NSW 22yo I just bought a townhouse, second guessing - in cooling off period

Hi ive just secured a brand new townhosue in moorebank at 837 k 3/2/1 complex of 8.

I crunched numbers on yield to possible growth and thought it made sense till after I signed.

Im in my cooling off period, ive found out that my alotment is only 154sqm. I feel as though this is a terrible investment decision. Im 22 and understand loosing 2-3k across the 0.25 holding and inspection reports is worth potential long term losses which largely outweigh the benefits.

Any insight into the property. Comparable sales are 840-880k in the same block, with some random 800k off markets sold else where. Rental appraisals are coming in at 700/week.

Do i pull out and repick a house and land further out.

https://www.realestate.com.au/property-townhouse-nsw-moorebank-139481603

 

You should read and educate yourself a bit more before investing that sort of money.

I don’t know you or this property - but I have a 22 year old and I would say you should back out and wait.

There is no rush at the moment and there are likely yo be better buying conditions ahead. I’d also think you would be better off with something older with opportunities for you to add value to.

There are lots of threads on here similar to what you have posted - read a few of them to get some perspective.

 

Buyers remorse is very common when making a significant purchase and if you have done your best research prior then it’s usually nothing to worry about and the feelings of worry and concern will pass.

This does not seem to be one of those cases.
I’d bail on this deal and do much more research before the next one.

 

I dont know if what you've bought is a good buy or not but let me tell you one thing.

Me buying my first ever property at 21 was the single best decision/action I took in my entire life. That set me on my path of property addiction and my journey took me close to 40 properties before 35.

You'll be scared. Its natural. You'll be anxious, you'll double question yourself and you'll have doubts.

Trust me long term real estate game your going to come out a winner. The earlier you start the better.