Kingswood - $750K - is it worth it?

I'm looking for property in Kingswood. Decent primary school (Kingswood public) and not way too expensive properties - that is what brought my attention to it. My daughter will start kindy in two years.

For now, we want to buy as an investment. We may move in there in 1.5 years.

Of course, 'rough areas' - I get that a lot. So not sure if it would be a good decision to move to this area in future. I live in West already

I bought an investment property in Merrylands last year - decent tenant and rental there as of now.

I came across a couple of good properties in south part of Kingswood. Good block of land (650sqm+). Generally priced around $750k.

Would it be a good investment which may eventually be PPOR if things work out well?

 

If its eventually going to be a PPOR then only you are best to answer that question and it sounds like you have a pretty good idea of the area.

From an investment perspective I would focus more on picking up the right property at the right price rather than the suburb specifically. If you focus specifically on a suburb then you may miss out on deals in neighbouring suburbs. Keep your search criteria open and if anything it will help you compare prices and properties against the ones you see in Kingswood.

The only potentially negative I see in Kingswood (from an investment perspective) is the amount of rental supply on the market relative to the size of the suburb however if this is going to be an eventual PPOR then this may not be of great importance.

 

Thanks Shahin. I've been looking into St Marys, Colyton and St Clair as well. Depending on the condition of the property, it ends up being the similar price range as well.

However, from the future growth perspective, I'm not sure if Kingswood would yield better than the neighbouring areas?

 

Thats why I would focus on the specific property and price combo rather than the suburb.

For example, i'm a huge fan of properties with rear lane access so if I can find that then I'm going for it. Chances are agents and purchasers won't realise the benefits of a rear lane and thus won't pay more than a traditional property.

This is just one example but again look at the property rather than purely focusing on a suburb and ultimately guessing on whether it will have a couple of % more CP growth than the neighbouring suburb.

 

Thanks! I got a bit of homework to do now

 

I would be looking at properties that have a little something extra for the future so things like rear lane, extra wide frontage, multiple lots on a single title, R3 zoning, etc.

 

Why do you like a rear lane,what's the benefit?

 

Alternative street frontages - in future when there's no spare land left, every boundary to the street will be valuable. That's why currently corner blocks are a lot more sought after than standard regular lots with one standard street frontage. Land is where the value is for an investor, the house is just for decoration. That's very different from PPOR perspective - where the house has some value in providing shelter over your head.

 

What onyx said - you have more construction and development options versus stock standard property with no rear lane.

 

When I saw the title I thought it was referring to a Holden "Kingswood - $750K - is it worth it?

 

The last holden made sold for $750k 'Last Holden' made in Adelaide snapped up for $750,000 at auction

 

I posted this link yesterday amazing