Newcastle Area - Trying to decide Townhouse or House

I am trying to decide what is best to buy a townhouse or House this is my first property and very inexperienced!

ok So I have 70k deposit, I am looking at properties in the Newcastle Area of New Lambton and Wallsend both properties are around the 300k price, The one in New Lambton is a 2 bedroom Freestanding Villa with a medium yard about 10 years old, a carport with a train line directly behind it but has a HUGE high fence around it so seeing the train is not possible, the other is an old house in Wallsend on a 500sq block a 2 bedroom house that needs to be fully renovated it is good structural condition but is in original condition, it has a double colourbond garage and storage. Obviously land is of higher value then a Villa but in very different areas. I am married with 2 boys and lifestyle is quite important (hence the reason to look in where the schools and social life is better) Long term I would like to keep this property to give to our boys and then in 5-7 years buy a nice family home. So this property we would like to keep to rent out in 5-7 years and then in 20 or so years give it to the boys! What is the better investment for this plan?????
 
My opinion - definitely New Lambton. Is it on Kings Rd? We have one there that has grown much quicker than a property at Shortland bought for a similar price, even though the Shortland property has more land and more 'potential.' Don't know if others who know Newcastle think Shortland and Wallsend would be roughly comparable, but what I DO know is New Lambton would be more desirable to most people than both. Kings Rd (if that's where it is) isn't the best area of New Lambton, but it still gives you access to the same schools and infrastructure and capital growth, and we've never found being on the railway line an impidement to 100% rental occupancy. Best of luck, and come back and tell us what you decide!
 
cant imagine how noisy it would be if you lived on kings road backing onto the train line. i would avoid it aswell. theres trains passing there constantly, would have to be around 50 a day. Adamstown gates are the worst aswell!
 
in saying that Kings road is a very central street which is cheaper and the blocks are large. plenty of development opportunity and houses would always be rented.
 
Ok guys, I still havent bought but have another question. I am looking at a house on 580 sq 3 bed garage x1 2 rumpus/ office in poor condition needing renos in kotara south for around 330k plus reno costs vs a townhouse approx 10yrs old 2 bed garage x1 with medium yard sizes in jesmond or elermore vale for 295k with nothing needing dine ready to live in. Like I said before my plan is to eventually buy both types of properties but whuch do you start off with at this stage when starting out!
 
There is a cheap villa down the road from me in Hamilton. Mid $300's I think.

It does back onto busy Donald St. But it is almost inner city and definitely the cheapest in the area.

Think it is on Watson St.
 
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