Hi Guys!
I've always lurked around on this forum but never made a post. It has actually been 4 years since I've come across this site/forum back when I was in high school. I have just recently graduated from university and am starting to looking into investing in property more actively.
So the facts of the situation are:
I plan to use the FHG (7,000 atm - correct me if i'm wrong) and the stamp duty waiver given for first home owners of new homes. This will be a PPOR which will eventually be converted in the future (~5yrs - so ~2yrs as a PPOR) to an IP. So I'm thinking CG is more important than rental income for the first 5yrs of this investment.
There are more details and I would update accordingly as they become available to me. Questions I have are:
Any comments or advice is welcome and thanks for all the help guys! Sorry for the long post.
I've always lurked around on this forum but never made a post. It has actually been 4 years since I've come across this site/forum back when I was in high school. I have just recently graduated from university and am starting to looking into investing in property more actively.
So the facts of the situation are:
- Location: Hurstville
- 1.5-2 Bedrooms
- 60-70m^2
- Max 5-10mins from Bus, Train station and shops (westfield)
- Off the Plan - due to finish in May 2015
- One Block away from Coles in Hurstville
- 440K with 10% upfront and 10% on completion of construction
I plan to use the FHG (7,000 atm - correct me if i'm wrong) and the stamp duty waiver given for first home owners of new homes. This will be a PPOR which will eventually be converted in the future (~5yrs - so ~2yrs as a PPOR) to an IP. So I'm thinking CG is more important than rental income for the first 5yrs of this investment.
There are more details and I would update accordingly as they become available to me. Questions I have are:
- Is Hurstville a good area to invest atm? Considering the current cycle of the property market and possible oversupply of apartments (currently and in development) according to previous threads and a little research
- Is buying off the plan a good idea? Considering this is a 3 year construction I am concerned about certain issues that might arise. Plus most of the value would be based on the building being new rather than the land value (I assume)
Any comments or advice is welcome and thanks for all the help guys! Sorry for the long post.
