I am thinking to sell my unit and buy a townhouse. Both the unit and townhouse are in Liverpool. Both are within walking distance to Westfield. And of course townhouse is a bit far. The new townhouse is 650k, is it worth to buy? I also concern about the potential growth of the unit, I think in long term townhouse has a higher growth rate than unit. Any thought? Thank you.
That's a 'how long is a piece of string question' =). Is this unit a PPOR? Are you upgrading? When you say 'new', do you mean the townhouse is off the plan? If it's a PPOR, then I'd personally go for it. It's a lifestyle decision really. Agreed, townhouses have land component that units don't. More in demand from personal experience.
Hmmm...personally I would not buy now in Sydney....why not wait? Have a look at markets which are growing......like Brissie and Outer Melbourne...
There is no data that I am aware of that separates unit V t/ouse capital growth. There is only house data and unit data (which lumps all strata property together). So you'd better have more than a "thought" to help make this decision. Bear in mind that buying and selling trashes a lot of cash/equity.
Geez, I would have thought $650k would be a budget to buy a solid home on a good sized block in that region. Or am I completely behind the times?
Yeh you're thinking of years back. Nowadays blocks in the new suburbs of Liverpool council range from about $1500/m2 for the tiny blocks, down to about $1000/m2 for the decent sized ones. 1mil+ has now become the average for a decent house on a ~600sqm block down that way.
It's nuts. 650k still buys something good/decent in many other Australian cities, no where near as far out.
Depends what you're looking for, you can still pick up older houses with good land content for 650-700k however if it's a PPOR, the emotional side is more of a factor as well. If you're set buying in Liverpool, from an IP perspective i'd buy a house on good land in close proximity to the cbd. With the recent R4 rezoning for most of the cbd, this will only push out medium density to the surrounding suburbs which gives you the option to build 3-4 townhouses later down the track. The risk is buying at this point in the cycle, however if you're adamant about buying now i still think it's a better bet long term than a townhouse for similar money. 61 Morison Drive, Lurnea, NSW 2170 - Property Details 15 Thomas Avenue, Lurnea, NSW 2170 - Property Details Or you could go the other way and pay 70k less for a townhouse and catch the 10 min bus to westfield. 1/49 Rowe Avenue, Lurnea, NSW 2170 - Property Details