NSW villa price in Schofields(OTP)

Discussion in 'Where to Buy' started by ray586, 1st Jun, 2018.

Join Australia's most dynamic and respected property investment community
Tags:
  1. ray586

    ray586 New Member

    Joined:
    1st Jun, 2018
    Posts:
    3
    Location:
    sydney
    Hi Guys,
    we have liked one off the plan villa (3bed,2bath,1garage).. I don’t like duplex for some reason...Don’t know why:)..size is not too bad... 160sqm+ builds up area and 280sqm+ Including courtyard...(this is the best in size so far in all the properties which I have inspected in western Sydney :)).Location is Near boundary road/Schofield road...Asking price is $730K. What do you think about the asking price? Reasonable, Good value for money? I am the first home buyer and buying for living. Planning to live in this property for at least 5-7 years !!!...I am trying to negotiate a bit..but doesn’t look like price is going to come down... .Let’s see...
     
    ray586, 1st Jun, 2018
    #1
  2. AAA2214

    AAA2214 Well-Known Member

    Joined:
    16th Jan, 2016
    Posts:
    336
    Location:
    Sydney
    Whats the reason to buy the new shiny property? If its just for the FHB grant then its a bad idea. Schofields has lot of new stock, you should negotiate.

    40 kms from CBD and you are not getting the land component too. Not sure its a good value for money especially with lot of new house and land packages available in the area.

    If you are not chasing FHB or the shiny stuff, can advise to look in Quakers hill, you will get a good size block(500+) with a decent 3 bed house to live in for around 730 to 800k.
     
    AAA2214, 1st Jun, 2018
    #2
  3. ray586

    ray586 New Member

    Joined:
    1st Jun, 2018
    Posts:
    3
    Location:
    sydney
    Reason for buying :
    Budget is maximum $700k. Don’t want to go beyond this.
    location - it’s near Rouse Hill/The Ponds/Stanhope/Marsden Park- Max 10mins
    15mins walk to train station
    10 mins drive to new train station(not ready yet)
    All new houses in and around the area where I am buying. No apartment.
    Garden in 50 meters of distance.
    Average size for a freeestanding villa. Trust me I have looked at at least 50 floor plans in Blacktown council area.
    I Don’t want to buy house. My partner doesn’t want old properties
     
    ray586, 1st Jun, 2018
    #3
  4. AAA2214

    AAA2214 Well-Known Member

    Joined:
    16th Jan, 2016
    Posts:
    336
    Location:
    Sydney
    With all houses around, dont you think there will be less demand for villas/townhouses/apartment in that area?
     
    AAA2214, 1st Jun, 2018
    #4
  5. ray586

    ray586 New Member

    Joined:
    1st Jun, 2018
    Posts:
    3
    Location:
    sydney
    Yes, you are right...!! But I am not buying as IP so not worried about the demand in near future(at least for next 5-7 year)...also i don’t think I will get a house for my budget in Schofield:-(
     
    ray586, 1st Jun, 2018
    #5
  6. jprops

    jprops Well-Known Member

    Joined:
    24th Sep, 2015
    Posts:
    895
    Location:
    Sydney
    It seems like you may be fishing for some confirmation bias here. Most people on this forum will advise against OTP, particularly in areas with a lot of supply.

    You asked the question do people think this price is "Good value for money" and it would seem one person has replied, who believes there is better value elsewhere.
     
    jprops, 1st Jun, 2018
    #6
  7. bob shovel

    bob shovel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    6,935
    Location:
    Lower Blue Mountains
    Have you looked at the other new houses for sale? Eg lived in <5 years old? How do they compare?
     
    bob shovel, 1st Jun, 2018
    #7
Client Directed Portfolio Super your way

We provide our clients with the opportunity to select their own investments from a wide range of ASX listed securities. We provide the research to ensure your selections will achieve the goals. This is the value of advice.