IP in Granville

[catlib01]

Hi everyone,

This is my first time posting a thread in this forum. I saw a couple of ads in the paper about property listings in Granville, and would like to know if anyone has IP properties there. Is it a place worth checking out?

Thanks!

Cat

 

[travelbug]

What did it say?
Are you looking for flats or houses? Buy and hold or renovate and sell?
It really depends what you want.
There are posters here that like Granville. Type Granville into the search and you will find a bit there.
Good luck.

 

[catlib01]

Hi travelbug,

Thanks for your advice. I have typed in 'Granville' in the search and I didn't find the old posts in this forum.

I am looking for houses in the Granville area in NSW. One of he ads I saw in the paper was for 3 bedroom houses with 1 bath and 1 garage at an asking price of $395k. Another house has only 2 bed, 1 bath and 1 garage but with land size of 626 sq.m. at an asking price of $410k. There might be a possibility of doing an extension to this property to turn it to a 3 bedroom house.

There are also new off the plan 2 bed, 2 bath units in Granville selling from $365k. Is it worth pursuing off the plan purchase now?

Thanks

 

[twobobsworth]

http://www.somersoft.com/forums/showthread.php?t=49796&highlight=granville

and from a few years ago

http://www.somersoft.com/forums/showthread.php?t=24741&highlight=granville

This months API mag (page 85) lists it as "the next big thing". Whatever that means.

 

[Propertunity]

Is it worth pursuing off the plan purchase now?

OTP works best in a rising market - which we have clearly been in, in Sydney for the last 6 months. There are still things to watch out for, but with 50% stamp duty relief till 31 Dec 09 - it looks attractive.

 

[evand]

I think OTP is way too risky in this environment. With uncertain direction of the economy, rising rates and unemployment and crappy yields, its not really putting things in your favor. There are much safer, not to mention, more lucrative investment options available to you at the moment.

Why Granville anyway? Its a pretty dodgy area. What positives do you see there, if any?

 

[catlib01]

Thanks for the comments. I am looking for an IP near the Parramatta area, but houses in Parramatta are way too expensive. Granville seems to be a close enough suburb, but I haven't done my proper research yet. Other areas I am checking out include Northmead, Westmead and Holroyd. Just putting some thoughts together at the moment before pinning down to the suburb.

 

[troyhunt]

Is it worth pursuing off the plan purchase now?

Have a read of this thread. Not much support for off the plan.

 

[mja]

Thanks for the comments. I am looking for an IP near the Parramatta area, but houses in Parramatta are way too expensive.

What's your definition of "too expensive"?

 

[evand]

Holroyd is not a suburb its an LGA (local government area) that encompasses a bunch of suburbs.

Thanks for the comments. I am looking for an IP near the Parramatta area, but houses in Parramatta are way too expensive. Granville seems to be a close enough suburb, but I haven't done my proper research yet. Other areas I am checking out include Northmead, Westmead and Holroyd. Just putting some thoughts together at the moment before pinning down to the suburb.