NSW New to Sydney. $750k Budget

Hello all good folks..

I am new to Sydney, and struggling to narrow down the suburbs where I would like to buy a property.

My budget is $750K, and looking buy a house/ townhouse / land / land-and-home-package.

My main purpose to buy is PPOR , to be later turned into an investment property., and also looking to leverage the FHB.

I have done some research, and noted down few suburbs (not in any order):

• Marsden Park
• Riverstone
• Box Hill
• Rouse Hill
• Quakers Hill
• schofields
• new construction between Quakers Hill and Schofields train station
• Leichardt
• Croydon
• Winston Hills
• Castle Hill
• Bellavista
• kellyville
• Oran Park
• Schofileds
• north kellyville

We are a young couple, and have no kids.

Looking where we have train line, where we can walk or drive to station, as both of us travel to City and parramatta for work.

Would love to hear from you guys in which suburb, it would be best to buy.

Thanks,
Vij

 

Where will you live when you make this a ip?

 

Based on your criteria @Vijesh you can probably remove Leichhardt from the list straight away.

 

hi,
Thanks for your reply.
I have a small house in Perth, which we have currently rented out. Will most probably go back there.

Thanks

 

HI jane,
Is it because it is out of my budget, or no train lines ?

 

Both really.

 

Thanks Jane.

Noted.

 

Sadly you wont be able to find a house for 750K in most suburbs you listed. May be Marsden Park,Oran Park,Rivo?
Also since you/partner already own a property in Perth, you wont be eligible for FHB grant

 

Thanks @RedHat ,

You are right. I realised after reading your post that i wont be eligible for FHB grant.

What the land or Home-Land-Package in the suburbs listed ?

 

when do you plan on going back to Perth? do you need to buy a house in sydney now?

 

Hi @MoneyMan ,

Not so soon. Atleast not in next 6-7 years.

And yes, i am planning to buy house / house-land-package now.

Do you think, i should wait ?

 

No point buying now...it is going to get a lot cheaper......within 2 years.

Most of those areas have huge over supply issues......for example rents in North Kellyville are dropping like a lead balloon.

 

None of the above. I wouldn't buy a detached house in any areas in Sydney that are within that price range

 

I would rent in parra and invest elsewhere/later when you can see better value

Whats your overall strategy on property investing?

 

Thanks for the reply @MoneyMan .

Overall strategy is build a home now, and then later on buy a second home with the equity from the first one.

I believe, and i have been told that I may not get any house (new/old) within my budget. So i am looking to buy a land or land-home-package.

Is it the right move ?

 

If you're gonna buy a H&L package then:
1. You're most likely have to pay a premium due to developers, salesperson, marketing all wants a cut and guess who will pay those bills for them?
2. Sydney price is trending downwards, so if you're thinking to do the equity pull to fund towards your next home then it won't work in the current Sydney market

If you want to follow your current strategy, rent somewhere that's close to your work and then look at investing your money in another market...not Sydney.

Cheers,
David

 

You might get a livable/renovated 3 bedder house with block size > 500 Sqms in Quakers hill for that budget. Even in this cool market, properties in good location in Quakers hill and under 800k are under contract within days to few weeks due to the sweet spot price for the first home buyers

Few Examples

147 Walker Street Quakers Hill NSW 2763 - House for Sale #128914354 - realestate.com.au
63 Narcissus Avenue, Quakers Hill, NSW 2763 - Property Details
42 Brier Crescent, Quakers Hill, NSW 2763 - Property Details
11 Tangerine Drive, Quakers Hill, NSW 2763 - Property Details
29 Pagoda Crescent Quakers Hill NSW 2763 - House for Sale #128709854 - realestate.com.au

Few properties on the market which suits your budget
39 Torrance Crescent Quakers Hill NSW 2763 - House for Sale #128959494 - realestate.com.au
52 Farnham Road, Quakers Hill, NSW 2763 - House for Sale #128892722 - realestate.com.au
1 Afton Place Quakers Hill NSW 2763 - House for Sale #128892718 - realestate.com.au

 

Thanks @David Shih for replying.
So would it be wise, to buy a land instead of H&L package ? I can see some lands on sale in Marsden Park under $450k.

For the next home, i am not planning to buy it now, but later after 4-5 years may be. or sooner depending on my finance.

Thanks,
Vij

 

Thanks much.

Will look around quakers hill and surrounding suburbs.

 

Every time I feel the urge to go for inspection/auction- I remember you @sash , mate we have kind of shortlisted to 3/4 suburbs now - North Rocks, WPH and some part of Baulkham and Winston Hills (close to M2).

I must say-not many IP's in this area compared to Western Sydney so the impact of price correction seems very low at this stage.