We have just accepted a offer on our PPOR and the plan was to purchase another in the suburb we wanted but...
the suburbs we are looking at are very overheated at the moment, we dont want to jump in and buy a property thats over priced and have that little niggle in the back of the head which is saying prices may drop a little in the near future.
we are in perth and looking at samson/kardinya/hamilton hill area. most of the houses we have looked at have some issue or two and all will require a major reno job to get them up to the standard we want(70k -100K)
I dont want to over capitalize as this will be just another stepping stone house(4-5yrs max).
we have a 3 month settlement and am wondering if this will be long enough to see the market settle a bit. our thoughts are to hang on and keep looking to see if anything pops up where we will put in low ball offers to secure the property and if need be rent. But then if the market increases.
Any thoughts on the perth market or this strategy
the suburbs we are looking at are very overheated at the moment, we dont want to jump in and buy a property thats over priced and have that little niggle in the back of the head which is saying prices may drop a little in the near future.
we are in perth and looking at samson/kardinya/hamilton hill area. most of the houses we have looked at have some issue or two and all will require a major reno job to get them up to the standard we want(70k -100K)
I dont want to over capitalize as this will be just another stepping stone house(4-5yrs max).
we have a 3 month settlement and am wondering if this will be long enough to see the market settle a bit. our thoughts are to hang on and keep looking to see if anything pops up where we will put in low ball offers to secure the property and if need be rent. But then if the market increases.
Any thoughts on the perth market or this strategy