Hi,
I’m looking at buying property for investment, and was looking at North Lakes in QLD, any thoughts? I have about 700k to spend, but am not sure if its best to buy a top end home for around 650k or to buy in the lower price brackets (I saw a really nice 4 bed for 519k on a 800sqm block)
Any advice would be appreciated
As an investment might be better to spread the risk? or are you looking to buy and flip at some point?
There are many different schools of thought here, but I will provide my 2 cents worth. Your intent here I presume is maximum growth as its an investment (with no intent to move in later at some point)
Have a look at some historical growth data in the area – previous sales, suburb trending etc, and you will likely find that % growth tends to be greater when buying in the median to below-median range of residential property. You will also find when buying in the upper range for investment in North Lakes, your rental yield will not be as attractive as when buying say 450-500.
Additionally, stick to the standard investment rules – land appreciates, buildings depreciate (so a larger block size for a fair price is always great!)
Good luck!
John
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