That property says offers over 775k! For 775k you get a whole wider set of options... but you are looking at a budget of almost an extra 200k... remember stamp duty etc...
Epping unit, Buy now or wait till next year
- Thread starter ericproperty
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That property says offers over 775k! For 775k you get a whole wider set of options... but you are looking at a budget of almost an extra 200k... remember stamp duty etc...
Hi, Jacque
it is always a pleasure to read your post, very informative and sincere, it reminds me my senior tutor in my Uni years.
Yes, it is hard to make up my mind right now.
the St Marys and Blacktown idea is the past, oh, not really, I nearly bought a house in Blacktown last month. but when I looked at numbers, I thought I might need to hold off for a while, I need to buy a place to live in.
I agree with you that the east side of Epping station is the favourable side for most people, for me as well of course. and that where I mainly focus on. First I thought the 10-15 year old unit/apartments are the best option, but they are too dear. Now I think the 30-40 year old complexes might be the way to go. they are low rise, reasonable design and good size.
it is always a pleasure to read your post, very informative and sincere, it reminds me my senior tutor in my Uni years.
Yes, it is hard to make up my mind right now.
the St Marys and Blacktown idea is the past, oh, not really, I nearly bought a house in Blacktown last month. but when I looked at numbers, I thought I might need to hold off for a while, I need to buy a place to live in.
I agree with you that the east side of Epping station is the favourable side for most people, for me as well of course. and that where I mainly focus on. First I thought the 10-15 year old unit/apartments are the best option, but they are too dear. Now I think the 30-40 year old complexes might be the way to go. they are low rise, reasonable design and good size.
Hi, Virgo
thanks for your advice. To $775k, My budget might be stretched far too much, like Gockie said it is a whole different Category. such a big loan and not enough return will give me a lots of sleepless nights.I rememebr 1.5 months ago, there was a house for sale for about $650k in Beecraft. But I really need the convenience of accessing public transport.
thanks for your advice. To $775k, My budget might be stretched far too much, like Gockie said it is a whole different Category. such a big loan and not enough return will give me a lots of sleepless nights.I rememebr 1.5 months ago, there was a house for sale for about $650k in Beecraft. But I really need the convenience of accessing public transport.
thanks exsyd
Eastwood is a very good area, but not as quiet as Epping. For the catchment of Cheltenam Girls High, I got a map from the internet, is it accurate?
Eastwood is a very good area, but not as quiet as Epping. For the catchment of Cheltenam Girls High, I got a map from the internet, is it accurate?
hi jacbmw
Lane Cove is a very good area, closer to CBD than other northern suburb, I would need to do a bit more research on it. a while ago , I read a article on SMH talking about a big development project in Lane Cove. But could not remember abut it anymore.
Lane Cove is a very good area, closer to CBD than other northern suburb, I would need to do a bit more research on it. a while ago , I read a article on SMH talking about a big development project in Lane Cove. But could not remember abut it anymore.
Epping
Hi Eric
All the best, i remember having this dilemma years ago and at that time, the decision was made worse as i have children of both sexes....i was focused on Cheltenham Girls but could not find a boy's school for my son...
I know many parents who bought houses outside the school zone and when it came to Year 5 and 6, move back and rented in the catchment area; there was a parent who actually lives in Kellyville (plus one in Baulkham Hills) who did just that.....
Hi Eric
All the best, i remember having this dilemma years ago and at that time, the decision was made worse as i have children of both sexes....i was focused on Cheltenham Girls but could not find a boy's school for my son...
I know many parents who bought houses outside the school zone and when it came to Year 5 and 6, move back and rented in the catchment area; there was a parent who actually lives in Kellyville (plus one in Baulkham Hills) who did just that.....
Yes, it looks like the one from the school site. As I say, you want to be as close as possible to the school (under current selection procedures) to get priority. They have over double the number of applications as there are places I think (usually there is also a local co-ed school serving the same area that is 'required' to take all students).
It's true Epping is quieter and more 'suburban' if that's your preference. I've lived in both suburbs, but I personally prefer a bit more 'walkability' and convenience
As Jacque says, you've been looking for quite a while and in quite a few different places. I think you are at risk of getting "analysis paralysis".
From my viewpoint, time is money, and if you are spending a lot of time investigating properties and going to open homes etc, I think you would be better off making a decision now, and going with it now rather than putting it off for another 6 months.
It seems like the areas you are looking in are "sound" areas... with both rental demand and capital growth likely in the long term.
If you have enough money to make the purchase, then go for it!
From my viewpoint, time is money, and if you are spending a lot of time investigating properties and going to open homes etc, I think you would be better off making a decision now, and going with it now rather than putting it off for another 6 months.
It seems like the areas you are looking in are "sound" areas... with both rental demand and capital growth likely in the long term.
If you have enough money to make the purchase, then go for it!
Hi Pennyk
thank you for your advice. Sometime I do feel I need a bang on my head to wake me up from hesitation.
this time I have not been looking in Artarmon or Epping for long, actually justed started from last week. Jacque was teasing me (I thought, not offended at all). I did research in Blacktown last year and this year, bought one this year.
as an unwealthy and living on wage ordinary person, I do need to be careful with how I spend/invest the hard earned money, isn't it?
thank you for your advice. Sometime I do feel I need a bang on my head to wake me up from hesitation.
this time I have not been looking in Artarmon or Epping for long, actually justed started from last week. Jacque was teasing me (I thought, not offended at all). I did research in Blacktown last year and this year, bought one this year.
as an unwealthy and living on wage ordinary person, I do need to be careful with how I spend/invest the hard earned money, isn't it?
went to a few open inspections today in Epping, I was quite disappointed, these units/townhouses on the market are the leftovers (I felt), with odd floorplan and still asking for a premium.
this 30-40 year old 2 bedder unit wants over $540k, the owner already rejected a $540k offer:
http://www.realestate.com.au/property-unit-nsw-epping-107831751
it needs a full reno.
and the following one
http://www.realestate.com.au/property-unit-nsw-epping-107605849
wants above $560k, with unusable balcony (fence of the balcony is only about 50cm high), 50m from train line.
I feel it is not value for money area, maybe I need to look harder and longer. Good luck to myself.
this 30-40 year old 2 bedder unit wants over $540k, the owner already rejected a $540k offer:
http://www.realestate.com.au/property-unit-nsw-epping-107831751
it needs a full reno.
and the following one
http://www.realestate.com.au/property-unit-nsw-epping-107605849
wants above $560k, with unusable balcony (fence of the balcony is only about 50cm high), 50m from train line.
I feel it is not value for money area, maybe I need to look harder and longer. Good luck to myself.
Hi Pennyk
thank you for your advice. Sometime I do feel I need a bang on my head to wake me up from hesitation.
this time I have not been looking in Artarmon or Epping for long, actually justed started from last week. Jacque was teasing me (I thought, not offended at all). I did research in Blacktown last year and this year, bought one this year.
as an unwealthy and living on wage ordinary person, I do need to be careful with how I spend/invest the hard earned money, isn't it?
I guess you've been asking about different areas on the forum for a while, which I think is also what Jacque was referring to.
If you arent that wealthy, and you are looking for a value for money IP, then I would suggest moving further afield and spending less money. the areas you've been looking in, artarmon and epping, are both "premium" areas, and you will get less bang for your buck
This might actually be an option if you convert the kitchen/laundry into a bedroom (move the kitchen to the lounge, you have plenty of space). I would then move the laundry into the bathroom (you can put the shower over the bath). Just my opinion... perhaps if you want to pick up a bargain, do it over Christmas/new year, there may be vendors just wanting to sell and knowing that the real estate market doesn't pick up again until late january is a motivation for some to sell...
And, I'd try for a villa or townhouse (if not a house) over the unit, if you have any plans on having a second child. My logic being, you are better off shelling out 650k or so for a villa or townhouse rather than potentially 600k for a 3br unit. More space, some garden. And in which case, keep North Epping on your search list. Every now and then, one of these will come up on the market...
At the prices you are looking at ... I would personally get a freestanding house in Baulkham Hills
Well, it is a good school... I'm an old Pink Elephant!
But as someone mentioned, the catchment does change regularly. When I was there, which was a long time ago now!, people moved into the house next to ours, and they couldnt get in, despite everyone else in the street having been accepted the year before.
Its a good place to have an IP..... We regularly have people wanting to lease our granny flat, which is one of the cheapest properties to rent in the area. They dont even move in.. just use it as their address to get into the school.
But as someone mentioned, the catchment does change regularly. When I was there, which was a long time ago now!, people moved into the house next to ours, and they couldnt get in, despite everyone else in the street having been accepted the year before.
Its a good place to have an IP..... We regularly have people wanting to lease our granny flat, which is one of the cheapest properties to rent in the area. They dont even move in.. just use it as their address to get into the school.
Baulkham Hills High is now the second best public school (ranked by students' performance for uni entry) after James Ruse High in Carlingford.
it is a selective school though (as is James Ruse)... whereas Cheltenham is open to anyone who lives in the area
Hi, Penny,
can I rent you granny flat as well when it is vacant?
Virgo, please let me know when your Granny flat is ready to rent.
can I rent you granny flat as well when it is vacant?
Virgo, please let me know when your Granny flat is ready to rent.
