dejags

DH and I have been in Brisbane for three months now. When we arrived we found a rental in Ascot but being so new to Brisbane we were blissfully unaware that we'd landed in one of the pricier suburbs to buy in.

So we are left in a quandary:

1. Move to an entirely different suburb. This would mean moving the kids to different schools/nurseries which is pretty much out for us
2. Buy a shack within walking distance to the school. We would have to go to the highest end of our budget - I am nervous that any rise in interest rates would mean we couldn't meet our monthly committments. Moreover, we would have to, at some point, renovate said shack and I am not sure where the money would come from. Excellent investment potential. Return would be fabulous if we are prepared to live in a shack for the next 5/7 years.
3. Buy a beautiful, large family home 5kms up the road. Totally affordable but in a GROTTY location (within earshot of a major arterial road - one row of houses back from it). This house is a really stunning QLDer which has been totally renovated. It is priced to sell because of it's location. It is still close to shops, station, local parks.
4. Buy a lovely QLDer 2kms further away (7kms from the school). Bags of character but small and needing a fair amount of work (not as much as option 2 above). Again stretching the budget but we'd have enough money to do some of the renovations. House is small and dated.

So if you haven't fall asleep yet, what would you do?

aston man

i bought right by the school,i love it,but its a lot of work.if your not frightend of graft and you can do a bit..go for it..

materials arent to expensive here,but its a nightmare if you have got to get tradies in..

hope this helps..

ast

dejags

Needing tradies - that's the problem. We need to have the house raised - we are a family of five and need more space. It would cost $35k minimum for the raise, that's without the new kitchen, bathrooms and repartitioning.

busterboy

And you cannot get the frickers to commit to anything. The amount of problems we have had trying to get tradies to start has been unbelievable.

dejags

I had heard it was bad, but didn't know it was that bad.

One things about option 3 is that we could afford to have small pool put in. Any recommendations for a swimming pool contractor?

Fly Away

Why don't you stay in rented in your preferred area but buy a small unit/house which will rent out?? That way you get a property investment and get to live where you want to.

dejags

Your option pretty much sums up option three. It is a good rental prospect - very close to public transport, shops and the city. It would only cost us slightly more than our rental, so it would make sense for us to live in it (it's really gorgeous inside!)

spartacus

What about biting the bullet and upping sticks, school and everything?

How old are the kids?

dejags

Hi Spartacus, yes we did consider it but on reflection have decided that our son should stay in his school (Y2).

spartacus

Just wondering why?

rabsody

Does it have to be any of these options?

I wouldn't get the shack in Ascot. I have been renovating my place for the past 7 years, it's a nightmare (although it looks great now) but it really gets on your nerves after a while, particularly if you don't have the cash to do it and you have to look at it every day!

I think 7kms to do school drop off every morning and afternoon, particularly with Brisbane traffic in the morning, is really going to hurt.

Can you not find another house that is more suitable 5kms up the road, instead of the one in a grotty location? Have you looked at Hendra? Quite a nice area but still lots of properties that need renovating and lots in the process of being renovated. You might pick yourself up a bargain.

Good luck.

rabsody

Maybe not wanting to uproot him again if he is settled in his new school (after the big upheaval that is emigrating)?

spartacus

I can understand that, and I'd agree with your previous post, but if you were to move, there's no better time to do it than when you've only just arrived. Far more unsettling to be moving when you're settled.

busterboy

I agree with you. When you are in a swell of upheaval, a bit more might not make much difference.

rabsody

True, you have a good point, but it can be quite a fragile time for the little ones when they first arrive.

These bloody kids ... I don't know why we worry, they're only going to blame us for ruining their lives when they're teenagers anyway.