First time poster and purchaser and I'm really glad I found this site. I've been crunching numbers, surfing the net for months and generally just trying to soak up as much as I can wrt property and tax and whatever else I can pick up along the way. It's starting to look like I might put an offer down this week for a place for my wife to be and I.
We intend to purchase, let the current tenant stay in for another 3-5 months, live in it for 6 to qualify for FHOG and get a slight stamp duty concession, and then rent it out to people who want to be close to the city and transport.
It will be for a unit in a highrise apartment building (ten plus floors i think), with water views from the third or fourth floor. It's been on the market for a while though and I'm not sure if it's a lemon. It's on a main thoroughfare, one of the busiest you'll come across, but it's about a kilometre out of the CBD with great bus and rail within 5-10 minutes walk so i think it would suit and appeal to a young professional couple who want to be home by 6 and not have to get up at 5 in the morning.
The premises comes with a gym and a pool too so it sounds good lifestyle wise but unfortunately there also are some massive roadworks etc which will be undertaken for a year or so. We're inspecting shortly but I think the roadworks may also impact on the views.
Will the traffic from being on a main road outweigh the advantages of being in a prime transport location seconds out of town? I'm not as concerned about the affect on capital growth because Lord willing we wont have to ever sell.
I know there's probably lots of ifs and buts but I don't want to make a massive mistake or anything like that. In a nutsheel I'm probably just trying to get some reassurance that being on a busy road will attract people (students, young professionals etc not familieS) and that rents wont suffer because of it.
Any thoughts will be greatly appreciated, I would love to hear from people who have done it all before.
Thanks a million.How much can you buy it for ?
What is the rent you will get ?
Did you check the LEP to see if the views will be affected ?
How much are the service costs of the flat ?
How big is it ?
What are the average sale prices and how much do you earn ?etc etc…
You must be logged in to reply to this topic. If you don't have an account, you can register here.
