Hills Area or closer to city??

Hi everyone,

We happened to sell our home about 10 months ago in the hills area in the hopes to get closer to the city. Well, needless to say, we’ve fallen quite behind because our neighbour (almost identical home) sold for about $700000 more than what we did. Honestly can’t complain because we had a few months to search but were very hesitant at the time.

What’s the best option for us now? Do you think we’re at the peak yet? We’re obviously going to be overpaying compared to last year & won’t be able to find something as nice as our old home.

We’re flipping between a duplex near Strathfield or if we should buy a free standing house in the Blacktown area. We intend on staying short term before the market slows down but don’t want to incur any future losses as hard as it may be to predict.

What seems the safest option right now? Possibly somewhere that will see capital growth in the future to make up for the losses we made? Currently renting now and setting our budget to $1.6mil.

 

You could possibly buy this. 10A Gloucester Road, Epping, NSW 2121 https://www.realestate.com.au/property-house-nsw-epping-136080114
If you don't get put off by the driveway and there is some Epping Road noise. The neighbours are great though . Also the current owners put a lot of work into it, if you are interested I recommend getting a pest and building inspection to make sure you are happy. Whether or not it will be above or below 1.6mill is anybody's guess, but the driveway and general position will put off some buyers. If it wasn't for these factors, the property would easily be 2 mill or more.

Brisbane, Adelaide, Melbourne, Hobart, Perth etc.... they are also all options for your 1.6mill budget and you might not even have to spend that much.

 

@Gockie - that does look cheap (on the guide). Nice sized block but it must be in FZ or have a high BAL so some money may be needed to "protect" the asset.

 

Current owner put a lot of work into it, so no work may need to be done for many years. Though, people need to make up their own minds. And yes, it must be in a fire flame zone, I can not imagine it wouldn't be.

 

For $1.6m you may be able to snag a Duplex/ Townhouse on c. 300m2 on Lower North Shore. That’s where I’d be looking anyway.

Also look at Gladesville, East Ryde, Lane Cove.

 

Thank you. Why townhouse/ duplex in these areas? I don’t think I’ll be able to find a freestanding home in those areas anymore.

 

That’s why

 

It all depends on where you work and plan to "have a life".

 

May I know which suburb did you sell 10 months ago?

 

Guide now increased to $1,350,000 to $1,485,000.
I checked it out... the Epping Road noise makes it a no for me though.

 

Ouch!

+ 1 for closer to the city

 

Update: The vendors have an offer they are happy with, so the agent is giving everybody till 4pm tomorrow for their last chance to buy it.

 

And it has now sold via a private auction, a week early.

 

any idea on the price?

 

Pming you

 

Saw that it had a sold sticker on it 2 nights ago, $1.61M

 

cheap

 

Indeed!

 

The Epping Road noise was the real negative for me. Fine in the house, but if you wanted to enjoy that massive balcony, it's really obvious.
That's why it was a reasonable price. Heaps of interest in the home though, long lines at the opens.

 

That must mean you went past my home again....