sukilou78

Hi
We haven't made the leap yet and are still at the research stage.

we have $160,000 cash
We want a complete lifestyle change
Therefore wanting to buy outright somewhere nice in Queensland.
It is like a minefield out there in the property market.

We are realists and know that there isn't alot around for this price, but there are still some bargains to be had.
But we have no idea what the areas are really like.

Ideally it has to have 3+ beds

I would be really grateful for all of your help
Thanks
lou

Dorothy

You're joking, right? $160000 for a 3 bedroom house? I think you will be lucky to find a 1 bedroom flat in a crap area for that price anywhere near Brisbane. Take a read of www.realestate.com.au or www.domain.com.au for houses and the costs of them.

sukilou78

sorry, meant north of queensland
nowhere near Brisbane

scamp1976

Don't buy now, wait a few months / years for the houseprices to fall. Invest your money somewhere else, housing is tipped to fall a further 40-50%
When the FHOG ends in july we'll see drops. When unemployment rises we'll see more drops, when people on temp visa are evicted we'll see more drops, when banks go bust we'll see more drops, etc
It's far from over.

Pollyana

Most of Queensland is north of brisbane, and you may still struggle to find 3 bedrooms for $160,000. How far north do you want to go? What are you looking to do for a living? No good taking a house in the sticks if you need to work in a town, for instance.

bu1lder

Well.........arnt we a barrel of laughs.

nigel and wendy

but realistic

POW148

is your glass half full or half empty.


I really dont think there will be much available to you for $160K even if house prices tumble. You may find that there are some bargains in rural towns but you have to weigh up what lifestyle you actually want and how you intend to pay for it against where you end up living. It is no good buying a house inland for your price ticket if you actually want to be a surf/beach bum.

Good luck with it all.

Barney

nigel and wendy

i was refering to scamps post...........and its not even full yet !!

Red_V_Roger

[QUOTE=scamp1976;7422203]Don't buy now, wait a few months / years for the houseprices to fall. Invest your money somewhere else,[QUOTE]

What at 3% interest less tax or on a downward stock market?

bobbyfaescotland

Well the good news is that you will be able to use the money for a deposit on a house, but you will still have around a $200,000 mortgage.

Or Anaconda are doing some good deals on camping equipt, and you can stay outside in a field.

jad n rich

Look in outback towns, not only real life australia but you could probably buy 2 houses.

Say you were a teacher the sort of place you might get sent anyway.

DownUnderPaddy

Seriously, that will make for a great deposit, but thats it.

bourbon-biscuit

There's heaps of property for 160K and under in Queensland- just not near Brisbane or the sea. Would you be happy to head to an outback town?

It wouldn't be for most but if you fancy being 4-5hrs+ from the ocean and further from Brisbane then you'll find rural Australia has hundreds of rural communitites- some built up around farming and others around mining. This isn't rural like the UK though- summer temps are extreme without coastal breezes and winter can be cooler than at the coast. The way of life is harsh and requires a pioneering spirit. Have a look on google maps, pick a couple of towns and stick them into a real estate search and see what crops up.

Wouldn't be for me but it's perfectly possible to buy for 160K in Queensland.

ray2gill

[QUOTE=Red_V_Roger;7423098][QUOTE=scamp1976;7422203]Don't buy now, wait a few months / years for the houseprices to fall. Invest your money somewhere else, Where are you looking? Banks are offering 5+% for AUD5,000+ where do you get 3% from? Suggest you start looking to reinvest elsewhere.