Where you can buy a property for under $100,000
They’re the south-east’s best kept property secrets.
Bargain real estate for under $100,000 with the potential to bring big returns for astute buyers.
People will be surprised to learn properties are going so cheap, REIQ CEO Antonia Mercorella, tells 9NEWS.
“We know that there are lots of affordable home and apartment opportunities but, certainly, this really offers something that’s a little bit outside of the square and obviously available at much more affordable price points,” she says.
There are four units up for grabs on Brisbane’s Northside right now in this Chermside complex ranging from 79 to 90 thousand dollars.
The single bedroom apartments are guaranteed income – the motel is right around the corner from the Prince Charles Hospital.
“It’s a good investment it probably outdoes the banks a lot of times,” Shirley Mapp from REMAX Chermside says.
It’s not the only cheap property waiting to be snapped up.
In the western suburbs, we found this retirement unit at Mt Ommaney with a kitchenette and private ensuite is priced at 82 thousand:
An investment holiday unit at Carrara on the Gold Coast on offer for $89,000:
In Ipswich, one bedroom units in this seniors village start from $50,000:
And this studio apartment at Kangaroo Point is up for grabs – offers over $80,000:
“What we’re seeing is these accommodation options that are either focused on the elderly or perhaps students accommodation or holiday letting,” Ms Mercorella adds.
If you’re after a bargain buy, you might be looking at an older-style property that needs ongoing repairs and maintenance – experts say don’t be swayed, if it’s an investment, you can claim them as tax deductions.
If you are buying property in an established complex, always so make sure you check ongoing fees and resale rules.
“We always encourage people to seek investment advice and to really think about what your future needs and objectives are,” Ms Mercorella says.