NSW If you Must buy Apartments in Sydney

I'll agree with that.

 

For similar amount I would probably go for a house since it has a land and you can run wide with your imagination with it.

I personally own a house in Quakers Hill and also bought an apartment in Rouse Hill so I can't really comment which one is better as I believe both are great.

Be very careful of the distance to city perception as I believe in the future closer to the city will no longer be favourable given the new metro run from rouse Hill to the city will make commuting fairly easy and stress free in compare to the extremely crowed suburbs that are close to the CBD.

you will also find the time to commute are similar too since suburbs that are close to cbd tends to stop at more stops where as suburbs further away tends to have more express train.

I travel to the city very often and if you drive during off peak hours it really only take me slightly over 30mins from city back to Quakers Hill. (this topic has been slightly disccused in another thread and I believe someone did a Google map search and confirmed it actually doesn't take long)

 

Given that the median price for a 3 bed house in Rouse Hill is 900k (according to realestate.com.au) it makes very little sense to spend 700k on a 2 bed apartment. The more inner suburbs listed have houses from 1.5-2 million plus so the apartments are clearly better value for the location

 

Why do you think that?

 

Lakemba has 2 bedders for mid 3s I saw. Even cheaper than the example posted

 

Lakemba is considered a much lower quality area for various reasons and it is reflected in the price

 

Yes I went and had a good look around. I get the vibe there. I still deem it undervalued given proximity to the cbd nonetheless.

 

Then buy an IP or two

 

I'm monitoring the market. Might get one for high 2s before too long?

 

Thanks for the overall perspective on both areas. I, too, shares many similar views as the ones addressed by you. Coincidentally, I also have a similar plan to invest in somewhere like Quakers Hill or Marsden Park in the future. I have read plans about railway construction Marsden Park set to commence in late 2019 and finish on 2020, but I have yet to find any schedules or anything so I doubt we will see it for half a decade or more. That will give me some time to get back on the market after Rouse Hill. That is my initial plan anyways.

The initial plan is to invest in Rouse Hill for growth. The metro line should finish at least 6-8 months before the 2 bedder apartment. I am targeting the young professionals from the nearby business parks. The town centre, retail centre, and the parks at Rouse Hill should be able to provide the convenience and entertainment they seek. If they need to go to the city, the metro will be a viable alternative as commuting by car could be an issue due to traffic and parking. Quakers Hill investment is not about growth but for lifestyle it offers--not so much of anything else.

As for my reason to overlook area around the city is because not everyone is working in the city. We could be renting to people working in the surrounding area of the property. Ryde, Rhodes, Merryland, and Epping are the other areas I did look at. Epping is the most promising of them all in my opinion, but unfortunately I am not quite there yet financially and I might just as well make good use of the stamp duty concession as a first home buyer for my first purchase. I know there are still apartment unit for around 600k at Epping, but the location is not desirable--noisy, old, and unattractive in general.

In regards to supply of units, I have more confident in Epping than Rouse Hill due to Epping's proximity to the CBD, Macquarie University, Macquarie Business Park, Norwest Business Park, etc versus the 3750 new unit availability in Epping region, however, the Rouse Hill apartment at Rouse Garden is still better than many other projects in its surrounding when considering the distance to the station, town centre, and floorplan in general. I did consider Kellyville, but I think it is not as attractive when talking about what is in the area.

 

So you'll be buying the apartment in Rouse Hill?

 

That is my plan, but I am here to see what everyone think as a second confirmation since everyone here seems to be better informed (not to mention more experience) than I am.
If, during the discussion, a better suburb comes up, I will ditch it

 

Lakemba is dangerous dirty and unpleasant
hence being so close to CBD and priced where it is.

 

This is where you are wrong.

A lot of keyboard warriors some with no property.

Filter who you listen to . Learn who has track record in area you are looking at.

 

Thanks for the advice. I am taking everything here with a grain of salt.
I also do a lot of digging on realestate.com to see available listing for sale, rent and sold, then compare them to house/unit prices.
Once I organised everything, I might post again to show my process of elimination to narrow down the list of possible suburb.

My plan is to buy something to rent out. As for what happens after that, it really depends.

 

That's disappointing to hear. I was genuine on my advice, it seem my time and everyone else's is wasted responding to you in the first place. My last post on this thread.

 

Please do not misunderstood my statement. As a first home buyer, I genuinely value each feedback I received as it is another piece of advice. Whether we like to admit it or not, we must always double check everything that we were told instead of taking it as it is. If you take offense to that, I am sorry, but I am sure I will be sorry if I just take everything as it is without doing my homework.

 

ok, I might misunderstood your statement, but considering most people here are trying to help you avoid obvious mistakes, "take it with a grain of salt" does make one a little infuriated don't you think? It quite obvious that most here are advising you against purchase off the plan especially in areas such as Rouse Hills, they don't do that for their own benefit they say it trying to help you.
I have seem plenty of people get burned in off the plan even in better times that I can write pages and pages of examples. The place that you going to buy have the value of the Metro and town centre already baked into it (their marketing make sure of that and more) so the growth you think you will get will likely not happen especially in the current Sydney condition were are just starting to see prices falling for apartments. Anyways if you do decided to buy that apartment then I hope I am wrong and good luck.

 

Re: Lakemba. Wiley Park is neighbouring it. I feel sorry for anybody who bought at peak.
Ps. I'm sure they'll bounce back, but who knows when....

 

Hey Gockie newbie question, what's that app you got there that's giving you that median value graph?