WA Thoughts on Booragoon/Applecross?

Discussion in 'Where to Buy' started by Damo93, 3rd Jun, 2018.

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  1. Damo93

    Damo93 Well-Known Member

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    Hi all,

    I was wondering what peoples thoughts were on 2x1 or larger Townhouses or Villas?

    We want to be within the school zones of Rossmoyne, Willetton or Applecross.
    Im a little bit worried of holding costs if we shoot for something 700sqm or larger for the future “dream home” and it was suggested to us to consider perhaps a smaller option within the school zones where we could add value via renovation or rent out or sell after some years of capital growth.
    I have looked in Booragoon and visited some decent options, seems to be low supply available and with the close proximity to the foreshore, highway, freeway, with great local amenities seems to be a good option.

    20A Stanbury Way Booragoon WA 6154 - House for Sale #128124514 - realestate.com.au

    Is there anything we havent considered or need to think about?
    Thanks in advance!
     
  2. thatbum

    thatbum Well-Known Member

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    I live in Booragoon. I don't think you can just buy a standard villa/townhouse in the area and expect it to do well.

    A good example is the one you linked - I reckon buying that would set you back years from getting that dream PPOR.

    You really should be looking at getting something below market value and with a way to add equity to.
     
  3. Damo93

    Damo93 Well-Known Member

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  4. thatbum

    thatbum Well-Known Member

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    How would you add a bedroom or bathroom to that sort of thing exactly? I don't think the strata company would appreciate that.

    Look I guess its down to personal preference, but I wouldn't touch that one either as an IP. Renovated pretty much says "no opportunity to add value" to me.

    36 Boston Way Booragoon WA 6154 - House for Sale #128439594 - realestate.com.au

    This is probably the best thing I've seen along the lines of what I'm thinking is best - but it got snapped up within a week...
     
  5. Damo93

    Damo93 Well-Known Member

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    I had a chat to the agent today about the possibility of adding a room or bathroom as there is an opportunity to extend through the downstairs toilet and she seemed to think it wouldnt be an issue but obviously need to investigate further to see if strata would allow it.

    This is in the same block of 9 Townhouses, untouched and original.

    8/14 Siddons Way Booragoon WA 6154 - Townhouse for Sale #126987118 - realestate.com.au

    Theres a significant difference between the two however not a huge difference in asking price.. hence why i leaned to the renovated option as i thought it renovating the older one wouldn’t add much value and the renovated option would be.

    I did see the one you linked, the bathroom was renovated and there was only a carport, but at that price theres a lot more to play with.
     
  6. thatbum

    thatbum Well-Known Member

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    You should pretty much ignore any agent advice on these sort of things. How well do you know your strata types and the differences between them?

    Because the one I linked is worlds apart from the stuff in Siddons because my one is a 2 lot scheme that's possibly convertible to survey strata, if not already.
     
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  7. Damo93

    Damo93 Well-Known Member

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    Yeah although she seemed genuine, i was always going to research more on what the options were regarding extending the existing dwellings.

    I know basically nothing when it comes to strata types amd their differences so i guess i have a fair bit of self educating to do.. back to the drawing board! This why i post on the forum and i really appreciate your opinion and feedback
     
  8. thatbum

    thatbum Well-Known Member

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    No worries. Short version is that general rule for strata is that no structural alterations except without the permission of all lot owners.

    One of the exceptions is a 2 lot survey strata scheme. In fact, a 2 lot survey strata scheme with no common property is pretty close to green title in terms of what you're allowed to do.
     
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  9. Damo93

    Damo93 Well-Known Member

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    Id much prefer a detached dwelling. It was the price point and location as well as being within those school zones that drew me to looking at these options as well as a thought bubble by a friend who owns a townhouse.

    The strata aspect i never really thought much about or have researched thoroughly, how does ome distinguish between survey types?
     
  10. thatbum

    thatbum Well-Known Member

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    By looking at the strata plan. Survey strata is subdivided with reference to the land, while built strata is by reference to buildings.
     
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  11. spoon

    spoon Well-Known Member

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    Some SOLD examples which I would target:

    15 Corbett Way, Booragoon, WA 6154 - Property Details

    23 Stanbury Way, Booragoon, WA 6154 - Property Details

    41 Coomoora Road, Booragoon, WA 6154 - Property Details
     
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  12. Damo93

    Damo93 Well-Known Member

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    I wasnt aware you could get anything in Booragoon for those sort of prices..

    We only looked at the townhouse/villa option to not stretch ourselves as it would be our first home but it seems theres much better value in the 700k price bracket than in the 400-550k price bracket.
     
  13. Damo93

    Damo93 Well-Known Member

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  14. spoon

    spoon Well-Known Member

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  15. Damo93

    Damo93 Well-Known Member

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    We are happy to renovate instead of building the dream PPOR.. the benefit of purchasing something like this would be the land size and school zones which tick those boxes.
    With only 100k deposit, im a bit concerned about the holding costs for something like that
     
  16. spoon

    spoon Well-Known Member

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    Did you buy 16 Hewitt Way, Booragoon, WA 6154 - Property Details It asked for $699K and sold for $770K.
     
  17. JohnPropChat

    JohnPropChat Well-Known Member

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    Applecross is nice suburb, infact after canning river, everything north of canning highway is blue chip.
     
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  18. Perthguy

    Perthguy Well-Known Member

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    @Damo93, I don't know anything about Booragoon but in some areas only the bad deals get listed. A lot of properties are selling off market, which means you have some work to do. It means going to home opens, meeting agents, telling them what you are looking for, getting on their database and following up regularly.

    My mate just bought a house off market in Bayswater. He's been searching the listings for 3 years but only recently started talking to agents and getting on databases.
     
  19. Damo93

    Damo93 Well-Known Member

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  20. Damo93

    Damo93 Well-Known Member

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    We have been to what feels like several hundred home opens and i have contacts with several agents around the areas within the “highly sought after” school zones. Just havent quite found the right house at the right price yet
     
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