NT PPOR Darwin

Discussion in 'Where to Buy' started by Darwin55, 15th Jan, 2019.

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  1. mtooler

    mtooler Well-Known Member

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    I bought in Leanyer and love it.
     
  2. Ariyahn2011

    Ariyahn2011 Well-Known Member

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    G'day guys,
    Am I right by stating that you only receive the grants as one family unit?
    Can you get decent properties for around the $400K mark?
    I've always been an LIC/ETF man myself, but interested to learn more in the local Darwin market.
    Cheers
     
  3. hammer

    hammer Well-Known Member

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    Do you live in Darwin? If you do then GO FOR IT!! Heaps of stuff around at fantastic prices.

    The grants are for one family unit. 400k is easily doable now for a 3x1 house on a large block.

    Darwin is still a no go zone for investing but
    if you're after a home for your family it's never been better. :)
     
  4. Ariyahn2011

    Ariyahn2011 Well-Known Member

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    I do live in Darwin, we currently in Bayview, but it is way too expensive, and the midges are unbearable. I came here initially so my son would qualify for Stuart Park Primary School as this was in the catchment zone.

    Although, I am currently getting contract work, and my wife is studying, but we do have a good 90-100K to drop by the time we buy.

    I am tempted to buy a house here, we love it here, and I can see us staying here for 5 + years or so. When you say it is a no go for investing, is that because you are unlikely to get any capital growth?

    I am quite into Financial Independence (even have my own blog as a bit of pass time), mostly because I was med discharged from the Army, so having financial security is extra important to me. So purely from a Financial Independence POV, unsure if purchasing a home is the right thing to do, or just rent wherever we want to live, and keep chipping away at the Stock Market.

    I did note some previous posts in this thread that buying a home with a granny flat can be a smart move. We would totally be open to leasing this out to a student in Alawa for example. Might smash the loan quicker.

    Cheers Hammer :)
     
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  5. hammer

    hammer Well-Known Member

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    Pretty much. The capital growth situation is touch and go at the moment.

    However if you're going to stay for 5 years anyway, a home starts making a lot of sense, even without the cap growth as rents here are still high.

    Basically it's often cheaper to buy than rent. Especially if you were to move out of baygonview to Alawa....
    :)

    Just make sure whatever you buy is out of the storm surge zones and designed for the tropics. The coolmob website has a guide for what to look out for. It's well worth a read.

    Good luck!
     
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  6. Ariyahn2011

    Ariyahn2011 Well-Known Member

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    Many thanks Hammer.

    Good point, we will look into it :D...

    Cheers for the tips re coolmob.

    I am off to Melbourne for a week for Uni .. I left Melbourne originally for the weather, that place keeps dragging me back!

    Have a great weekend!
     
  7. sauber

    sauber Well-Known Member

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    Get me down to funky town!
    @Danny N maningrida ey? What you doing there? We lived there. my wife was there for 4 years. Myself 1. You get a reverse culture shock when you come home
     
  8. Ariyahn2011

    Ariyahn2011 Well-Known Member

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    Sorry for the late response. It was a lovely community. I did some workshops in the school :)!
     
  9. mtooler

    mtooler Well-Known Member

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    Smarter people than I can explain this, but seemingly positive for buying PPOR in Darwin at the moment if its housing in the city or northern suburbs.
    upload_2019-8-5_13-12-26.png
     
  10. Danny N

    Danny N Member

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    Thank you Mtooler.

    Would you mind suggesting some decent suburbs in the northern suburbs?

    I am relatively new, in no rush to purchase a house, however, you never know.

    Cheers
     
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  11. hammer

    hammer Well-Known Member

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    I think we're just bouncing along the bottom now.

    The market has done it's thing!
     
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  12. Darwin55

    Darwin55 Well-Known Member

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    I’d say it’s a good time to buy a PPOR. A lot of my friends have gotten great deals in the last six months or so.

    I can’t see it dropping out much further.
     
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  13. mtooler

    mtooler Well-Known Member

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    I bought in Leanyer. People on here looked after me as to suburbs and pricing. Went to about 40 house inspections before buying a 5/2/2 for low $600s.

    Been in Darwin for 8 months now, happy with Leanyer. Good advice I got was don't buy in Karama, Malak or any suburb that starts with a G. I'm very comfortable that I avoided buying in the rural and Palmerston areas.

    While I defer to others knowledge, I was tempted by Stuart Park closer to the city, in the north Leanyer and Parap and Fannie Bay. I don't mind the reputation of desirability of Nightcliff and Rapid Creek, however a fair bit of crime there.

    Darwin market is very much a street by street basis over a suburb by suburb basis. Avoid close proximity to servos, parks, pubs, bottlos and shops.
     
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  14. mtooler

    mtooler Well-Known Member

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    Both Hammer and Darwin55 have superior insights to me Danny, flick them a PM. Also depends on what house configuration you are after, being a family of 7 we needed a big house. There's a truck load of 3/1/1 less 4 bedrooms, a couple of 5s.
     
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  15. Ariyahn2011

    Ariyahn2011 Well-Known Member

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    Thank you for that mate.

    Apologies for the change of account. I forgot my log in details at work and turns out I have two accounts somehow :)...

    Cheers
     
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