QLD Would you buy this property?

Discussion in 'Property Analysis' started by VDK, 13th May, 2021.

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Would you buy this place?

  1. Yes

    2 vote(s)
    20.0%

  2. No

    8 vote(s)
    80.0%

  3. Third alternative

    0 vote(s)
    0.0%
  1. VDK

    VDK Active Member

    Joined:
    13th Feb, 2019
    Posts:
    41
    Location:
    Brisbane
    https://www.realestate.com.au/property-house-qld-banyo-136183622

    Friends of mine is looking for their first home in Brisbane northside and are considering this place.

    To me, it doesn't make sense at $800k plus, but I don't know what's happening on the ground. They are looking at it as a temporary PPOR which will become an investment property in the future.

    Really interested on what feedback you'd give them.
     
    VDK, 13th May, 2021
    #1
    vick likes this.
  2. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,058
    Location:
    Vaucluse, Sydney.
    Not for over 800k at 18km from the CBD. No chance I'd buy that small lot.

    Much better buys closer with more land content. Unless they have a very good reason for wanting that area.
     
    Last edited: 13th May, 2021
    Sackie, 13th May, 2021
    #2
    Rugrat, MWI and David_SYD like this.
  3. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,058
    Location:
    Vaucluse, Sydney.
    Last edited: 13th May, 2021
    Sackie, 13th May, 2021
    #3
    MWI likes this.
  4. Whitecat

    Whitecat Well-Known Member

    Joined:
    3rd Jul, 2015
    Posts:
    4,496
    Location:
    Sydney
    would I choose Banyo in that location (assuming flood free which I think it is) - Yes absolutely.
    Would I buy that stock type at that price? No way.
    Watch for high rise rezoning. Banyo is a good spot.
     
    Whitecat, 13th May, 2021
    #4
  5. MWI

    MWI Well-Known Member

    Joined:
    17th Jul, 2017
    Posts:
    2,287
    Location:
    Lower North Sydney NSW
    I prefer to buy at median or below or at value for a particular suburb but with possibility to improve down in time, or bigger block, or corner block, or to extend the place or even to cosmetically renovate, just my strategy now.
     
    MWI, 13th May, 2021
    #5
  6. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,058
    Location:
    Vaucluse, Sydney.
    All great angles to pursue imho. I like them all, given the right deal.
     
    Sackie, 13th May, 2021
    #6
    MWI likes this.
  7. MWI

    MWI Well-Known Member

    Joined:
    17th Jul, 2017
    Posts:
    2,287
    Location:
    Lower North Sydney NSW
    Agree, have grown maybe a bit wiser over the years? o_O
    Have land banked now quite few blocks over > 1000sqm, thanks to pointers from JLF!
    Pity we don't live there as so many opportunities exist there as in comparison to SYD at the moment, IMHO!:)
     
    MWI, 13th May, 2021
    #7
    Sackie likes this.
  8. Sackie

    Sackie Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    25,058
    Location:
    Vaucluse, Sydney.
    I think a lot more opportunities exist there for sub 2 mil budgets.

    Sub 2mil in Sydney is child's play.
     
    Sackie, 13th May, 2021
    #8
    MWI likes this.
  9. Rugrat

    Rugrat Well-Known Member

    Joined:
    16th Jul, 2015
    Posts:
    376
    Location:
    Australia
    Only had a 2min look at the property and the location.
    I would have no issues buying the property, but not at 800+k.
    I don't know the market there, but just after a quick eyeball, it seems too high for what it is.

    Could be wrong of course. But I wouldn't buy anything unless I had studied and knew the market well, and was confident of value.
     
    Rugrat, 13th May, 2021
    #9
  10. novice88

    novice88 Member

    Joined:
    14th Apr, 2021
    Posts:
    7
    Location:
    Sydney
    novice88, 14th May, 2021
    #10
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