How to buy interstate?

Discussion in 'What to buy' started by LisaHerbz, 19th Nov, 2017.

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  1. LisaHerbz

    LisaHerbz Member

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    We are in NSW and pondering buying investment flat in suburbs of Adelaide. Any strategy ideas with finding the right place/area? Our research so far has been online real estate, google maps/satellite, suburb profiles etc
    We are cautious with our money and looking for long term growth/future rental income (retirement is still 20+yrs away) and have a smaller budget in mind hence looking at this area (apart from loving Adelaide city vibe/potential uni access for our kids). Is this the right choice?
     
  2. Sackie

    Sackie Well-Known Member

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    I know very little about SA but I'd be looking for a house if it were me. I'm sure the SA pros will fill you in. @DaveM @Corey Batt @Xenia @D.T.
     
    Last edited: 20th Nov, 2017
  3. LisaHerbz

    LisaHerbz Member

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    What is the reason?
     
  4. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    @LisaHerbz
    You mentioned small budget - how much are you looking to spend?
     
  5. LisaHerbz

    LisaHerbz Member

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    $250 000-$300 000.
     
  6. LisaHerbz

    LisaHerbz Member

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    So is this site advertising services or advice?
    Just looking for advice for any future posts.
    Thanks.
    Lisa
     
  7. Sackie

    Sackie Well-Known Member

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    If you haven't figured that out over the many thousands and thousands of posts of people helping each other out then....:confused: Some people on here are business members but there is an abundant of free advice many posters give to help each other. Even the business members often post a lot of great free advice.
     
  8. DaveM

    DaveM Well-Known Member

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    For that budget you can buy a house in the mid north/south. Units/apartments are not as popular here for investors, and catering to families is a good long term strategy
     
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  9. Simon Hampel

    Simon Hampel Founder Staff Member

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    Most of the time :rolleyes:

    We generally do get very helpful responses from people.

    Regarding the comment about flats vs houses in Adelaide - I don't have any data to back this up, but in general you'll find that outside the inner suburban areas, generally houses will give you a lot more options regarding adding value and future potential growth compared to flats.

    With flats you lose some flexibility due to strata issues (you don't control the building or the decisions made about it) - which can either mean that money doesn't get spent on maintenance when it should be - or worse - the owner occupiers want to keep everything looking amazing and so spend a lot of money on things that aren't actually that important.

    Not saying you can't make money on flats - but they can be more complicated and some extra care/diligence is required.

    If your budget doesn't allow you to buy into a house in the area you think is worth investing in - then a flat may be your only option.
     
  10. LisaHerbz

    LisaHerbz Member

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    Thanks. I had read other posts which is why i joined re.advice. Patience is obviously what i was missing as first responses where lacking. Look forward to future posts
     
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  11. LisaHerbz

    LisaHerbz Member

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    Thank you @DaveM
     
  12. LisaHerbz

    LisaHerbz Member

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    Thank you for the advice. Much appreciated.
     
  13. Eric Wu

    Eric Wu Well-Known Member Business Member

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    welcome to PC @LisaHerbz, many forum members have bought interstate during the past. Going with an experienced reputable buyers agent is a good way. you can also do your own DD, ask as many questions as you can think of, many ppl here are willing to help.
     
    LisaHerbz likes this.