Size vs location in Sydney units

Discussion in 'What to buy' started by s.wana, 11th May, 2018.

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  1. s.wana

    s.wana Member

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    Hello I am looking to buy my first property but trying to think of it from an investment P.O.V aswell.

    $650k 1 bed Coogee (rents for $500) vs 650k 2 bed & L.U.G St George / Shire (rents for $430).

    Coming down to size vs location, Any advice from investment terms?

    Thanks a lot.
     
  2. Property Twins

    Property Twins Mortgage Brokers & Buyers Agents Business Member

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    @s.wana

    I don't have specific advice on the areas...question for you - what would you like this property to do for you over the coming years (from an investment point of view)?
     
  3. Cimbom

    Cimbom Well-Known Member

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    Of those, I'd definitely pick Coogee but I'd need to see the specifics of the apartment. Location is the most important aspect for apartments - I don't think they really make sense as investments or even PPOR unless they're in a really good location. That said, I wouldn't necessarily be buying anything in Sydney at present unless it was an amazing deal
     
  4. Jane Ridder

    Jane Ridder Well-Known Member

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    Add strata levies and those numbers don't look great. Have you thought about a house in a different market?
     
  5. s.wana

    s.wana Member

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    Thanks for the reply, I guess capital growth would be the key thing really
     
  6. s.wana

    s.wana Member

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    Ok thanks, I am in no rush have a deposit and renting quite cheaply at the moment so not feeling rushed, just doing research now so that I can act when I find something good with any luck.. :)
     
  7. s.wana

    s.wana Member

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    Hi Jane, thanks for the reply.. I am primarily looking for somewhere to live in Sydney that will hopefully prove to be a good investment at the same time.. Were you thinking that I should invest elsewhere than Sydney?
     
  8. Anthony Brew

    Anthony Brew Well-Known Member

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    If you have to go for Sydney, out of those 2 options, I'd choose Coogee. Hopefully you can make sure it has a a balcony , a car space, is at least 50sqm, not on a main road, does not have elevators or gym in the building (they increase cost of strata), and is one of the older style apartments where there are only about 18 or 24 in the block.
     
    Brickbybrick and Gockie like this.
  9. s.wana

    s.wana Member

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    Hi thanks for replying, ticks all of those boxes I think apart from the balcony which has caused me to hesitate...
     
  10. Illusivedreams

    Illusivedreams Well-Known Member

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    $650,000 Will get a nice place on Caringbah South 2 bedroom Bathroom and car spot /garage and rent for $550-$600

    I just checked on RE.

    The area is also growing and developing and has a Train direct to City, Cronulla beach and Bondi Junction
     

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