FHBs Unite! - What are our options?

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)?

 

Hi Elvis unfortunately you have to buy brand new homes to receive the grant.
First Home Owner Grant | Office of State Revenue
Just be careful with buying a unit if you have plans for it to become a rental after the required 6 months of you living there. Sydney has a lot of units at the moment.

 

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

 

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

 

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...

 

How about rentvest? I.e. Invest where you think you'll get the best return and rent where you'd like to live..

 

Excellent idea. With the budget OP is looking at they are better off rent vesting. That would be a win win situation.