Trying to buy in Sydney

Hi All,

I am back to this forum after 5 years. I have read over my old posts and things have definitely changed. I am now in a position to hopefully by my first PPOR somewhere ideally on the lower north shore, on the mosman penninsula or on the ocean as far north as curl curl.

The residence needs to be at least two bedrooms, three would be nice! Parking is essential. I would like the property to be detached but there appears to be only about 10 such properties that fulfill these requirements. And they are all at the limit of my budget and not really the nicest homes.

My plan is to live in this property for a few years before turning it into a rental/investment property once i am able to buy a house (similar area) to raise a family in.

I would much welcome any advice, ideas, thoughts with regard to buying in the area.

Kind regards,
kris
 
BV: This means that someone else must live in the property for at least 6 months doesn't it?
What advantages do i have making it an investment rather than a PPOR? i do miss out on the FHOG. (14k) would really help with my deposit. I have next to no trouble borrowing from the bank :)
I would like to move in to the actual property by mid March 2010.
 
Kris

Yes there is no real advantage if you are after the FHOG and if you are going to move in it next year.

I only mentioned this because when people are first starting out,
sharing their monthly shortfall with the tax office could be a good way to get ahead.
 
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BV: thanks for this thought.

Propertunity: Yes the market is always moving... it also always seems to be bit out of reach for most people! From my research it appears that I must commit 500-600k at least for the type of place i want to live in, so this is what i'm looking at.
 
it also always seems to be bit out of reach for most people!
Kris. I think you'll find that living in: "the lower north shore, on the mosman penninsula or on the ocean as far north as curl curl" is out of the reach of the vast majority of the population of Australia.....so your assessment is correct.

From my research it appears that I must commit 500-600k at least for the type of place i want to live in, so this is what i'm looking at.
OK - $500K does not buy much in these areas does it?;)
 
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