First Time Home Buyer Perth

Hi all. I am very new to typing let alone on this forum. I just got a new computer.

My name is Shanon and I currently live in Mandurah I currently work in the mines on a 3 week on/ 1 weeks off roster at Karratha Gas Plant. And guess what, its summer in Karratha......... and I hate it....... every summer for the past 6 years. Enough is enough, so I think ill begin finding another way to earn some income as apposed to baking in the ambient heat like a ginger bread man. So right now I am in the process of buying my first house within the Perth region with the intention of investing in multiple properties and if successful, the sky is the limit. If not, then ill go to "plan b" and become a Monk.

I am in the stage of searching for a team(accountant, broker etc.) and also anyone to help me start this journey on the right foot. I hear there are some get togethers in Perth area and would like to attend one if it falls onto my Rostered week off.

Seems like a great tool this site and have already learned a lot already by viewing different discussions on here. Especially the sport forum lol.

Any help will be much appreciated.

Thanks All.

Shanon.

This took like 1 hour to type.

 

Welcome aboard

@Jess Peletier is a good broker from the same town. She'll be able to help you out.

Cheers

Jamie

 

Hi Shannon, welcome to the forum. And congrats on the new typing skills

We're due a meet up down here (I live in Mandurah too) so let me know your swings and I'll make sure it's when you're off work.

 

What do you have in mind in terms of budget and the type of house you wanna live in?
Sad to say Mandurah is no-touch suburb at the moment unless you really want it to be just a PPOR. Plenty of suburbs in Perth that have taken a beating and still going down so plenty of time to bargain hunt.

 

Anywhere between Mandurah and Freo. I know it limits alot of potential but that's the boundaries that my Ministry of Finance(wife) has set lol.

So at the moment looking around Aubin Grove/ Success/ Cockburn Central/ freo area established. Baldivis is very cheap also. As a first home buyer my budget will be around $550K max.

 

Don't know what's happening with Baldivis - too many lifestyle blocks. Aubin Grove had/has unsubstantiated demand from first home buyers in the last boom.

Depending on how many bedroom/bathrooms you need, Success/Cockburn can find stuff. How about suburbs closer to Freo, Willagee - many development blocks - nothing stacks up right now but could be handy in the future.

 

Hamilton Hill? new builds will be on small blocks but within your buget. Or you could get an older home that maybe needs renovating on a block with subdivision potential.

45 Plantagenet Crescent Hamilton Hill WA 6163 - House for Sale #122960834 - realestate.com.au

 

I'm no expert but I would stay away from baldivis , byford etc.
Too many of the cheapest houses on the smallest blocks. But with the most expensive down lights, taps and door handles.
With no draw to the area apart from price. Future slums in my opinion.
And the original 1st home buyers are now moving out from baldivis looking to upgrade etc from what I've heard from local agents.
prices are droping in and supply is massive.

 

I agree with this - I know people who bought there 10 yrs ago and they've done nothing but drop. I reckon around Cockburn you can't go wrong - buy something with development potential and turn into an investment down the track.

Or Buy something nice in Mandurah - some good buys around at the moment.

 

G'day Shanon,

Great work on having the want to get out of working up north. Reading the posts here is a great place to start.

I would recommend taking some action toward your goals by beginning to meet other investors, attending home opens, obtaining / creating an investment property analyser.

Glenn

 

I thought Mandurah was a no go zone? Wouldn't mind buying here however will there be much growth in certain areas?

 

No such thing as a no go zone (a few exceptions like a ghost town or contaminated properties).

You just need to buy at lower prices.

 

Sorry mate john quoted Mandurah as a "no touch suburb" just wanted some light shed on the reasoning.

 

Yeah definitely Jess.

I am on a 3/1 roster. Am in town until this Wednesday then out until 22nd Feb. Be good to catch up with everyone.

Cheers.

 

Re Mandurah being a no go zone, depends what you're buying - for owner occupied it's perfect timing. Less so for investment unless you're buying beachfront and are handy with the tools.

I'm flat out next week but I'll make a meet up thread for when you're back.

 

Sure thing Jess.

 

Mandurah does not have a particularly good track record for capital growth. If someone was seeking capital growth, I wouldn't suggest Mandurah

 

The only stock I would buy in Mandurah are canal blocks and for PPOR only. There is simply too much dev stock. R60 is minimum for many blocks. I seriously considered just buying one and holding onto it. This was a while ago and I am glad I didn't. Sad to say Mandurah didn't really benefit from the last Perth boom. Maybe there'll be a Peel only boom in the future?

I am referring to Mandurah as in the suburb and it's immediate suburbs. Mandurah actually starts at Madora Bay with Singleton being the southern most suburb of Perth. I will consider Dawesville/Bouvard as the southern most part of Mandurah region though it extends a bit further out.

Lakelands grew quite a bit largely because of new estate and first home buyer market and there is still heaps of land left. I would probably look at Madora bay (I believe Jess owns some good quality stock there) but it's not a particularly cheap suburb and can buy decent stock in Perth for similar money.

For IP, I personally would only look at Mandurah, Dudley Park, Halls Head and maybe Erskine if for no other reason than limited land supply. Mandurah is really a mixed bag. Halls Head has multi million dollar homes on the canal and only a km or 2 down the road, Mandurah has sub-$300k stock with R60+ zoning. Go figure.

All of above won't matter much if you are buying a PPOR but once you've done your research, just for funsies repeat your research to find out what you can buy with similar money in Perth and what it would mean 5, 10 years down the road.

As others have suggested, talk to many people, learn as much as you can and come to your own conclusion.