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Late last year I embarked upon a very exciting journey; a plan to build my future home with Hudson’s new property partners DCM / Roonsleigh.
We introduced DCM / Roonsleigh in a previous Hudson report but please click here if you didn’t see it.
Over the next few months I plan to provide regular updates on this journey to show you just how easy it can be to obtain a brand new, quality build, in a high growth area, at a competitive cost.
The first step was obviously to source the land/property. I selected a property in Keperra, a thriving suburb in the Northern suburbs of Brisbane. It is almost impossible to find a street in Keperra that doesn’t have a property under construction or recently constructed, which is obviously a fantastic sign of growth potential. The area is seemingly going through a period of gentrification.
The property I found also benefitted from the following key characteristics;
- Walking distance to a train station.
- Walking distance to a range of shops/cafes/restaurants, but still on a very quiet street.
- The garden backs on to a park and the beautiful Kedron Brook. With a cleverly designed rear access, this will mean kids can have access to an immense playing area, plus bike path.
Although there is a dwelling on the property, the house is dilapidated and this meant I could secure the property at a discount to other properties in the area.
As soon as we settled I spoke with demolition companies to obtain a quote and time frame for demolition and site clearing. Price varied but around $25,000 was the average price. However, Brisbane’s growth has seen 2 out of the 4 demolition companies we sourced not be able to take on our job as they have far too much work on. We have demolition booked but its still another 5 weeks away.
Once this was in motion it was time to start talking to DCM Roonsleigh and begin the really fun part; designing the property! I am in the very early stages in this regard but DCM Roonsleigh have been fantastic. They have a wealth of experience and have given me complete confidence that the building process is going to be a smooth one. What I have appreciated is the ability of Chris, the designer, to work with James, the builder, to work out what we need to achieve to keep within budget but also bring my bespoke home to life. It will mean sacrificing some of my wish list, like a roof top garden, in order to have a teenagers retreat built out the back, but Chris and James have been so patient and have spent so much time outlining costs and putting different options to us that the decisions have been easy.
Look out for future updates and pictures of my new future home as things progress. I thought it might make it a bit clearer for clients of mine who have not built a house before to see how the process unfolds. I also want to highlight the option of purchasing infill land and building, as a potential investment option, after talking with your Hudson adviser of course.
Your financial adviser is obviously an important part of the property investment process, but so too is your mortgage broker. A good mortgage broker does a lot more than just sourcing the home loan. A good broker will help your adviser crunch numbers, will guide you through the build process and will complete the staged progress payments. Your mortgage broker can also help with Bank valuations and sourcing bank valuations from different banks can prevent heartache at the end of the build. Banks can put grossly different valuation figures on your property and your broker can protect this from happening by sourcing the right bank for your build at the beginning. The build process can be complicated and involves organising lots of different parties from real estate agents, solicitors, home designer, builders, accountant and financial planner. Hudson can make the process a lot easier now, offering a cohesive service between our mortgage brokers, our financial advisers and our new collaboration with our accountants.
Quick Facts on Brisbane Property –
Queensland is leading the nation in net interstate migration over the past year – with a net interstate migration gain of 24,000 and population increasing overall by 1.7% to 4.9 million.
- 2020 saw detached dwellings in Brisbane increase just over 4% in value, with units rising just under 2.5%.
- Shorter selling times in Brisbane, with properties selling within 37 days.
- Westpac recently made an announcement that they expect Brisbane property prices to rise 20% across 2022 and 2023.
Start the process today – Book in with your Hudson advisor via our Website or call 1800 804 296 to speak with an advisor today.