melaniee

Are they a good idea ? What are the downsides ?

SarahJane2007

Depends where you are thinking of buying them....in the City or on the Coast

melaniee

The coast..

TrickyTree

You will usually have to pay an annual body corp fee so find out what that is and what it includes etc.

the plumber

where about on the coast...?

how many bedrooms....?

is there a lift....communal pool...?

age of property....?

body corp....?

will it be negatively geared...?

have you got a sea view...?

whats the price...?

these are the questions i'd be asking , before considering purchase....

Ozzidoc

Or even better, positively geared - why lose money when you can make it.

Has the body corp got a decent sinking fund (ie for future maintenance, re-roofing etc)?

How easy/difficult would it be for you to be on the body corp committee?

Be aware that the home owner (not the renter) is responsible for water/sewage and council "rates".

Note that body corp fees can be expensive.

the plumber

if you find anything by the coast positively geared.....let me know i'll take 5....!

all the best plumb...

tabby

Try joining a investment proerty forum I use www.somersoft.com.au , but I think there are heaps of others when i buy units I will only buy if yield is 5% or more

melaniee

So many questions ! Not sure yet, just exploring the options of whether to buy a unit maybe Noosaville/Peregian area or a house somewhere else, more negatively geared (yikes)....any ideas on good investment areas at present ?

themerlin

Hmmm I don't like units.

When you buy a house/land it's the land is the appreciating asset and the house is the depreciating bit.

You have to be a little careful with units, people will sell you them on fancy tax packages where the accounts deprecate the unit allowing you to off set it against your tax, what they don't tell you is that you have to pay all that back in capital gains when you sell.

melaniee

Don't you end up paying CGT on houses too though ?

hantsfamily1

The bank is a guaranteed 7% for 12 months or bite your finger nails and worry about the expected 2 interest rate rises by the middle of next year and that they dont bring house prices sliding to a halt. Any profit made in an investment property is also taxable when you sell.

the plumber

I agree to an extent , houses are a safer bet and would be a preferable investment........but i think has houses become more and more expensive also people wanting to downsize etc , apartments are becoming a lot more attractive and in the future will become a good investment.

If you are looking for an apartment seriously , i'd look at location close to the beach, possible sea view that kind of thing.


all the best plumb.....

the plumber

just so happens i have a beautiful penthouse 2 bedroom apartment opposite the beach in kingscliff 15mins from coolangetta 25mins from the goldcoast.
and if you spoke to me nicely may be persuaded to part with it.

At the moment its a holiday rental.....if you want pics of it go on salesandrentals kingscliff....click holiday rental.....address , 313 marine parade.....best st in kingscliff opposite the beach.....great sea views from lounge photos don't do it justise.....


all the best plumb.....

ps aren't i cheeky.....

Ozzidoc

V cheeky. Property looks nice.