.
     
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  5. eletronic_exp0430

    eletronic_exp0430 Well-Known Member

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    I would advise against any regional town. If you cant afford a main city like Perth or Brisbane - continue to save until you can. Long term you wont regret it. Buying in a regional area long term it could end up a very harsh lesson learnt as many on here have already experienced.
     
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  6. DaveM

    DaveM Well-Known Member

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    150-200k will buy you a decent house on a large block in Playford council. Or a renovator in a low end of Salisbury council.
     
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  7. Ko Ko Naing

    Ko Ko Naing Well-Known Member

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    @JohnPropChat and @eletronic_exp0430 By "regional towns", I hope you don't mean large non-capital cities like Geelong, Ballarat, Gold Coast, Newcastle. For those large regional cities, IMHO, long term investment will still work. But I doubt properties worth at $200k will be well-located in any of those regional cities.
     
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  8. Corey Batt

    Corey Batt Well-Known Member

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    Outer northern Adelaide metro - capital city with all the capital drivers compared to regional.

    Definitely only would be looking at freestanding houses - anything semi-detached/units at that range are scraping the barrel.
     
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  9. JohnPropChat

    JohnPropChat Well-Known Member

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    Northern Adelaide metro is already scrapping the barrel :p but for long term hold it'll do just fine I think.

    Same thing with inner-ring suburbs like Maylands and Rivervale in Perth, not the best quality stock but long term they'll do just fine with the added advantage that they are very central places and going for a bargain at the moment.
     
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  10. strongy1986

    strongy1986 Well-Known Member

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    Townsville would be my pick. Can easily get a house for 200k on a full size block. If you look well it wont neccesarily be in a bad area either.
    If your a bit more speculative then you could try some beach/river side towns in tassie. In 30 years you will be sitting on gold - world isnt getting any smaller.
    Any little beach town will become valuable in.the future. Not as many of these spots as people think and they arnt making any new ones

    ignore the regional nay sayers. Just because they arnt all firing at the moment doesnt mean they wont have good growth over 30 years
     
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  11. eletronic_exp0430

    eletronic_exp0430 Well-Known Member

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    30+ years? Common man. Most of us want to be retired over a 10-15 year period MAX. 30 years is a long long long long time. Pretty much the entire time I've been alive.
     
  12. Ace in the Hole

    Ace in the Hole Well-Known Member

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    30 years is a super long time and nobody's crystal ball will get even close to a rough prediction.
    Best be in control of what you can accurately predict in the meantime.
     
  13. Ricky Adelaide

    Ricky Adelaide Well-Known Member

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    Adelaide has got options out north in the Elizabeth and Smithfield suburbs. At 150k you may find there is a little bit of work to be done on them but they typically will have a good rental return on them in the area for what they are.
     
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  14. strongy1986

    strongy1986 Well-Known Member

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    30 years was the timeframe put on it by the original poster and he had a budget of 200k

    So i put in my 2 cents
    At that sort of budget i would be looking to be hands on and try and subdivide / rennovate to create some equity. Should also be positively geared quite easily
    Then can use equity to buy in perth or brisbane (are there still ok deals to be had? Its gone up a bit in the last few years)
    Better than sitting on your hands waiting and hoping you can outsave the market
     
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  15. The Y-man

    The Y-man Moderator Staff Member

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    Done.

    The Y-man
     
  16. Tom Rivera

    Tom Rivera Property Manager Business Member

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    If you keep your eyes peeled, house opportunities come up in Ipswich for as low as $150,000 sometimes.
    .... if you don't mind fixing things....
     
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  17. pwnitat0r

    pwnitat0r Well-Known Member

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    $200k will get you a townhouse in Logan, about 30mins from Brisbane CBD and 45mins from the Gold Coast.
     
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  18. Tom Rivera

    Tom Rivera Property Manager Business Member

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    You'd be surprised, I have a fully renovated townhouse in Woodridge for sale for that money and enquiry is slow. You can get something half decent as low as about $160,000.... maybe cheaper if you don't mind "well used".
     
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  19. joel

    joel Well-Known Member

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    Can confirm. My place in Smithfield Plains was 150K and rents for 255/wk.
     
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  20. Invest_noob

    Invest_noob Well-Known Member

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    Was that 150k including renovation costs to get that rent? What did you spend on fixing it up?