Lower North Shore? There are some older units between Chastwood and North Sydney going for <$400k. More scope to value add than one in a big block.
Alex
Sydney CBD and fringe boom?
- Thread starter KrisK
- Start date
Lower North Shore? There are some older units between Chastwood and North Sydney going for <$400k. More scope to value add than one in a big block.
Alex
Hmm. Not fond of it, then I've gotta travel for 6months to and from the eastern suburbs.. Gotta be city side..
wow!
http://www.realestate.com.au/cgi-bi...eader=&c=42121813&s=nsw&snf=ras&tm=1190975019
Seems im too late, nice place
http://www.realestate.com.au/cgi-bi...eader=&c=42121813&s=nsw&snf=ras&tm=1190975019
Seems im too late, nice place
Krisk,
that looks a nice place...ample room. The words "Close to transport " are relevant...Falcon Street is a very busy street...access to Cahill Expressway from Falcon Street with a lot of traffic in peak hour and the main route for buses from Nth Sydney to CremorneMosman/Spit/Manly etc unless bus routes have changed recently.
Ajax
that looks a nice place...ample room. The words "Close to transport " are relevant...Falcon Street is a very busy street...access to Cahill Expressway from Falcon Street with a lot of traffic in peak hour and the main route for buses from Nth Sydney to CremorneMosman/Spit/Manly etc unless bus routes have changed recently.
Ajax
Agree... I really like the Art deco places (im in a one bedroom one now)
Realestate.com.au and Domain really have terrible search engines for property.... not even a keyword search ! grrr
You can do a keyword in domain....need to click on State, the area, then you can put in a "keywords" - I agree you should be able to do this from the start!
Cheers,
Jen
Ummmm.......thought you didn't want to look at Nth Sydney.........
Nice looking little unit though, perhaps if you change your mind
and look at that area, there may be more like that one.Regards
Marty
Personal opinion only, but if I was choosing between a 1 bed at Pyrmont in a big development and a 2 bed older unit on the Lower North Shore......I think the lower North Shore has more scope for value-add and growth. Remember you're only living in it for 6 months, you're going to rent it out for much longer. 1 bed city units usually mean single yuppies, most likely the younger ones. That's a narrower pool of tenants than for a 2 bedder at North Sydney. And I am very conscious of the costs of owning in a big block over the long term: special levies.
Alex
Alex
Found a nice 2 bedroom today, car space kitchen with servery, split level with balcony up top, separate toilet, bathroom with shower & bath, new carpets, paint is good, needs a reno on the kitchen and new lights/curtains.Double builtins
Faces east, so the two bedrooms and the lounge both get nice sun.
Block has 16 units, brown brick exterior, leafy street off a main road (no noise, 30secs to bus, 5mins walk to CBD)
Only issue is the common areas smell like asian food
what do you guys think? Been on the market fo 4 weeks, seems a bit odd. We thought it was great! easily rentable right now..
strata $500 pq, they want $395 for it. Similar place selling in same block, far worse condition, needs new carpet, kitchen,paint. No natural light, no balcony into the trees, awful view from kitchen they want $411k
http://kriskeen.com.au/Downloads/unit/ (PHOTOS)
Faces east, so the two bedrooms and the lounge both get nice sun.
Block has 16 units, brown brick exterior, leafy street off a main road (no noise, 30secs to bus, 5mins walk to CBD)
Only issue is the common areas smell like asian food
what do you guys think? Been on the market fo 4 weeks, seems a bit odd. We thought it was great! easily rentable right now..
strata $500 pq, they want $395 for it. Similar place selling in same block, far worse condition, needs new carpet, kitchen,paint. No natural light, no balcony into the trees, awful view from kitchen they want $411k
http://kriskeen.com.au/Downloads/unit/ (PHOTOS)
Special levies are usually for big-ticket items like repair/replacement of elevators, pools, bbq areas, gyms, etc. The more of those you have, the more likely you'll get special levies as the facilities age. Normal wear and tear should be covered by the usual sinking fund charges.
Alex
no lifts, all stairs. Basic intercom system..no pools,spa,gym
Hi Kris,
Just playing Devil's Advocate and throwing another scenario into the fold....
Have you considered not living in it for 6 months and sacrificing the FHOG? A quick back of the envelope calculation suggests that at ultra conservative estimates, your worst case scenario would be less than $4K out of pocket by not living in it (I can provide the example calculation if you wish). From purely an investment point of view, you may be sacrificing a lot more than $4K in long (and short) term growth for a 6 month convenience.
Just playing Devil's Advocate and throwing another scenario into the fold....
Have you considered not living in it for 6 months and sacrificing the FHOG? A quick back of the envelope calculation suggests that at ultra conservative estimates, your worst case scenario would be less than $4K out of pocket by not living in it (I can provide the example calculation if you wish). From purely an investment point of view, you may be sacrificing a lot more than $4K in long (and short) term growth for a 6 month convenience.
can you please put the caveat in as well? whilst you can collect the $7k FHOG, you won't be eligible for the stamp duty exemption in NSW which normally comes up to more than the $10k if you have owned any property before.
HI JustB,
Sorry, FHOG a must. Also the stamp duty adds alot more cost..
no comments on the place mentioned here for which I described/posted photos?
Only issue is the common areas smell like asian food
what do you guys think? Been on the market fo 4 weeks, seems a bit odd. We thought it was great! easily rentable right now..
http://kriskeen.com.au/Downloads/unit/ (PHOTOS)
Krisk
not a bad find, I wouldn't worry about the smell
You only need 1 family to be cooking something and the whole block smells
It shows that the units don't vent their range hoods to the outside and this is very common.
I like the exterior and the fact that it has a balcony.
Is the building in good condition?
Is this a top floor unit and what rent would you get for it?
Cheers
Ahhh. Looks to be, im going to go later today and look around...top floor yes, he claims $460 but id say max $400. Friend has lived next door for 4 years, she loved it and wanted to buy the topp floor but couldnt not afford it. She had no issues and said its good if you can get it at the right price
Also see if you can get a copy of the last Strata meeting minutes. See if any kinds of building issues are going ( leaky roof.....whatever ) and also see how much $$ they have in both the day to day strata bank account and more importantly how much is in the Special Reserve Fund.
I know where we are living now has over $40k in it.
Ross
I know where we are living now has over $40k in it.
Ross
