Buying in Perth

I’m looking to buy my first home in Perth using the First home buyers grant and later turn it into an investment property. I only have savings of 25k which limits my options. Should I build, if so, what areas will be good for investments? Or should I buy established, if so, what locations and should the purchase be a house or apartment.

 

Do you qualify for the federal Homebuilder grant? If so there is about $65k of free money...

If you're wanting to maximise your free cash, then it's likely you'll need titled land and to sign a building contract before xmas. If you're flexible on living (as you need to live their) I'd look to outer/regional markets not so cooked with activity.

If you're focused on Perth metro, I'd find land first and then speak to few builders. Personally, I'd avoid new estates and try and pick something up as part of a small duplex / triplex subdivision.

However, the plan B could be to save more and focus on established property.

 

Hi Kent,

Thanks for the information! I do qualify for the federal homebuilder grant. If I were to build, which outer/regional markets would you recommend? Would they be good for investments?

I was initially considering the Perth metro. I was told to consider Rosehill Waters in South Guildford. Are there any areas/estates that you would recommend?

 

You are asking what area is good for investments. Well.....people live and rent in all suburbs, so you need to do a little more research yourself. Start with suburbs you'd like to live in & work from there.

 

At the moment I would buy established in Perth.

No way would I buy developer land in an outer rim suburb.

 

Depending on your budget will dictate the areas you can afford.

I’d be looking for the largest piece of land you can afford the closest to CBD, or transport infrastructure(preferably train) lots of new infrastructure projects coming up in Perth

 

Don't forget you need to live in it for the federal and FHB grants. If you're not FIFO, getting lending for a home that's not local to your job won't happen.

 

Thanks. I’ll do that

 

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