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What type of house do you buy

Discussion in 'General Property Chat' started by Seal, 22nd May, 2016.

  1. Seal

    Seal Well-Known Member

    Joined:
    10th Jul, 2015
    Posts:
    163
    Location:
    NSW
    Looking at getting a house (prob 3 bed) in Brisbane around 20kms out. Hopefully with something to reno a bit.
    What type of houses do you go for and why? Eg highset/lowset, brick, weatherboard, fibro?
    Thinking about what people are after and what causes significant maintenance costs?

    any thougths?
     
  2. MsAli

    MsAli Well-Known Member Premium Member

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    18th Jun, 2015
    Posts:
    1,147
    Location:
    Sydney, Australia
    @Seal - in the north it appears people aren't so fussed about High / Lowset though I think rents are still better on High sets. Most houses are old. If new and shiny - expect the block to be smaller than usual.

    B&P should reveal to you any major issues.

    Not really fussed about the house (brick / fibro) as long as it's not falling apart and doesn't need a massive reno. Locally managing a reno would be ok but interstate it's much more effort. Definitely more maintenance costs with the fibro homes.

    More concerned with the location (fundamentals for future CG), apart from neutral to positive cashflow, buying well - you make money going into the market (not when selling) .
     
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  3. joel

    joel Well-Known Member

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    Location:
    Adelaide
    I prefer brick - youre less likely to have tenants punch holes in the walls
     
  4. spludgey

    spludgey Well-Known Member

    Joined:
    18th Jun, 2015
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    Location:
    Sydney
    One of my beauties here and it gives you a taste of what I like to buy.

    upload_2016-5-22_11-9-4.png
     
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  5. Leo2413

    Leo2413 Well-Known Member Premium Member

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    Location:
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    I go for houses that have scope to add value, are within the 'optimal land size' range for the area (eg most homes are on 600sqm for example, don't buy a 430sqm) and I can buy BMV. Also the area has to have some good growth fundamentals or gentrifying. There are more factors but those are the biggest ones.


    You also don't want high vacancy rates. Below 3 is optimal imo. Also stay away from the flood risk areas.
     
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  6. bob shovel

    bob shovel Well-Known Member

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    Location:
    Somewhere in the land of Oz
    You renovate with explosives!? :p
     
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