When is the good time to buy & in which place in Sydney surrounds

Discussion in 'Where to Buy' started by Ritam, 18th May, 2020.

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  1. Ritam

    Ritam New Member

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    16th May, 2020
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    Westmead
    Hi,
    I have question, is it good option now to buy home in box hill for $750k-dbl story ,4 bed ,2 bathrooms and 300sqm land? Or do I need to wait for a while to price drop or look option in other area? Thank you
     
  2. Liza28

    Liza28 Active Member

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    Following
     
  3. Jess Peletier

    Jess Peletier Mortgages, Finance & Property Strategy Aust Wide Business Member

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    Perth WA
    What are you trying to achieve? Is this a home or investment? Are you building new or buying established? Eligible for FHB?
     
  4. John_BridgeToBricks

    John_BridgeToBricks Buyer's Agent Business Member

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    Ritam, whenever someone asks with respect to property, "is it a good time to ...." I personally check out a bit.

    Firstly, fortune tellers never make any money in real estate. The people who succeed in real estate are looking for deals and looking for good quality assets, but they almost never look to time the market. Read Warren Buffet on this.

    My sense is that if you don't own any real estate at all, now is always the right time to buy. Only people with an existing portfolio have the luxury to wait for the right time to buy (and even then, they will be wrong about timing).

    I know it is a cynical response from me, but no one knows if now is the right time to buy 300 sqm in Box Hill. If it is a house and land package, I would avoid it. But to Jess' point, if you plan to live in it, and if you like the property, you should go for it. Just by buying a property, you are doing better than most Australians.
     
    C-mac likes this.
  5. Trainee

    Trainee Well-Known Member

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    Serious question, are all fhbs this vague? And do they actually think there is a perfect time to buy?

    you would think fhbs, of all people, would give more thoughts about what they want to buy.
     
  6. Tony Xia

    Tony Xia Structured Loan Advisor Business Member

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    Location:
    Bella Vista
    Ritam,

    Everyone wish they could pick the bottom of the market. If we could, we would be millionaires now.

    If buying for investment, you can sorta sit back and wait. Owner occupied maybe a different story.

    Being box hill and an H&L package, I doubt prices will drop.