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FHBs Unite! - What are our options?

Discussion in 'Where to Buy' started by Elvis, 11th Jan, 2017.

  1. Elvis

    Elvis New Member

    Joined:
    9th Nov, 2016
    Posts:
    2
    Location:
    Sydney
    Hi all,

    I'm a first home buyer based in Sydney and would like some opinions on some suburbs within the 500-700K range to buy my first IP.
    Just some points:
    - How can I utilise government concessions/grants if I'm buying an older property?
    - Would it be better to buy an OTP unit (receiving the NSW FHB grant and potentially a developer's grant)?
     
    Last edited: 11th Jan, 2017
  2. Tony Fleming

    Tony Fleming Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    593
    Location:
    Sydney
  3. BKRinvesting

    BKRinvesting Well-Known Member

    Joined:
    15th Oct, 2015
    Posts:
    366
    Location:
    Blue Mountains, NSW
    Plenty of suburbs in that range.
    Just go west.
    South too.
    They've all grown phenomenally over the last few years - but general consensus is long term Sydney prospects are good :)
    Especially in the west with good existing infrastructure, new airport, increased push to move jobs to Parra as its own city, etc.

    Disclaimer: I own in western Sydney ;)
     
  4. strongy1986

    strongy1986 Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    256
    Location:
    VIC
    Elvis good on you for having a crack
    I guess if i was in your situation i would move cities but i understand its
    Hard when family is involved
    What does good infrastructure mean anyway?
    Lots of stuff that that the general masses need? I understand all this is good for investing but i find it a bit lame brain
    I reckon sydneys done its dash - realistically it did stop when the rates stopped. Then when they dropped again the orices started moving again
     
  5. G TOWN

    G TOWN Well-Known Member

    Joined:
    26th Aug, 2016
    Posts:
    146
    Location:
    Geelong First Home Buyer
    Hey Elvis good on ya for ignoring all the negativity and giving it a go. I don't know anything at all about Sydney, but why not go for a regional centre that's still driving distance to Sydney? I'm not sure if the Central Coast or Wollongong would be a possibility...
     
  6. vbplease

    vbplease Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    626
    Location:
    Brisbane
    How about rentvest? I.e. Invest where you think you'll get the best return and rent where you'd like to live..
     
  7. hash_investor

    hash_investor Well-Known Member

    Joined:
    11th Oct, 2015
    Posts:
    993
    Location:
    Sydney / Canberra
    Excellent idea. With the budget OP is looking at they are better off rent vesting. That would be a win win situation.