NSW Recommendations for mid-20s first home buyer in Sydney

Hey everyone

I am looking to buy an established apartment (preferably 2 bedroom) in the 600-750k range in Sydney (can go up to 800k if needed but prefer not to).

I work around Townhall and still need to go into the office 2-3 times a week. So, ideally, I am looking for somewhere that is 20-30 minutes away. I do not drive (for some reason I never learnt to) so was hoping for somewhere on the train line.

I've considered Strathfield, Ashfield and Lane Cove so far. Of the three, I liked Lane Cove the most (people and area seemed the nicest) but the lack of trains does give me pause. I also liked Ashfield given the shops it has (Aldi, most chain supermarket/fast food joints, Asian food) but I heard it wasn't that safe at night.

Is there anywhere else you would recommend me? I am a bit of a homebody so I don't really care if I'm not right next to clubs or fancy eateries. Just mainly looking for somewhere safe, quiet, and with good shops nearby.

Also, I'm single and have no kids.

Thanks everyone

 

Buy a house in brisbabe and rent.

 

Agree with Thedoc (although not just limited to Brissy), have you considered rentvesting as a strategy?

 

I used to live in Ashfield, I don’t know where you got the safety opinion from but it’s as safe as any other inner west suburbs.

Moreover, it has a massive future upside potential compared to other places you mentioned given shopping center and surrounding infrastructure is a bit outdated.

 

Buy a house in Western Sydney with a decent block. Live in the place for 12mths to get the CGT exemption.
Then rent an apartment whereever you like.
Later put a granny flat.

 

Buy a place to live in. Get a car, spouse, dog. Have some kids. Don't need to learn or obtain license to keep kids spouse house. But u will need one for the car.

Buy an investment property in Brisbane and retire there when kids are grown.

Don't catch COVID.

 

I'd also say definitely rent. While there is nothing wrong with apartment living, but I've learnt it the hard way that 2 bedders in Sydney do make terrible investment choices (even as PPORs).

With the current bargain rental market the interest + strata alone for a mediocre high-rise apartment somewhere far out may put to into a nice 2 bedder on the North Shore. And you can at least lock that price in for 12 months!

For car-free lifestyle look for areas around major hubs with multiple train/metro connections and true walking distance to major shopping malls (I mean under 500 metres without highway crossing). Look into Chatswood (pricier), Strathfield, Epping etc. All within 30 minutes to the city. And if you don't mind traveling up a bit in the 40-50 minutes range Hornsby's a decent place too, quiet, decent demographic, good connections/shops and super pedestrian friendly inside out.

But again, put your deposit money on something else.

 

Buses from Lane Cove to the city are excellent. Give it a go.
However, an investment property (house) in Melbourne, Brisbsne or Western Sydney is another option.

 

Lane Cove is definitely a lot more upscale but being mid-density apartment living isn't as "mainstream" as around the hubs, amenities are more spread out, people tend to bus to work (which is indeed excellent) in the city but still drive a car to everywhere else. As a non-driver myself I'd say definitely stick to train lines, and you want more than one line to the city in case one breaks down, it's a major quality of life factor IMO. Obviously the sweet spot would be picking a rail hub that isn't low socio, which isn't a challenge north of the harbour bridge.

On the flip side, units in more prestigious suburbs do tend to escape the oversupply curse gravely suffered by the ones in the rail corridor, so if OP insists on buying in Sydney and can stomach the occasional need to wait for a bus to get to places on a Sunday or can find one place that is ultra-convenient and in the right price range, sure do snap that place in Lane Cove or its North Shore / Inner West equivalent as it could be one of a kind. Just watch for the common pitfalls of buying strata...

 

$750k is a bit tight for an above average apartment in Lane Cove.

Rentvesting is a good idea but I accept that some can’t do it (including myself - I just need the security). For your budget I would also consider Kogarah.