Recommendation NSW under 400k
- Thread starter cceasy
- Start date
Hi Cceasy
I take it you are looking in Sydney / or NSW?
You might want to try 2770 post code - you may be able to find something in the Mt Druitt surrounds. As you would be aware a lot of growth has happened over the last two years.
May be check out South West? There was a thread on it.
I can't think of anywhere else in Sydney.
A granny flat is likely to put you in negative equity - at least in the short term.
Putting a granny flat may only be able to make the property netural - and not be great cash flow like a few years ago.
I don't think it is worthwhile just putting on a granny flat for the sake of it. Consider buying a block with some sort of an upside instead? e.g. corner block? A site with a big frontage? whilst subject to council rules, the land may have development potential down the track. This way you aren't buying anything dud.
Lastly, but most importantly consider your goals.
Good luck!
Why does it need to be NSW ?
ta
rolf
ta
rolf
Im a tad biased, but it might be worth considering Southern Illawarra and northern shoalhaven in my opinion. If 400k is house alone then southern gong, If the 400k includes the cost of the GF then nowra area. Sydney ripple capital growth short term and population growth/boomer retirement growth long term.
Good points ML.
GFs are great for cashflow but require the equity. If you want to buy multiple properties and have limited deposit funds then short term you might be better to wait and do the GF later when you have more equity but less CF.
Goals are also very important. Keep considering them.
I found today recommendation from Terry Ryder ...... prices between 250- 350K
http://www.news.com.au/finance/real...est-in-this-year/story-fncq3era-1227193227866
http://www.news.com.au/finance/real...est-in-this-year/story-fncq3era-1227193227866
Dubbo is actually one of the least awful picks on that list imho
We are in the market to get IP#4 and, we have one unit interstate in Adelaide, bought new. There is a slight comfort level when investing in the same state, that if there are any issues, you can look at it yourself.
Looking at it does not increase its CG or, make it look prettier.
There are little things that we manage to fix up ourselves for our older unit in NSW, paint job and a few carpentry work.
Is it worth our time? Yes and no. It depends. Do not think there is a black and white answer to this one.
whats everyones thoughts on Goulburn? You can pick up bargains under 350K and the CG stats speak for themselves... Yield isnt to bad either at around 5.6%.. im just starting my DD on the area but doesnt look bad so far... As for Dubbo well we bought there around 2 years ago and have seen good capital in the vacinity of over 12%PA so its performed well to date... fingers crossed it keeps moving in the right direction
I just noticed Goulburn mentioned in a 'hotspot' type thing in a new RE magazine, is that a coincidence? What do you mean by 'bargains under 350k'? You could still get a house in Canberra for around that, better job prospects.
Maybe you searched for Canberra City (suburb).
http://www.realestate.com.au/property-house-act-holt-118985271
http://www.realestate.com.au/property-house-act-bonner-119246211
http://www.realestate.com.au/property-house-act-dunlop-119044007
http://www.realestate.com.au/property-house-act-charnwood-119008059
Some people do commute. If I had to pick between a house for the same price in Goulburn or Canberra, it would be a pretty easy choice.
Check out tenancy laws and land tax in ACT .
Cliff
Cliff
If this is a problem but you want that market you could consider Queanbeyan
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