Been seeing a bit of people looking at $700k to $800k budget properties which i am in the same situation. So to be different im looking at 2 properties at around the $300k to $350k mark and see what is better. Where people looking for those price ranges? (away from Ipswich and Logan i have a couple there already) Or am i better say buying $500k and investing the rest in shares or something? Thanks
350k and not logan/ipswich doesnt leave you with many options. Caboolture South? 500k definitely gives a lot more options
2x2 bed units in Canterbury Bankstown fit the bill too. Pity the vacancy rates are high, and rents are stagnant. Only 15km from the city & on a train line.
Yeah Colin thats definitely the go. Just putting forward the question of possibly splitting my $800k. I was wanting to stay away from qld and buy Western Sydney but it's too expensive and there is a bit of chatter on this forum on $700k budgets so was just looking at it from a different direction
For $800k buy in St Marys/Colyton/Mt Druitt in Sydney before the new airport finishes and this area becomes a huge transport hub. Otherwise go to Brisbane. $800k still buys you a fairly good property. There is no more places near a major city that is like $300k now. Almost impossible to find a free standing house at that price point unless it was fire damaged or something and even then I've seen them fetch more.
Hey Mate, Im from Penrith and the plan was always to buy another property out west once the missus returned after maternity leave. Werrington, Cranebrook and Colyton etc as i have 2 in QLD and would like to add a property in Sydney to my portfolio. I just cant get my head around paying $800k as the area is booming.
Reality is.. what you won't get your head around.. other people have.When I was young know-it-all a few older and wiser people on this forum (Somersoft) were pumping up Southwest Sydney. Back then a house in a place like Leumeah was $345,000. I thought "Who would want to live in a ghetto like that..." and I had my eyes set on the Eastern Suburbs ( a 1 or maybe a small 2 bed at $500K). I did not end up buying anything in Sydney that cycle but I can tell you that houses in Leumeah today are touching $900,000. The Mildura property I bought that year in lieu of Sydney went from $285,000 to $365,000 in the last six years while Leumeah... oh sweet Leumeah..
Dont worry mate at least you have the integrity to admit when you are wrong. There are guys around from the Somersoft days hating on Western Sydney and even predicting we would see sub $300k prices again. Since then many places are approaching the $1M mark now and it will reach there soon. Dont forget $800k today in St Marys/Colyton is the new normal in 2021. Back in 2009 or 2010 the normal was $300k. You need to forget the past prices and just focus on the current and future. Maybe in 2030 the new normal is $1.5M for western Sydney. If you look at the entire of Sydney right now and look at the place that has the most government money, private money and potential right now Western Sydney is the clear winner in terms of potential. Currently many places under $1M but that will all change once the airport, metro and upgrades are done. You need to get in now (well ideally before this boom) and hold for the next 5-10 years.
Im not even sure 800k is possible in Werrington/Colyton - Hopefully find one in this budget but im thinking 900-950k for what im after (above average size block)
Great post mate. Gave me a good mindset to forget the past. I bought in cranebrook for 312k in 2012 thats what plays on me. Missus always said west Sydney so I best listen to her haha
Brand new in Werrington. $732k! OK, very small block. https://www.realestate.com.au/property-house-nsw-werrington-137453958
You may still be able to pick up houses in Hervey Bay for 350K...buy in saying that...they won't be particularly flash for that price though. Otherwise Bundaberg perhaps?
