QLD what do you think about this property ?

Guys

need you help, as a FHB, I am pretty nervous about the whole thing, what do you think about this property ?

23 Mayled Street, Chermside West, Qld 4032

I appreciate all feedback ?

 

Looks like sloping down.

I personally prefer properties on high side of the street.

 

oops, my wife told me the same thing !!

 

Very slight slope, not worth stressing over.
Likely a good first PPOR
Sure it needs some work, painting, a bathroom down the track.
One day it could be rendered and change the look entirely
So long as there isn't any water damp getting into the downstairs area.
I didn't see any Air Cond, so additional cost....
Good Luck

 

Do you know anything about waterproofing brickwork?

 

no, nothing, all I know is computers

 

Then I don't like this house.

 

I live a few streets away Chermside West is a really nice, quiet suburb. Lots of similar properties have been rendered/painted and had cosmetic updates. A walk around the streets surrounding the park should provide plenty of inspiration if you’re so inclined. Good luck!

 

Might be my eye-sight this time of the morning,but make sure you have the roof checked just does not look right or the photo is out of wack..imho..

 

I like the area and the street, but I would suggest looking into the location of the services, in particular, the sewer, given the slope away from the street.

I bought the one over the road a year ago (26 Mayled), it was originally a 3 bed 1 bath renovator. we ended up turning it into a 4 bed 2 bath with a nice deck to the rear of the home. its turned out to be a great performer, generating a good chunk of equity and a solid rental yield.
https://www.realestate.com.au/property/26-mayled-st-chermside-west-qld-4032

I agree with @Property Twins that something on the high side is preferable but you will likely have to pay more than for the equivalent property on the low side of the street.

 

Daniel

that's a small world !!!, yes, indeed, I have done extra check, and I am very nervous about the cost of renovation, and the sewer !!!

 

From memory, it was just over 100k but don't hold me to that! I should also mention this one was for a client, not me personally.

I know they put in a lot of their own hours to bring costs down as well, they were on site doing all the things they could (sanding, Painting, Demo etc.)

 

This is true... by the same token, when the OP comes to sell it at any point in the future, prospective buyers will be having concerns with this, reducing the 'pool' of people interested in the property.

 

had another inspection today, took a builder with me, he think it has a solid structure, but the cost of renovation + air conditioning, security screens , maintenance for the garage door, painting will add up quickly, and he did not like it is on the low side,

there was a buyer agent there, just doing his work, no emotion whatever

 

So what are you thinking?

 

I don't know mate, and to be honest, I am not sure about the market value, as I am inexperienced, I am scared to overpay and regret it later

 

Maybe do nothing with this house, then attend the auction as an observer. See what bids it gets. Attend several opens and auctions and keep a record of each property - your thoughts/comments about them and what they sell for. This will allow you to develop more knowledge and then confidence at determining what price you are prepared to pay. It is important to take your time and do not buy a property out of fear of missing out (FOMO).

 

ok, now looking at this one, dear expert, what do you think, I know the asking price is just ridiculous

23 Pacific Street, Chermside West, Qld 4032

 

23 Mayled St......bit rough around the edges. Has good points. If the price is right, go for it.

23 Pacific St.....lol, it reminds me of a 3 bedda Mt Druitt fibro that's been raised and bricked up. Yeah it is neat but not my cuppa. You might get ridiculed by work colleagues if you buy that one at that price.