I am a FHB looking to buy around the Macquarie Park/North Ryde area. I am looking for a place initially to stay and maybe to rent out later. I have the following two options to go for. I'd like to hear from other people which option you would go for...
Option 1: Buying off the plan
- Convenient location - 5 minute walk from the train station
- But opposite of the cemetery
- High rise apartment - 3 towers (with 200+ units)
- Expecting a high strata fee
- Agent said to get in early to get cheaper price.
- I'll get the FHOG
- Price is higher than the old units
- Completed in 3 years time and might get a lower valuation later
Option 2: Buy an old unit
- Convenient location
- Low strata fee
- Much cheaper than buying OTP
- Future rent prospect might not be too good due to the abundant new high rise apartments that will become available in the area.
- No FHOG
My question is with the many high rise buildings going up in the Macquarie Park/North Ryde area, is it better if I go for the OTP option?
I am worried if I go for the older units, I might not be able to get a good rental income due to the competitions from the new apartments.
Also, would you buy an apartment complex built next to a cemetery?
Option 1: Buying off the plan
- Convenient location - 5 minute walk from the train station
- But opposite of the cemetery
- High rise apartment - 3 towers (with 200+ units)
- Expecting a high strata fee
- Agent said to get in early to get cheaper price.
- I'll get the FHOG
- Price is higher than the old units
- Completed in 3 years time and might get a lower valuation later
Option 2: Buy an old unit
- Convenient location
- Low strata fee
- Much cheaper than buying OTP
- Future rent prospect might not be too good due to the abundant new high rise apartments that will become available in the area.
- No FHOG
My question is with the many high rise buildings going up in the Macquarie Park/North Ryde area, is it better if I go for the OTP option?
I am worried if I go for the older units, I might not be able to get a good rental income due to the competitions from the new apartments.
Also, would you buy an apartment complex built next to a cemetery?