A $20k head start in Griffin

We secured this three-bedroom Griffin townhouse for $755,000, despite the property being advertised with offers over $789,000. A bank valuation of $775,000 shortly after purchase gave our client an immediate $20,000 valuation margin and strong independent support for the price negotiated.

The property offered the practical features we look for in a durable family investment: three generous bedrooms, two bathrooms, air conditioning throughout, secure parking and a usable backyard. Its north and east aspect also brought good natural light into the open-plan living areas.

Within a complex of 90 townhouses, it was important to choose a property that could compete for tenants and future buyers. This home’s position, presentation and family-friendly layout helped distinguish it, while the resort-style swimming pool, visitor parking and on-site security added broader appeal.

The location strengthened the investment case. Griffin State School, childcare and local parks are within walking distance, while North Lakes Westfield and the train station are approximately five minutes away. The nearby neighbourhood centre will add a supermarket, health services, food outlets and specialty retail within easy reach.

The advertised price did not determine what the property was worth. By assessing the comparable evidence, understanding the seller’s position and negotiating firmly, we secured the townhouse for $34,000 below the advertised offers-over figure.

A bank valuation is not the same as a realised capital gain, but receiving a valuation $20,000 above the purchase price so soon after buying provides a reassuring start. It is a strong example of how disciplined selection and negotiation can create value from the day an investment is purchased.