Hi guys, looking to buy a house to live in short term ~2 years then either sell off or rent. Really hoping that it will achieve good capital growth but also not too far from Domestic Airport as I fly in and out once a week. Max budget 1.2mill Any suggestions? So far I had a look at Revesby, Bankstown, Padstow, Panania area as they look affordable. Up north its too expensive, even Hornsby is now 1.5mill+ Thanks
Hi, just going to say, it’s not really worth buying a home for just 2 years then selling. You’ve got stamp duty, agents fees, marketing etc… Having said that, Revesby, Bankstown, Padstow, Panania area should be good, I agree, they present much better value than a lot of other places in Sydney.
Thanks for the reply, I probably think more holding long term or renting it out. I know that especially now the rental yields especially are really poor but I'm more betting on long term capital growth or even lease it to a family member. Do you yourself have other suburbs that you recommend?
Maybe also look to see what you can buy going south, but that pocket of suburbs you mentioned is a good option for the budget IMO.
I think those suburbs work well. In budget would also be places like Wattle Grove and Holesworthy (if you want to be on a train station). If the domestic airport wasn't a requirement, you could consider Seven Hills in the north. The southern beaches are difficult and have boomed in the same way that the northern beaches have. It's difficult (but possible) to get anything under $1.6m in the south as well. A tired deceased estate on a small block part of a battle axe in Sans Souci sold for over $1.8m via auction just this evening.
Yup, and here I was still thinking of trying... Rockdale, Kogarah is 200K over my budget. I didn't dare search up sutherland and miranda...
For me, the St George area is probably the best overall value in Sydney (houses at least). But, you can't get in for $1.2m I'm afraid. The Shire is the same. It depends on what you must have and what are nice to have - ie what you are prepared to compromise on.
Shire anything decent is 1.7+ and as go towards the beach the more it increases. I think COVID has really increased desirability of lifestyle/coastal/bush outlook areas even more.
