Dear All,
As you know I have posted a few things here and there, but I’m getting a serious ‘cold feet’ feeling about buying in Brisbane.
Many people who I have discussed this issue with, a diverse number of people in different professions ect – most of them very wealthy people are saying that long term investors are pulling out of property and that Brisbane may have had its day……….which has made me think.
I have done some research and the impression I get is that it will increase but something “” will happen.[
!]Is this just me getting a little nervous or is it a sentiment that everyone knows but doesn’t say much about?
It’s now got me thinking about the economy and the state of it and whether it is a right time to buy or hold off?
It’s never a “perfect” time to invest – there is no such thing.
I don’t know the Brisbane market but I’m sure that there are some areas that are still worth investing in. I always find it difficult to hear when people talk about the “property market” going south. It’s unlikely that the whole market will turn… maybe just segments of the market.
Stick to the fundamentals. A good asset is a good asset and will always perform well in the long term. Stay away from the hype (inner-city, etc.).
Maybe AD or Scott S can talk more about the Bris. market.
As Dolf De Roos says… the worst decision is indecision.
Cheers
Stu
Property & Finance News
at http://www.prosolution.com.auI know that it is a good idea in principle but……….there is always that element of risk – should I or shouldn’t I!
It’s a hard decision I will have to make soon…….which brings me back to where I started!
[
]So tankbuster tell me where and how much and I’ll gladly give my 2 cents worth…..if my advice is worth that much ??
Enjoy
AD [:0)]
(Andrew)“Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, ambition inspired, and success achieved.”
AD,
I’ve been seriously considering the hills area of Brisbane. I’m probably looking around the 250K mark – which I know is hard to find but there are a few out there. I’ve seen a few places around the 230-250 mark, that need some work, more TLC than anything else, but my objective is a longer term investment which I clasify as greater than 5 years.
I am from Sydney, but considering relocating to Brisbane / QLD once I have travelled – planned for August 2004. I have lived on the Gold Coast for 3 years while studying and really see Brisbane as an opportunity (I spent a few weeks with friends looking around – so I’m not an outsider wanting to get on the bandwagon) but I’m a little cautious – now even considering if it is a good idea?
I just don’t want to miss the boat but scared if the boat will sink!
Hi ya Tankbusterboy (what a name).Just look at when you were first thinkimg of buying an investment property. I bet prices have gone up since then. There is always some risk associated with any investment but as long as you buy a property and look after it (maintenance), you should be on a winner. A recent forecast sees Brisbane property rising by 36% in the next couple of years. Even if that is a bit out, you should have good growth. It’s always a bit daunting when “you’re playing with real money”, just do your research and I’m sure things will pan out fine for you.
Regards
MartyThis will be my first major investment into an investment property. When I mean major – over 200K. Makes me think…..
Regards,
BIf you’ve never borrowed money in big amounts, $200,000 appears alot. After awhile in the game, even $1,000,000 is not a big deal.
The basic question to ask yourself is “Can I service that loan of $250,000 & for how long?” If you can answer yes without any hesitation, then go for it. Property investing is long term. Eventually it’ll move above what you’ve paid.
Sorry to “jump in” on your topic, but i’m in a similar position… ie. looking to invest in Brisbane.
I would like to move to Qld in 5 to 10 years time and figure if i buy now whatever i purchase will more than likely be worth double that when i do actually get up there.
I “missed the boat” so to speak in Sydney, i’ve just hit my 30’s and only have my own home at the moment, which i’ve had for 10 years and has increased in value threefold… unfortunately i can’t really afford to invest down here as the returns are miserable. My 400K house would be lucky to see any more than 250 p/wk return.
Yet in Brisbane i can spend less than 200K and see a return of about 200 p/wk.Obviously Brisbane is the place to go !!
I’m spending a lot of time at the moment researching different areas and returns, vacancy rates etc, and suggest that any other 1st time investor would be mad not to…
I can’t see any reason why prices would drop, historically they only tend to level out, then rise again… But everyday you wait could mean you pay more… [
]Cheers,
Paul…Thanks Guys….
Its good to know that people have the same problems as myself.
I have no problem in repaying the loan but I’m starting to become involved!
I will keep you updated on my progress!
sorry to be a killjoy but your decision should not be based on your ability to repay the loan but on whether it is a sound investment. that type of thinking is exactly what is pushing the market up through the roof.
i can afford to pay for a car – doesnt mean its a good investment. c,mon
You’re correct, aussierogue. I should have stated after due diligence & that the property is a good buy.
Of course it matters if the property is a sound investment – that is the whole point of the purchase.
I am just remaining cautious because we are on a good wicket at the moment and while we are the lucky country, I do think some area’s are inflated due to the ability of people to negatively gear numberous properties.
Well, I have decided to take the plunge – but not so fast!!!
I have placed an initial offer on a 3 bedroom – around the Hills area of Brisbane. Nice location -I am going to have a look at the place on the weekend. It needs a bit of work and is 30K less that what my initial thoughts were to get into the market – which I then can put back into the loan and also spend a few dollars on minor alterations.
The only issue is that the backyard looks like a tip, the owner had a like for collecting things…..but this I feel with turn other investors away – but I see it as a definate opportunity.
Its a great price, in a very good location and the place just needs a little elbow grease!!
R[
][][][]Question? If I do purchase this – how much should I be looking to spend to make cosmetic changes to make the place look a little more inviting…..
Brad
Will keep you posted.
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