Good day folks,
I’ve been reading the forum a lot & finally decided to take action.
I’m a first time investor. I’m looking to buy a off the plan property towards south of Adelaide. This particular suburb in Adelaide has been selling the highest number of properties for last year.
Just want to know whether anyone could tell me whether there is any chance of prices dropping within the next 12-24months. Because of so many people buying in that area. Most of it is brand new houses, apartments…etc.
This house is expected to be finished in 2011 but I’m paying 2010 prices.
If lot of people are buying houses in that suburb & surrounding suburbs is it a good sign for a property boom?
Any feedback back is highly appreciated.
Hi there,
Which state are you from? If you are from a different state and need eyes and ears down in Adelaide we can help you.
Also what is your strategy? Are you planning to buy now, hold till it finishes and then sell straight away?
With the possibility of prices drops, like Steve Mcknight has said in his market updates, there is a possibility that prices might drop and that investors must be aware of it. Although it is pretty unlikely due to the conditions in our current market but you still have to be aware of it and be prepared. One way of preparing for it is to borrow only 80% so there will be a buffer just in case the price does drop.
Hope that helps. If you are in Adelaide and want to network with investors that can help you get started send me an IM.
Hi,
Yes i'm in adelaide.
My strategy is to buy & hold it for 3-5 years or more. in the mean time the property can be rented out at 300pw.
Hi,
Yes i'm in adelaide.
My strategy is to buy & hold it for 3-5 years or more. in the mean time the property can be rented out at 300pw.
Where is the location of this property?
I may have to talk to a few of you guys in the near future. The house im building now will max me out for land tax in NSW so i will be looking further away. I travel to Adelaide several times a year so thats where im looking next.
Talk soon hopefully.
Cheers
2010investor and devo76 when ever you are ready email me at [email protected] we can help you with your investing in Adelaide. 2010investor if this is your first time investing I do recommend you sitting down with a seasoned investor to help map out your future and give you unbiased tips on your first investment property. If you got questions and need answers then we can help you.
You can email me at [email protected].
Cheers
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