What do you think about High rise (6-8 story anyhow), upmarket (resort style with security, pool, sauna, gym, etc) apartments within 5 min walk to the shopping centre, RSL, library, bus terminal, restaurants, etc??
I am looking more to buy off the plan as investment but it will be the only property I own in an attempt to start getting some captial happening and I would live in it for 6mths if it would benefit (eg. FHOG – not sure if I forfeit option of FHOG in Qld if I buy investment property first).
Is the Chermside area too busy? Or is it becomming a ‘satelite CBD’ for northern suburbs as I’ve heard? Would there be a reasonable chance of capital growth (not talking millions, but not going backwards would be good!) There are limited developments like this in the area at the moment, mostly townhouses or the older housing.
Very new to all this and would really appreciate any advice possible – I have parents who are VERY CAUTIOUS and no matter what property I look at they find something wrong with it and try to talk me out of it…I’d hate to jump in and have them proved right on this one, but its time I did something as I’ve been hovering for 4 years!!
Thanks!
Personal opinion here, but tall developments tend to have higher costs (body corp). Also, there are more things that need fixing, especially lifts.
I don´t think you should think of it as ´I´ve been waiting for 4 years so I have to move now´. The cycle is moving down so if anything you have plenty of time do your research, etc.
What would be your reasons to buy that highrise off the plan as opposed to, say, buying an established unit or townhouse? Why do you think the highrise will perform better? I´d ask myself those questions.
Alex
You must be logged in to reply to this topic. If you don't have an account, you can register here.
