So, you’re moving to Brisbane hey?
Or maybe you live here already but you’ve decided that 2020 is the year you’re going to relocate / upgrade / downsize / buy the dream home / stop renting, or even buy your first home.
Whichever one it is, listen up, because I’m about to reveal some of the easily avoidable mistakes property buyers make when they start looking for their new home in Brisbane.
1. BUYERS unknowingly buy in a flood zone.
Boo-boo number one is buying a property in an area that has previously flooded, or is prone to flooding.
When it comes to buying property in Brisbane, you have to be savvy about one major defining aspect of our city – the Brisbane River.
Yep, it undeniably snakes through the CBD and surrounding suburbs, providing what I believe to be a much needed lifestyle / riverside aspect to our emerging city, BUT what local buyers must realise is that this River does flood.
Not every year.
Not even every decade, but the reality is, it DOES and HAS flooded in the past, and it will likely flood again at some point in time.
When? Well, this is anyone’s guess, but when it does, I know I can breathe easy because I don’t buy my clients in areas that flood (unless of course they put a gun to my head and tell me they HAVE to have the house in the flood zone).
Then, yes, I will do what I can to secure the house for them, but it will come with a list full of flood warnings and waivers so they know what they’re possibly getting themselves into.
The truth is, Brisbane house prices in flood areas did in fact bounce back since the last flooding event in 2010 /2011 – eventually, but many of these areas were the already “blue chip” suburbs of Brisbane, such as New Farm, Graceville, Bulimba and Ascot / Hamilton, and they were always going to outperform because people just want to live in these areas despite the risk of future flooding.
Council also began upgrading the infrastructure to guard against future flooding effects such as improving the drainage and installing back-flow valves.
The fact is, it wasn’t the River that spilled over and flooded all the homes. It was the drainage systems that couldn’t cope and the water just backed up. Ewwww!
Anyways, with all of that said, how do you know if the property on your radar is in a flood affected zone?
You need to do a Floodwise Property Report and check the Brisbane Floodmap.
It’s a simple search that will give you peace of mind.
2. OWNERS move in and realise they’ve bought directly under a Flight Path.
Brisbane residents and local property investors alike were jumping for joy when the government announced plans to duplicate the runway at Brisbane Airport and who wouldn’t?
Any form of infrastructure improvement at this level is always going to get the locals excited, entice property investors, and provide an extra boost to the local economy as a whole.
But with a second runway comes a new set of flight paths over the city.
That’s okay as long as it doesn’t affect YOU right?
Not everyone cares if they have overhead air traffic, but I do.
Properties that are obviously affected by aircraft noise don’t rent as easily and are often crossed off the dream home list in favour of a “quieter” address.
How do you know if your newly found home is located in a new or existing flight path in Brisbane?
Easy. Again, it’s a simple online search.
Use the Brisbane Flight Path Tool to do a search for Flight Paths in Brisbane.
3. BUYERS succumb to clever sales agents.
These local Brisbane selling agents can talk the talk, and convince buyers the home they are looking at purchasing is the right one for them, even if, in reality, it’s not.
It’s just the sales agent is damn good at their job and can close a deal.
This one’s a little left field but it screams the truth.
Plain and simple – as a buyer looking to buy the RIGHT home, clever sales agents might stand in your way of you making the best decision for You.
Now for the record, I’m not about to go on a rant about how evil real estate agents are, because truth be told, many of the Brisbane selling agents I know and work with on a constant basis are great people – hardworking, honest, and in general, just good down to earth people trying to make a living and help people buy and sell property.
But here’s the rub… many of them are VERY GOOD at their job, which means they probably know more about local property, negotiation and how to sell ice to eskimos and close a sale than you do.
They’re likely just better than you at all of this and if you don’t do your research, stand your ground or ask the right questions, the sales agent isn’t going to offer you all of the negative aspects of the home on a silver platter.
Of course they wouldn’t! They’d be stupid to.
It’s their job to sell the damn property, not point out all of the bad things about it.
A good agent will downplay the negatives and even turn them into positives. He or she won’t want to talk you out of buying the place. In fact, they will do everything in their power to shine the best light on the property so that you not only want to buy it, but you’ll be prepared to pay the best price to secure it too!
This is their job.
YOUR job as a buyer is to research the areas and suburbs thoroughly and find out all the dirt on that property BEFORE you buy. You need to ask the right questions and not be swayed by any of the sales and negotiation tactics the sales agent throws at you in an attempt to close a sale.
The reality is, you can’t pick and choose the sales agent you deal with, but you CAN educate yourself so you can play the game just as strategically as they can. And when I refer to games, I’m talking about the game of buying the right home for you, for the best price (a fair but hopefully low-“ish” price).
So where to from here?
Here are your options moving forward so you get the best outcome from your purchase.
- Go it alone on your buying journey, but… educate yourself on how to buy in Brisbane, what to watch out for and how to negotiate your purchase BEFORE you sign a Contract. Subscribe to my blog for hints, tips and helpful hacks to buying in Brisbane.
- Hire a local property gun, aka an Independent Buyer’s Agent … Book a 20 minute Complimentary Consultation with me, where I can explain the benefits of how partnering with a local Buyer’s Agent will help get you a seat at the table to your dream home, and remove all of the stresses of buying in Brisbane.
1 or 2 – It’s your choice, but either way, if you’ve read this article and gained something of value here that leads to a better outcome in your purchase, I’ve done my job!
If you liked this, please share it with someone who is looking to buy in Brisbane to pay the message forward.
