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Apartments in Sydney - under 700k

Discussion in 'Where to Buy' started by Cimbom, 20th Sep, 2016.

  1. Cimbom

    Cimbom Well-Known Member

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    What are your thoughts? The only areas that really seem worthwhile for apartments at present are the inner eastern suburbs due to more limited supply but this amount will only get a small 1 bedder if you're lucky. There are some options for 2 bedders (needing work) in the inner west but oversupply is always concerning. The prices have gone quite high overall so I'm paranoid of this not lasting much longer or even reversing. Or is it better to just rent in a preferred area with this budget?
     
  2. kamchatsky

    kamchatsky Well-Known Member

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    If you really need to buy 2 bedders in inner west, I suggest anything along train stations. My sister recently bought old 2 bedder in Ashfield for 680K. Ashfield has fast train to city (10 mins).
     
  3. Cimbom

    Cimbom Well-Known Member

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    Not looking specifically in that area - just wanted to get some thoughts about Sydney (within this budget) in general
     
  4. Gockie

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

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    Seven Hills or Blacktown house on land. Get them while you still can.
     
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  5. Cimbom

    Cimbom Well-Known Member

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    Thanks. Is there much near the train station/shops for that price? I'm still not familiar with Sydney suburbs so will have a look.
     
  6. Gockie

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

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    Have a look... but it mightn't get you so close to the station though.
     
  7. Cimbom

    Cimbom Well-Known Member

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    I'll keep a look out. Most of the close ones seem a bit over budget but I'll keep checking.

    Thoughts on Petersham/Stanmore (small blocks)?
     
  8. Cimbom

    Cimbom Well-Known Member

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    Any other thoughts?

    From what's online at present, there doesn't seem to be much in the area that is walking distance from the train station within that budget. I prefer to search under 650k as it seems it's very common for agents here to use bait pricing.
     
  9. Cimbom

    Cimbom Well-Known Member

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    Thoughts on Auburn for fixer-uppers in this range?
     
  10. Gockie

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

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    I would personally not go for an apartment in Auburn. A friend did though...
     
  11. MsAli

    MsAli Well-Known Member Premium Member

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    @Cimbom

    What are your negotiables and non negotiables?
     
  12. Cimbom

    Cimbom Well-Known Member

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    Sorry I meant houses. There seems to be some on small blocks just under budget.

    Petersham/Stanmore was for apartments.
     
  13. Cimbom

    Cimbom Well-Known Member

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    Main things I'd want (as it will be a PPOR for now) is within walking distance to a train station, close to shops and amenities and as close to the city as possible (for work). Obviously, if it is a unit, I would like it to be somewhere where there isn't massive oversupply. We don't mind doing renovations but as we haven't done much before, I wouldn't want something that needs a massive amount of work. We also wouldn't really have the budget for this anyway. Normal renos like kitchen/bathroom, new flooring, etc is fine.

    We will have to sell our house in Canberra to buy over here so I want to be pretty confident in what I'm buying to do it.

    The IO repayments for this property would be the same as we're paying for rent now so that is a good motivation.
     
  14. standtall

    standtall Well-Known Member

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    Look at concord west/liberty grove/north Strathfield area.. concord west station precinct is going to be a major development next to Olympic park plus easier access into city via west connex will be a major plus.

    Ashfield is a great area but I would also look at Canterbury which is on future growth corridor and on future metro line.
     
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  15. Gockie

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

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    I'm going to say nothing wrong with looking at Liberty Grove, but I wouldn't buy there. It's very noisy. You've got the motorway on one side and train line on the other. You can't escape the noise wherever in the suburb you buy.
     
  16. Cimbom

    Cimbom Well-Known Member

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    I'll have a look at those areas as I'm not familiar with them. They do seem like they'd be a better buy for houses rather than apartments though.

    It's frustrating that so many of the places I've found in areas that I like have price guides of 700k meaning they are likely to go for 50-100k more.
     
  17. MsAli

    MsAli Well-Known Member Premium Member

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    I'd look at Westmead, Wentworthville for a 2br established villa or townhouse in that budget.

    Train to the city is about 35 min from Wentworthville and Westmead prolly quicker as it gets express trains.
     
  18. Cimbom

    Cimbom Well-Known Member

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    Thanks. I'll have a look now.
     
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  19. MsAli

    MsAli Well-Known Member Premium Member

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    Also open up to Girraween - any properties within walk to Pendle Hill or Toongabbie stations. Except the train trip is a tad longer than Wenty and Westmead
     
    Last edited: 22nd Sep, 2016
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  20. Cimbom

    Cimbom Well-Known Member

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    There seems to be quite a few new or very recent townhouse builds there. I would prefer to get something a bit more established to add further value so will keep monitoring that area.

    Any thoughts on Summer Hill or Bondi Junction for units? These are 2 bedders.