Hello Team, First home buyer here. I found something OTP that I like, it is a Toga Development in Marrickville on Victoria Road. But I am having some concerns Toga Development reputation? Delay? Marrickville Aircraft Noise? (They included double glazed windows in bedroom, but I don't know how much it cancels out the aircraft noise) Any insights would've been appreciated!
Hiya Wise What be your LVR if you are borrowing , and when is expected completion pls ? Mareeeeekaville as a burb is pretty good. ta rolf
It is expected to complete in late 2022, early 2023. But of course we all know it is going to delay LVR is around 80% I reckon.
@hammer I did a bit of reading, but there just not much options with a similar size, layout and design in my budget compared to OTP, and gives me extra time to save more. That's why I become conscious on if the developer is decent and if the aircraft noise is livable...
Are the risks worth the benefit ? Finance risk Valuation Personal Circumstances Market Risk Would you be able to settle if the val was 30 % lower than purchase price ? On the other hand, if the market takes off super dooper and the sunset clause expires, you get your deposit back, but have lost the opportunity cost of the deposit and possibly no access to finance due to an impending commitment ta rolf
Thanks Rolf. Still quite a bit to think about I know. Cause I am not an investor in mind, very simple mind when it comes to living, buy a place, live in, that's all. Thanks for giving me something to think about. That's why my thoughts and initial questions mainly circling on livability. Good developers? Aircraft noise?
If its built properly you shouldnt have trouble with the aircraft noise (other than when you have doors/windows open). I was living in a newish built double glazed place in Mascot for a short time and other than seeing aircraft out the window I was none the wiser. I'm not a construction expert but I believe there is more than just double glazing required to keep the place quiet, which leads back into the OTP can of worms. Something to bear in mind anyway.
Thanks @MB18 ! From what I was told the developer put double glazed windows in bedroom, acoustics panels in between timber floor to minimize vibration. But I think balcony door is normal glass. So I am a bit 50/50 on the sound proof..... Thanks for the insight! I never lived in a double glazed place, so I honestly have no idea how effective it is haha.
I'm used to it more for heating isulation rather than noise. Maybe spend a night at one of mid to upper range hotels out at the airport for an appreciation, although flight schedules are barely a resemblance of more normal times right now.
Objectively , if you are concerned about noise, dont buy near the fly path................... ta rolf
Toga have been around for quite a while and mainly build for the serviced apartment and hotel sector.
Toga has been high end i have seen a few other projects to completion and were good. With no planes flying now its so deceiving . I was at Ikea in Tempe and could not believe how quiet the sky was. Ditto Kurnell on Sunday was gorgeous no planes (1 every 20 minutes or so maybe less as opposed 1 every 1/2 min) Give it 24 months and status quo returns and things will be different. We looked at Mascot once and it was too much noise for us. DYOD
You will only be bothered by landings. Have a look at a map and locate the two parallel north south runways. Draw a line along the western runway and extend it north. That's the landing path. It will pass just north of Sydenham station and I think to the north of that development. If you are on the other side, it should be fine. That development has two live music venues close to it: Red Rattler and the bowlo. Us locals are worried that the new residents in that block when it gets built will start complaining and have them shut down.
