NSW IP under $500K

Hi there,

Looking to buy an investment property. My budget is only <500K. Would you recommend a unit at one of these suburbs - Mt.Druitt, Blacktown, StMary's, Kingswood, Werrington. Do you recommend any of these suburbs over other.

 

For under 500k the quality of units in say Kingswood would be poor and quite tired. A vila in Kingswood would be closer to 600. For around 500k I would try to snatch a house in Bathurst Region if you are lucky,

 

Don’t buy a unit in these suburbs. I suggest that you look into interstate opportunities (Qld, SA, WA).

 

Thanks for that. You share my opinion on the quality at this price range.

Before starting with the unit search in above mentioned areas, I did some online search on Bathurst (and other regional suburbs). There are houses, you are correct. My main concern is finding a property - I mean the inspections etc. I didn't find it viable to travel every week from Sydney to all those regions to find a property.

 

Slowly I am also reaching to that conclusion. My challenge with other states is same as the one I mentioned above in my reply to Serveman. Practicality behind the inspections etc.

 

I'm on a similar budget, will go for a house in Brisbane.

 

I am also now thinking along similar lines. How are you going to arrange inspections etc. Are you planning to travel to Brisbane on a weekly basis till you find a property or through friends or is there any reliable agents?

 

I'll hire a Buyer's Agent. Some good ones in this forum from what I've heard.

 

Thanks mate. Good to see someone in same boat as me. I am also considering a buyers agent. All the best with your hunt.

 

You too, good luck. I shortlisted some buyers agents after talking to a lot of them and will choose one and close the deal this week, let's see how it goes. Have you decided yet?

 

Which suburbs you guys looking?any recommendations for buyers agents?

 

As others have suggested, I would steer away from an apartment in any of those suburbs. There are so many markets out there where you'll be able to buy a freestanding house for <$500k, higher rental yield, no strata levies or body corporate etc.

 

For this budget Perth has some good options and they provide a better rental yield as well.
Also Perth vacancy rate is now record low despite the border is still closed.

 

I am yet to start looking in Brisbane. How about you. Have you shortlisted any. I am also looking for buyers agent recommendations.