Elara in Marsden Park, NSW ?

Discussion in 'Where to Buy' started by Iwan P, 30th Jun, 2019.

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  1. Iwan P

    Iwan P Member

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    Hi All, what's your thoughts on the Elara Estate in Marsden Park ? There are a couple of sub-700k properties available (finished houses), and interesting new developments around the area (a couple of new schools, public facilities etc). My worry is oversupply (many new houses being built) and lack of current public transport options. Interested to hear from anybody with more knowledge in the area, thanks !
     
  2. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    Is this for a home purchase or an investment property?
     
  3. Iwan P

    Iwan P Member

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    More for an investment for now, although it is conceivable one of our kids can stay there as they get older
     
  4. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    How long term are you looking at for this?

    Marsden would mainly have small blocks of land, and negatively geared properties - especially given the rents in Sydney. It will cost a bit to hold.

    Is there opportunities to make money else where in the meanwhile?
     
  5. Iwan P

    Iwan P Member

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    We are looking for 10-15 years time horizon at the moment
     
  6. AAA2214

    AAA2214 Well-Known Member

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    Why do you want to buy in such oversupply area with such small blocks of lands??
     
    Timb89 and Tekoz like this.
  7. Iwan P

    Iwan P Member

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    Thank you
    exactly what I was worried about, thank you for the honest feedback :)
     
  8. AAA2214

    AAA2214 Well-Known Member

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  9. Iwan P

    Iwan P Member

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  10. AAA2214

    AAA2214 Well-Known Member

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  11. Tekoz

    Tekoz Well-Known Member

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    Yes @Iwan P it is over supply at the moment for OTP property in that area.