Ianevs

Hi all,
Anyone know of nice areas to move to with a budget of $260,000 to buy a property? I`m quite flexible and would consider rural areas. I would prefer sunshine coast because of the climate and would ideally be near the beach (dreaming maybe). A doer upper or block of land would be considered as I have experience doing this in the UK. Thanks in advance

moneypenny20

Personally I would have to know if I could get work in a specific area before anything else. I think you are dreaming to think you can get a near to beach property for that money and even if you get a block, you still need money to build a property. However, check out realestate.com.au and put in the amount and see what comes up.

Good luck.

bcworld

There will be plenty in Gympie around that mark....it's Sunshine Coast (hinterland) at a push.....depends what you consider near a beach really....half hours drive??

Ianevs

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asprilla

as Del boy used to say- "au contraire, rodders".

It is actually still possible to purchase a duplex for $270-$300k on the sunshine coast, within a 6 or 7 min walk of a stunning, quiet beach. (Ok, a duplex might not qualify as a house, but that's another argument.)

Only problem is, your lounge will be located approx 150m away from the runway of a regional airport, and you'll be living in an area with practically zero jobs.

You'll need around $400k-$500k to get a decent place near the beach (in my opinion), but as Moneypenny has said, the location of your work is the key.

Wendy66

As another poster says Gympie, also we went up to Hervey Bay seemed to have everything there you'd need, beach was lovely, liked the area and plenty of cheap properties.

More inland, Nanango, Imbil, Kenilworth the later about 25 mins from Gympie and Nanango about 2 hours inland but near a large town with everything most would need.

quoll

You'd get something for that down in Gippsland (East) around the Orbost area which is close to Marlo but you would be pushing it to find a job in the area. Climate's not so bad either.

Broad Shoulders

As an FYI, I would say that Aus is not the best place to carry out that type of project.

My mum and step-dad have made a career (and now small fortune) buying up crappy places and doing them up and selling at a huge profit. Over the last 20 years they have done this to approx. 20 places (in three different countries).

When I moved out here they researched like mad the Aussie market to see if it was worth their while doing the same here. They found that because of the restrictions in place (needing various licenses to carry out certain work) they would be forced to employ third parties to do some of the work that the profit percentage just was not worth their while.

I've seen it in action too. The missus' friends and family have done this in various locations and some have barely made a profit, and that was selling before the bubble burst

Vash the Stampede

On the flip side, my mother and her husband have been doing this for more than 10 years. They currently have a portfolio of about 7 houses, at least two of which are completely paid off (one of these being their residential home).

My mother's husband is an excellent handyman (though he's actually qualified as a teacher) and can perform most basic renovation work without any trouble (paving, bricking, tiling, floorboards, simple plumbing, etc.). Since they make a point of never buying a property that would require extensive professional work, their overheads are low and their profit margin is excellent.

Broad Shoulders

but are they selling them or renting them out?

Funny, my stepdad is a teacher too. Are we talking about the same parents brother?

furkew

I would have to agree with Vash. We have bought, renovated, lived in then sold 3 places in Holland over the last 15 years, and done very well. The place we now have in Victoria has been heavily transformed by us, and although we dont plan on moving for a good few years yet, it is worth about 75k more after costs than when we bought it 18 months ago. Next on our list is a fixer upper to buy & either sell or rent out. You cant earn the same big bucks as Europe, but you can earn a nice little "extra" on top of your normal earnings.

If you are involved in renovating on a regular basis, you will always have your regular tradies. We already have a few friends/tradies that we can call on if we have work needing to be done, and dont pay the earth for it.

Vash the Stampede

Both.

They start by living in the house they're renovating until it's finished. Then they either sell it immediately or rent it out for a while and sell it when the market is favourable. My mother used to be a real estate agent, so she has a pretty good eye for a bargain.

I reckon they've sold about half a dozen houses by now, including the one they bought off me.

LOL, I doubt it.

Ianevs

Thanks all for the replies,
Hervey bay looks good for tradies work and house prices and more importantly climate.

Ianevs

Anyone with any more suggestions?

ABCDiamond

How rural ?

$250,000 3 beds, 1 bath



Lamb Island, just off Redland Bay, about 40k to Brisbane.

The cheapest on the island is $199k
Last 6 sales on Lamb island from one agent have been:

• Atlantic St $151,000 3bed May 2009
• Tina Av $300,000 2bed Apr 2009
• Leonie Cr $116,500 4bed Mar 2009
• Lucas Dr $225,000 3bed Feb 2009
• Leonie Cr $165,000 3bed Dec 2008
• Michael Av $245,000 2bed Nov 2008

The most expensive house currently for sale on the island is $830,000, excluding the B&B types at $1M +

The Ferry takes 20 mins each way, and costs $5.15 e/w on a multi ticket.