Hello everyone! I am a new member here and this is my first post.
I'm from NSW, but planning to build my first investment property in Beaconsfield, Mackay. It's a land+construction package.
My question is does Beaconsfield get flooded regularly? What sort of insurances are available for flood affected houses? Are those expensive and cover all the damage?
Also what do you people think about investing in Mackay in general?
If a discussion regarding this topic in already going on somewhere, moderators please feel free to move it in the appropriate section.
Thanks in advance.If it is a newbuild, the council won't have allowed it to be built in an area which is subject to flooding (in theory at least).
HiSmm91,
I maybe able to help, as I have lived 5 minutes up the road for the last 2 years. I've seen a new McDonalds, Woolworth's and hardware store ( Porter's ) built at "Rural view" within that time so that's a pretty good indicator. There is also new school about to be constructed there and the rental properties up here are always hard to come by.
The housing estate your looking at buying into is not in a flood area, but I would suggest you come up and take a look for yourself, I would personally feel more comfortable having seen the local area and the block before I would sign anything.
While your up here, I would suggest you go to the Eimeo pub for a drink, its an awesome spot overlooking the ocean.
Good luck !
Smm91 wrote:Hello everyone! I am a new member here and this is my first post.
I'm from NSW, but planning to build my first investment property in Beaconsfield, Mackay. It's a land+construction package.
My question is does Beaconsfield get flooded regularly? What sort of insurances are available for flood affected houses? Are those expensive and cover all the damage?
For QLD flood information look at this govt website http://www.qldreconstruction.org.au/interactive-map/then click on the "search" box and type in Mackay.(or even the address)
zoom in and click on the "Interim flood plain assessment overlay" button and bingo, there is your flood risk areas.
Whether this correlates to actual floods I don't know, but for further western towns like Emerald you can get aerial photographs during major floods on the same page by clicking the icons at the top about various floods. Helps you see which bits of town actually went under and which bits didn't.
Thanks very much everyone for the help.
Yes Dubstep, I'm planning to fly in there for a couple of hours this weekend. Do you think $545K all up is too much for a 4×4 ( all rooms air conditioned) house around that area?
House Call, thanks for the link. Are the red areas in the map when you complete a search the flood risk areas?Smm91 wrote:Thanks very much everyone for the help.
Yes Dubstep, I'm planning to fly in there for a couple of hours this weekend. Do you think $545K all up is too much for a 4×4 ( all rooms air conditioned) house around that area?
House Call, thanks for the link. Are the red areas in the map when you complete a search the flood risk areas?No the red squares are different mackay urban areas. Click on the "Clear" icon and the red bits disappear. It is the irregularly shaped yellow bits are the flood risk areas. You can make them more yellow with the slider thingy
House Call wrote:Smm91 wrote:Thanks very much everyone for the help.
Yes Dubstep, I'm planning to fly in there for a couple of hours this weekend. Do you think $545K all up is too much for a 4×4 ( all rooms air conditioned) house around that area?
House Call, thanks for the link. Are the red areas in the map when you complete a search the flood risk areas?No the red squares are different mackay urban areas. Click on the "Clear" icon and the red bits disappear. It is the irregularly shaped yellow bits are the flood risk areas. You can make them more yellow with the slider thingy
Thanks very much once again.
Hi Smm91,
$ 545,000 is probably about right but offer $525,000 and see what the response is.
If you don't ask, you dont get !
4×4 is great. Rent it out to corporates fully furnished for a great yield.
Hi Smm91,
How did you go in Mackay, did you put in an offer ?
Dubstep wrote:Hi Smm91, How did you go in Mackay, did you put in an offer ?Hi Dubstep, It went well in Mackay. I actually signed the contract for land. I liked the place. The block of land was a bit elevated and mattnz was right, they don't give permission to build new construction in flood affected areas. The street is still not in google maps. It's called Oldmill drive/ Deguara drive. The area is not very far from the harbour.
It's a land+build package, so there wasn't much room for negotiation. The package was already sold once about two months ago, but the buyer decided to pull out for some reason. The land price increased about 25-30k within that time. The developer didn't know that it came back. I had the deal with builder who gave me the land at itsoriginal price. It's a 595 m2 land and I got it for 190k. I still haven't signed for the build contract, but i'll have to do it very shortly. Then there's contract settlement period of about 35 days and financing time. Hopefully, if everything goes right, i'll have the construction commencing for my first IP or property in general in about a month and a half's time.Hi Smm91,
Good for you ! !
Mackay is a good place to start with the outlook for growth in the area being positive, there are mining expansions and also big investments in the mining services sector at Paget ( close to the Mackay airport )Keep us posted on the developments.
Hi everyone,
I am looking at purchasing my second investment property. The first was bought in June 2010. It is a converted warehouse apartment in Chippendale, 2km from Sydney CBD. It is 50sqm, has a large full bathroom, a lovely leafy private courtyard and over 800sqm of a common landscaped rooftop with city skyline views. I plan to convert the 50sqm into a 1-bed (currently it is technically a studio) for instant equity. Other units that have done this have sold for 500K+.
The second purchase I am considering is a House & Land Package in Beaconsfield, Mackay. The location will be on Cnr Beaconsfield Road & Mansfield Drive. The land cost is 155K for 307sqm and the house, which will come fully tenant ready costs 284K. A total of 439K. The house will be 3-bed, 2.5-bath, double garage.
Construction will take part with Murphy Builders.
I was hoping for some feedback regarding:
-Location
-Price
-Building companyHas anyone used, heard about, or seen any of Murphy Builders products? What do you think about the location? And finally, price?
Any advise, feelings, thoughts is much appreciated, particularly as I am not familiar with the Mackay area.
Many thanks!
DanniK
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