Description: When purchasing a dual income property so many investors get it wrong. The fundamentals of property investing are magnified with a dual key home.
With any investment property you need a sensible balance of capital growth verse rental return. Both don't go up or down together, they are usually in opposition. The more capital growth you get, the less rental yield you achieve. And vice versa, the higher your rental return generally means your capital growth will be lower (kind of like investing in commercial realestate).
This particular dual income home has the best of both worlds for a few reasons.
1. The location is growing and in demand and just a stones throw from all the major infrastructure of North Lakes without the prices of being directly in North Lakes. (ie - Plaza, cinemas, business district are 5 minutes north). The suburb has local shops, schools and transport which is handy and has everything you need. Interestingly it's also closer to the city than North Lakes.
2. The build is a good size. So many dual key owners go for a smaller build because it costs less and on paper it shows a higher percentage rental return. Although this strategy can work, if it's not purchased in the right area or the right size block it will back fire with slower capital growth in the future.
3. The quality of the build - Not all builders have the same inclusions, often this is where the word "full turn key" is disguised. And often builders just do a better job than others. Often buyers who want the cheapest build in town end up getting it but also regretting it (but still complain because they expected more.... You get what you pay for rings so true in the building industry). You need to find the sweet spot.
4. The size of the block - Remember, there's a thing called 'depreciation'. That's because houses go down in value and you can claim back against the depreciating asset. Land however goes up in value and the bigger the block in the right area will provide you with greater long term capital growth.
5. Supply and demand - Griffin is a growing area and being closer to the city than North Lakes and Mango Hill which are both major established suburbs, makes Griffin attractive to live or invest in, but there's not enough supply.
The Northern Corridor of Brisbane is one of Australia's fastest growing regions and is set to benefit from large-scale infrastructure which is expected to drive the residential market. New schools, sporting fields, shopping centre, day care and medical centres are just part of the new infrastructure to the area. Add to that, the Moreton Bay Rail link and upgraded freeway access. Large companies like IKEA, Costco , Bunnings & a Westfield Shopping Centre all close to Griffin.
One Property, Two Incomes = High Yield Investment
The land is registered and this dual key home has been designed and is ready to be built. Dwelling one consists of 3 bedrooms with ensuite and WIR to the master + extra bathroom with lock up garage. The second dwelling has 2 bedrooms with one bathroom and a single lock up garage.
ABOUT THE PROPERTY
Configuration: Dual Key
Beds: 3 + 2
Bath: 2 + 1
Car: 1 + 1
Land size: 411m2
Land Price: $315,000
Total Build Size: 210m2
Build Price: $280,600
Land is registered
FIXED TURN KEY PACKAGE: $595,600
TURN KEY HOUSE & LAND PACKAGE INCLUSIONS
- Builders 6 year Structural Guarantee
- Site Works, Foundation & Retaining
- Alfresco Slab
- LED Light Fittings
- Stone Benchtops To Kitchen & Bathrooms
- Stainless Steel Appliances
- High Quality Fittings
- All Floor Coverings
- Vertical Blinds to Windows
- Security Screens to Sliding Windows & Doors
- 3 x Split System Air Conditioning Units
- Ceiling Fans
- Low Maintenance Landscaping
- Exposed Aggregate Driveway
- Developer Approved Fencing
- Rendered Letterbox
- TV Antenna
- Connections to services
TO RESERVE THIS PROPERTY
Contact Aaron Weaver on 0412828702 for more information.
* Complete an Expression of Interest with Asset Property Partners and a $1,000 holding deposit
* Asset Property Partners prepares contracts and express posts to agent/buyer solicitor/buyer
* Two Contract Purchase - Land and Build
Standard conditions - Pay no stamp duty on the build
Land is registered with a 14 day finance approval
5% deposit on building contract with builder payable on finance approval
Progressive construction draw downs
Build time: 13-16 Weeks from construction approval
HOW WE CAN HELP YOU
Through our trusted network of builders and land developers across South East Queensland, Asset Property Partners offers a no cost service that helps everyday Australian's source, build and manage their investment property. Let us help you save time and money whilst taking the hassle out of building!
Contact Aaron Weaver on 0412828702 for a free, no obligation discovery session to help you find the most suitable property option for you.