NSW Thoughts on Bardia - Home and Land package?

Hi all,

I've recently joined the forum and this is my first post.

Here's my currnet situation:

- Income: 120k gross + 80k(wife)
- saving: 100k + 3k/month.
- IP: 2br Newtown terrace. Purchased 640k, now 1.2m. equity 800k.

As my kids no longer need nappies changed, I finally have mental capacity to plan for the next IP.

I've been looking into buying a 800k ish HnL package in Bardia in the hopes of some CG.

I understand the price is already gone up and I can't expect much CG like the old days.
But after a visit to the site and Edmondson Park plans, and the local school(5min by walk) getting massive upgrade seems very promising.

The house is on a 450sqm land($1100/sqm) and within walking distance to the school, future shopping centre and station.
Commute to city takes only 45min, every 15min by train, not to mention the west sydney airport nearby.

My very uneducated strategy is that hopefully in the next few years this suburb will continue to grow and with my increased equity I could start buying more affordable units.

If it doesn't work out I'd PPOR instead - I must say it's such a lovely spot to raise family!

Am I making a 800k investment mistake by putting too much emotion on it?

Thank you in advance.

 

I don't know anything about the specific property or area, but my answer is "probably". Number of reasons already come to me off the top of my head.

1. Your strategy seems to be just "buy and hold", which personally I feel is just "buy and pray" - not great at the best of times, and Sydney currently doesn't seem like the best of times.

2. A house and land packages again are generally not the best for investment, for a number of reasons - similar to off the plan properties.

3. Mixing PPOR and investment also rarely is a good idea. Some of my best IPs I would never consider living in - which meant that I could not get distracted by anything that wasn't a profit-making factor.

 

Hey thanks for the quick reply.

This area is part of the South West Growth Centre and is seeing significant development. Though it's already factored to the current pricing, I feel I have done enough research to be confident than just praying.

This, I have no idea why
I saw waves of Chinese investors buying in areas like Box hill, Marsden Park and Bardia. It can't be all that bad?
Could you enlighten me why it's generally not the best investment?

Agreed.