NSW Unit in a good location vs house

Hmmm... options 1 and 2 I could definitely do. 3 I'm not sure of because of a commute.

That Westmead townhouse complex appearance seemed a little too jam packed for my personal liking. Though it may be completely fine to live in. It just struck me a bit too much at first impression. (Westmead is definitely good though with accessibility to Parramatta and city and near hospitals. Can't go wrong). Keep looking in that general area but with more friendly looking townhouse complexes?

Alternatively a duplex somewhere but if you have to further trade off location then it might be another no.
Note, Sydney prices may or may not rise further, no crystal ball.

 

Thanks Gockie for another great suggestion. I received a response from the agent and he indicated the price guide to be over 700k plus which is hard to believe given the recent sales around the corner. There's not many townhouses per se in Westmead and especially on a street with untimed parking and two car spaces. The strata is around $700.

The place may look too jam packed but the land space is around 170sqm way more than 101sqm units I'm currently looking around Marsfield.

Also light rail is a go from basically a street away from the location perhaps that would push up the prices.

Decisions decisions :--(

 

Have you tried searching Ashfied and Marrickville/Dulwich Hill units. Suits your price range and theyre much closer to the city.

 

Yeah I have but honestly don't like the hustle and bustle of the city. For me, 30 - 45 Mins drive is fine whilst still living a leafy suburbs

 

I would be wary of purchasing any apartment NOT in the CBD or Northshore particularly anything out West.

 

Thanks Rowan, can you please elaborate?

I'm looking for existing units around Westmead, Marsfield and West Ryde surround

 

Can anyone elaborate on this? Looking at apartments on the North shore in particular and whether buying now or waiting is a good idea.

 

Hi @Gabbaking and hope the search is progressing well. My opinion (for what it's worth ) competition for the sub $650K price bracket for existing 2x1x1 established units is only going to increase in the coming months, as first home buyers take advantage of the new stamp duty concessions.... this especially will affect those suburbs close to transport hubs, desirable blocks that don't have massive strata levies as well as "fixer upper" units that FHBs wouldn't be otherwise able to afford. All the suburbs you've mentioned are perfectly fine- Ryde, Parramatta, Epping areas all located well.

Take little note of price guides in this market as some agents are known for serial underquoting (despite the legislation) and instead get a good handle on the market yourself if going alone. We've bought many many units for clients over the last 12 years in all these areas and with Sydney's boom activity of the past 4 years good cap gains have been had.

My motto- buy when you can afford! Happy property hunting

 

Thanks jacqui for an comprehensive reply however house hunting has taken a bit of back seat and need to sort out couple of issues.

In past months, I have been outbided on numerous occasions especially into the 650k mark. Places I had an eye on was Westmead, Marsfield and surrounds. Honestly, I don't think I can buy it by myself without being put under immense financial stress.

The issue is that GF is not keen to buy atm and wants to rent out around Ryde surrounds due to her work being in Mosman and being early stages in our relationship. We had a discussion and she stated in the future she would definitely be down to buy and move in which is well and good. Personally, I don't want to wait that long also would like to make something for myself.

Now, I'm thinking should I buy an unit around Campbelltown for 450k and keep majority of my deposit for future purchase or don't worry about Sydney all together and purchase an unit in Brisbane for 450k? When time comes atleast, I'll have some equity to use.

What's everyone opinion?

 

450k gets you a house in Brisbane!

 

Yep, I reckon buy a house in another state as well, Brissie still good value atm for houses whilst you continue renting in Sydney. This is despite me selling OTP and H+L packages, most the buying seems driven by Indians and middle eastern who are high income earners. There are cheaper houses in Penrith/Kingswood and Mt Druitt if you're happy to live there. I believe these areas will be popular too due to the price range for FHBs. For Brissie, consider North Lakes, areas around Petrie, Logan and Ipswich. IMO Ipswich is perfectly poised for a boom.