Saw a house in Moreton Bay near station. close to creek, Parts of this property are within the extent of the: 1% AEP Flood event price lower than its neighbours which has same problem as well rental yield pretty good Would you consider buying it? Insurance fee can be ridicoulous high? checked online building insurance, $600 a year, not too bad.
How much cheaper is it than the neighbors? Yield? Similar thread with good points when buying in flood affected zones- Flood Affected Area Brisbane - Would you?
Some insurers won't touch within 1/100 year flood others only go to 1/50. Rang youi and they wouldn't touch land within 1/100 but floor level is above 1/100. They might get back to me but I doubt it
Note that gross yields will take a hammering if your insurer doubles/triples the cost of cover compared to the nearby property with a poorer yield but no flood premium.
yeah, and also consider that at some point in the future you would want to sell it...and being flood prone will directly reduce your potential market. Brisbane has plenty of choice. Look a bit deeper and there will be options at similar price points that are less risky.
Not worth it in the flood zone as it will always be held back -but just outside the zone can be ok as still a lower price than other areas around it but is flood free
Financial Advice – Do you need help Need monthly income? PFI can assist with investment options that return up to 7% per annum and pay monthly distributions. This is the value of advice. » Contact us today