Join Australia's most dynamic and respected property investment community

2 BR vs 3 BR house - Sydney East

Discussion in 'General Property Chat' started by sunjet, 2nd Oct, 2016.

  1. sunjet

    sunjet New Member

    Joined:
    2nd Oct, 2016
    Posts:
    3
    Location:
    Sydney
    Hi, first post just wanted to gauge people's thoughts.

    We currently own a 2bedr apartment in Sydney (high rent demand area) which we intend to move out of and buy a 2 bedroom house with the possibility to build up/extend or eventually leverage the equity in a few years (3-5 years away) when we have 2 kids.

    I just wanted to gauge people's thoughts On 2 bedroom houses or if we should save a bit more to get a 3 bedroom (intention is to have two kids). In the areas we are looking at (Sydney East eg Maroubra) the gap is quite significant.

    Cheers
     
  2. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    4,925
    Location:
    Sydney
    If you can find a rare 2br house at a good price that you can neatly add a 3rd/4th bedroom, that's gold.
     
  3. Sam654

    Sam654 Member

    Joined:
    7th Jul, 2016
    Posts:
    16
    Location:
    Sydney
    I would think that your best bet would be either to get some assistance from a buyers agent who could look for something to suit your specific needs or start viewing places and get a feel for whether you think any of the 2 bedroom houses will be able to accommodate a third bedroom in the future.

    Will be worth looking into local councils and others people/houses that might have made similar upgrades and get a feel for the hurdles you might come across and also features in properties you should be looking out for.

    Quite a bit of homework and plenty of viewings, but there's always a lot of effort required if you want to do it right.

    HTH
    Sam
     
  4. sash

    sash Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    3,214
    Location:
    Sydney
    No hurry.....you will pay in excess of 1.4m in Maroubra for a 2brm house...at the moment...
     
  5. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    5,563
    Location:
    Sydney or NSW or Australia
    You may have to hunt further south towards Botany/Tempe for a reno job.
     
  6. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    4,925
    Location:
    Sydney
    My grandparents bought their house in Maroubra. It was a very long time ago though! Anyway they added a bedroom and a living room. It cost them $300 to do. My aunt said it was the best investment they made to their house. They use that extra living room as the main area of the house.
    I'd avoid Tempe though - aeroplane noise.
     
  7. sash

    sash Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    3,214
    Location:
    Sydney
    Have you been to Tempe lately?

    That is exactly what they said about Marrickville...the prices in Tempe have mirrored St Peters and Marrickville despite the plan noise.....
     
  8. Gockie

    Gockie I'm an ISTP-A female, so I might be a bit quirky! Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    4,925
    Location:
    Sydney
    Still would choose Maroubra over Tempe. And I still feel Maroubra is a bit undervalued.
    You can double glaze windows but you can't sit out in a garden or have a conversation outside in Tempe without being interupted by aircraft noise every few minutes. And yes, on our hunt for a home back in 2007/2008 we looked everywhere, including Inner West and Tempe. Liked the Northern Suburbs better. Don't like narrow small streets - hard to navigate cars and too much traffic.
     
  9. JDP1

    JDP1 Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    2,839
    Location:
    Brisbane
    ...and I'd choose Brisbane over either of those Sydney suburbs...
    Hang on...oops..wrong thread :)
     
  10. sash

    sash Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    3,214
    Location:
    Sydney
    Sure would...both are fully priced at the moment.......Brissie's turn now....then Melbourne Outer suburbs, Canberra, Adelaide, Hobart, Perth/NT.....
     
  11. Lacrim

    Lacrim Well-Known Member

    Joined:
    25th Jul, 2015
    Posts:
    329
    Location:
    Australia
    I know the area extremely well Sunjet and its exceedingly hard to find value now. However if you're trading up in the same market it may not be a showstopper to buy (now).

    Now's not the worst time to look given sellers are a little more jittery and keen for a sale before the Xmas break.
     
  12. sash

    sash Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    3,214
    Location:
    Sydney
    Yep...agree with your assessment...know that areas well also.

    Even prices in Malabar and Chiefly are strastrophic......
     
  13. Lacrim

    Lacrim Well-Known Member

    Joined:
    25th Jul, 2015
    Posts:
    329
    Location:
    Australia
    Just looking at auction results this evening for that neck of the woods - some ridiculous prices yet again. I don't know when but it will correct at some point. It has to.