QLD Where to buy Brisbane - ~$350K for balanced investment.

Whats with you and your love for corners hehe?

 

Isn't it obvious? Two street frontages... if you can put a secondary dwelling facing the second street....

 

@Gockie's attempt at cornering the market

 

Maybe Townhouse Hemmant for that price

 

Tom how much do these high sets normally rent out for if they have been decked out underneath?

Let's say a 5 bedroom 2 bathroom highset around the marsden area?

 

It really depends on quality of property (i.e. renovated well/poorly, worn out, aged) and other features- e.g. is there a pool, air-conditioning, wardrobes, security screens, etc. You could be looking at anywhere between $420-$500+wk.

I'd also suggest you go one step further and include a kitchen downstairs to make dual-living possible. Rented out as a single house, I've seen anywhere between $550-$600+wk for quality dual-living houses, and there are great tenants out there waiting for nice ones.

 

I am an advocate for not changing the rules.
I specifically sourced my 2 Kingston properties with the 2.4 in mind (they were both sold not advertising they are legal height).
So it was an instant equity gain and a competitive advantage of buying these 2 properties.
Changing the height requirement would bring all properties onto a level playing field and also potentially soften the rental market.

 

The downstairs kitchen doesn't need to be anything grand if renting as one house to people who want dual living.

 

Absolutely! The attached kitchen cost us less than $1,500. Appliances and tiles from Gumtree, cabinetry from IKEA, DIY labour.

It'll obviously cost more if you're not around to DIY, and I'd usually recommend not to buy appliances from Gumtree, but still a great looking kitchen for not much regardless of how you install.

 

That's a mighty fine kitchen for the price.

I was thinking something just a step up from washing in the laundry sink and a toaster oven.

 

Thanks for your insights Tom really appreciate it mate.
That's a pretty good looking kitchen for $1500.

 

Nice kitchen Tom!!

Never installed an ikea/ bunnings kitchen- main commentary I've heard is that if the floors/ walls are square/ level than DIY easy - if not .....

 

Do you really think values would be significantly impacted though because outside of working class neighbourhoods how common is this practice really with all the insurance implications and better demographics in these areas? Isn't it already somewhat priced in?
Also, I understand there's little added value in highsets that have a bottom level that is below legal height, however it does raise the top levels to an elevated position which surely has some value in itself. I'm in Brisbane atm and a little dejected at how common highset properties below legal height actually are. There's only 1 property on my list so far that's ticked every box except this one, so no opportunity for value add.

 

If you are going to use a buyers agent eventually why not just engage one from the start and benefit from their advice and suggestions. That's what you're paying for.
I recently bought in Moreton Bay using a buyers agent with the same budget. I used Micah from Andrew Allen real estate and can highly recommend. They are very specific about what to target and 95% of properties on the market will be ruled out straight away. This was one of the things that I was really impressed by, they're not just trying to buy you a house.

Willy

 

Looks fab Tom, what would you estimate the total cost of someone installing an Ikea kitchen set like the one you posted? I currently have one where the downstairs could do with one later on.