If you’re looking for Brisbane’s next property hotspot – check out this week’s featured “Investment Property of the Week.”
Hi I’m Paul Palella, Principal of Brisbane Buyers’ Agency. If you’re looking for a property with great growth potential check out our Brisbane Buyers’ Agency Property Buy of the Week. This is all part of our service to help our clients make smart buying decisions, easily.
This week’s featured property is less than 9km from the city which has recently sold for $625,000. This is a great price for an investor in an area that has seen steady growth . It’s fully renovated with deck and loads of storage so you could move right in, or rent it out at approximately $480 per week.
Brisbane Buyers’ Agency Feature Investment Property of the Week
This property is a smart property investment because of its:
- Around 9 km from CBD on Brisbane’s northside
- Close proximity to a Westfields shopping district, schools and parks.
- Situated near quality newly built contemporary and substantially renovated dwellings
Value for money:
- It’s great value as similar style homes in the same suburb which I have appraised have sold closer to $650,000.
- My personal thoughts are that the marketing of this home was below average with the photographs not doing this home justice. The actual sales process by the vendor himself was definitely lacking which also contributed to a great buying opportunity
- Almost no asbestos located internally with most wall and ceiling linings being plasterboard lined throughout
- Move right in – nothing to be spent in the short to medium term
Construction and fit out:
- 2 storey post-war home with 3 bedrooms, 2 baths and accommodation for 3 vehicles
- East facing
- Semi modern kitchen and bathroom
- Polished timber floors and painting in good condition.
- Ample internal storage
- Land area – 607 m2
- Potential to make a fourth bedroom and entertainment room on the lower level and create additional equity and boost current rental return
- The potential to create open plan living space to further enhance value and bring up to modern stardards
- Rear deck soffit would benefit with ceiling linings to smarten up the outdoor entertainment area
- With a modest budget this home can be made to shine as it has all the potential for a modern home feel with plenty of space
- This suburb is set for great growth – we know this based on our experience and analysis of comparative sales in the area.
- Plenty of opportunities to enhance value with this home coupled with a location that has seen home owners undertake major renovations and new builds
- Rental return in the order of $480 per week
- Local authority rates approximately $2000 per anum
- No maintenance or renovation costs – nothing extra to be spent internally or externally in the short to medium term
- Median house price and entry level for this location is approximately $630,000 (typically 3 bedroom, 1 bath)
- The immediate location historically has seen steady growth and equivalent homes 3 years ago were selling for approximately $380,000-$450,000.
- Tax depreciation benefit first year – $2500
- Tax depreciation benefit (10 year accumulative) – $15,900
- Property investors
- Home buyers
How do we know this is a smart buy?
We put this property through our proprietary property analytics tool, our Smart Buyers Index and it’s a great deal. Our Smart Buyers Index gives our clients the inside running on smart property investments in Brisbane. We’ve developed it from our more than 20 years in the property industry working as a registered valuer, quantity surveyor and in sales. When you work with us that means you can tap straight into our experience and save yourself loads of time, money and frustration.
Would you like help with your next property purchase?
As a property buyers agent based in Brisbane we are totally committed to helping you make a smart buying decision on your next investment property. We act independently and only select homes that meet our strict ‘smart buying’ criteria.
Our clients’ regularly tell us they engaged us because they were frustrated, and at the end of their tether, looking for a property in Brisbane that suited them. They were sick of wasting their time at weekend open homes and in the evenings – time that could be better spent with their loved ones.
We’d love to help you make your next Brisbane property investment or home purchase.
How do we work with you?
At Brisbane Buyers Agency, we help our clients make smart property decisions as easily as possible. We have a proven process and are highly experienced negotiators who regularly save our clients money, time and frustration. Our proprietary property analytics tool, the Brisbane Buyers Agency Smart Buyers Index, gives our clients the inside running on the true Brisbane property hotspots. We work on a flat fee arrangement, we do not work on commission, so you know exactly what your costs will be.
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