Hello all good folks.. I am struggling to narrow down the suburbs where I would like to buy my first home. My budget is $750K, and looking buy a house/ townhouse / land / land-and-home-package. My main purpose to buy is PPOR , and also looking to leverage the FHB if possible. We are a young couple both working in city, and have no kids. Looking where we have good transportation, where we can walk or drive to station/stop. Many of my mates bought a land in Marsden Park and Jordan Springs, but land component is very small there. Also, have been advised by many people in my vicinity to not buy any property now ,and wait till mid 2019. Would love to hear from you guys in which suburb, it would be best to buy. Thanks, Ram
Hi @RamK Welcome to PC. Its correct Marsden Park (and other newer estates) have very small land component - and bulk of the purchase price relates to the building - buildings depreciate, land appreciate in value. Also, it would be a lot of travel to the city. Have you considered suburbs in and around Parramatta ? Undervalued in comparison to neighbouring Hills district.
People bought in these areas without any research and during boom period.... The prices relative to the land sizes are more expensive in these areas compare to lets say areas close to Parramatta which in insane.. is 750K ur max limit? Another 100-150K can get u a reasonable house (500sqm, u can always add value down the track) in this market around Parramatta suburbs
Not mid-2019, more likely 2020-21 before the dust settles and a clear trend emerges - whichever way it might go in the medium term
Re the timing of purchase .... it also depends on your life goals - e.g. having a family. So you need to tie in with where life is heading.
You can look at Quakers hill. Big land and livable houses on offer. Due to the price range its attracting lot of buyers and properties are still going under contract within days and weeks after open homes despite the slow down
Jordan springs is a no no for me, too far from m4 poor transport to Penrith train station close to some average parts of cranebrook. Jamisontown and south Penrith are far better options. Also Glenmore park if you can get somewhere close to an exit road. regentville and Leonay also good options though prices are a bit higher in those 2 suburbs
In a similar situation right now. Still exploring options, we're looking at some home and land packages, currently looking at Kellyville and surrounds and also around leppington area. We are in talks with an agent who is presenting options for us with our requirements, some decent options so far, but just not ready to bite the bullet yet.
Just make sure they are a real Buyers Agent representing you and you're paying them a fee to source the options for you, so they have your best interest in heart. If they're actually getting paid by developers then you'll need to keep your eyes wide open as they could potentially be flocking remaining stock to you. Cheers, David
Thanks for the heads up. They're not a buyer's agent, they're a sales agent. I approached them to enquired about the home and land packages that they had for sale. Had a few discussions on my requirements, not pushy at all as you would expect from a typical sales agent. He presents me with options and it's up to me to decide, Ive done my own homework to validate the options and would be the same if not cheaper than what it would cost me if I was to do it myself.
I'd second @AAA2214 's recommendation here to consider Quakers Hill. Sure you're not getting brand new housing but there's good stock well priced in the mid $700K's range for freestanding housing walk to station. Eg: 119 Summerfield Avenue, Quakers Hill, NSW 2763 Average blocks 500-550sqm - new side vs old side but streets off Pye Rd like Summerfield, Sherridon etc are presenting good value in this market. We've bought for many clients in this suburb (and surrounds) since 2005 so know it pretty well. Mainly home owner territory and though the "newer side" is more sought after than the original side (Railway Rd west side of station) there's certainly choices here. Even more if you elect to go townhouses/villas/duplexes. FYI the current environment can actually help here as lots of buyers running scared and so sitting back doing nothing... less buyers = more negotiation power that's what we're finding. As long as you do your research, recognise value and are finance-ready why not buy? No one can pick the bottom of the market and there are still incentives for your price bracket as FHBs so take advantage whilst you can. If labour comes in and neg gearing is abolished, there may well be a swathe of investor activity on the low side of entry level buying competing with you (which could artificially inflate the market) so some unknowns but it's not like you're buying well above median (currently $750K for houses in QH) or into an area that's had large growth drops. In fact, over the last 26 years QH housing has only experienced cg drops twice: 2005 (-7.8%) and 2018 (-6.8%) so minimal risk if you're buying and holding for PPOR purposes medium to long term. Best of luck with it all
Thanks, Which suburbs shall i look around parramatta.. ? I have looked around blacktown, but i have heard there is a stigma around Blacktown.
Thanks gary, Unfortunately, at the moment, thats my budget. And agree with you, that prices relative to the land sizes are more expensive in Marsden Park and Jordan Springs
I know I'm a bit biased.....but take a look at St Clair. You can get a nice home for your money, and it's easy access to the M4. There's a lot of things for kids/families to do around Penrith, which is only a short drive. I can get to Parramatta, Liverpool, Wetherill Park, Penrith etc, all within 15 minutes. Drive to St Mary's for the train & you can get the fast one to the City.
There are some reasonable pockets around Schofields. We just had friends move out of a 2 bedroom unit in Waverton to a 4 bed house out there which is close to the train station and Costco. They seem happy enough and I’m fairly sure it’s in your price range although 4 beds can push into $800k. - Andrew
What's the land size in Schofields....I think this area is just stupid...800K for a house (even though new) on 270-300 SQM...No thanks
On every property in Schofields? I don’t think so. I just put a search into RE with a parameter is 500sqm+ and plenty came up! - Andrew
