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Suburb Suggestions

Discussion in 'Where to Buy' started by LaoBan, 4th Apr, 2016.

  1. LaoBan

    LaoBan Active Member

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    Hi all,

    I am looking to purchase my first IP, but unsure where is good for medium-long term CG (7-10 years).
    Budget is around 350k.

    I am looking at townhouses at QLD in areas such as: Sunnybank, Sunnybank Hills, Runcorn, Robertson.
    Are they good areas? I am not too familiar with QLD..
    I prefer houses or townhouses due to the obvious land component.

    I am open to any suburbs in QLD or VIC (or NSW if still undervalued).

    TIA
     
  2. hash_investor

    hash_investor Well-Known Member

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    You are looking at the right places.

    - You are in QLD already which pretty much everyone will suggest on the forum too
    - You are looking for townhouses obviously because you cannot afford house?
    - You are looking around the sunnybank / runcorn area. Add calamvale to it as well

    Congratulations on choosing the right suburbs
     
  3. MsAli

    MsAli Well-Known Member Premium Member

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    @LaoBan
    With townhouses in QLD just be wary of complex sizes and the body corporate fees. Big complexes could mean lack of unique factor for future resale and more issues. And typically body corporate is high in QLD due to pools, tennis courts and onsite managers. Could chew up the cashflow / bottomline.
     
    Last edited: 4th Apr, 2016
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  4. hash_investor

    hash_investor Well-Known Member

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    There are some complexes in the Bris area managed for rentals only. You won't find that type of property around Sydney. I suggest you stay clear of them as there will be less capital growth.

    Senior members may suggest better
     
  5. LaoBan

    LaoBan Active Member

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    Yeah unfortunately house may be out of budget.. $400k probably max.. can't get house in those locations (or other locations with great potential CG), can I?

    OK.. Can I get the reasons why some people (seems like including yourself) think that Sunnybank / Sunnybank hills / Runcorn / Calamvale are good areas to invest?

    I have very limited knowledge on QLD / Brisbane area..
    What I know is that lots of Asians in Sunnybank (Brisbane's Chatswood perhaps?) and Sunnybank Hills has a top-performing primary school.
    Is that it?

    What's good about / potentials in Runcorn and Calamvale?
     
  6. LaoBan

    LaoBan Active Member

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    You mean like serviced apartment of some kind?
    If it's for rentals only, then I will not be able to buy it anyway, won't I?
    I guess I am not too sure what you mean by 'areas for rentals only'..
     
  7. Sydboyz

    Sydboyz Member

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    I am in the process securing one OTP townhouse in calamvale.
    With your budget, you can still get existing townhouses in the area.
    There is one park that is very popular in calamvale and it has good schools.
    Reason I bought is the potential to be like Eastwood and next to Stretton.
    The only big con is it has no train station.
     
  8. LaoBan

    LaoBan Active Member

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    What makes you think it has potential to be like Eastwood?
    What's at Stretton?
    Sorry I am very green with Brisbane suburbs..

    Thanks
     
  9. hash_investor

    hash_investor Well-Known Member

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    Nicer suburb + Asian population
     
  10. hash_investor

    hash_investor Well-Known Member

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    How much are you paying? What value do you see there as compared to some existing ones?
     
  11. Sydboyz

    Sydboyz Member

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    Exactly. Eastwood, Epping, Marsfield, Carlingford has significant Asian community and it helps support the price in the area. Similar duplex in the area is around $1-1.2 M and free standing house is $1.3-1.6 M. As the suburb develops and no more land to subdivide, the demand will be stronger.
     
  12. Sydboyz

    Sydboyz Member

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    Honestly, I would prefer to buy an existing one. I bought one through my friend who is an agent in Brissie. The location is close to the popular park and schools so that is a big driver for me. The price is around 420K.

    I don't know how good below news will be. You may want to look in the vicinity area if the DA goes ahead.
    No Cookies | The Courier Mail
     
  13. hash_investor

    hash_investor Well-Known Member

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  14. Nick Valsamis

    Nick Valsamis Well-Known Member

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  15. LaoBan

    LaoBan Active Member

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    But there's no train station in Calamvale.. not sure how important train station is in Brisbane area..?
     
  16. LaoBan

    LaoBan Active Member

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    i am wondering.. in property stats (e.g. median prices etc), do townhouses/villas belong to Houses category or Units category?

    Do townhouses/villas have the same or similar rate of growth as houses in general?
    I am contemplating if it's worth coughing out more to get a house (if the growth is higher) in the aforementioned areas or townhouse will provide same/similar growth..
    obviously less capital (for deposit) and less debt if i get townhouses/villas..
     
    Last edited: 7th Apr, 2016
  17. LaoBan

    LaoBan Active Member

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    Thanks for sharing the link (and to Nick too).
    Was not aware of the potential development there..

    Are there any other future developments / infrastructure upgrades / government initiatives in Sunnybank/Runcorn areas or in other Brisbane areas?

    I am not aware of QLD's developments/planning other than the Queen's Wharf Development..
    Any insights are much appreciated! thanks
     
  18. Kangaroo

    Kangaroo Well-Known Member

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    LaoBan, since you are not familiar with Brissy at all, I strongly recommend using a BA to buy. I bought by myself travelling back and forth and via BA remotely and found that BA's result is way better, worth the fee ! Brissy is very different from Sydney. When you sell, it is highly likely the next buyer will be a brissy local, knowing how your next buyer thinks is very important. It requires strong local knowledge.
     
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  19. LaoBan

    LaoBan Active Member

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    How much is a BA fee? Which one did you have good exp with?
     
  20. Kangaroo

    Kangaroo Well-Known Member

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    PM