Moving to Brisbane? Buying a house in Brisbane, Queensland

The most important thing you can do before you purchase a property is to check that you are not paying too much. Look at plenty of homes in the areas you are interested in and make a list of asking price and what they sold for. Check land size, special features, which direction they faced, what school zone they were in, proximity to transport and the other homes in the street. Once you have selected a property which you feel is the sort of home you would like to live in then for a nominal fee you can get valuable data about other properties in the area from:
www.derm.qld.gov.au
You might wish to employ a professional valuer who will check for you whether there is anything in planning or any history which may affect the price of your property as well as comparing data which will give an indication of the true worth of the property. You should be able to find a registered valuer on the database of the the Valuers Registration Board or the Australian Property Institute.

Once you have a feeling for how much you will need to spend you will need to get the necessary finance. You must make sure that you have enough for the deposit as well as enough to pay the mortgage.

The auction process is very popular but you must be sure of what you are doing as thee is no cooling off period as there is for a purchase through private sale. Once you have won the auction you can not then find a reason for not proceeding: you must proceed. Make sure that you have asked the agent for the contract of sale and that you ask a solicitor to check this for you if you are serious. At the beginning of the auction the auctioneer will read the terms of the auction. If you want to bid then you MUST register with the auctioneer before the auction begins. Sometimes the auctioneer will start with a vendor bid which is a bid he makes, below the reserve price in order to start or improve the auction. If the auction does not reach the reserve price but you were the highest bidder then you will be able to negotiate with the agent. In this situation you will then have a five day cooling off period if you agree to the contract. If you win the auction or negotiate afterwards you will be asked to provide a deposit which can be paid by bank cheque or personal cheque . The deposit will depend on the price of the house.

If you are choosing a home which is to be sold by private sale then there is a different process. You make an offer by signing a contract of sale which is a simple document showing your offer, when you will pay your deposit and when you decide to settle. You may also be asked to pay a part deposit which is returned if the vendors do not agree to your offer. The contract of sale becomes a legally binding document when both you and the vendors sign the contract. You must then pay your deposit within two or three days.

Settlement day is usually between 30 and 90 days and this is when you will pay everything in full.

See the Gold Coast guide we wrote for Australia and New Zealand magazine here

For more info about renting in Brisbane please click here.

Renting in Brisbane

What you might find in an unfurnished and a furnished home.
Obviously in all homes you would expect to have a mean of cooking, a means of heating the home and a bathroom which may or may not have a bath. Unlike some parts of the world you will also expect to have window coverings an light fittings. Depending on the home, an unfurnished property may then have extras including built in dishwasher, microwave, sometimes a built in fridge. Look out for good ventilation and air conditioning or at least fans are a big bonus in Brisbane’s hot summers.
When you are choosing a furnished property be aware that there is a considerable difference between fully furnished and furnished properties. While a furnished home may offer only: oven, cooking range (gas or electric), fridge, washing machine, bed, sofa, table and chairs you would find a fully furnished property would also have the necessary kitchen utensils, crockery and cutlery, bed linen, towels such as you would find in a serviced apartment. You could move in without buying additional items.

Lease terms

All landlords want the longest possible lease so that they do not have to incur extra agents’ costs or income lost from the apartment being vacant. It is wise, therefore, in a competitive market to offer as long a lease as you can. Some fully furnished properties may take as short as a three month lease but generally six months is more usual. For an unfurnished property you will most likely be accepted with a lease of 12 months or more.

Cost incurred in case of lease breakage
Unless you have a diplomatic clause in your lease which allows you to break your lease if your employer move you interstate or overseas the you will be responsible for paying rent if you choose to leave before the end of the lease until someone takes over your lease. You may also need o pay a reletting fee which is often one or two weeks rent as well as advertising costs Check how the agent will be advertising the property and what costs will be incurred. It is the responsibility of the landlord to make reasonable efforts to relet your property.

Brokerage

You will not need to pay brokerage in Queensland.

Monthly maintenance charges
The tenant does not need to pay additional monthly maintenance fees, rates or building insurance. Payment schedule for a rental property The expected amount payable to secure a rental property is two weeks rent and a bond which is usually the equivalent of a calendar month’s rent for an unfurnished property and usually six weeks rent for a furnished property. The bond is a the landlord’s protection against damage and is also normally the equivalent of one calendar month’s rent.

When do you pay rent?

Rent is payable in advance but no more than two weeks for periodic tenancies or one month for fixed term tenancies.

The lease

You will be given copies of the lease to sign. The lease explains the terms by which you are renting the property, the rent you must pay and the period of tenancy. You will also be given a booklet explaining your rights as a tenant.

Outline of the condition of the property
When you move into your property you will be given a report of its condition in duplicate. Make sure you check this carefully and then sign the copies, keeping one for yourself and one should be returned to the agent or landlord within three working days. This will form the comparison which is the basis for your refund of bond at the end of the tenancy.

Use the map by clicking on the buttonsmarking the various City Councils of Brisbane. You will then be given information about the various suburbs and facilities, local schools and transport. This should help you to pinpoint the areas you may want to focus on. If the maps dont work in your browser click here