250K in Hand| What to buy|NSW?

Hello,

I got AUD250K in hand and I am exploring what options I have to buy with this money.

PS: At this stage, I do not prefer to get loan- Idea is to put this money somewhere for next 3-5 years and then sale it (if required) to buy a house for myself and save more money.

I explored some options - I am not sure if its a good idea or not to buy some studio apartments in Ultimo/CBD or parramtta under 250K? whats your opintion/suggestions?

C205/56-60 Mount Druitt Road, Mount Druitt NSW 2770 | Domain
14/340 Woodstock Avenue, Mount Druitt NSW 2770 | Domain
26/22-32 Great Western Hwy, Parramatta NSW 2150 | Domain

 

Banks are evil?

 

Borrowing is bad.

 

It ain't your house, it's the BANK'S house!

 

Let me have my delusions. What is life if even delusions are taken from you?

 

op, you asked this question a year ago. What's changed? What did you look at? Why now?

 

What life? Bank owns my life now. OP is right.

 

Op, seems your thing is because you don't have much of an income, so you can't borrow much.
Then property might not be the thing for you, especially in that short a time frame.

Honestly? Buying a studio off the plan, in a big building in areas with unlimited supply, you might as well just torch your money.

(but then, who knows what might happen to the Sydney market?)

3-5% to buy, 3-5% to sell. You don't use leverage which is what makes residential property a good investment.

 

If you pick some decent ETFs, you could grow that $250k by 10% - 50% a year. The only thing that makes residential property a better investment is leverage (bank loan).

 

Why ? What are you trying to achieve? How is buying a house going to save money and why do you want to save ? I prefer to spend money to grow assets and income. You had $200k cash in March and one of the greatest oportunity in any-ones lifetime presented it self. You should have 600k now to buy a house. If you didnt seize that opportuunity I suspect you never will act. Investing now in an ETF or even a house you couid just as easily lose 10 or 30% in 3 years, but if you use a 10 year time frame you should do well.

 

That is rather knaive, You can expect a 10% drop every 3 years and a 50% drop every 10 years and is possible over the next 3 years. Cash flow makes RIP a better investment than ETF's