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.
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)
- 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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