Selling 2/2/1 108m2 apartment in Schofields

What’s the price range for just 6 months old apartment in Schofields?

-2 beds/2 baths/1 garage and 4 built-in storages
-2 balconies
-500m to Schofields station
-500m to Woolworths
-400m to upcoming Schofields Village
-Metro line is also proposed

 

Why are you selling? There are tons of them available.

 

You chose xhamster as your username? Really?

 

I though buying a piece of land from developing area is better than renting out this unit.

 

10-30% less than you paid for it.

Why? GST in the purchase price, developer's margin, oversupply, OTP pricing etc.

 

What did you pay for it?

 

I'll give you $3.50.

 

Why did you think it was a good idea to buy this in the first place?

 

Not to mention it's not really the right product type for the area.

If someone is going to live 60-90 minutes from the CBD they want land. Apartments are a compromise that make sense 15km's from the CBD, but once you go beyond that the logic behind them kind of falls away.

 

I am amazed by the number of apartments in Schofields being built. Why would Blacktown council approved all these apartments is beyond me, especially the new town centre has not even been built yet.

 

You are going to lose quite a bit on this. I would say 15-20% discount from what you bought. All the land have gone up so you need significant more borrowing to buy a house around the same area.

 

I bought this in November 2019 (with first home buyer grant). I had to wait considerable time to move into because of a compliance issue + Corona. Meantime I purchased double story house. Now It's also ready to move in. I have completed my 6 months in this property according to first home buyer conditions.

Now I want to invest on couple of lands which are about to get registered in 2023.

One option is to rent out this property.

What do you guys do if you were in the same situation? Renting or Selling?

 

wouldnt have bought in the first place. The grant is a builders subsidy to lure in buyers.

 

You realise any investor that buys your unit will have reduced depreciation compared to buying it straight from the developer, right? Why would an investor buy yours?

and owner occupiers would not get a brand new property when buying from you. But there are plenty of brand new ones available. Why buy a 6 month old car when you can get a new one?