Stretch budget to Brighton (Qld)?

Discussion in 'Where to Buy' started by Seabreeze, 27th Nov, 2020.

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  1. Seabreeze

    Seabreeze Member

    Joined:
    8th Oct, 2020
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    Location:
    Sunshine Coast
    Seeking some advice please :)


    My husband and I are looking at our first IP, ideally less than $475k inc stamp duty.


    I have been looking at Bald Hills and Bracken Ridge as they tick lot of boxes IMO and have decent yields.


    However, I can’t help but think that perhaps we should stretch our budget and lower our yield expectation to try for Brighton - what are people’s thoughts on potential for capital growth being a waterside suburb?


    The higher purchase price and lower yield is a bit more outside our comfort zone, although I think we could afford it, albeit in one of the back streets rather than on the water. I’ve checked the flood maps so I’m aware of that side of things.

    Also interested to hear from anyone who was like us - first time investors, more comfortable with a lower budget - did you end up borrowing more/sacrificing on yield and would you do it again?

    Any opinions or advice appreciated. Thanks
     
  2. simplevalues

    simplevalues Well-Known Member

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    Location:
    Sydney
    The suburbs you have mentioned are not within your max budget at all... Brighton and Sandgate better I heard but do your research... even entry level properties are in mid 500s... Bracken ridge is nice too I hear but I’m yet to explore more..:
     
  3. Closet

    Closet Well-Known Member

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    Yep, both have moved significantly in the last 6 months and the creep has now gone into Clontarf which is up 8 - 10% depending on which source you believe. For the money and water Clontarf is only a 5 minute drive over the bridge, full of knockdowns and rebuilds so a good option
     
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  4. Seabreeze

    Seabreeze Member

    Joined:
    8th Oct, 2020
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    Location:
    Sunshine Coast
    Do you mean that Bald Hills and Bracken Ridge are not within our budget? There are several houses for sale in Bald Hills in the low-mid $400k range and although Bracken Ridge is a little more expensive, there have been a few houses within that budget that have sold in the last few months.

    Just tossing up on stretching the budget to go for Brighton, Sandgate is a lot more expensive though.
     
  5. simplevalues

    simplevalues Well-Known Member

    Joined:
    4th Nov, 2020
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    Location:
    Sydney
    For your budget maybe bald hills can try ,Bracken ridge is moving very fast when I observed last week...also you may get a renovator for that range.