QLD Why I bought in Goodna - See Change

Thanks mate...don't late the haters hate.

Let us know the dimensions of the block, the house size, and approximate room sizes.

I think you might be onto something?

Also is the house boundary to boundary or only on 1 boundary.

I have feeling it is 10.5 by 24 deep block?

 

Simple solution . We didn't buy anything that was mining , flood affected , close to HV transmission lines , too close to freeways etc , ie any significant negative .

If it's impacting your decision to buy , it will impact anyone else's decision to buy if you want to sell at any stage , and don't say you have no intention of selling . You never know when circumstances can change .

Cliff

 

What Seech said. These fundamentals you cannot change! I always consider these factors in propective property buys.

 

Thanks Cliff. I think you managed to pick them up at the right time with good price when you entered the area. If you bought for 210-220K and returning 280/290 a week then that's a good 7% yield. I wouldn't mind holding a couple myself if I'm able to achieve that

Unfortunately the market has since moved so I guess it's much harder now to pick-up a good deal for this area. Next stop Adelaide?

 

I think if you look hard enough you will still get a good deal here. Maybe not the same yield as Seech because he moved in early. But not far off. This market has crept up, but not hugely so far.

 

Make sense, so after couple of years I'm looking forward to buy in Goodna/Ipswich/RBP area.
Because, the house price is not that expensive compares to the middle ring Brisbane city area.

 

I think that's correct .

Cliff

 

What is your land size? 250sqm?

 

Yes that's right. 250 sqmeter. See the highlighted lot below:



hence I'm making my house bit more stand out than the others by adding 4th room to make it more appealing to new families 4/2/2 hence the price $300k.

 

What kind of family with multiple kids does not want a decent bit of back turf for them to run around? Most would only choose if no other options. I buy the smaller block size argument for couples and downsizers etc but not when there is stacks of land out in the sticks.

 

Well, it is suitable for Logan area population if you can rent it bit cheaper for $400.

This is similar blocks to mine: Sold Price for 5 Mount Mee Street Park Ridge Qld 4125

but mine one is 4 bedders instead of 3.

 

not going to increase the price necessarily. an extra bed is eating space from somewhere else... diff people need diff things

 

We saw the same thing, so targeted the slightly more expensive properties and then talked them down. Got one advertised for 275, bought for 248. Just rented for 300/week. We thought this was a better buy at the same time and price for properties comparable to those you listed.

Edit: By we, I don't mean me. But someone close.

 

Nice to see someone using their brains

Good buy

Cliff

 

Looks like this area has really heated up...prices that were around the $240k+ for the HC homes when this thread was started are now selling over $250k.

 

They were selling for 220 mid last year so has been heating up for a while .

But still hasn't reached peak of last cycle.

Cliff

 

Do you expect the Ex HC houses to peak at much higher price point in Gailes/Goodna than Riverview? And do you think these type of houses might peak over 400K during this cycle?

 

So still plenty of time to grab onto the coat tails for a free ride it sounds like.

 

I Like riverview too and just contracted one for a client for $240K .It needs a reno but the house is huge on a big block .The area is neat and tidy(and backs onto redbank plaza-PS Love the huge police centre at the front of it-I wonder why?!!) but lower median than goodna and surrounds.
The one reason is possibly too that it is about 5kms further out from the CBD that goodna etc but apart from that is a good little spot.I reckon it will go well for sure in the next few years.
I would be careful of overpaying due to hype though -i have seen a bit of this with the HC homes.

 

I might have missed one but I think this is the first of the ex house's to be listed with a starting price of 250 .

250 K

245 K

Will be interesting to see what they end up selling for .

Cliff