First PPOR in Sydney

G'Day All,

Thanks for contributing to this site which is by far the best resource I've found so far for someone looking to enter the Sydney property market. I've been reading somersoft for about a week, and think I'm now ready to join the fray.

I'm late 30s and still renting in Lane Cove North. Great area, but no way I'm borrowing that much to get a place. I recently had a second son, so we're a bit cramped in our rental which is pushing me towards buying a PPOR early next year.

If there are any worthwhile listing sites that I'm missing please share them with me.... I've so far been searching on:
  • onthehouse.com.au
  • realestate.com.au
  • domain.com.au
  • housesales.com.au
and have found them all pretty ordinary.

I guess the biggest frustration with the search so far is that so many properties don't have a price. Others have a price guide that turns out 300k below what the Auction fetches. It all wastes a lot of time!

I'm a very analytical person; if anyone can point me towards raw data for Sydney property that would be hugely appreciated. I'll be reading _a lot_ in the next few months, and sharing what I find as I get on board and take this all in.

The target PPOR, at this stage, is a 3 bdr house or duplex, ideally with NBN access. It needs to be such that we can live in it from purchase, and renovate to add value. I'd look to sell it and upgrade around 2020. As we both work in Wynyard, a sub-hour commute would be ideal (is there a better way to work out commute time than 131500.com.au ?)

With friends scattered over the north shore, northern beaches and inner west, I'm currently looking in a heap of suburbs (below for reference), Cromer has my eye at the moment.

So to conclude, I'm here to learn. Any help the wise folks of somersoft can give me will be greatly appreciated so please send me links so I can research and in time contribute to the great community you've got going here.

chatswood, nsw 2067; chatswood west, nsw 2067; lane cove north, nsw 2066; willoughby north, nsw 2068; macquarie park, nsw 2113; marsfield, nsw 2122; north ryde, nsw 2113; West Ryde, NSW 2114; denistone west, nsw 2114; Eastwood, NSW 2122;

Manly Vale, NSW 2093; Allambie Heights, NSW 2100; Allambie, NSW 2100; Dee Why, NSW 2099; Narraweena, NSW 2099; Beacon Hill, NSW 2100; Frenchs Forest, NSW 2086; Forestville, NSW 2087; Killarney Heights, NSW 2087; Wheeler Heights, NSW 2097; Collaroy Plateau, NSW 2097; Elanora Heights, NSW 2101;

epping, nsw 2121; Pennant Hills, NSW 2120; West Pennant Hills, NSW 2125; Westleigh, NSW 2120; Cherrybrook, NSW 2126;

roseville, nsw 2069; willoughby, nsw 2068; lindfield, nsw 2070; killara, nsw 2071; pymble, nsw 2073; turramurra, nsw 2074; warrawee, nsw 2074; wahroonga, nsw 2076; waitara, nsw 2077; naremburn, nsw 2065;
 
Welcome ozMoses. I may have missed, but what's your budget?
Thanks MsAli, and well that is a great question, or a notable omission depending on your lens.

Budget isn't settled at the moment - just hypothetical hundreds of thousands of dollars the bank will give me ;) and then I have to pay back :(

We'll be doing a budget over the next week or two and that'll tell us how much to borrow. The vibe is I want capacity to renovate, and to take holidays in times of favourable interest rates... my gut says the top end is around 800k.
 
Thanks MsAli, and well that is a great question, or a notable omission depending on your lens.

Budget isn't settled at the moment - just hypothetical hundreds of thousands of dollars the bank will give me ;) and then I have to pay back :(

We'll be doing a budget over the next week or two and that'll tell us how much to borrow. The vibe is I want capacity to renovate, and to take holidays in times of favourable interest rates... my gut says the top end is around 800k.

This is Sydney. Get your budget sorted FIRST. Then start with one area (say, lower north shore) and work out what you can get for the money you have.

Rinse and repeat for other areas until you're happy with what you can get.

Generally, the further from the CBD the less money is required.
 
Your budget will dictate where you go. If you are looking as far north as Wahroonga - it would make sense to include Hornsby in the mix considering it has a major training station with express services to the city.

Determine your budget, pick 3 areas and research the hell out of those areas and then narrow it down from there. Visit the areas and see if you like the transportation, demographic, amenities, etc.
 
My apologies for being so vague to start with, picking three locations and researching the hell out of them is solid advice.

At the moment I've seen suitable places in Cromer and West Pennant Hills. Is there a way to get sale history or do you have to buy that stuff?
 
You could get price finder access. Talk to mattnz on the forum. Else PM me what sort of history you are after and your email address. I could run a few reports for you.
 
Nah you can get those reports for free. Most people on the forum including brokers can run them for you. Some brokers have it in their signature.

Cromer is a sweet spot but seriously bullocks travelling to the city.
 
The travel from Cromer should be bearable, I ride a motorbike so can use the bus lane... or if that doesn't work I can get the bus and do two hours of work a day while sitting on it.

Thanks MsAli, I'll send a PM.

I'm loving this site already, most informative time I've spent on property in the last six months. And I do love a good forum; I run greenandgoldrugby.com in my spare time.
 
Another one I just thought of is orientation/aspect, important for living areas.
Also privacy from neighbors/street.
Low maintenance? Unless you like high maintenance.
Access, not just people traffic but equipment, sometimes overlooked.
 
If you are looking as far north as Wahroonga - it would make sense to include Hornsby in the mix considering it has a major training station with express services to the city.

That is what I was thinking too. Hornsby is noticeably missing in your list of suburbs.
 
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For a house at ~$800k, this batch of suburbs seems to be the way to go...

epping, nsw 2121; Pennant Hills, NSW 2120; West Pennant Hills, NSW 2125; Westleigh, NSW 2120; Cherrybrook, NSW 2126;

Some of the others you mentioned are well in the $1M+ range. Even then, West Pennant Hills may be out of the picture and Epping would be tight.

Hornsby would be over $800K wouldn't it?
 
How about the rockdale/banksia/bexley area? I know its not north shore.

Otherwise Hornsby.
I went through my facebook contacts and plotted them all on a map, everyone is northside. With mum in Avalon and two young boys, Cromer is shaping as an early favourite.

With thanks to MsAli for the PriceFinder report, a place such as "52 MACQUARIE ST, CROMER" would be ideal. This sold for 780k, is renovated, backs onto bush and has a pool.
http://www.century21.com.au/property/173520/
 
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