I've just moved to Adelaide and need to buy my first house. I will be living in Adelaide for around 4 years and am looking to rent/sell the house out after. I don't really know where to start or where to look or what to ask the real estate agents. How do I find out if there are any proposed developments (i.e. train lines) and what the predicted growth surburbs will be in the next few years. Any tips on buying would be greatly appreciated.
Thanks,
Julie
Do you have any factors influencing which part of Adelaide you want to buy in? As in, are you needing a place near your place of employment etc. I know a bit about the North and North East but couldn’t offer any help for other regions.
Ruth
Hi Julie
Wont comment on the area as i am not an expert on the surroundng suburbs but flexibility in regards to the loan structure could be very important for your future planning.
Personally i would make sure your mortgage broker suggests a Interest only loan with 100% offset account so that if you do decide to rent the property out you can protect the deductible interest.
Not all lenders allow an interest only loan for a PPOR so make sure he / she has some ideas as to what your future goals are.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Hi Ruth,
I am working in Edinburgh so I was hoping to drive no more than 40 minutes to work. I had a look around ridgehaven and wynn vale but im not sure. any advice would be great.
Hi Richard,
Thank you very much for your advice.
Regards,
Julie
Qlds007 wrote:Hi JulieWont comment on the area as i am not an expert on the surroundng suburbs but flexibility in regards to the loan structure could be very important for your future planning.
Personally i would make sure your mortgage broker suggests a Interest only loan with 100% offset account so that if you do decide to rent the property out you can protect the deductible interest.
Not all lenders allow an interest only loan for a PPOR so make sure he / she has some ideas as to what your future goals are.
Cheers
Yours in Finance
Hi Julie
I work in Wynn Vale and lived in Tea Tree Gully for many years so very familiar with the areas you are interested in. The area around Ridgehaven is close to the O’Bahn terminus so this means easy transport for people to go into the city. The O’Bahn buses then of course can continue on the road and go to the Golden Grove shopping centre terminal. It really is a good area for transport and also for education. Golden Grove/Wynn Vale has a lot of families and heaps of schools so if I was looking at this area I would be looking for a 3 bedroom plus study house. Prices are going to start at about $350k. The blocks are small with very little in the way of yards as Golden Grove/Wynn Vale was a planned development with parks pretty much every km or so!! The Golden Grove shopping precinct is also excellent with Big W, Coles, Foodland and many small shops too. And Ridgehaven, being right next door to TTP, is well serviced. Ridgehaven is an older area than Wynn Vale and has the start of some redevelopment happening. Gulf View Heights is a nice area, probably the nicest close to Edinburgh. I think I would look at parts of Modbury Heights before Ridgehaven myself. I think the properties are nicer in Modbury Heights than Ridgehaven. But there is plenty of choice in that area as suburbs like Surrey Downs, Redwood Park etc are worth a look too.Cheers
Ruth
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