Buying In Blacktown

[james0360]

I am looking to buy my first home in Blacktown/Rootyhill area. Got around 190k in savings. Considering the crazy prices, I am looking to get a townhouse around 430-450k mark. I want to rent it out in next couple of years. What would be a better strategy ? townhouse or house? Your advice is greatly appreciated.

 

[mumbai]

Getting a house in Blacktown in the 430-450k mark is very difficult, if not impossible.
You MIGHT be able to find a townhouse, though I am not too bullish about it.

In regards to strategy, I have seen both townhouses and houses work. You just have take into consideration the outgoings on the townhouses, competition with other similar townhouses in the block, etc

Check Rixter's posts to learn more about fitting townhouses in your investment strategy.

 

[james0360]

thanks. Saw few townhouses around 12-15 years old, 5kms from blacktown station for that price. new townhouses are coming up near the station for 550k +
Not sure which one would be better in terms capital gains for the future.

 

[mumbai]

Each property is different and you will need to see how the 12-15 yr old townhouse is maintenance wise.
How much is the outgoing for new versus old?
How accessible are public transport, shops, parks, schools etc

 

[mumbai]

There is a thread with discussion on townhouses going on. Have a read through this:
http://somersoft.com/forums/showthread.php?t=98016

 

[neK]

​

http://www.domain.com.au/property/sold/house/nsw/seven-hills/?adid=2011271542

Sold for $497k according to Sydney Auction Results 19 July 2014

 

[RetireRich101]

I purchased my PPOR T/H in Blacktown newly built for $420k 10 years ago. The 10-15 yr T/H was $320K

10yrs forward, today my T/H is worth $500K, while the older T/H is $450K.

but the thing is there isn't a lot of difference from the external for both the T/H

whatever depreciation returns you get for an investment on new build, the above example suggest older returns better

 

[Brady]

I purchased my PPOR T/H in Blacktown newly built for $420k 10 years ago. The 10-15 yr T/H was $320K

10yrs forward, today my T/H is worth $500K, while the older T/H is $450K.

but the thing is there isn't a lot of difference from the external for both the T/H

whatever depreciation returns you get for an investment on new build, the above example suggest older returns better

Nice live example, thanks for sharing.

Often people believe that buying new should have a premium, but everything ages. And sometimes the older built properties are better quality.

 

[james0360]

That’s a great example. Australand is building around 800 new homes around the train station, which could also affect the rental market of townhouses bit far from the train station. Also it will increase the prices of the older lots, if the new townhouses are dearer.

 

[mumbai]

check this one out. Not a big land, but freestanding nevertheless.

http://www.starrpartners.com.au/11017773

 

[Finrod]

You could do plumpton or marayong and surrounds. They're around about 5km from Rooty hill /Blacktown and you can still get houses for the figure you've quoted.