If you’re looking for Brisbane’s next property hotspot – check out this week’s featured “Investment Property Buy of the Week.”
This week’s featured property is a modern take on a Queenslander that was a renovator’s dream. It is approximately 6.5 km from the city in an emerging suburb which features predominately of post-war homes and large contemporary family dwellings. It was initially purchased in October 2012 for $392,500 and subsequently sold recently for $655,000. This is a great example of a smart buy and how you can renovate for profit. The floor plan and area is unchanged from initial purchase.
Brisbane Buyers’ Agency Feature Property of the Week
This property is a smart buy because of its:
- Located approximately 6.5 km from Brisbane CBD
- Close proximity to major shopping district, neighbourhood shops, schools, cafes and parks.
- Land area – 433 m2
Value for money:
- This 2 bedroom home with sleepout was purchased for $392,500 in October 2012 in very poor and almost unlivable condition.
- The following is my estimate of the renovation costs:
INITIAL ACQUISITION COST
Purchase price $392,500
Add for stamp duty and transfer fees $13,200
Total acquisition cost $405,700
Polish timber floors
Total renovation costs $72,000
Sale Price $655,000
Less sales agent commission $18,012
Net sales amount $636,988
ESTIMATED CAPITAL GAIN $159,288. This is based on net sale amount of $636,988 – ($72,000 + $405,700)
Basically the renovation cost of $72,000 yielded $79,000 profit margin that is 109% return on investment if you subtract the increase in the value due to market growth. If you are handy with tools and undertake some of the work yourself you could potentially increase your profit margin.
- Property investors
- First home buyer
- Home renovators
How do we know this is a smart buy?
This property was a smart purchase for first home buyers, a young couple, looking to renovate and gain some financial uplift in the market and experience in home renovation.
We put this property through our proprietary property analytics tool, our Smart Buyers Index and believe it was a positive experience for first home buyers looking to get some experience in the property market. Our Smart Buyers Index gives our clients the inside running on smart buys 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 investment 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 property purchase. 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.
FREE session: “Brisbane Property Buyers Strategy Session”
Imagine being crystal clear on what’s most important to you, so you buy the property that sets you up best financially and lifestyle-wise. Book a free strategy session with us where you will clarify your Buying Brief and get some insight into property opportunities available in Brisbane right now.
This session is valuable to home buyers, investors and first home owners.
You will leave this session knowing exactly the type of property you need to help you grow a strong financial future and property portfolio.
To book your “Brisbane Property Buyers Strategy Session” register at the form to the right of this blog, call 0409 499 034 or email firstname.lastname@example.org