We know the suburbs of Brisbane’s inner east like the back of our hand. Their tree-lined avenues, high-end homes and excellent lifestyle potential make them some of Brisbane's most sought-after locations. We also know that for these reasons, they're also some of the most expensive suburbs in Brisbane.
You may have fallen in love with an inner-eastern Brisbane suburb for one of their many drawcards, from scenic views to great school catchments. If you're finding that the house prices are beyond your grasp, consider the saying: ‘purchase the worst house on the best street.'
Viewing a property that you may have otherwise overlooked due to the following potential turn offs could be the key to securing your dream lifestyle in the most expensive suburbs in Brisbane.
Plot size, slope and shape
The land on which a house is situated is thought to comprise up to two-thirds of the value of the property. Blocks that are smaller than average for the suburb, or have an unusual shape can decrease price expectations. If the home is on a slope, its ability to be developed is restricted. This can limit the buyer pool and decrease the potential for competition with investors, increasing affordability.
Diamond in the rough
Exteriors with peeling paint, untamed gardens or awkwardly placed windows can easily be fixed with a bit of TLC. Additionally, keep in mind that homes that are poorly presented or haven’t been styled for sale are usually more affordable. Look past the minor things that you can change to secure a home with aspects you can’t change – what you paid for it, and the location.
Last but not least - unless you have bottomless pockets, buying a house will always involve compromise. You may have originally pictured your ideal home as a free-standing modern build, but you can get a similar living experience from a townhouse. Compromising will still give you the suburb perks at a price that better suits your budget. Brisbane’s inner east has boomed with development to meet the needs of buyers who are eager to live in the area but priced out by luxury complexes. You can find great villas and townhouses in Camp Hill, Bulimba and Norman Park.
Word of warning
That being said, some bargains may be best left on the shelf. While we advise managing your expectations, we don’t advise purchasing a home that will cost you more to renovate than it would have cost to purchase your first choice.
Always be mindful of the things you can’t change in a property – aspect, neighbours and most importantly, location. Noise from a major arterial road, train lines or flight paths may have decreased a property’s price, and it’s important to determine whether these aspects will be worth paying less in the long term.
While Brisbane's inner east may be home to some of the most expensive suburbs in Brisbane, the lifestyle on offer is incomparable. If you’re interested in purchasing in Brisbane’s inner-east, get in touch with a Place Bulimba agent today.