Newcastle
- Thread starter recruit2
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Cooks Hillerising
Were actually in the process of sussing a place to buy as FHB in Newcaslte and have been looking at townhouses/units around cooks hill. Whilst we bounce between houses in mayfield/islinging/tighes hill and units/townhouses in cooks hill, bar beach, city, etc right now we think we've honed in on a 2 bedroom townhouse in Cooks hill, part of a block of ~6 houses or so, each unit has a bit of a yard and garage to boot.
At the moment we have an offer in and the vendor has moved his price down to 345 from 350)after we put an optimistic offer in at $330k. Were not dead set on the property but think it could be right to live in for a few years, have a baby in, that sort of thing. Right now were thinking of trying to push them down to $340 and in light of recent sales this wouldnt be out of the question but it is a little on the cheaper side. Wondering what kind of counter if any to offer.
Also, in terms of an investment property, yes, it probably would be better in mayfied et al but the lifestyle afforded in cooks hill (toss, toss, i know,its not like your far from anything anywhere in newcastle anyways) is appealing to us. Really, how much worse off would we be buying this type of property here, particulary as were thinking of leaving it and making it a rental after a few years. Thinking rental prices in the area might be a little more lucrative than elsewhere, that said international students close to the uni might be a little more exploitable.
Phew, big first post but at a bit of a turning point in terms of where we are taking things so thought it worth putting down.
Cheerio.
Were actually in the process of sussing a place to buy as FHB in Newcaslte and have been looking at townhouses/units around cooks hill. Whilst we bounce between houses in mayfield/islinging/tighes hill and units/townhouses in cooks hill, bar beach, city, etc right now we think we've honed in on a 2 bedroom townhouse in Cooks hill, part of a block of ~6 houses or so, each unit has a bit of a yard and garage to boot.
At the moment we have an offer in and the vendor has moved his price down to 345 from 350)after we put an optimistic offer in at $330k. Were not dead set on the property but think it could be right to live in for a few years, have a baby in, that sort of thing. Right now were thinking of trying to push them down to $340 and in light of recent sales this wouldnt be out of the question but it is a little on the cheaper side. Wondering what kind of counter if any to offer.
Also, in terms of an investment property, yes, it probably would be better in mayfied et al but the lifestyle afforded in cooks hill (toss, toss, i know,its not like your far from anything anywhere in newcastle anyways) is appealing to us. Really, how much worse off would we be buying this type of property here, particulary as were thinking of leaving it and making it a rental after a few years. Thinking rental prices in the area might be a little more lucrative than elsewhere, that said international students close to the uni might be a little more exploitable.
Phew, big first post but at a bit of a turning point in terms of where we are taking things so thought it worth putting down.
Cheerio.
Good to read your thoughts Macka and I agree with your reasons for buying there. Sometimes you have to compromise between the ideal investment and a pretty good one that you actually enjoy living in. And if course, if you enjoy living in it, that means that other people will in the future (tenants) and yes the better area would attract more rent anyway. Cooks Hill is a great/trendy area. For the sake of your happiness and having a life, it would still make a damn good investment anyway and only be some theoretical fraction worse off than the higher growth areas. Especially if you're having a baby, then your sanity is important. I will be in a similar situation in about a year from now and often have the same to-and-fro thoughts.
Unless you are a fan of home births, I'd be doing that last thing in the hospital
I don't know which street you are looking in (and don't post it on here!) but I am looking at a 2brm terrace in Cooks Hill that will probably go in the early $400K's - so yours sounds cheap to me. For the sake of $5K while you dilly dally, someone else could buy it from under you. If you like it and the comparable sales support it, then just buy it, would be my advice.
Remember the one we are looking on is in a complex of 6 so shared land presumably makes a big difference. Noticed a few townhouses in cooks hill for about the price your mentioning, probably overall a little more pricey, even the crappy ones.
We'll mull over it this morning and get back to them this afternoon.
We'll mull over it this morning and get back to them this afternoon.
