Ryde Area Cheap old apartment as PPOR

Make the offer you want. Worst case you dont get the property.

 

If you are only interested in Ermington PS, then look at the areas around it, or whichever school you are interested in. You are looking at buying as a homeowner, more than an investor. when does your child have to be enrolled for kindergarten?

 

There's a real chance of recession right now. Keep looking, get pre-approved and keep your pennies so you're ready for that great opportunity.

 

Thank you @Blueshoes99 , I do have a mortgage broker and we are eligible to borrow way over than the price range I am looking at, not keen to pile up big debt. We are also not keen on spending time on travel to and from work.

Having lived at other parts of Australia I am finding it hard to comprehend to what one could get for $500 k in NSW compared to rest of Australia.

 

@larrylarry It will be 2022 intake. If things don’t settle as per liking we will not have a second thought to rent in at what is considered as a good quality suburb just for the schools.

 

@Sannie schools in ermington, carlingford, epping, west ryde and dundas areas are all pretty good in my opinion.

 

That’s what I am doing to keep the LVR @80% and under despite our little conservative portfolio of stocks are looking very very attractive to place a buy in order. I for one will be kicking myself when I am holding cash even after next 12 months.

 

There are the odd exceptions though.

Info... I've lived in all those suburbs except Ermington.

 

well, my children go to one of the less known schools but teachers are great. Things have changed a lot in the last few years.

 

This is then a mindset question - you are comparing sydney to the other places you’ve lived. At the end of the day, if you can afford more and it is your ppor, then you need to think about the lifestyle you want. If it’s an investment decision, I have a whole other perspective.

If travel is a concern, think about trains or light rail suburbs instead of bus suburbs - population will increase and travel will take longer.

You need to think about the concept of opportunity cost of your decision.