Property around 300K

Discussion in 'Introductions' started by Newcastle, 6th Oct, 2019.

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  1. Newcastle

    Newcastle New Member

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    6th Oct, 2019
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    Newcastle
    Hello all,
    I’m new to this group and to the property market.
    I live in Newcastle - renting.
    I don’t own property.

    Im planning to buy a property around 300K, so the maximum portion of the mortgage is paid by the rent.

    Will it be easy to manage if I buy in other locations like Melbourne/ Brisbane.

    Thanks for your time.

    Regards.
     
    Newcastle, 6th Oct, 2019
    #1
  2. Archaon

    Archaon Well-Known Member

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    Not all that familiar with Bris/Melb, but I don't think you will buy quality property for 300k in Brisbane or Melbourne.

    You might find some old weatherboard homes for 300k around Maitland etc
     
    Last edited: 6th Oct, 2019
    Archaon, 6th Oct, 2019
    #2
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  3. wylie

    wylie Moderator Staff Member

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    You can still buy a two bedroom old style six pack unit in Coorparoo or Greenslopes (just looked last week) but you may still find you are not cash flow neutral.
     
    wylie, 6th Oct, 2019
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  4. Shogun

    Shogun Well-Known Member

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    Shogun, 6th Oct, 2019
    #4
  5. Newcastle

    Newcastle New Member

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    Thanks for your reply.
    Is it viable to buy in other location? Or we may end up spending more on travel couple of times a year.
     
    Newcastle, 6th Oct, 2019
    #5
  6. Trainee

    Trainee Well-Known Member

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    If you buy in another city, you rely on property managers to handle things.
     
    Trainee, 6th Oct, 2019
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  7. Shogun

    Shogun Well-Known Member

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    I visited my property twice last year. Once was to supervise electricians doing work which was my choice to do. The other was minor maintenance because I wasn't going to pay $50 for 5 minutes work.

    Where you live is not always a good place to buy.

    $300k is a small budget . Go to $500k in Perth lots better options
     
    Shogun, 7th Oct, 2019
    #7
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