to ground floor or not to ground floor?

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From: Carly Henderson


Delia,
How confused you are! I wonder how long you have been looking for an investment? Do you really think that home and unit prices are going to be stationary because your saving more to get into house and land??!! Really, Delia If that's what you think Id advise you to do nothing obviously you lack faith in our growing population and the need for houses and units alike. At the end of the day isn't it all relative??, Oh Yes elderly people wont rent on the top floor if they have to walk up stairs, Young people would, they'd probably prefer it, a young family may want ground floor for the extra room absolute, what i'm getting at Delia is that there will be someone for either of these units and as long as they take care of it and pay the rent who cares, and as long as you make money at the end of the day wether it be top floor bottom floor do you really care after all we are here to make money arnt we? Please understand that it is relative, if you pay less for it now chances are you will sell for slightly less however it is still relative to the amount you invest Isnt It?

 

[NigelW]

Reply: 1
From: Nigel W


Carly

I think your answer to Delia is also relevant to my hypothetical. well done.

 

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Reply: 2
From: Terry Avery


Delia,

Don't be put off by Brian's condescending reply. I agree that house prices
will not be static but my prediction is that the bubble in property is ready
to burst in the next 12 months and there will be some great opportunities
then. But do your own research and reach your own conclusions, don't rely
upon me or anyone else as you will get different opinions.

Brian,

Growing population? Sorry, I thought our population was growing at a snails
pace, this is why the government is considering increasing the number of
immigrants. Also if the population is growing why are vacancies in Sydney on
the increase? The demand is being fuelled by people being choosy and all
wanting to live in THE suburb that is fashionable at the moment not by an
increase in population. The other factor increasing demand is migration.
More people are moving to Queensland and Melbourne which are experiencing
positive growth in population numbers. Other states are declining. Net
result is a move from one state to another and not a big increase in
population. In fact I think Australia is below ZPG (zero population growth).

Just my opinion though

 

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Reply: 2.1
From: Delia L


Thanks to all the well meaning people who answer the post.

Yes, if budget isn't an issue, I was really wanted to buy a house (a small fix-upper in inner west suburbs) but found myself chasing a moving price. So, a couple months ago I decided to bite the bullet, forget about houses for the time being and go for decent size units.

My feelings about the market is that it generally is seller's market (at inner west anyway). However, that's where trendy renters want to live and probably holds value better in any market adversity and recover sooner. I would want to have my foot in the door first albeit a unit only and keep saving for bargain shopping hopefully in the next 12-18 months. ( I'm with you , Avery)

thanks again for all the advise and support.

Cheers

Delia