Hello people,
It looks like I’ll be going in for my first property investment and had a couple of questions to give me some ideas to think about. I am from Sydney.
At 21, I have a basic understanding of the property market. At this stage, I am pretty much certain that I will be purchasing a defence property to avoid the headaches and hassles of looking after tenant issues, etc (especially since its my first investment).
Anyway, I was thinking of two possible areas to invest in Sydney – North Parramatta or Baulkham hills. Both are town houses.
The North Parramatta property probably has a better location due to being very close to transport, shopping centres, etc. In addition, the property is brand new.
The Baulkham hills property in approx. 2 years old and is also located in a reasonably good area. In terms of looks, this townhouse has a much more stylish design and looks quite appealing compared to the North Parramatta Property.
Both properties are the same price, near the $525,000 mark.
My question is, which property do you think has better potential for capital appreciation within the next 5 years or so? I know that this is open to interpretation but I just wanted to get some thoughts going here so that I can make a better decision. Is anyone familiar with these locations?
In addition, I was wondering what everyone’s thoughts were on whether now is a good time to buy?
If you have any thoughts, please email me at [email protected]. All thoughts/comments are appreciated.
Thanks very much in advance.
Regards,
Ajay
ajay
great to see that someone as young as yourself taking the big step into property. well done. however while your questions are perfectly valid, I dont think you will get the kind of information you need to make a valid decision. as you can see from the various forum subjects, there is varying degrees of opinion as to the state of the market. personally i would have thought that the areas that you have selected are good growth areas. probably better that you look at some of the property reports for your area to gain a better insight into price history. as far as whether its the right time, hell ill probably get lynched saying this but now is as good as anytime to buy. some would say to hold out another few months as the effects of interest rate increases start to bite in. but if you have an opportunity to buy a good property on the basis of the numbers then i say go for it. good luck.
A word of warning…
My mother is looking to buy a two bedroom townhouse in Castle Hill… she has been looking at one in particular, which was formerly owned by Defence… it’s been on the market for 8 months, and the price has dropped from $499k down to $410k in that time. Capital growth might be slim on the ground for a little while.
These comments were originally posted by ‘Ian From Brisbane’ – I have moved them here and deleted the other repeated thread to keep things orderly.
Derek
Hi!
I don’t know Sydney locations well at all, but from what you’ve said, I’d rather choose a better location than a better building, especially if getting tenants is not going to be an issue.
And if you get a good price then it’s always a good time to buy
If they are listed at $525000 then I would start my offers somewhere below 500k.-Ian
If they are listed at $525000 then I would start my offers somewhere below 500k.You must be logged in to reply to this topic. If you don't have an account, you can register here.
