The $700k Investment Challenge
New Build Townhouse in Victoria
So , you want to invest but your budget is around $700,000 AND you want to take advantage of the benefits of a New Build…so where in Australia are there House and Land Packages in that price range?
Let me run you through a few options **PLEASE NOTE- this is not Financial Advice.
Firstly there are some New Build Townhouses in Cranbourne, about 40 minutes out from the Melbourne CBD.
The prices range from $670,000 for a 3 bedroom tri level townhouse with a single garage to around $700,000 for a 4 bedroom one with a double garage.
These townhouses are gorgeous, I have personally walked through a few of them. They come complete with timber flooring, a beautiful kitchen with a lovely island bench…and I was really impressed by the vanities!! The fittings are beautiful and top class….making these townhouses a very comfortable home for prospective tenants.
The area is near shops , schools and the train station is not that far away….very handy for tenants working in the city.
Rents are around $560-$630 per week.
Next would be Queensland- the whole state seems to be booming and the infrastructure around certain areas is big!! and bringing in alot of people to the towns.
Areas around Hervey Bay are being snapped up and are becoming a place where downsizers and families are settling, to take advantage of the beautiful location and the abundant amenities.
There are some 4 bedroom house and land packages with separate living room and double garage for $749,000 in the suburb of Howard -around 30 minutes West of Hervey Bay.
The thing that always impresses me with Queensland ,is the amount of Infrastructure in place. Around the Hervey Bay area alone you have the Fraser Coast Hospital, the Hervey Bay CBD redevelopment, Hervey Bay Airport, Susan River Solar Farm, Bruce Highway Upgrades…all these bring people and prospective tenants to the area….and let’s not forget about the gorgeous ocean and the rivers.
Rental around Howard and the general Hervey Bay areas are approx $650-$700 per week.
and Lastly would be South Australia
There are some major redevelopments of farmlands happening outside of Adelaide.
The pricing for a 4 bedroom home with a single garage is around $750,000-this is for a Turnkey Package- meaning the home will be completely finished inside and out.
Areas like Virginia and Munno Parra Downs are around 40 minutes from Adelaide CBD, and with the upgrade of the Lyell McEwin Hospital and the Playford Health and Wellbeing Precinct as well as road and railway expansions, these areas are becoming a place for prospective tenants to consider.
Rents around these areas are $650-$680 per week.
As I always tell my clients , it is ideal to hang onto your investment for at least five years (or ideally not till retirement), I think the days of building and selling straight away, are well and truly over.
All these areas will continue to grow in demand over the years , (I think back to our first investment in Runaway Bay Queensland- we brought a House and land Package for $300,000!!-unfortunately we sold it -but that house would be worth well over 1 mil now) so maybe despite all the doom and gloom in the headlines, it might be the best time to buy now.
If you would like more info please contact me, Kerri-Ann on 0402 107 194.