NSW [PPOR] Croydon/Ashfield/Concord: First Home Buyer max budget $850k~

Hi all

I'm in my late 20s and getting ready to make my first purchase after a few years of renting out. My plan is to buy and live in an apartment for a few a years and turn it into an investment property down the track.

Ideal property:

• Max capital growth
• Near / easy access to CBD
• Pleasant suburb (minimal high-rise buildings)
• Max 850k
• 2 bedroom+
• Built around or before 2000

I'm interested in any comments about 2 bedroom apartments around the Concord-Croydon-Ashfield area. My absolutely max budget is probably around $850k. Would this area fit my criteria? Also happy to hear any other suburbs near the Metro West Project.

 

Ok bud, I'm only posting this cause I just bought a place, otherwise I would be all over this and not posting it here for someone else to beat me to it.

9/164 Edwin Street North, Croydon NSW 2132 | Domain

One of the best streets / apartment blocks in the area, nice little secluded cul-de-sac yet super close to the station. Has direct access to a common backyard for bbq's. Solid as hell construction, and ground floor too so it feels like a house. If you can get this within your budget you've done well. It's a stunner and one of the best apartments available that I've seen for a long while. As I said I'd buy this myself if I still had cash.

 

based on your research, what prince range do you think that property would be considered as fair market value?

 

This sold for $885k, however this was fully renovated:

Sold 11/164 Edwin Street North, Croydon NSW 2132 on 20 Jul 2020 - 2016325065 | Domain

HOWEVER this was back in June. The market has moved on. My bet is anywhere between $850-$900k, but you should go to the auction anyway...you never know.

 

Sorry just to clarify, you think the inner west apartment market has retraced ground significantly since July 2020 and 9/164 Edwin St will sell between 850 and 900?

 

Yes the market has gone up since then.

 

sorry i've been away for a while. just noticed it sold for 810k. so whoever got it must have got a good deal!