What are the pros and cons between buying a 2 bedroom apartment in Blacktown, Liverpool or Fairfield; versus buying a studio within 5km of the Sydney CBD? Has anyone else considered this – and if so what was your rationale for your choice?
Thank you
I have both.
Well the city one is a TINY one bedroom. I bought the city one in 2008 so had a great price increase within a year. Strata is higher.
The Blacktown one has seen great growth the past year.
Both to me are set and forget.
With a studio though you may have more difficulty getting 80% finance. If it's 5km from the city check how many there are. What's the rental demand. Make sure it's not one of those Quest apartments or similar serviced apartments. Prices don't move much due to the amount of them. You need to be VERY careful with studios. There are a glut of them. I would e very careful when choosing.
A 2 bed in Blacktown ATM would be my pick but prices have risen lately and the demand is high. Owner occupiers and investors are pushing prices up. You'd be hard pressed getting a good price. Liverpool is similar with demand.
Check out the yields (after paying strata to compare cash flow).
I would suggest you be careful if buying a small studio under 45-50sq m, Harder to get finance means harder to sell which could restrict growth.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
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Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
My vote would be for neither. It's nice to avoid strata fees where possible and instead go with a clear title property elsewhere. Naturally depending on the pricepoint you're shopping in, it may be unavoidable.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Thank you
Why are you choosing these areas and these types of properties? Also whats your budget?
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
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