Hi all, Long time reader and have found this forum insightful. I was wondering if you are guys able to help me out, as I am now looking for my first home and a bit confused in terms of buying and if I should buy: established unit close to the CBD new unit close to the CBD (soon to be complete) --> use 1st home incentives established house in an established area (like Quakers Hills for example) new house further out (and if so, where?) --> use 1st home incentives I would wanna stay within $750,000, although I could go up to $850,000 but that come at an additonal cost of sacrificing FHB incentives. Preferences: I am quite flexible in terms of my requirements, as below: preferable within 45 minutes commute to the CBD happy with 2BR, but 3 preferred. at this stage, my idea is to live in the property for 3-5 years. potential for capital growth. Wondering if you guys are able to share your experience and examples. Appreciate your help!
I'd go for option 3 - land is good. If you are OK with the travel to the city from QH, I'd go for that. Established house - as you pay more for the land than the building. Where as for brand new, its reversed - you pay more for the building than the land.
Have you considered purchasing a villa or a townhouse instead? This way you may be able to get the FHB benefits, and hold back funds as well - ideally maximise the borrowing if this property will become an investment property down the line. What are your plans after 3 - 5 years?
Seven hills,kings Langley, toongabbie,winston hills. Seven hills train station to central 35 minutes. You could a house in these areas with your budget.
1 or 3, with a bias to #1 depending on the asset selection. Land is land, but not all land is created equal. If you are going to live in the property for 3-5 years, which is not a short period of time, your own preferences should trump any advice you receive on this blog. So consider where you work, go out, etc, and what areas you like. It is always hard giving location advice to owner occupiers, because you are the one who will have to live there.
I know, it's what I think every time I try to go a bit further out. As I want this property to be an investment later on, not sure if a house 30-35 KM is a better option or an apartment within ~10 KM.
I guess the equation looks like this: apartment ~10 km Zone villa/townhouse ~ 15 - 20 km Zone house ~ 30 km+ I am treating this as a first property which will eventually turn into an investment. After 5 years (max) I would want to move to somewhere with a bit more space. So eventually, this will be an investment.
Been considering, given the proximity and price point. I have driven past Seven Hills area and looks OK.
I am currently renting a unit in inner west (Enmore) and have liven in inner west for 5 years now. I can see myself living here long term. I have also lived in a similar area to Quakers Hill, Kings Langley, etc. I guess at this stage I am looking for an option that has decent yield and potential for growth. Living wise, I will be OK in either of the areas.
South side of the station is better north side in the music bowl area is also good. Agents like to label houses in lalor park as seven hills just be cautious of this as most of lalor park is a big miss. Seven hills station also has a big car park and a good bus terminal.
If you want this to be an investment at a later date then you need to ask yourself what dwelling type would be the most desirable in 10-15years a apartment, townhouse or house? I know there has certainly been a massive shift in the last decade towards townhouses as many people are trading backyards for courtyards. Also why there has been a shift towards townhouses is because people are having less and less kids. Bare in mind that most baby boomers will be retired by the end of this decade so what type of dwelling you think they will want to live in? Most of them I believe will be downsizing from a house and probably will be ready to go with cash.
Best rd side has a carpark aswell but there is a multi story and outdoor carpark on the other side of prospect highway.
Toongabbie has some great aspects for both IP and PPOR, slowly growing avg prices too will start to shoot up - Fast trains and T-Way to Sydney CBD - Lot sizes average 600m2+ - Decent amount of recreational parks - Situated between two hot spot CBD hubs (Parramatta & Blacktown)
