As other property markets are only making their way toward recovery, Brisbane continues to offer long-term stability to investors. How can they avoid property lemons and ultimately maximise their wealth creation potential?

As other property markets are only making their way toward recovery, Brisbane continues to offer long-term stability to investors. How can they avoid property lemons and ultimately maximise their wealth creation potential?

While ripe with strong property fundamentals such as good rental yields, housing affordability, population growth and big infrastructure spend, Brisbane, like all other property markets, presents risks to investors.

Among the main things to consider would be flooding.

“We are on a flood plain, but a lot of people don’t think to check flood maps, especially in cities… In our most recent floods, we all know the devastation that has occurred, and it’s possible that it happens again at some point in the future,” she said.

Then, there are also the so-called “character homes”, or homes built several decades ago, which typically have special requirements for development or renovation.

About this, Brisbane has a lot of character homes. Our councils do have certain protections in place for any homes built prior to 1946 that are also protected by what we call a character overlay or a pre-1911 overlay within the council code.

Those types of homes have special requirements if you do want to change the front facade, add a set of steps, renovate them. Depending on the scope of the renovation works, you would actually require a development application to be made to council.

As these are typically located in inner-city suburbs or blue-chip areas, it’s important that investors understand the additional costs that could be associated with the upkeep of the property, as well as any rectification work that they plan to do in the future.

An application to council automatically triggers additional expenses, but that’s okay as long as you’ve priced that in upfront and you understand that the cost may come down the track.

Other issues to take note of when buying a property that will be renovated in the future are timber, lead paint and asbestos, which can all add to the cost significantly and increase the necessity of structural change.

What to buy
While character homes may have additional costs associated with them come renovation time, we recommend other fundamental factors that make them worthwhile investments.

As locals, keeping the character of the streets and avoid changing the external appearance of properties too dramatically.

We’re quite close to the CBD, and we do love that Queensland style. Certainly, externally, our home is very character. 

We certainly have an appreciation for the character of our streetscape and we certainly don’t like seeing some buyers purchase properties and then demolish everything but the front facade because, at the end of the day, Brisbane’s landscape is what it is because of those Queenslander homes, and we don’t want that to disappear.

We try to keep their clients away from the flood zones even if properties in these areas are typically much cheaper.

Some properties located in and around flood zones have even seen superior capital growth recently, but the risks of investing in these areas often outweigh the benefits.  Investors have higher premiums, generally. Even those that rent the properties, their contents insurance premiums are generally higher as well.

It depends on an investor's risk appetite as to whether they would consider a property that’s in a flood-affected area. It’s not up to us to say yes or no to whether a property in a flood-prone area would be suitable for them. Ultimately... it comes down to their risk appetite.

Location Location Location Check this gem out today:-

INSPECTIONS TODAY 5.30 PM - BRICK DUCTED AIR 4 BED PLUS STUDY HOME FILLED WITH CHARACTER AND CHARM

https://youtu.be/P3GovlPl8LI

***INSPECTIONS ARE ALSO AVAILABLE BY APPOINTMENT BY CONTACTING AGENT **** ALL PROPERTY ENQUIRIES ARE TO BE SUBMITTED THROUGH THE WEBSITE BY CLICKING EMAIL AGENT *****
EXCEPTIONAL BUYING FOR AN ASTUTE PROPERTY INVESTOR OR OWNER OCCUPIER, LARGE FAMILY LIVING LIFESTYLE!

Located at possibly the highest point of Runcorn, hence classified as Runcorn Heights.
Away from traffic, quiet location and convenient to all amenities.

This large family home gives you that 'warm loving feeling', situated in a handy location within a walking distance to the local school, shops, café, trains stations, and minutes drive to Sunnybank/ Sunnybank Hills Shopping Centres, highways and public transport. Spread over an 846sqm of land this property offers easy living with a spacious layout including FOUR good sized bedrooms AND STUDY, outdoor entertaining area and backyard.

Boasting:
Ducted Airconditioning.
4 bedrooms with mirrored built-in robes.
Study.
Formal lounge /Rumpus.
Kitchen Dining Entertainment area.
Separate toilet and laundry.
Double Garage.
Gas five-burner cooktop & Dishwasher.
Breakfast hub.
Timber flooring throughout bedrooms and living area.
Security screens.
Solar hot water.
Water tank.
Venetian blinds.
Tiled roof.
NBN.

Built: 1989
Land size: 846 SQM
House size approx.: 152 (without entertainment area)
Approval for inground pool 11 x 5 Metres

* Kitchen Dining Entertainment area facing North-East
* 800 width x 178 height fridge space
* Rates Approx $495.30 p/qtr
* Water Approx $259.37 p/qtr

Nestled in a pristine, quiet and leafy street with children's adventure parks nearby, all within one of the most sought after pockets of Runcorn, you will find this immaculately kept ducted airconditioned 4 bedrooms plus STUDY, 2 bath family home. This low set house offers buyers with the ultimate opportunity to secure a family home in a growing southern Brisbane suburb.

Located within walking distance to in-demand primary and secondary schools, multiple various sporting facilities, public swimming pool, excellent public transport (main bus routes and train lines), 2 separate hugely popular dining precincts with 20+ restaurants, and various supermarket shopping options, 4 Celica Street, Runcorn ticks all the boxes for the buyer searching for a reliable home to bring up their family with convenience, ease and privacy.

Schools Nearby to 4 Celica Street
Runcorn Heights State School, Nemies Road, Runcorn 4113 distance 0.61 km
Runcorn State High School, Hill Road, Runcorn 4113 distance 1.02 km
Kuraby Special School, Alpita Street, Kuraby 4112 distance 1.74 km
https://youtu.be/37VKXVQMuoM
https://youtu.be/G2K3JM_pmvk
http://ljgrealestate.com.au/property/4-celica-street-runcorn-qld-4113
https://www.brisbane.qld.gov.au/things-to-see-and-do/council-venues-and-precincts/parks/parks-by-suburb/runcorn-parks
https://youtu.be/gVW9_0Zy9Ok
https://youtu.be/nKUD1VTZTWI

There's plenty of room for entertaining inside, and outside boasts a huge backyard as well as a large covered pergola area surrounded by gorgeous landscaping. Enjoy the benefits of stunningly landscaped gardens that create both greenery and shade. With plenty of lush grass, tidy brick paved pathways and driveway, it's these low maintenance yet highly attractive features that make all the difference. Only minutes away from city buses and trains, convenience like this is second to none. Surrounded by similar beautiful homes, it's properties like these that don't stay on the market for long!

*Important* Whilst every care is taken in the preparation of the information contained herein, L J Gilland Real Estate Pty Ltd will not be held liable for any errors in typing or information. All information is considered correct at the time of printing. Any interested parties should satisfy themselves in this respect.
http://www.facebook.com/pages/LJ-Gilland-Real-Estate-Pty-Ltd/169194919788253 http://www.ljgrealestate.com.auhttps://youtu.be/P3GovlPl8LI