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We have re-done some figures and taking into account all expenses, the property costs us $95 per week.
We have to decide whether the $95 per week is better invested in our property or in Super. The house is on 541sq m block on a main rd.
It does not need any renovations. It is a fibro house cladded in aluminium which is in good condition but locality not so great.The zoning is CMU12 – Character Mixed Use. Its not feasible to buy land either side because of the way the land was subdivided.
A possibly use could be commercial, but house would have to be pulled down due to lack of parking.
Our property would most likely not increase a lot in value compared to others in Ipswich.
Ella and William
Hi Amanda
No offence intended re Raceview
Thanks to all contributors. My husband and I are going over all the info postedNow that you have mentioned it I think it is Zoned mixed use I will check that. The house was on a larger block that was sub divided in the 1960’s
Maybe the house could be bull dozed one day for a shop!
I dont know if you are aware the Council changed the boundary of Eastern Heights and included the cheaper parts of Raceview I think it is. So I now say we are in the good part of Eastern Heights ! The original prestige part.
So some people may not be aware of the boundary change.
Hi Amanda
We have two properties in Ipswich. One is a Queenslander in Eastern Heights which as you know is a great suburb. Its in the prestige section of EH.
The other property is in East Ipswich a 1960’s cladded house. The problem with this house is we get no tax benefits and we were advised by a financial advisor to sell and put the profit into my husbands super. Rent is $175 pw and repayments are $180pw plus rates +insurance so negatively geared.
Its on Brisbane Rd which is a busy Rd
