Dear Members, I have 100+k in savings. Both working in CBD. With the current market condition is it better to start building an investment portfolio or buy brand new house worth 800+k in new suburbs in Sydney. We currently live in 2bhk apt near to CBD.As our family has grown looking for a bigger house.Kids are 3yr old. But buying bigger dream house in Sydney suburbs means postponing my investment journey. Any thoughts.Any better choices that I can make.I am confused.
Twins in the house makes for busy parents Often the confusion comes from not having clearly defined goals that can work within the resources and risk profile of the family. Id sit with someone to help refine my goals and from that do some modeling as to how the options may work out in real life Once one has that data, with certainty comes clarity ta rolf
Because its dangerous and I met someone who knew someone who lost money in 87. Property is much safer and only appreciates in value. To the OP, why not rent a three bedroom house and continue on your investment path whatever that may be.
yes there is very obvious better choice 1. you are happy where you are, you just need more space 2. Rentals where you are have come down considerably since approx 1 year ago why not just move out to a bigger place in the area you’re in. Keep investing and building a pile so you have more choices than “800k for something brand new” in a far flung suburb... you won’t regret it if your whole family is content in the same area for now
Have seen many old properties for ppor around quakers hill, seven hills within 850k budget,land~400sqm. But they are very old,ceiling height very low,improper vaastu, only 1 bathroom, too sloping lands etc.
Saw couple of them in Lalor park, black town..they are good sized ,renovated properties but they are in bad school zones and lot of public housing.
Vastu shastra is a traditional Indian system of architecture originating in India. Texts from the Indian subcontinent describe principles of design, layout, measurements, ground preparation, space arrangement, and spatial geometry. Vastu Shastras incorporate traditional Hindu and Buddhist beliefs
For eg, Vaastu may help to get good airflow and light to the house. But are the same principles applicable in Australia? Considering Australia's position is south and hence many things may change accordingly.Agree?
Have you thought about rentvesting as a strategy? You could invest in a cheaper capital city while rent for a cheaper amount in Sydney. It would give you more flexibility as well James
Do you realise all those brand new, shiny properties in the new housing estates all look the same? Do you have any idea of the commute time for you both to the city with young children? Don't get me wrong, I live out West & Hubby worked in the city & traveled to the city for work each day, but I stayed home with the kids. Both of you doing it would be a really hard slog, I believe. Why not look for something older, but nice, in a suburb not so far from the CBD as an investment & rent something bigger for the time being.
Well done saving 100k! You may find much better cashflow out in the burbs, allowing to rent and save more living closer to the city
My friend fell down riding a bike in 94. Walking inside your house is a much safer option. That's not how it works. Nothing is immune to dents here and there.
