G'day All, I am relatively new to Sydney(3 years) and moved here with wife and kid. I think I have saved little that I can manage to buy my first home. I prefer to live in Northern areas ( currently renting in Macquarie Park ), just because of better schools and better gentry than far west. Budget wise 650ish and max 700k. From my reading, house is a better investment and hence have been looking in quaker hills but other option is to buy old unit near Macquarie Park ( Eastwood, Marsfield, waitara) and then plan for next property at later stage. Wife still looking for work atm. Any suggestions will really help to streamline the approach. Thanks heaps Mukul
I'd suggest you see a broker and get a finance pre-approval first. Then let's discuss you're options.
Hi mukul As Alan said, it will come down to your overall borrowing capacity, combined with the deposit you have available. House will definitely be better in the long run... or at least something with land component like a townhouse or a villa.
welcome to the forum @mukul m. I am in Ryde/Macquaire Park area, it is a great area, good schools, close to transport, shops. but expensive ( as you said). these 3 areas Eastwood, Marsfield, waitara, are quite different. re Waitara, there likely be an oversupply issue. I drive to Hornsby every Saturday to drop off my daughter for her piano class. there are lots of new units along the David Edge worth Av. Eastwood is already expensive, but the old 3 story walk ups still worth considering. Marsfield is a mixed bag, lots of new development along Epping road. feel free to reach out, happy to have a chat.
Thanks Eric - I am totally with you when it comes to waitara. however, I dont see the effect on prices. The units are still expensive.
