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1. Who mentioned anything about a townhouse?You tell me where you can buy a townhouse for $130,000 closer to the city or beachside?
Then why are you on here arguing with someone who has?2. If you want to change the question to a more mathematical, analytical point of view - then why not buy in Western Sydney. I for one have not researched this area, but I have seen the numbers. They add up!
my point is: why buy West when the percentages say buy Inner (or beachside etc)?
Looking for? The name of the game is real estate investment and everyone is looking for a profit.I disagree on the poor choice comment
I'd say it depends on what people are looking for.
Bigger pool of tennants? News to me. Last time I checked vacancy rates were at all time lows across Sydney.If I had the choice to buy 1 property in Bondi or 4 in well located suburbs out west I'd go for the later because my holding costs will be lower and because I would have a bigger pool, of tenants.
Ever heard the saying "the richer get richer"? Well historically over long term, land that is closer to the city or beachside gets better growth than outer suburbs.I buy cheaper properties because I am not convinced that the price difference between expensive suburbs and cheaper suburbs is sustainable over the long term.
Show me a time where over the long term an established outer suburb got more growth than an inner one?Trends can and will change.
At some stage the **** end of nowhere will get good growth. That doesn't mean it is a good investment. There is a thing called opportunity cost.I voted yes because I have no doubt that those suburbs and
the whole of Western Sydney will see good price increases in the future.
Can you mount an argument as to why Sydney's West is better than other regions? (apart from people who absolutely can't afford anywhere else?
So what?Because even those who say this, sooner or later will be buying out west because buying there is already cheaper than renting close to the city.
So what? Does this mean it's a better option that somewhere close to the city?We are talking about 20 or 30Km from city centre it's not exactly 500Km away and not everyone works in the city anyway.
Parramatta, Liverpool and Blacktown are pretty big centres these days and as I said there are business parks out there too.
Cheers
What opportunity?There is a thing called opportunity cost.
Ahh, I get it now. You have the Westie chip on your shoulder.Buck nammit
Just because a suburb or 2 have a bad reputation does not mean that the whole region where over 2 million people live is a 3rd world country.
There are actually some very nice suburbs in western Sydney.
Firstly, I'm quite aware of this. Please remove the chip from your shoulder. haven't said anything that can make you reasonably assume that I'm not aware of this.Starting from simple things that people appreciate like quiet family friendly neighbourhoods, Houses with own garage plus free and plentiful off street parking, Things like lower cost of living, i.e lower council rates, cheaper groceries, cheaper petrol, new sporting facilities, some new schools, new or updated shopping centres, less drug problems, etc etc.
The opportunity cost of buying West is buyng Inner.What opportunity?
Have I missed something?
What are you on about?IMHO you will be waiting long for that opportunity to come
Ahh, the ld talk down to someone trick.In the meantime keep paying that mortgage...
Ahh, I get it now. You have the Westie chip on your shoulder?
Guys,
My question to begin with was to kick of this post to seek some general advise in relation to the suburbs I've identified. My question's were very specific and I think we've actually gone south on the post not west
- I want to buy a house and move out from our unit.
- The family is growing and I need a house.
- With a budget of approx $400K lets get real, I can't get much of a house with closer proximity to the city.
- I have had a look at other suburbs (eg Wiley Park, Lidcombe etc) to see if there's something we can afford - for my kinda money no joy.
- I've been in the country for 12 years and live in Lidcombe/Auburn all the time and don't have much of a problem with the west.
- Maybe I should look at suburbs like SevenHills etc as well...
- The idea of seeking advise was to see if I can hit two birds with one stone:
- Buy a house (possibly 4 Br, 2 Toilets, single or double garage) in a suburb that could potentially boom (or maybe boom is a bad word), grow in value over the next few years.
- Like this I get a house and potentially accumulate some Capital growth.
My question in relation to transport was because I work in the city. But since I work in IT there's no reason that in 5 - 7 years I may get a job in Parra or Blacktown etc - jobs are always available.
Sorry, if I caused some grief among members but I was hoping to get advise on my specific circumstances NOT the general trends in property markets and capital growth.
Thanks guys.
I agree with a couple of points he made also, but I'd like to disagree just to keep him fired up. Funny as **** this thread.I agree with bucky.
Another point, people investing in these suburbs seem to be blinded by the yield.
Let's get this straight...
Higher yield = Higher risk.
You get 9% yields for a reason.
Everyone is focussed on growth potential.
I think dedfred was looking at growth potential as secondary requirement.
Sure some of these areas might have good growth but would you want to raise your kids there.
Personally I would be looking at the area I would feel comfortable tp raise my children (schooling etc).
Some of the schools in the west (not all by any means) leave a lot to be desired. I have worked in some of these schools. There are major differences.
Our first PPOR was in Oakhurst. We really enjoyed our 7 years there. We intended to be out in 5 years (before the kids started school) but that ended up being 7. The primary school (Plumpton) was lovely (despite the 10 foot perimeter fence) but there was no way my kids were going to Plumpton High.
My advice is to look more closely at where and with whom you want your kids to grow up with.