Central Coast, NSW

[emacmatt]

Hi everyone,

I just came across this forum in my net searching. Am after any advice/help that anyone can offer.

We are looking at buying our first home- to live in, on the Central Coast as it is cheaper than syd. Just dont know where to start. Which areas have good growth? My husband will be commuting but not via public transport so train line isnt essential. We have a child so would like to buy a house that we wont outgrow for 7 or so years.

So far we have looked at a few places at long jetty (beach side), berkeley vale (lake front), ourimbah, bateau bay (beach side). But are very open to suburb suggestions.

We just dont know where is the best place to buy.
Our buying budget is 510.

Any info would be appreciated as we have never done this before and i am having a melt down trying to work out what to do.

Thanks in advance.

 

[Propertunity]

We are looking at buying our first home- to live in, on the Central Coast as it is cheaper than syd.

Congratulations!

Just dont know where to start. Which areas have good growth?

That's readily available data BUT if this is to be a PPOR, then capital growth (CG) is a secondary consideration.

My husband will be commuting but not via public transport so train line isnt essential.

F3 is pretty good these days.

We have a child so would like to buy a house that we wont outgrow for 7 or so years.

Understood.

So far we have looked at a few places at long jetty (beach side), berkeley vale (lake front),

Bear in mind that because the local councils have subscribed to "rising seal level theory", that insurers have now repriced their risk and many owners of waterfront properties have found their insurance premiums (if they accepted the default flood cover) rising up to 5 times (e.g. from $1,200pa to $6-7,000 )

ourimbah,

Close to the train and the F3 but a bit of a hot (no breeze) place in the summer. Also you need to be careful of the wind direction with the Chickadee chicken processing plant if you are considering over that side.

bateau bay (beach side).

Your husband will need to negotiate Wyong Rd before he reches the F3 from here. That's fine or terrible depending on the time of day he's trying to do that.

We just dont know where is the best place to buy.
Our buying budget is 510.

The Central Coast is a big place. You need to define your needs better than just a commuting distance for hubby.
What kind of school do you want for your chils - private or public?
Are you needing a lakeview? or are you beach / surfer types? or horse country?

With your budget, you have lots of choices.

Any info would be appreciated as we have never done this before and i am having a melt down trying to work out what to do.

You just have not defined your criteria to a degree that lets you narrow the search down.

 

[emacmatt]

We still arent really sure what we want. This is all the beginnings. But so far this is our list-
-flat block/decent size backyard
-preferably 1 level or if 2 only bedrooms upstairs
-in a decent public primary school zone or have a catholic primary school nearby
-able to walk to a shop that sells milk

With the berkeley vale house- how do you find out what flood zone it is in? Wyong council have been no help. Real estate said they think its 1:100.

Which areas have had a constant growth in value? We obviously dont want to go backwards.

We really have no idea where to start. Or areas.

Thanks for your help already.

 

[Propertunity]

We still arent really sure what we want. This is all the beginnings. But so far this is our list-
-flat block/decent size backyard
-preferably 1 level or if 2 only bedrooms upstairs
-in a decent public primary school zone or have a catholic primary school nearby
-able to walk to a shop that sells milk

At least that is a start. Find all the Catholic schools and look from there for flat blocks and shops that sell milk

With the berkeley vale house- how do you find out what flood zone it is in? Wyong council have been no help. Real estate said they think its 1:100.

Get a copy of the contract of sale from the agent (they must have it on file before they can offer a house for sale).
Read the 149 certificate contained within. Point 7. will have whether or not it is affected by flooding and to what degree. The council produce the 149 - I don't know why they would not help you - that is their job. Nevertheless, you can work it out without them.

Which areas have had a constant growth in value?

NO, areas ANYWHERE, have "constant" growth. Real estate does not go up in a linear fashion. In any full cycle of 7-12 years, there will be probably only 25% of that time where the price goes up (sometimes in huge leaps of 40%pa or more). The rest of the time the price will be flat or slightly falling / rising. They key is not to buy when the price is still falling, but overall, the last big boom year/s on the Central Coast were 2003/4. Once you narrow your suburb cloice down, you can get statistical CG charts from a few sources.

We obviously dont want to go backwards.

If you plan on holding for min 7 years, you should be fine. The people who lose money in RE, buy high and sell in a few short years. RE is very forgiving, even if you buy high, you can sell high too (if you must) when the next growth spurt happens, if you have time on your side.

 

[knightm]

Which areas have had a constant growth in value? We obviously dont want to go backwards.

Be aware this will be hard to find - anywhere not just central coast. Property tends to by cyclical. Sydney had "constant growth" from 96-03 then stopped for a while. Western Syd and outer areas like central coast have had periods of up to 10 yrs with no growth.
If the suburb you want has factors for future growth these may be more important than the past as indicators.

 

[Tatts]

What about Mardi? Next door to Tuggerah Westfield, Tuggereah train station, <1km from F3 and St Peters Catholic.

Personally for my own PPOR I couldn't live that far from the beach but it depends on your own priorities!

 

[Ideo]

East Gosford has 2 good catholic schools and is generally a nice area. Good local shops and cafes as well. Good access to the f3 and train stations. I work in west Gosford and east Gosford would be my choice.

 

[ChrissyK]

The Central Coast covers a very large area- Gosford City Council in the South & Wyong Council in the North.
You seem to have chosen random suburbs in both of these areas but it really comes down to the lifestyle you are after as well as affordability.
Just as a suggestion - turn off the freeway at the Gosford exit and go for a drive past the football Stadium through East Gosford then to Green Point & Kincumber all the way to Terrigal/Wamberal and back through to Erina. This is where the Erina Fair Shopping Centre is located, then head back to the F3.
This loop will pass through many pockets that are in your budget as well as walking distance to both public & private schools (or a short bus ride) as well as small local shopping centres- to get the milk(the Kincumber shopping centre is going through a huge redevelopment at the moment). Good sporting facilities, close to great beaches & Brisbane Water. Try to get a feel for where you may fit-in. Gosford CBD is a sorry story but there are redevelopment plans, just seems they never get off the ground. Good Luck with your search.