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

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

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

    Ritam New Member

    Joined:
    16th May, 2020
    Posts:
    1
    Location:
    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
     
    Ritam, 18th May, 2020
    #1
  2. Liza28

    Liza28 Active Member

    Joined:
    9th Jul, 2017
    Posts:
    36
    Location:
    NSW
    Following
     
    Liza28, 18th May, 2020
    #2
  3. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,685
    Location:
    Perth WA + Buderim Qld
    What are you trying to achieve? Is this a home or investment? Are you building new or buying established? Eligible for FHB?
     
    Jess Peletier, 18th May, 2020
    #3
  4. John_BridgeToBricks

    John_BridgeToBricks Buyer's Agent Business Member

    Joined:
    25th May, 2018
    Posts:
    2,428
    Location:
    Sydney
    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.
     
    John_BridgeToBricks, 18th May, 2020
    #4
    C-mac likes this.
  5. Trainee

    Trainee Well-Known Member

    Joined:
    24th May, 2017
    Posts:
    10,343
    Location:
    Australia
    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.
     
    Trainee, 18th May, 2020
    #5
  6. Tony Xia

    Tony Xia Structured Loan Advisor Business Member

    Joined:
    23rd Aug, 2015
    Posts:
    1,574
    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.
     
    Tony Xia, 22nd May, 2020
    #6