What should I do with only $100k in Bank..

[Macca]

I only have $100k savings in my bank account, but really want to buy a property that I can move in in a year's time...I am also the first home buyer, but not really interested in buying OTP.

Question is.. what should I do..I want to live close to city (30 mins travel by train is ok for me)

I think I can only afford one bedroom apartment or units...

Oh.. I live in SYD

Advise needed..

Thank you ALL!

I think I might answer the OP

Have you had a look in the western suburbs of Sydney, still some there that will do the job.

Otherwise you can look around the Central Coast or the Blue Mountains, last time I looked there were nice places in Katoomba around the $350k mark but these will go quick now that Badgerys Creek is going to happen.

Don't over analyse, don't buy the first one you look at, just keep attending open houses in areas you can afford and you will find that after a few weeks it starts to make some sense.

Then see a broker, plenty on here, do some sums and away you go

 

[LeoT]

I don't want to wait another 25 years

hi Joeyv,

I don't want to hijack the thread. If you like to chat re this issues just PM mate.

Cheers

Leo

 

[LeoT]

I think I might answer the OP

Have you had a look in the western suburbs of Sydney, still some there that will do the job.

Otherwise you can look around the Central Coast or the Blue Mountains, last time I looked there were nice places in Katoomba around the $350k mark but these will go quick now that Badgerys Creek is going to happen.

Don't over analyse, don't buy the first one you look at, just keep attending open houses in areas you can afford and you will find that after a few weeks it starts to make some sense.

Then see a broker, plenty on here, do some sums and away you go

As I have posted earlier, I strongly suggest the OP see a broker first, understand her/his borrowing position, limitations etc, and then armed with this knowledge, start the property looking.

 

[Zipper]

]

Hi Zipper,

No silver bullet mate, but perhaps you indeed could achieve your goals faster than 25 years time. What makes you think you have to wait 25 years mate?

Cheers

leo

I don't think I have to wait 25 years. I'm just saying that I have that amount of time if I need it. I'm aiming to be done well before that time.

 

[LeoT]

I don't think I have to wait 25 years. I'm just saying that I have that amount of time if I need it. I'm aiming to be done well before that time.

Sounds good mate

Leo

 

[D.T.]

I don't think I have to wait 25 years. I'm just saying that I have that amount of time if I need it. I'm aiming to be done well before that time.

That's easy, just buy some fake houses and put some fake tenants in them like i did

 

[LeoT]

That's easy, just buy some fake houses and put some fake tenants in them like i did

Dave stop trying to buy your fake houses and making a fake tidy profit

oh hang on a minute...do I sense envy from some......

 

[Newbieatlife]

Otherwise you can look around the Central Coast or the Blue Mountains, last time I looked there were nice places in Katoomba around the $350k mark but these will go quick now that Badgerys Creek is going to happen.

Might be a few fire damaged sales in the Blue Mountains coming up

Ask Nathan Birch for advice

 

[Deltaberry]

Throw a dart at a map of South Australia mate

Hmm, where?

 

[Macca]

Might be a few fire damaged sales in the Blue Mountains coming up

Ask Nathan Birch for advice

Yes, they are being stubborn, they love the greenery except when it does what it has been doing for 50,000 years, burn every year.

One day they will accept the fact that mother nature is Much bigger than a few helicopters and good intentions, just burn the damn stuff off every winter like they used to and we will save millions of $$$$$ every year.

In the meantime people are jumping on everything in Katoomba township below $350k so be quick

http://www.realestate.com.au/property-house-nsw-katoomba-117920863