Sydney's options

I think the general stigma surrounding the area may have been a contributing factor early on in his viability assessment. ;)

S
That's what I was thinking too! ;)

I'm from the Northern Beaches originally and there's no way known I'd move to the West. It was Lower North Shore, Upper North Shore or Northern Beaches for me. At a pinch I'd consider North West, but that would be stretching the friendship.

Notice the prevalance of the word North in all those regions... ;)

Cheers,
Michael
 
I think the general stigma surrounding the area may have been a contributing factor early on in his viability assessment. ;)

S

mate I grew up in the west. There are positives and negatives of living out that way. ;)

But I think everyone is making assumptions and jumping to all sorts of conclusions to the OPs intentions. Just because he said the west wasn't viable for him he automatically gets called out and labelled "picky"?
 
mate I grew up in the west. There are positives and negatives of living out that way. ;)

But I think everyone is making assumptions and jumping to all sorts of conclusions to the OPs intentions. Just because he said the west wasn't viable for him he automatically gets called out and labelled "picky"?

I disagree. He said the West wasn't viable and I, along with others, put forth an argument to potentially suggest otherwise. Perhaps the OP could provide some light on why Western Sydney is not viable? In my eyes, it's not viable only if your not willing to make the sacrifices for the necessary 6 months. If the aesthetics are OK, there is renovation potential, and the numbers stack up fine from an investment perspective, why not??? There are good people and bad people in every area of the country.

Also, I think it's important to find out what the OP's investment strategy is?

S

EDIT: I also just wanted to make it clear I don't actually believe in the stigma myself. I know plenty of great people out that way :)
 
mate I grew up in the west. There are positives and negatives of living out that way. ;)

But I think everyone is making assumptions and jumping to all sorts of conclusions to the OPs intentions. Just because he said the west wasn't viable for him he automatically gets called out and labelled "picky"?

Get a grip! I was the person who orginally mentioned this possibility in regards to the actual property, as I said it was just a feeling I got from what was posted. I dont really care if they are like that or not but its something I took into consideration in my response. I may be way off and I am sure the OP will clarify this.

I do stand by what I said, it can be tough to find a decent 1 bedroom with parking property in most of the areas listed for $350k MAX Let alone the 2 Bedroom posibility mentioned. If they pop up be prepared to move quickly in my opinion. Like that Turramurra unit. If it wasnt for the number of new units being built in one hit in this area I dont think you would see that property for sale for that money.
 
Why are you guys arguing?
My03 has already left the stage and is already looking at other more rewarding investments
 
Why are you guys arguing?
My03 has already left the stage and is already looking at other more rewarding investments

I find this type of banter is generally always worthwhile for the OP. Different perspectives, different ideas, different directions moving forward. The OP just needs to have a good think about some of the issues raised and what would work best towards achieving their long term investment goals.

Kind regards,
Steve
 
Having chased the FHOG, i have to say, that was the biggest mistake.

I was annoyed that when i bought my first property i didnt get the $7k or the stamp duty exemption (the FHOG was appeared about 6 months after I bought).

So in 2007, I made my wife (girlfriend at the time) buy a unit solely in her name just so we could get the stamp duty exemption and $7k.

Because I didnt get the FHOG, had I gone on the loan with her and bought something bigger and better (but still under $500k - back in 2007), we still would have got the stamp duty exemption, just not the $7k bonus.

Having sold that unit in 2009 and looking for a house to call my PPR for the last 12 months, the one thing i wish i could do was rewind the clock back to 2007 and buy a house in a similar area for $500k. Looking at RPdata, the houses in the same area i bought the unit were indeed available for $500k back then(needed work, but they were available).

The need to get $7k in 2007 has probably cost me around $200k in equity over a 2-3 period.

Moral of the story, the FHOG is really insignificant in the grand scheme of things.

That said, I've been told of some new developments in "Strathfield" (when i inquired into it more it was more Strathfield South/Enfield). Apparently 1 bedder units going for $350k off the plan. Its on Hume Highway and in my opinion, its a pretty crap area if its going to be a future rental mainly because the train station is so far away.
 
wow! thanks for all the great replies guys, it really puts things into perspective for me.

Sorry i should of been more clear with my original post. The west is not viable as my family is in the north shore and so is my work, but my intensions was to buy a place i could live in longer term (more than 6 months) and buy an investment property down the line.

So lifestyle does have alot to do with the choice, but what i was trying to say was those areas i nominated, suit my situation well, and i wanted to see which you thought was the best area out of those options. i.e- i want to buy my first place, to live, but i also wanted it to be the best possible investment decision in terms of capital growth potential etc.

The palces in turramurra and waitara would be worth looking at actually. Thanks for pointing that out,

what do u guys think of the following?

- 1 bedders with parking in northern suburbs (west ryde, gladesville etc), upper north shore and inner west
- 1 bedders or studios with no parking on the lower north shore.
- the rare older 2 bedders in the northern suburbs

At the moment it seems like they are the only 3 broad types of property i can afford. Would there be any points to consider when in the market for these?

thanks again for the great replies, and i appreciate the alternative options as well becuase im new to this and want as many perspectives as possible.

Cheers
 
Just checked. They are still out there in Dee Why, but not many. Here's one:

Dee Why

And a couple of other options Upper North Shore or Northern Beaches:

Turramurra

Waitara

Seek and ye shall find what you're looking for.

Cheers,
Michael


thanks for pointing those out,hypothetically speaking, would it be better to pick the turramurra option over the waitara option because the waitara property is in a large appartment complex in a area full of these complexes (i,e over supply?)

otherwise ure paying a similar price for something that is alot newer, modern, and nicer possibly large...

both seems to be good proximity to staition.

Thanks
 
here are some things i thought about when looking at both:

  • turramurra is 46sq- might be harder to finance
  • turramurra looks far easier for visitors etc (parking possibilities - maybe space for 1 car outside each garage?), easier for you to probably get in/out of the building/parking etc
  • waitara looks newer/nicer/more secure? how many sq metres?
  • turramurra gets a couple more peak trains than waitara - might find yourself walking to hornsby more for train. but then may be better chance of getting a seat from hornsby/waitara given most start there/earlier in trip.
  • waitara sold for 335 in 01 (new?) then 305 in 07
  • turramurra sold for 270 in 03, and was supposedly up for auction last weekend? if it didnt sell, what price did it finish at i wonder?
 
Correct me if I'm wrong, but if you buy a property under your name, whether for PPoR or IP, then the FHOG doesn't apply anymore?
i.e. you are no longer a 'first-home owner' and so you are not eligible for any assistance from the govt?
 
Correct me if I'm wrong, but if you buy a property under your name, whether for PPoR or IP, then the FHOG doesn't apply anymore?
i.e. you are no longer a 'first-home owner' and so you are not eligible for any assistance from the govt?

The FHOG and stamp duty exemptions are different things. If you bought a property (PPOR or IP) prior to 1 July 2000, you don't get the FHOG. If you bought IPs only after 1 July 2000 but not a PPOR, you're still eligible for the FHOG on a future PPOR purchase.

However, if you've bought property before, whether PPOR or IP, the stamp duty exemption is lost.
 
The FHOG and stamp duty exemptions are different things. If you bought a property (PPOR or IP) prior to 1 July 2000, you don't get the FHOG. If you bought IPs only after 1 July 2000 but not a PPOR, you're still eligible for the FHOG on a future PPOR purchase.

However, if you've bought property before, whether PPOR or IP, the stamp duty exemption is lost.

Oh okay. However I do remember reading somewhere that if there has been a property in your name, regardless of PPoR or IP, then you're not eligible for anything any more, not even FHOG.
 
in my order of preference

older style 2 bedders (structurally sound)
1 bedder with parking
1 bedder without parking

when in doubt I always choose the one with parking
 
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