Hello From Western Sydney

Hi PC - I've decided now is the right time to consider purchasing a property, and this forum came up during my suburb searches so I thought I'd formally join!

Looking to buy a house in Penrith where I'll spend my next 30 years. Getting very nervous thinking about having a mortgage over my head for the first time. Plenty of doom and gloom on share markets, and scary things happening geopolitically, but I'm sure everyone had those concerns when they first bought and I don't want to be that guy 20 years later that never jumped in and his savings grew less than the property market!

My heart isn't totally set on Penrith, but I can't imagine the growth will be bad there over the long term, as opposed to say Richmond which might dwindle along very slowly.

Thanks!

 

I've had some mild success with shares - as with anything, you just need to have some skin in the game. Can't stand on the sidelines trying to analyse the game your whole life!

P.S. I'm happy to hear anyway talk me into or talk me out of Penrith alternatives!

 

Welcome aboard

Cheers

Jamie

 

Hello from Western Sydney @Doladin

What had you select Penrith?

Things will keep happening with the economy, and globally. However, you can only do what is in your control, and set yourself up over the long term.

 

Hi.

Welcome. So your sights aren't set on Penrith. I got a feeling you have been thinking about Mt Druitt. Yeah it happens to us all I suppose.

You see the cheap prices, big land, decent yield and then start running some figures through your head. Could be easy money but it's a crappy area. Just remember all ships rise with the tide.

 

Penrith & surrounds is a good choice if you are looking at starting a family. There's just SO MUCH to do out this way.

 

Hi! Yes, historically property ownership has been very important, so i want to be in that class! 1. I went to school near the area, so I'm familiar with it. 2. I've seen plenty of growth there, and I think there will be more to come! 3. Has all amenities to raise a family but still within budget to have a backyard. 4. Fast train line to Sydney CBD

For me, Penrith is a hedged bet - prices aren't super cheap, but I cannot imagine the price rises performing poorly over a long enough time period. I had a few people mention St Marys, Werrington, Cambridge Gardens, but I'd rather spend the extra 100k upfront.

Thanks! Yes, hopefully all the kids (hypothetically) can get around on public transport and my commute to Richmond will be easy enough!

 

Welcome to the madness. I’m looking for a property too but in a different area.