Starting Out In North BNE

Hi All,

I'm very happy to have found this site and I hope to learn as much as possible from the experienced hands here!

My girlfriend and I want to buy our first home this year and have been looking on the north side around Redcliffe, Bald Hills and Strathpine. We want to stay around 400K and are looking at 3bed stand alone houses. We have 2 dogs (Border Collie & Kelpie) so ideally we want a 600m block to keep them somewhat sane whilst we use this as a PPOR for 1 year.

This house will be the start of our property investing journey so I am looking for good capital growth potential to set us up nicely to build a portfolio.

We would love to hear your thoughts about our situation or any sage advice to help us get up and running.

 

Hi there
Welcome to PC.
Sounds like a good plan
What happens once this becomes an investment property?

 

Hi Property Twins!

The plan is once it becomes an IP we rent it out and hold onto this place as a long term investment. We're focused on trying to earn capital gains to help us build equity. Unfortunately we won't have the capital to do significant renovations in the short term.

This is where we are a bit torn.. Redcliffe appeals to us as it's close to the shore, has decent infrastructure and has a bit of redevelopment being undertaken. On the other hand it is further away from the CBD than other suburbs we can afford to buy in.

 

welcome to the forum @PropertyNewb.

your plan sounds good, many of us started with the first property as PPOR, then turn it into an investment later.

re North Brissy vs other suburbs, the closer you get to CBD, the higher price tag it will be, and smaller land size.

( I assume you and girl friends are both very young), you have plenty to experience a few property cycles ( not saying every property will double its value every cycle), if you can hold for longer time, you are very likely to have good capital growth.

 

Thanks Eric. Yes we are both relatively young and are thinking long term.