We continue our series on our latest Buyers Agent client, Luke, an everyday property investor who agreed to have us document the process we will undertake as we assist him in buying an investment property in Brisbane.
Luke has set his buying criteria ($350k budget; new to near new type of property) but when it comes to target location, he has quite a wide range of choices. So in this part of the series, we dig deeper and further assess locations in Brisbane that have properties that meet those criteria.
In narrowing down target locations, we factored in Luke’s budget and his preference for the property (not older than 5 years). With those two major requirements, we were able to eliminate the other areas from Luke’s initial list and came up with three areas that meet his buying criteria. The said areas are Moreton Bay Region—particularly Rothwell and North Lakes; Ipswich, particularly the East Ipswich region; and Fitzgibbon.
Meanwhile, in regional Queensland, we reviewed major towns and finally draw up a list of regional towns that meet Luke’s criteria. These are Rockhampton, Toowoomba, and Townsville.
We presented a location analysis for Luke to review our list of narrowed down target areas. These location analysis reports contain an overview of each of the location, the numbers that make up the area such as population, demographics and property data; and the industries that thrive in the location. Aside from these data, we provided in the reports a pros and cons analysis of the location as well as photos of sample properties.
After reviewing the location analysis reports, Luke decided on focusing on the Brisbane locations for this purchase. That said, it’s going to be a choice amongst Rothwell, North Lakes and Fitzgibbon. Now to further narrow down our target to THE actual location of choice, our next task is to delve deeper into those three areas. Tune in to the next part of this series to find out how having focus can help in determining which amongst the possible locations would suit best your buying criteria.