Would any body be kind enough advise on investing in Chisholm, NSW 2322 (Near Newcastle) in the current market condition. I was offered in new ‘Waterford County Estate’a new Duplex Property just under $700K. This is supposed to generate around $150 K once strata titled, with positive cash flow. I am trying to extract manufactured equity for further investments.
Can the property Gurus advise me if Chisholm is a great location to invest as of now. HTW property clock indicates Newcastle sitting at 12.00 O’ Clock. I guess Chisholm is some 30 km away from Newcastle. I will wait for valued advise from experienced members.
Hi Busybee,
I was offered in new ‘Waterford County Estate’a new Duplex Property just under $700K.
Wow !! Must be paved with gold !! Or I am mis-understanding something…..
Before I go too far, let me clarify something – you see, I took your comment above as meaning that you are buying ONE of the two Duplex properties. If, in fact, $700k is the price for BOTH, it might not be such a bad deal after all.
Keep in mind, that I don’t know Chisholm at all, but a quick search of Chisholm’s market via realestate.com tells me that you can buy a brand-new home (4Bed 2Ba 2ga as a free-stander, not a Duplex) for somewhere in the $450k – $600k range. Also, the Median values for these show as $595k. And a 3 bedder from $400 – $500k.
One interesting point is that EVERY house For Sale in Chisholm appears to be brand spanking new – this must be a whole new Greenfield Estate, is it? i.e. it might have very little infrastructure? Maybe the values are all “over-egged” by developers as there are no existing homes to compare with. I would want a whole lot more background on this one before I came to any decision…..
Do come back if you can add more info, Busybee – it could change the whole look of things,
Benny
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