QLD Springfield or other areas

Hi all, new member here.

Glad I found this forum, seems invaluable for a newbie like me.

I am currently based in Melbourne, but really able to move with my wife anywhere due to flexible working arrangements. Currently torn whether to buy something in the South-East Mel suburbs or in Queensland in the wider Brisbane area. A friend recently bought a lot in the Kalina Springfield estate. He described it as a really nice place, with good infrastructure and potential. He seems quite excited about it.

I am planning a trip in the next days to Brisbane and I would like to ask the forum members what their thoughts are particularly for Springfield, where my friend bought, but would also be very interested for suggestions on which other suburbs/estates to look at.

We will probably be in Australia for a few more years, so I’d rather get something that can serve as a good PPOR, but would also have potential as an investment property afterwards. In terms of investment, I am mostly interested in securing a descent stream of passive income and holding for the very long term, even if we have to emigrate, so fast appreciation is not the primary consideration.

In terms of budget, I am sitting on quite a bit of cash atm and also have the ability to get much more with a loan, but I'd rather keep the amount (for land purchase only) to around 350k, as I am thinking of investing most of my money overseas and I do not want to be stretched too thin. Would also prefer lots around 500 sq. m or larger.

Grateful for your suggestions, thoughts and any info/tips you may provide.

 

Welcome to PC
Springfield is a "planned" city in Ipswich. It has many many positive factors but has one negative I remind buyers about, which no sales brochure will ever mention. It is inland so the climate is hotter in Summer and colder in Winter than on the coast. A very similar "planned" city is North Lakes close to the coast in Moreton Bay Regional Council. I have no experience with any developments near the southern bay/Gold Coast, others will be able to refer you to them. I would always consider a similar housing development close to the coast for optimal long term value.

For further info about North Lakes, which is pretty much built out now, it is located between Petrie's The Mill Precinct, and Redcliffe Peninsula which itself is sea-locked. Also consider Redlands, Wynnum and Manly.

Best wishes

 

If holding for the longer term and your budget is 350k for the land plus the house why not look at more premium established suburbs closer to water?

What's the budget for the build?

 

Thanks @Angel, that is a really good tip about the climate. It is exactly such things I would have no clue about. Will add North lakes and the other suburbs you mentioned to my list.

@My House QLD, thinking of building a new house. The budget could be around 350-400 for the house only. I am not looking at more premium established suburbs, because from a quick investigation it looks like my budget for the land may not be enough. Also, empty lots could be harder to find there. But prefer to be told I am wrong and I should be looking at better suburbs with this budget.

 

350-400 for the house build and 350 for the land?
700-750k all up?
I feel there are much better locations for growth than Springfield IMO.

 

Nothing wrong with your plan at all. To make your trip as worth while as possible you should check out other suburbs, but just be careful what is 'spruiked' versus what aligns with your strategy.

There is scope to buy a largish block with your plan (maybe a touch bigger than you have mentioned) and maybe build a bit more conservatively, so your investment has a really good land component. I think there is scope to look at something already built (maybe large block). There is scope to look for cooler climes (head South - we are in the Southern Hemisphere after all).

The poster than mentioned heat ..... well it is the sunshine state. The heat will increase 3 degrees by 2050, so the north will get superhot in time. The coast might floody? In some parts.

Enjoy looking around while you are here