Hi Guys
Just signed up to this great forum and was seeking some advice if possible.
I'm a first home buyer, and have been looking into purchasing an IP in Castle Hill, NSW. I plan to purchase the unit as an owner occupied unit and reside in the apartment for 6 months, so as to receive my first home owners' grant and also take advantage of the 6 year rule after I move out and lease the unit.
I'm looking for some general opinions on what you guys may think of Castle Hill as a medium-term investment (6 years). The apartments themselves are all quite new and impressive for my price range (max. $450k), and some facts I have learnt thus far (you guys may know others) are:
- The already huge shopping centre is going to be expanded over the next 3 years to be one of the biggest in Australia.
- There will be a train line being put in place linking up the hills suburbs to the Strathfield train line (over the next 5-10 years)
- The suburb is very well equipped for transportation and all other facilities
I am however starting to ask myself whether it would be smarter to perhaps purchase something older and smaller in say Artarmon or Lane Cove, which are traditionally "better" areas and may have better potential for capital growth than Castle Hill.
So I guess that is my question in a nutshell: Nice, new and big in Castle Hill,, or old and small in Artarmon/Lane Cove?
Thanks in advance!
Just signed up to this great forum and was seeking some advice if possible.
I'm a first home buyer, and have been looking into purchasing an IP in Castle Hill, NSW. I plan to purchase the unit as an owner occupied unit and reside in the apartment for 6 months, so as to receive my first home owners' grant and also take advantage of the 6 year rule after I move out and lease the unit.
I'm looking for some general opinions on what you guys may think of Castle Hill as a medium-term investment (6 years). The apartments themselves are all quite new and impressive for my price range (max. $450k), and some facts I have learnt thus far (you guys may know others) are:
- The already huge shopping centre is going to be expanded over the next 3 years to be one of the biggest in Australia.
- There will be a train line being put in place linking up the hills suburbs to the Strathfield train line (over the next 5-10 years)
- The suburb is very well equipped for transportation and all other facilities
I am however starting to ask myself whether it would be smarter to perhaps purchase something older and smaller in say Artarmon or Lane Cove, which are traditionally "better" areas and may have better potential for capital growth than Castle Hill.
So I guess that is my question in a nutshell: Nice, new and big in Castle Hill,, or old and small in Artarmon/Lane Cove?
Thanks in advance!