Forum Replies Created
Thank you all for your advice. I have come to the conclusion that I want to keep it simple, at least for now. I plan on taking my time, doing the research and finding a positively (or neutrally geared) property in an area due to grow. You have all provided plenty of food for thought down the track but for the moment, stability and simplicity are key for me. I know playing it safe doesn’t make you rich but right now, I’m just happy to be able to rejoin the market. Any suggestions in regards to areas I should focus on would be greatly appreciated.
I will eventually get a house in Sydney again… I’m determined to. :)
Hi Thai,
I’m also a newbie and have the same question. I have been referring to this information – http://www.yourinvestmentpropertymag.com.au/top-suburbs. Is this generally considered reliable?
Sue
Thank you @qlds007, @patocaballo, @bangers01 and @lauriek for your help. I really do appreciate it. Bangers, you touched on a concern I had in regards to the over-supply of units in inner city Brisbane. There appears to be new ones popping up all over the place in the next 12 months. I wasn’t aware of Buyer’s Agents. If not too expensive, this could be a good direction for me. Masterland, thank you for your suggestion. I hadn’t considered that part of the greater Newcastle area so I will certainly look into it. Lauriek, the event in Sydney and Melbourne is unfortunately sold out – I would most definitely have gone along. :(
The more I read, the more concerned I am that finding a cash flow positive property isn’t even possible.
Thank you very much Pete and Cattleya for your responses.
Cattleya, you perfectly summed up my situation. To clarify, my budget of $410K consists of my share of the family home (120K) plus what the bank will lend me based on my current income. If I was an owner/occupier, I would have approx $485K to spend and sadly, there is nothing available in Sydney suitable for a big family for that price (hence why I’m renting at present). Land/building are not options since I cannot afford the mortgage payments plus my rent. My hope is to eventually be able to purchase my own home in Sydney, I’m just going to have to do it the long way!
Pete, your suggestion was certainly interesting and something worth considering if I was a bit more experienced and, as you say, had a more stable financial situation. As Cattleya stated, I essentially want a very low risk, no fuss investment with high returns (is that even possible?!).
I’m also concerned in regards to my retirement. Being a stay-at-home Mum, my Super balance is sad to say the least. I know I can’t address all of my issues with the purchase of one property but I certainly want that purchase to set me on the right path.
Thank you again for responding. I really appreciate it.
Sue
