Torn between where to buy decisions

It's been several weeks of research and I'm still no closer to a decision on where to buy in (sub 20km) Brisbane! I know everybody says to look at the common things, but there are many areas that are close to schools, transport, and all have their pros and cons.

Prices in most of the areas I am looking at are fairly similar like-for-like. There is no "outstanding" area that is jumping out at me (other the areas I can't afford!), and to be honest, I'm a little unsure much will separate them in terms of CG in the next 5-10 years.

At the moment I live south of Brisbane, and from all indications that has served me well where I did buy a few years ago. I sort of feel I should diversify and buy north of the city in case growth there exceeds that of the south (which is my gut feeling right now), however there are plenty of areas nearby which seem better priced, and more available stock.. but maybe that is a bad thing as it indicates less demand. On the plus side, I obviously know the south a bit better and may see things others don't.

How have you resolved such decisions in the past? Is there any factor above anything else that has guided you at the end? Right now, all I have decided is that I seem to have a big case of decision anxiety

 

gman, I'm in almost the same boat, with two on the south, and looking for the next one asap.

Having said that, I rate my chances of picking a good buy or a bargain much more highly on the south side, living and working here.

To reconcile my dilemma, I really can't see that the Northside will have any major rise without the south side tagging along, and vice versa.

 

If you've done your research and don't think there will be much separating the areas then I'd would just trust that and don't worry too much. Just buy where you can get the best deal and save the stress of second guessing your decision.

 

In the past 10 months I've bought one in the north and one in the south. I barely knew anything about either suburb. It was all about the numbers.

 

Did you use a BA beachgurl?
After reading ALL the threads on SS and here it seems a lot of the smart money is going (has gone?) to Brisbane recently, but like you I am from Sydney will little knowledge of Brisbane, and little time to spend weeks up there researching (young kids, own business).

 

Hi SB if you're after a Brissy BA there's lots of great ones at REBAA www.rebaa.com.au
Best of luck with your search

 

Beachgurl I have done the same in Brisbane,what area's did you buy in?

 

Thanks Jacque.
I'm still undecided about buying through a BA, hence my question (I know you are one, no insult meant!).
Just find that 2% hard to swallow and got spooked after going to see Metropole last year - just felt they were making easy money for pushing the same stock around to people like me (which I could have perhaps found myself). On the other hand if I had got off my ass and just done it then that 2% would have been more than made in CG.....more the fool me.

 

Chermside and Coorparoo

 

First property I just found on realestate.com.au. Second one used a BA

 

If you have narrowed your search down to two areas that you can't separate, it seems to me, that you would just go through your micro search; you would narrow down the best deal with the property that checks as many of your boxes at the right price point.

It seems like a good problem to have, you now have two suburbs worth of stock to look for your best deal.

Is this right? Or do you really want to make sure you have picked a preferred area?

Beelzebub

 

gman65 you are more familiar with the Southside and can find better deals there with less competition so don't procrastinate just get cracking imo.
You know the area better and can probably buy better there so just do it.
I don't think one side north or south will out perform only individual suburbs. Diversification IMO is more about not buying all your ips in one suburb or city but this depends on how many you hold. Some people here are more what you would call conviction investors and are happy to pile into one location to catch a wave. Both sides of the brown ditch should do okay

 

Thanks for the replies. I guess the best intuition is to "go with what feels right", and I think that is buying soon. In my mind I have a few things I think I want to avoid, but otherwise, I think I need to stop overthinking it.

 

@The Silver Bear

if you are still looking for BA, feel free to flick me an email.

friend of mine(lives in Sydney) used BA in Brisbane to buy IP and she was very happy with service.

 

It's easy to find fault with most buys you make .

Every so often you make a buy that you know at the time was perfect ( I can think of five out of around 30 ) .. the rest are good or ok . If you've done your research , got you're timing right and bought a property with no major issue's you'll do ok . It's easy to over analyse .

We've just bought a property that we know we've probably overpaid for ( about 5 % ) , but it'll make good money for us in the next 3-5 years , we'd just snuck in with 90 % LVR and were concerned whether we'd be able to get over 80 % . B & P came back so so .

If you can't decide which suburb is better , chances are they'll all be ok . Spend some time looking at specific properties and see which ones pop up as being better. I'd have no problems buying more than one property in one area .

If you know an area in brisbane well ,and you're seeing opportunities ...... pm me ...

We're buying in an area which isn't as hot as some of it's neighbours BUT , that means it's slightly easier to get a better deal and we're not fighting off ten other sydney investors .

Cliff

 

Good advice.

change your avatar, that pulling hair thing is driving me crazy, I want your old one

MTR

 

Have to wait until I get home on Monday ...

Cliff

 

Ok, till Monday