Hi all, I have been reading SS and property chat for some time now and have found it a great resource. I have found a great buyer's agent, broker and pest guy all through this forum, along with lots of knowledge. Thought it best if I actually make a post or two and see if I can contribute something as I slowly get some experience. I am from Sydney, bought my first property (IP) last year in Brisbane using a buyers agent. Now it has come time to buy a PPOR in Sydney for the family. Given Sydney prices it might be a while before I get any more IPs but I do hope to do so in the future. Will continue to read and hopefully throw a couple of posts around and get involved.
Have you considered buying a PPoR in Sydney, but rent it out for a few years (up to 6 years before any GCT kicks in if you ever sell) and rent somewhere yourself until the prices settle, then move back into the PPoR and buy another IP??
Thanks for the warm welcome guys! We are looking to buy upper north around Thornleigh, Westleigh, Normanhurst area. Looking for some stability for the kids so aim to pick something and live in it for a loooong time Haven't looked at renting it out but unlikely to, want to move in and make it home. Certainly very different looking for a ppor compared to trying to find IP. I haven't even seen the Brisbane property we bought... completely emotionless
@JBe - hear the market has been crazy there....I guess it has been in most places in Sydney. Agree, PPOR is a much more difficult decision. Will come down to your buying power and willingness to compete in this market. You will find the right one though. Personally, it helped to have a really clear criteria on the negotiables and non negotiables. When you see the right deal it will be quick.
Picked one up in Everton Hills. Didn't feel like a bargain, market was competitive at the time but it rented straight away and yield is at 5% so pretty happy with it so far.
Good stuff. Is there any scope for developing there in the future? Everton Hills reduced their minimum block size I think.
Welcome @JBe. Feel free to come to our North Ryde meetup, you'll find it in the meetups section! Ps. The Upper North should do well as the new M1-M2 link will take the trucks off Pennant Hills Rd. I really love the green leafiness of Westleigh, and Thornleigh and Normanhurst are also quite leafy and has the convenience of train services.
Yes we love Westleigh, it is quiet and leafy as you say. It feels safe and the kind of environment we want to raise the little ones in. It does lack easy train access which makes it cheaper than Thornleigh/Normanhurst, and there are less investors to compete with. So hopefully we can pick up a nice little family home within budget. That northconnex tunnel can't come soon enough. I commute pennant hills road every day.... it is the bane of my existence . I am sure it is aging me prematurely.
As long as they don't do something like they did to Epping Rd when they introduced that tunnel and turn a perfectly decent three lane road into a one lane road...
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