http://www.realestate.com.au/property-house-qld-varsity+lakes-116003047
Independent review:
Large 5 room (4 bed + study) 3 bath freestanding house, near Varisty Train Station.
Asking A$698000, 640 sqm. (others sold for $ earlier this year)
Positives
- affordable and great for a growing family
- close to Pacific Hwy, school zone, train station, Bond University
- built in ceiling fans
- spacious kitchen (though kitchen colour scheme leaves something to be desired)
- Outdoor entertainment area well paved.
- Spacious bedrooms and built in wardrobes
Negatives
- The colour. Both inside and out. (A personal thing though). If the outside paintwork didn't look like mud, and the inside floorboards didn't look like a cheap rental, then I would have inspected the property.
- Dated
- The houses next to this house have a more neutral colour scheme.
- More of a live-in than rental.
- Close by no cigar, you will need to drive or bike everywhere.
- Has a pool which is more a negative in this case for upkeep
- If target market is a young family, there isn't much grass to kick a soccer ball, which is expected at this price range and location.
- Odd shaped rooms reduces useable space
Research:
Land value: $220,000
Last sold for $555,000 in 2005.
Varsity is a bit of a confused suburb on the Gold Coast. Compared to Robina isn't relatively cheap, compared to it's other neighbouring suburbs, it's relatively expensive. This makes it a risky investment decision. High end buyers would want to live in the newer or more expensive zones in Robina and Varity Lakes. Budget savy mums and dads could save a pretty penny by investing or buying into Burleigh Waters or Mudgeeraba. Many apartments in Varsity are struggling with an oversupply and under demand. The risk is less for houses at least.
Repayments: approximately $4,131/ month + water/rates approximately $300/month
Personally, I wouldn't pay more than A$620,000 for this property as an investment, but if you have a large family, this may also make a home at A$640,000. I don't think this property will inflate much in price over the next couple of years. The location, size and layout makes it more of a PPOR rather than an investment property.
Independent review:
Large 5 room (4 bed + study) 3 bath freestanding house, near Varisty Train Station.
Asking A$698000, 640 sqm. (others sold for $ earlier this year)
- affordable and great for a growing family
- close to Pacific Hwy, school zone, train station, Bond University
- built in ceiling fans
- spacious kitchen (though kitchen colour scheme leaves something to be desired)
- Outdoor entertainment area well paved.
- Spacious bedrooms and built in wardrobes
- The colour. Both inside and out. (A personal thing though). If the outside paintwork didn't look like mud, and the inside floorboards didn't look like a cheap rental, then I would have inspected the property.
- Dated
- The houses next to this house have a more neutral colour scheme.
- More of a live-in than rental.
- Close by no cigar, you will need to drive or bike everywhere.
- Has a pool which is more a negative in this case for upkeep
- If target market is a young family, there isn't much grass to kick a soccer ball, which is expected at this price range and location.
- Odd shaped rooms reduces useable space
Research:
Land value: $220,000
Last sold for $555,000 in 2005.
Varsity is a bit of a confused suburb on the Gold Coast. Compared to Robina isn't relatively cheap, compared to it's other neighbouring suburbs, it's relatively expensive. This makes it a risky investment decision. High end buyers would want to live in the newer or more expensive zones in Robina and Varity Lakes. Budget savy mums and dads could save a pretty penny by investing or buying into Burleigh Waters or Mudgeeraba. Many apartments in Varsity are struggling with an oversupply and under demand. The risk is less for houses at least.
Repayments: approximately $4,131/ month + water/rates approximately $300/month
Personally, I wouldn't pay more than A$620,000 for this property as an investment, but if you have a large family, this may also make a home at A$640,000. I don't think this property will inflate much in price over the next couple of years. The location, size and layout makes it more of a PPOR rather than an investment property.
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