WA Kalgoorlie PPOR/IP

Discussion in 'Where to Buy' started by Spindogerz, 28th Apr, 2019.

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  1. Spindogerz

    Spindogerz New Member

    Joined:
    28th Apr, 2019
    Posts:
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    Location:
    Goldfields, WA
    G'day, currently living and working in Kalgoorlie, been here 4 months, renting a cabin at a local camp ground, i've noticed some 1-2 bd properties in the town are affordable and if i intend to stay here 3-5 yrs I may as well buy my own place instead of renting. Could be a good way to build some capital/equity, and get started whilst getting mentally and emotionally and financially prepared to buy a 2nd investment property in Perth or another major city.

    Any thoughts?......
     
    Spindogerz, 28th Apr, 2019
    #1
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    14th Jun, 2015
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    Location:
    Gold Coast (Australia Wide)
    Kal/Boulder is a large service centre for the region, and its multi industry not like some places where you may get stuck if for example the price of coking coal tanks.

    ta

    rolf
     
    Rolf Latham, 29th Apr, 2019
    #2
  3. Shogun

    Shogun Well-Known Member

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    Location:
    Perth
    If you really plan on being there for 5 years.
    I had a quick look lots of prices haven't changed since I left a life time ago.
    I would be real fussy about what area I brought in.
     
    Shogun, 29th Apr, 2019
    #3
  4. Westminster

    Westminster Tigress at Tiger Developments Business Member

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    Location:
    Perth
    How much does it cost to rent there? Would you be better sticking to renting and buying an IP in Perth?
     
    Westminster, 29th Apr, 2019
    #4
  5. H2O

    H2O Active Member

    Joined:
    28th May, 2020
    Posts:
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    Location:
    Bathurst
    Hey hey

    I am in the same boat. Still getting decent post 90s houses mid 300s however in Boulder.

    All good houses are 400 plus in Hannan, Somerville.

    Tried looking for rentals but to be honest bit too much. The mortgage will be almost ²/3 of the rent , maybe lower depending on the deposit.

    Thinking to buy a 3 bed while I am here for atleast 5 years..

    Thoughts ?
     
    H2O, 12th Jul, 2022
    #5
  6. BuyersAgent

    BuyersAgent Well-Known Member Business Member

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    Location:
    Oz
    You should meet up with @Phil2021 and help each other research
     
    BuyersAgent, 22nd Jul, 2022
    #6
    H2O likes this.
  7. strongy1986

    strongy1986 Well-Known Member

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    24th Jun, 2015
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    Location:
    VIC
    From an investment and long term hold point of view you are mich safer to buy an old place for 200k and do some grunt work and rent it for 450
    At least in a down turn you will still get $350 in rent and have a small loan if any.
    Buying for 400k investment in Kal is a bit risky IMO. Could easily fond yourself only getting $400 in rent in a slow market and upside in capital growth is not guaranteed.

    Pretty safe 400k options in Perth with good rent as well so dont see any real.reason to buy there
     
    strongy1986, 22nd Jul, 2022
    #7
    H2O likes this.
  8. H2O

    H2O Active Member

    Joined:
    28th May, 2020
    Posts:
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    Location:
    Bathurst
    You are right. The only issue is getting a 200 to 250k house in a good pocket.
    I am looking and will update.

    At the moment, chasing a 360k one in Somerville. Wish me luck :D
     
    H2O, 23rd Jul, 2022
    #8
  9. strongy1986

    strongy1986 Well-Known Member

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    Location:
    VIC
    good luck
     
    strongy1986, 23rd Jul, 2022
    #9
    BuyersAgent likes this.
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