Finally narrowed my search for a new property to semaphore after looking in the Glenelg and Port Noarlunga areas also. Previously rented in semaphore for 4 years, so may be biased but can't beat the beach strip that goes for miles with beautiful dunes, grass areas and wide sandy beach and love the cafe's, pubs and food. Recently sold our PPR in Melbourne after being out of it for 6 years and deciding to call Adelaide home a little longer (5years min). Trying to decide... Do I put all the eggs in one basket, stretch the budget and go Esplanade property, or be more conservative and go nice character home <800k where I can add some value and down the track maybe buy an investment property <400k to go with it? Esplanade prices seem more volatile and a bit riskier, where character home might be more stable. The only house inspected so far where I got the excitement was a property on the Esplanade. It will be the new PPR with a bit of Airbnb. So mainly after capital growth and also a place we will love in the meantime. My questions to the area experts... What do you think has the better capital growth potential - Esplanade or character? Which is the more stable? Feels good to be firm on location, but now comes the next hard one
I like semaphore, when we were in the market for a ppor we went along to auctions on south tce and dudley st. Also nearly bought an IP in Freer st but cooled off due to asbestos. Since its a ppor its going to be a very personal decision on what you (and family / partner?) like. We went the character route ourselves. We prefer the look of it over more modern properties but from a financial perspective think they're due for better capital growth too since they are irreplaceable. If it were me, I'd get character as close as you can to esplanade but obviously that's a pricey combination. It can be reduced a little if its in need of repair and you don't mind doing some work.
Thanks, I think you're right DT... It's actually what we've been looking for but haven't been able to find anything on beach side of military Rd that is <1m, although we have only started going to opens the last 2 months. Might have to be patient a little longer. What are your thoughts on Largs Bay for investment potential? (Same type of property) What are your thoughts on units in Semaphore/Largs? They seem to have had poor growth last 5 years, which could be good thing, or it could be an indicator that's not what people moving to the area are after. I'm sure it would make a decent rental but thinking unit is probably better close to city, maybe along tram line somewhere
I saw this place listed the other day and thought it would make a very cool AirBnB rental. Seems to tick most of your boxes (west of Military Rd, potentially <$1m, AirBnB vibes, character home but not in the traditional sense): 30 Union Street Semaphore SA 5019 - House for Sale #127303122 - realestate.com.au
Actually checked this one out, great location, great size land, would be a good Airbnb, price is right... but it's octagon and very dark inside. And I'm afraid a lot of buyers might be turned off down the track when we want to resell. On the other hand, if you could make it more functional, brighter and modernize it, then some will be happy with the character. Being solid brick moving an internal wall would be a job. Maybe a little to much character??
The section of largs west of military is really nice. The eastern section of the suburb is not very nice though in my view. The prices reflect that though. If you don't mind looking a little further up, north haven is quite nice but the other suburbs along there aren't all that great. It'll come to budget I guess. Not a big fan. I can't picture any nice ones off the top of my head, only old 70s cream brick ones in 3 storey blocks. If you got fully detached one in a small group of 3-4 that'd probably be nice, but the position would be important as the target demographic would change a little. I think this would be awesome as its a little bit funky / different. The garden could use a tidy up and more light into it... Maybe sky light or more windows?
Ethelton and Glanville are neighboring suburbs benefiting from the growth of semaphore but with lower prices
