Moving back to Sydney

[cathy64]

Hi,

After moving to Launceston a year ago, our tree change hasn't really worked out. I plan to move back to Sydney in about six months after I have finished renovating the house I currently am in. I will have about $400k and I am looking to purchase in a suburb close to The Hills District, which is where I am from originally and where my family live. I have renovated a number of properties and given my lack of funds, realise that I will not necessarily be able to buy back in where I want to. Can anyone recommend an area that is ripe for renovation and a quick turnover, in order to upgrade as soon as possible and then be able to get back into buying IP's.

 

[Jacque]

Hi Cathy

Is $400K your budget or a no. of deposits? The Hills district has moved enormously in the last 18 mths and the price landscape has changed greatly.

 

[cathy64]

I will have $400k as a deposit and should be able to get a mortgage of another $150k. Ideally I would like to have a minimum mortgage so I can get back on track as soon as possible buying IP's.

 

[T.G]

Marayong or Blacktown.

 

[BV]

Hi,

After moving to Launceston a year ago, our tree change hasn't really worked out. I plan to move back to Sydney in about six months.

Hi Cathy

Prices have already moved significantly and there is shortage of houses so properties that need renovation are overpriced and aren't good value for money (IMO)

Keep looking and hopefully you'll find something.
With your budget I'd look at suburbs Like Marayong, Quakers, Schofields

Btw, there is a lot going on in NW Sydney at the moment so look at where the new train stations will go and where the new developments are. Buying off the plan and coming to an arrangement with the builder to do some of the work yourselves could also be an option

http://www.youtube.com/watch?v=tbqjul-a8fg&feature=youtu.be

 

[Gockie]

They may also put in light rail to Parramatta from Castle Hill in addition to the trains... Check out this link:
http://ecotransit-votes.info/?page_id=155

 

[Terry_w]

It must be hard to move back into Sydney once you have sold out because prices have been rising so rapidly in recent years.

 

[cathy64]

Thanks for the suggestions and the links.

 

[Tonibell]

Did you sell up in Sydney before the move ?

Unfortunate period to be out of the Sydney market.

I hope it all works out for you.

 

[gcb160]

Maybe Glendenning, Oakhurst and Hassall Grove. They are less than 20 mins from Castle Hill down the M7 and they are very close to the North West Growth Centre at Marsden Park.

 

[cathy64]

Unfortunately, we did sell out and now will have difficulty getting back. Thanks for all of the suggestions.

 

[Jacque]

Hi Cathy

We buy for a lot of clients in the $450-$600K price bracket in the Quakers Hill/Blacktown/Kings Park etc areas so it's doable at $550K. Just ensure you get in quickly if you see something you like, as they tend to sell quickly. Good luck!