*Houses* in Sydney - 500k

[ltk333]

Hi all,
Quick question; As the more and more I've read I can see the value in investing in a torrens title over Strata apartments.

To clarify Sydney, I would say 3km from the city. Meaning inner city suburbs, ie. as far as Redfern, Darlinghurst, Glebe.

I know you can look hard and find terrace housing for sub 600k. I have seen many example in Woolloomooloo and a couple in Chippendale.

The obvious issue is there's no parking - but hey, atleast there's no strata!

Does anyone out there have any examples of such a purchase, and the CG/CF you've had/received?

 

[Propertunity]

The obvious issue is there's no parking - but hey, atleast there's no strata!

I don't know why people worry so much about strata costs.

It covers the cost of building insurance and regular maintenance along with items like roof repairs when needed etc. These are the same expenses that come with owning a house on torrens title, it is just that with strata you are forced to budget and pay quarterly. With a house you tend not to budget that way and when a repair is required you are forced to find a lump of cash in a hurry. So for me strata is no big deal - although I do tend to avoid complexes with lifts, swimming pools and gyms - these do add to the bill - but they would for a house too

As for CG, traditionally houses on land have done better than units. HOWEVER, units have recently outstripped the CG of houses for the first time.

Bottom line - just buy what you are comfortable with and can afford at the time.

 

[ianvestor]

I don't know why people worry so much about strata costs.

I read it differently, in that the original post didn't say anything about strata costs.

There's a whole lot more to 'strata' besides fees.

-Ian

 

[Propertunity]

There's a whole lot more to 'strata' besides fees.

Yes, of course you are right Ian. Especially when there are say 8 units in a block and one owner has 5 of them and is Secretary, Treasurer & Chair of the BC