I think you are on the right track here, suburbs within 5km to the Adelaide CBD will always have high demand by tenants and property owners alike. I tried to buy this one in Hilton (adjacent Mile End, Torrensville) http://house.ksou.cn/p.php?q=Hilton&sta=sa&id=374684
but missed out. I would recommend a house with large land component, even if you are not interested in developing yourself down the track, the land will achieve you the best capital growth outcome in my opinion.
Hi Erica, thanks for sharing your thoughts. I agree with you on this also.
From what I have gathered between your post and Brady's, this is now my refined criteria:
- Properties up to $450k (but the lower the better to avoid paying too much LMI as I only have $85k in my savings account).
- Properties within 5-8kms from the CBD with large land component that has development potential for maximum capital growth gains.
- Does not require renovation and can be tenanted immediately.
Now my next goal is to be able to evaluate a property and knowing which property is a good deal when it comes by!