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Tmduk

Buying property in a different state?

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We’re living in my partners parents house in Sydney, both in full time work and saving for a deposit for our first home. We’ve decided we’ll move up to Brisbane or Gold Coast probably next year due to the property prices here. Both of us have never been to Brisbane and we’ll obviously do a couple of trips up there and go round a few suburbs to see what it’s like (upon borders opening).

Is there anything to be wary of with buying a property in Queensland whilst residing in NSW? We’d like to buy a house whilst being employed in Sydney and rent it out until we’re ready to make the move, is there any implications here?

If anyone could suggest some nice leafy suburbs in and around Brisbane where we could get a 3 bed house/freehold townhouse for 650k/700k that would be great. I’ve seen Morningside looks to be more affordable than some others. 

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There's absolutely no reason why you shouldn't buy property in another state. People do it all the time.  You should use a Queensland solicitor or conveyancer, not a NSW one. 

The hardest part is researching suburbs and finding the right property.  It's very, very easy to get totally the wrong picture from a distance.  Day trips aren't enough, either.  Once the borders open, you need to take a holiday in Brisbane - at least a week, and preferably two - to get to know what life is like, and get an accurate picture of what suburbs are like and what your price range will buy.  

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Scot by birth, emigrated 1985 | Aussie husband applied UK spouse visa Jan 2015, granted March 2015, moved to UK May 2015 | Returned to Oz June 2016

"The stranger who comes home does not make himself at home but makes home itself strange." -- Rainer Maria Rilke

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8 hours ago, Tmduk said:

Is there anything to be wary of with buying a property in Queensland whilst residing in NSW? We’d like to buy a house whilst being employed in Sydney and rent it out until we’re ready to make the move, is there any implications here?

If anyone could suggest some nice leafy suburbs in and around Brisbane where we could get a 3 bed house/freehold townhouse for 650k/700k that would be great. I’ve seen Morningside looks to be more affordable than some others. 

Yes! Large parts of Brisbane and S E Queensland are susceptible to flooding. Ask anyone who was here in January 2011 and they'll tell you that the word 'biblical' would not be an understatement to describe the floods.

http://floodinformation.brisbane.qld.gov.au/fio/

There are lots of lovely suburbs in Brisbane. The north side definitely has more charm and generally is hillier (so less susceptible to flooding), but is also more expensive until you get further north. Morningside is nice and it's become a bit trendy in recent years, so I doubt you'd get a house for 650k/700k (an apartment, yes). You'd get much better value in Wynnum - that's where I'd buy if I ever moved back to Brisbane, as it's on the bay and is very pleasant. The other thing to bear in mind with Morningside and the adjacent suburbs is that some of them are right under the flight paths for Brisbane Airport.

https://flightpathtool.bne.com.au/bac/map

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Northlakes seems popular with a lot of people, it has everything there, Costco, Westfield Shopping Centre etc It is also next to the M1 for easy commuting and not far from the airport. Here is some info on the suburb. https://www.bridgebury.com.au/north-lakes-home-buying-tips/  Personally I couldn’t live there, it’s too much hustle and bustle for me, I prefer acreage and countryside. You could buy a property on 10 - 50 acres between $500k - $600k.

‘Like @Wanderer Returns stated it is definitely the flood maps you want to check and whether you can get house insurance, I know it sounds silly but a lot of insurance companies won’t cover some properties after the floods. 

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4 hours ago, The Pom Queen said:

‘Like @Wanderer Returns stated it is definitely the flood maps you want to check and whether you can get house insurance, I know it sounds silly but a lot of insurance companies won’t cover some properties after the floods. 

That's true. And also some insurance companies cover flood damage (what might be caused by flash flooding), but don't cover inundation (flooding caused by rising waters) so it's definitely worth clarifying what's covered before taking out a policy.

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Thanks for all the advice and insights into suburbs, il be sure to contact a Queensland based solicitor to get some further info.

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I bought an investment property in Melbourne and another on the Sunshine Coast when I lived in Perth - the best thing was avoiding land tax as you only pay it if you have two properties in the same state

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On 10/01/2021 at 23:28, Wanderer Returns said:

You'd get much better value in Wynnum

I second this. Bargains can still be found in the bayside. Bear in mind most blocks will be in the 400-500sqm at that price range. And you may have to pick up a fixer upper.

If you're interested in, shoot me a line. I lived in Wynnum for 2.5 years, and we've just bought in Lota (outside the flood zone obviously).

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