1 Boulton Road, Nerang QLD

Independent review:

Small, 2 bedroom unit in Nerang, next to Nerang Train Station. 

The developers are finally clearing the last of their stock for a great discount!

2 bedroom, 2 bathroom, 113 m2, asking A$286,900. (others sold for $320,000-$309,000 earlier this year)

Positives
- affordable and big enough to live in
- Rental potential $330-375
- 1 minute walk to Nerang Station, bus stop
- 2 car spaces, one garaged  
-Pool in complex, which is attractive to renters.
- heaps of depreciation, new property!
- good capital gains potential
- good quality trims

Negatives
- It's small, only middle apartments left.
- Unattractive at this price and limited space for renters- $330- 375
- body corp around $70/ week.

Research:
Land value:
Similar properties in complex sold for $309,000- $320,000 this year.

I'm a bit biased because a friend lives here. It's a great location, central to EVERYTHING. Really close to transport. BUT it's Nerang. Not a desirable suburb to live in myself, and the people who rent in this suburb are used to more space- a yard for kids, more bedrooms. So there is a lot of rental vacancy in this complex. IF you had the money, and dont' mind it sitting vacant for a while, this would be a great capital gains prospect. And it's a really afforable unit for the Gold Coast with capital gains potential.

Repayments: approximately $1600/ month + water/rates approximately $250/month + $280 body corporate

Personally, I wouldn't pay more than A$270,000 for this property as an investment, but if you have a small family, this may also make a good entry level home at A$275,000. Just be wary, don't buy this as a rental property investment if you are running tight on the budget. But I personally think this is a good longer term investment.

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10/1 University Drive, Robina, QLD 4226

Independent review:

Small, 3 bedroom townhouse in Robina close to Bond University. 

This property has been on the market for the last 6 months. Dropped in price from $315,000.

3 bedroom, 2 bathroom, 334 m2, asking A$299,000. (in the same complex, another is asking $290,000 for 2 bedrooms)

Positives
- affordable and big enough to live in
- Rents $440- $475 depending on whether rented as a whole welling or separate rooms (only during university semesters- Bond has 3 semesters a year).
- Close to Bond University -- but there are MANY housing options close to Bond University.
- Single level villa.
- 2 car spaces, one garaged  
-Pool in complex, which is attractive to renters.
- opportunities to renovate
- plans for the complex to be painted! 

Negatives
- Seems to be an oversupply of property near Bond University
- Property has been on the market for a long time
- Built in 1994, so much of the depreciation has been claimed.
- body corp $75/ week but townhouses in complex only paying $45!
- a fully rented property in complex sold for $280,000 this year
- Costs to renovate approximately $20,000 for new carpet, paint, kitchen.

Research:
Land value:
Last sold for $266,000 in 2006. Looks like built in 1994.

Real estate agent very busy and hard to get hold of, I think I tried to email them 3 times over the last 3 months, email replies contained about half of what I asked. The property looks like it's been taken off the market but it's still on many websites. If I was the owner, I'd probably get a different agent. We had the money to buy the property, but without an inspection, we are unlikely to even consider it.

Repayments: approximately $1770/ month + water/rates approximately $250/month + $300 body corporate

Personally, I wouldn't pay more than A$265,000 for this property as an investment, but if you have a small family, this may also make a good entry level home at A$275,000. Just be wary, it's got high body corporate. Good chance of capital gains after complex gets painted.

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4/17 Entry Drive Merrimac Qld 4226

Independent review:

I'm glad it sold. Really good purchase.

We visited the sales office and display a while ago. 
3 bedroom, 2 bathroom, 199 m2, asking A$420,000

Positives
- Big for a townhouse. 3 decent sized rooms.
- Close to highway, schools, hospital, shops- but can't get by without a car. 
- Rent projections of over $400 for 3 bedroom townhouses.
- There is an upstairs outside entertainment area- which is a really good idea, private
- obviously heaps of depreciation available.
- suitable for young and middle aged families
- overlooks heaps of greenery
-I love, love love, the stairs. It means you can pretty much put whatever you want underneath.
- really easy to keep clean, bottom floor completely tiled.
- there is even a small deck outside
- Cheap body corp- pretty much covers building insurance, and pool maintenance.

Negatives
- Trainline close by- will need to keep windows shut for noise.
- Moderate quality kitchen- really designed for renters
- number 4 is really unlucky to asian buyers, so you won't be able to on-sell to asians
- unfortunately, this area is transient, and not unknown for petty theft.


Research:
Price negotiable, so speak to your agent.
Really good price for this decent sized home.

Repayments: approximately $2486/ month + water/rates approximately $250/month + body corp

Personally, I wouldn't pay more than A$400,000 for this property as an investment, and I'm not sure what the purchaser bought it for. This is excellent for a small family, spacious, but an even better investment. The area is filled with renters.

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172 North Hill Drive Robina Qld 4226

Independent review:

New townhouses in Glades golf course: North Hill.

We visited the sales office and display a while ago. 
3 bedroom, 2.5 bathroom, 160 m2, asking A$560,000.

Positives
- BEAUTIFUL location. Overlooks golf course greens- Glades
- Close to highway, schools, hospital, shops (3 min to Robina Town Center).
- Rent projections of over $500 for 3 bedroom townhouses.
- Low body corporate: shared pool
- HUGE rooms. It's hard to find townhouses with rooms this size, with minimal space wasted
- obviously heaps of depreciation available.
- suitable for young and middle aged families
- can walk around in golf course outside working hours- I saw a couple doing yoga there
- Really great decent sized kitchen, good materials.
- Great design- heat from carport won't rise to living areas
- A proper yard

Negatives
- A bit expensive for a town house, but much cheaper than houses in the estate.
- Gated carport not garage
- Golf course built on a flood zone, so 1-2 times a year, it will be flooded, leading to mosquitos.


Research:
Price negotiable, so speak to your agent.
Again, first stage completely sold out. This stage almost sold out! Earlier developments by this group are now sold at a loss (I suspect that is because the initial price tag is too much).

Repayments: approximately $3314/ month + water/rates approximately $250/month + body corp

Personally, I wouldn't pay more than A$500,000 for this property as an investment, but developers won't sell at this price. Outside of my price range for a townhouse. If you had the money, this is an excellent home for the family.

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6 Malanda Pl Robina Qld 4226

Independent review:

Large 5 bedroom waterfront house in Robina.

4 bedroom + study, 3 bathroom, 1023 m2, asking A$850,000- $900,000

Positives
- Rents about $1000/ week.
- Good price range for a property this size, and waterfront. At the peak of the last cycle, this house would have sold for at least $1 million.
- Close to shops- Robina Village is just around the corner. Robina SS, All Saints, and other schools within 15 minute drive. Q Super center within 5 minute drive. Bond University is only 10 minutes away.
- Really close to good parks
- large double garage, and plenty of space to park inside security gates.
- all the standards for a house this size- built in wardrobes, double + bedrooms upstairs, study nook, and 2 smaller rooms downstairs with complete bathroom.
- Spa bath
- Balcony on the second floor looks over water, and allows for good star gazing
- Huge deck area and pool to take advantage of the view
- if you are into fengshui, the house is quite well designed
- Really private area of Robina.
- Built really high so even with floods and rising water levels, it won't be an issue. I've heard that fishing is not bad too.

Negatives
- This is a house that needs ongoing maintenance.
- Huge deck needs to be oiled yearly.
- Need to hire a gardener to mow lawn and clip scrubs
- Not a great location for rentals.
- Pool doesn't have a fence that complies with regulations.
- if you aren't into fengshui, you will hate this house. There are so many pentagon shapes throughout. 


Research:
Land value: $540,000
Listed $295,000 last year in A$2002 (probably just land). $170,000 in 1993 (probably just land).

Really great presentation by the agent, and he is super helpful and knowledgeable about the property too. Owners are selling up (already have a property) and getting a property need the university for their kids. 10 year old property, looks in good condition, need probably about $20,000 to make it a home- new pool gates to comply with legislation, reoiling deck (big deck, needs to be reoiled each year), needs new carpet and probably a fresh coat of paint.

Repayments: approximately $5268/ month + water/rates approximately + insurance

I think this property is priced pretty well for the location. I would place an offer for $835,000 if I had to live there (it's close to my current workplace), about 35 minutes to Griffith uni (no traffic) and 10 minutes to Robina Town Center. Not great as an investment rental property. Location isn't really close enough to schools or to work places to warrant rents that would cover the mortgage. Capital gains from the land though will be the most likely area of value.

This is a good buy for capital growth. And a great home on the Gold Coast.

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2/27 Nina Parade Arundel Qld 4214

Independent review:

Small, 3 bedroom duplex in Arundel close to Griffith university and hospital (5 minute drive).

3 bedroom, 1 bathroom, 100 m2, asking A$359,000.

Positives
- Rents about $360/ week.
- affordable, with a large yard for the family.
- Close to Griffith university and Gold Coast Hospital (1km). NOT walkable distance, but if you ride a bike it's fine.
- Close to schools and parks
- Won't have a problem finding someone to rent
- No body corporate, just pay building insurance, approx $600/ year
- 2-3 car spaces, one garaged  
- newly renovated, so depreciation allowances available
- built in wardrobes

Negatives
- about 20 years old
- It's tiny, I mean 100m2, with a bulk of that being the large yard
- Unlikely to be able to add any value to it, maybe a car port.
- The renovation still needs work. The trims aren't completed, because small children already live there, there are signs of wear and tear. so a fresh coat of paint is probably needed. 
- only single garage, not automatic
- the exterior leaves something to be desired, I mean, if you look outside, the neighbours fence and trees look like they are about to crash through your window-- I hope they have bought insurance.
- and since it's a duplex, it's unlikely, you are able to knock down and build something else.
- maybe pay $4000 to get it rendered but anything you do will be a risk of over capitalising.
- It will be hard to make any significant capital gains at this price, unless a developer wants to buy out 


Research:
Listed $320,000 last year in April. $134,000 in 2001.

Real estate agent really prompt with responding to online inquiries. And a friendly bloke. The pictures look a lot better than the property does in real life. Hats off to the agent.

Repayments: approximately $2125/ month + water/rates approximately $250/month + insurance

I think this property is priced pretty well for the location. I would place an offer for $350,000 if I had to live there (i.e. I had to rent nearby because I worked at the hospital or university), don't expect a huge amount of capital growth but it's probably going to be on par with rent. For an investment property, I would place an offer at $340,000 because there really isn't much depreciation incentive left on this property. And because the outside is just ugly and there are plenty of other options nearby. It's more a home for a small family, in the short term if anything.

Owner- builder is upgrading to a bigger property. Get in quick if interested, as I was leaving, I saw an asian male make an offer.

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The islands, Emerald Lakes, Carrara

Independent review:

New off the plan townhouses in Emerald lakes

We visited the sales office and display a while ago. 
2 bedroom, 2 bathroom, 150 m2, asking A$394, 900.

Positives
- BEAUTIFUL location. If you have never been to Emerald lakes, you need to. It's simply spectacular.
- plenty of walking tracks, and fancy a kayak anyone?
- Rent projections of over $400 for 2 bedroom townhouses.
- Low body corporate: no facilities besides communal lake, roads. (under $50)
- Good location, close to schools, rail (Nerang), shops (BUT I don't think you can get by without a car).
- 10% deposit, nothing to pay till next year.
- obviously heaps of depreciation available.
- suitable for young families
- waterfront property
- markets in the estate for fresh produce
- double car spaces
- plenty of light in the kitchen area
- built in wardrobes, decent sized rooms

Negatives
- It's only 150m2, so not suitable for larger families. And expensive given land area.
- There are 3 floors which makes for a lot of exercise, and not suitable for elderly.
- Carport not garage
- heat from cars will rise to living area
- Not much of a yard or much personal space at all for this price.
- Truly off the plan, so you can't really see what it will look like.
- Not a lot of storage space


Research:
Expected completion is early next year, settlement 2014. Stage 2 to follow, so can wait to see finished product. Price negotiable, so speak to your agent.

Again, much of this first stage is sold, many Asian buyers.

Repayments: approximately $2338/ month + water/rates approximately $250/month + body corp

Personally, I wouldn't pay more than A$350,000 for this property as an investment, but developers won't sell at this price. Fit and healthy young people would love this as a home.

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The Crestway, City living, Robina- off the plan

Independent review:

New off the plan houses in Robina.

We visited the sales office and display last week.
3 bedroom, 2 bathroom, 160 m2, asking A$469,000.

Positives
- No body corporate! Because it's on private roads

- Rent projections of up to $500, but I'd say use $450 in your calculations.
- Stage 1 and 2 of garden way (same design) already sold out, so there is demand for this type of property
- Solid steel construction, so sound proof
- Low maintenance, gardens all paved.
- Plenty of storage
- Good location, right behind McDonalds in Robina Town Center.
- Close to schools, rail, shops, hospital. 
- 10% deposit, nothing to pay till next year.
- obviously heaps of depreciation available. 
- Inside is bigger than it seems, decent double sized bedrooms.
- Surprisingly enough light and space.
- suitable for small family or friends.

Negatives
- Stage one is not idea, still a bit far from Robina Town center.
- It's only 160m2, so not suitable for larger families. And expensive given land area.
- The laundry is on the top floor, so they expect people will use the dryer
- Not much of a yard or much personal space at all for this price.
- Really steep single staircase- NOT suitable for empty nesting elderly people.

Research:
Expected completion is early next year, settlement 2014. But worth looking out for stage 4- waterfront. And stage 2-3, closer to access roads.

Most of this stage one has been sold, or reserved. I suspect a lot of Asian buyers here, because only the numbers 4 and multiples of 4 are left- a really unlucky number. So either put up with heaps or other renters or sounds of mahjong long into the night.

Repayments: approximately $2776/ month + water/rates approximately $250/month

Personally, I wouldn't pay more than A$450,000 for this property as an investment, but developers said there is no room for bargaining. For A$469,000 if you want to drive, you can easily buy a property with double the space 5 minutes away.

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7 Dillon Court Mudgeeraba Qld 4213 : Review

Independent review:

Small, free standing investment/ home in Mudgeeraba.

We visited this property on the weekend.
3 bedroom, 2 bathroom, 527 m2, asking A$339,000.

Positives
- No body corporate, free standing property
- affordable
- Tenants probably happy to stay, at under $400/ week rent, why wouldn't they
- Close to Robina Town Center, close to schools (Kings, Somerset)
- Flat property, possible expansion possible (at least another garage/paved area outside, and possible another room out the back. 
- It's probably the worst presented house on the street, which makes for easy capital growth.
- All rooms have built in robes.
- For the kids, there is a little park + bush area to explore.

Negatives
- It's literally right on the back of the highway
- It's a hammer head property, no frontage on the street
- It probably isn't a home I would live in, purely for investment purposes.
- Built in 1998, so much of the depreciation has been claimed.
- interior a bit cramped and starting to show serious wear and tear
- Most of the other properties in the area are small, so even with extensions, may over capitalize.

Research:
Land value: $192,500
Single Unit Dwelling
Last (part sale) 2006 for $160,000, 2001 for $145,000, 1996 for $151,100. 

On a side note, I think the real estate agent did a really good job on the open house, presentation, and photos. I'd use them again. Unfortunately, only 3 people turned up to the open house. 2 investors and a small family. 

Repayments: approximately $2000/ month + water/rates approximately $250/month + insurance

Personally, I wouldn't pay more than A$300,000 for this property as an investment, but if you have a small family, this may also make a good entry level home at A$339,000.

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