Hi everyone,
I came to this forum via InvestEd.com.au and recommendations I received there to read Jan Somers books. Well, have done so and husband and I have decided to buy 1st IP - now the hard part is WHERE???
Long story short, my parents have a townhouse in Terrigal (3br, 2 bath, 2 car) that they want to sell - they bought with a view to retiring there but have decided they like Sydney (and their two new grandchildren!) too much. We are considering buying it - or possibly half of it - from them.
Am yet to do all the figures properly but assuming we could stretch to the full amount - between 450 and 500k - do you think there is still potential for good capital growth in Terrigal?? That is my main concern.
Alternately, would we be better to buy half and also look at an apartment/house in a capital city?
From what I have seen on the net, it is in the most desirable part of Terrigal (Terrigal bowl/basin) and the complex is nice - pool, playground. It is also in a good location within the complex.
Any opinions, suggestions with regards to anything to pay particular attention to, would be much appreciated.
Cheers!
I came to this forum via InvestEd.com.au and recommendations I received there to read Jan Somers books. Well, have done so and husband and I have decided to buy 1st IP - now the hard part is WHERE???
Long story short, my parents have a townhouse in Terrigal (3br, 2 bath, 2 car) that they want to sell - they bought with a view to retiring there but have decided they like Sydney (and their two new grandchildren!) too much. We are considering buying it - or possibly half of it - from them.
Am yet to do all the figures properly but assuming we could stretch to the full amount - between 450 and 500k - do you think there is still potential for good capital growth in Terrigal?? That is my main concern.
Alternately, would we be better to buy half and also look at an apartment/house in a capital city?
From what I have seen on the net, it is in the most desirable part of Terrigal (Terrigal bowl/basin) and the complex is nice - pool, playground. It is also in a good location within the complex.
Any opinions, suggestions with regards to anything to pay particular attention to, would be much appreciated.
Cheers!