Where to buy 650K in Sydney

One more greedy owner.

2 Carnation Street Greystanes. This property is on the market for 5 weeks now and not in a good location. The internal built up area is about 65 sqm(seriously). He first had on the market for offers over 640K. Changed to 630K. Now at changed to 595k - 635K.

The house is worth 550K 3 bed and 1 bathroom

write2abdul said:
Thank You! Will take a look but TBH the house prices in Sydney are out of control. They are lot of crappy agents and greedy owners.

Last week,I gave an offer in Pendle hill. The agent said mine was a good offer an should be accepted by the owner. This is the first week of inspection and they are 30+ people who came in for inspection.

Monday morning I get a call saying the owner feels if she could get that offer in the first week, she could get much better offer in the second week :eek::eek:

Look at 13 Violet Place Greystanes offers over 800K :confused::confused

The buyers in Sydney are seriously overpaying .........
Click to expand...
 
I think this warning by the RBA governor should help to keep the prices affordable

The dollar did go down after that. I hope the house prices also doesn't rise :p
http://www.smh.com.au/business/prop...ors-to-tread-with-caution-20140703-zsuv6.html

write2abdul said:
One more greedy owner.

2 Carnation Street Greystanes. This property is on the market for 5 weeks now and not in a good location. The internal built up area is about 65 sqm(seriously). He first had on the market for offers over 640K. Changed to 630K. Now at changed to 595k - 635K.

The house is worth 550K 3 bed and 1 bathroom
Click to expand...
 
The owners at carnation paid way too much for it last year hence wanting so much for it now.

Your idea on price is about 9-12 months old. Anything 550k or below needs a lot of work. Carnation was recently renovated in full.

Prices are all over the place in Greystanes. Take each property on its own merit. Some agents overprice by 50k and sometimes get away with it.
 
write2abdul said:
One more greedy owner.

2 Carnation Street Greystanes. This property is on the market for 5 weeks now and not in a good location. The internal built up area is about 65 sqm(seriously). He first had on the market for offers over 640K. Changed to 630K. Now at changed to 595k - 635K.

The house is worth 550K 3 bed and 1 bathroom
Click to expand...

Unfortunately you might think its worth X and others think its worth X + 50k-100k.

You might regret it, you might not. You're giving up after a month. :(
I spent 9-10 of non stop looking - I'm talking about 6 properties per weekend every week - this was before the domain app had the sort by inspection time.

Take the following words as me being an a-hole or an inspiration for you to do better. Your choice.

You suck. You're a whinger, you have no determination, you are no different than those whingers you read about in the newspaper saying properties prices are too high.

So either sit there and sulk or man up and do something about it. Any thing is possible if you have the right motivation. Unfortunately you just want it handed to you on a silver platter.

As for your income, $130k you're on more money than most. So either you BS'ed your way to get there and don't deserve to be there, or you worked hard to get it. If its the latter think about what you did to get there and apply the same mentality to the property search.
 
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So you feel overpaying and desperation is the right way to go in the property market???

Searching for 1 year or 1 month doesn't matter if its the same trend and it was my personal choice to stop hunting as I felt its not worth at the moment but you might have a different opinion. I'm not being desperate and would wait for the right deal rather than overpaying

neK said:
Unfortunately you might think its worth X and others think its worth X + 50k-100k.

You might regret it, you might not. You're giving up after a month. :(
I spent 9-10 of non stop looking - I'm talking about 6 properties per weekend every week - this was before the domain app had the sort by inspection time.

Take the following words as me being an a-hole or an inspiration for you to do better. Your choice.

You suck. You're a whinger, you have no determination, you are no different than those whingers you read about in the newspaper saying properties prices are too high.

So either sit there and sulk or man up and do something about it. Any thing is possible if you have the right motivation. Unfortunately you just want it handed to you on a silver platter.

As for your income, $130k you're on more money than most. So either you BS'ed your way to get there and don't deserve to be there, or you worked hard to get it. If its the latter think about what you did to get there and apply the same mentality to the property search.
Click to expand...
 
Thanks beachgurl! Ya you are right, with the renovation that house is worth about 30K more

beachgurl said:
The owners at carnation paid way too much for it last year hence wanting so much for it now.

Your idea on price is about 9-12 months old. Anything 550k or below needs a lot of work. Carnation was recently renovated in full.

Prices are all over the place in Greystanes. Take each property on its own merit. Some agents overprice by 50k and sometimes get away with it.
Click to expand...
 
write2abdul said:
So you feel overpaying and desperation is the right way to go in the property market???
Click to expand...

No and No .. and no one said that. Dont be desperate, but do not stop looking. What you are saying is its not worth buying in 'this market'. What other members are trying to assess is, if not in 'this market' then which and when?

No one has a crystal ball. But, general consensus (and expert reviews) is that prices are not coming down anytime soon. The interest rates are going be lower. What will drive the market to go down?

We are trying to help rather than making you overpay. Buying or not is your decision. What you think is overpaying at this time could be a bargain for someone. Its going to be your PPOR. People tend to spend lot more on it than IPs.

Keep your search on and as suggested by some members, there are many places with prices within your reach. Dont get put off by an 'older smelly' house. FWIW, all it might need a sugar soap clean or paint and carpet change, which is just couple of thousand dollars.
 
Thanks nek! Yes would appreciate if you could ping me the details :)

neK said:
I know of someone who might be selling a house nearby (approx 1km by google maps) on a quiet street. I do believe that it is within your price range. It is renovated, but the land isnt as big.
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I truely respect the advice given by members on the forum and its helping me as a first home buyer if not I wouldn't in here :)

Sorry I was just expressing my frustration with the property market. Not that I dont care about the advise given here

rajnhets said:
No and No .. and no one said that. Dont be desperate, but do not stop looking. What you are saying is its not worth buying in 'this market'. What other members are trying to assess is, if not in 'this market' then which and when?

No one has a crystal ball. But, general consensus (and expert reviews) is that prices are not coming down anytime soon. The interest rates are going be lower. What will drive the market to go down?

We are trying to help rather than making you overpay. Buying or not is your decision. What you think is overpaying at this time could be a bargain for someone. Its going to be your PPOR. People tend to spend lot more on it than IPs.

Keep your search on and as suggested by some members, there are many places with prices within your reach. Dont get put off by an 'older smelly' house. FWIW, all it might need a sugar soap clean or paint and carpet change, which is just couple of thousand dollars.
Click to expand...
 
write2abdul said:
So you feel overpaying and desperation is the right way to go in the property market???

Searching for 1 year or 1 month doesn't matter if its the same trend and it was my personal choice to stop hunting as I felt its not worth at the moment but you might have a different opinion. I'm not being desperate and would wait for the right deal rather than overpaying
Click to expand...

Unfortunately you've let your anger and frustration get the better of you.

Let me ask you this, if you child comes home after failing a math exam do you tell them to give up because its not worth it?

Do you decide to send them to a different school where other kids aren't as smart, meaning the exams are easier and your child has a better chance at obtaining a pass?

At your work, if you cannot complete a task, do you resign from the company and find another job and hope that something similar doesn't get asked of you?

Sydney has been trending upwards. When my parents bought back in the 80's the house was $40k. Now its $1m. If its not worth it now, when is it worth it?

If a tree falls in the woods and no is around, what sound does it make.

I understand that its not an easy task looking a property with a child. What about the option where you look at the property yourself. If you want something, only you can make it happen.
 
Considered increasing your budget?

At 130k gross income thats $1750 take home per week. If 40% of that was repayment that works out to be the repayments on $728K.

Possibly more if you have a partner who works?
 
I cant understand whats your problem... Do you suggest me to buy your house when its overpriced or wait for the market to slow down?

Why are you worried that the prices may go down because of the media circulating about the high prices?

So you need to spend big bucks(overpay) and send your kid to a rich school for your child to pass an exam??? So you mean to say those kids who cant afford to pay in those rich schools are not smarter than the ones in the rich schools? T

At your work, if you cannot complete a task, do you resign from the company and find another job and hope that something similar doesn't get asked of you?

Did you ever resign your job just for not completing a task? If you spend 9 months on a task and fail, I would resign. If you could figure out that the task wouldn't be completed in the next 9 months, I wouldn't be hanging around with that task, I would accept it and move on to another task.

I'm being cautious here so that something that happened in 2003-2004 doesn't happen again. Do you think its worth to have money in the bank or be desperate and put that in the house where the price falls later.

If a tree falls in the woods and no is around, what sound does it make.
We need to make sure we are not around that tree when it falls :p



neK said:
Unfortunately you've let your anger and frustration get the better of you.


Let me ask you this, if you child comes home after failing a math exam do you tell them to give up because its not worth it?

Do you decide to send them to a different school where other kids aren't as smart, meaning the exams are easier and your child has a better chance at obtaining a pass?

At your work, if you cannot complete a task, do you resign from the company and find another job and hope that something similar doesn't get asked of you?



At your work, if you cannot complete a task, do you resign from the company and find another job and hope that something similar doesn't get asked of you?

Sydney has been trending upwards. When my parents bought back in the 80's the house was $40k. Now its $1m. If its not worth it now, when is it worth it?

If a tree falls in the woods and no is around, what sound does it make.

I understand that its not an easy task looking a property with a child. What about the option where you look at the property yourself. If you want something, only you can make it happen.
Click to expand...
 
write2abdul said:
I cant understand whats your problem... Do you suggest me to buy your house when its overpriced or wait for the market to slow down?

Why are you worried that the prices may go down because of the media circulating about the high prices?

So you need to spend big bucks(overpay) and send your kid to a rich school for your child to pass an exam??? So you mean to say those kids who cant afford to pay in those rich schools are not smarter than the ones in the rich schools? T

At your work, if you cannot complete a task, do you resign from the company and find another job and hope that something similar doesn't get asked of you?

Did you ever resign your job just for not completing a task? If you spend 9 months on a task and fail, I would resign. If you could figure out that the task wouldn't be completed in the next 9 months, I wouldn't be hanging around with that task, I would accept it and move on to another task.

I'm being cautious here so that something that happened in 2003-2004 doesn't happen again. Do you think its worth to have money in the bank or be desperate and put that in the house where the price falls later.

If a tree falls in the woods and no is around, what sound does it make.
We need to make sure we are not around that tree when it falls :p
Click to expand...
Wow, maybe because you're full of anger and frustration which is why you think i'm attacking you.

Rest up, chill out for a bit and read it another day when you have a clear mind :)

For what its worth, i purchased my first IP in 2003.... at what would have been the peak in my opinion. Its now worth double that.

My friend purchased a similar house in the next street 4 months before me, I paid 10% less than he did.

Do i regret the purchase? At times between 2003 and 2008. But late 2008 I was a happy chappy.

Looking back, i don't regret it at all. Sure i could have gone hard into property investing during that period, but i spent time and enjoyed life instead. Its now one of my better performing assets cashflow wise and with the increase in capital growth I was able purchase another property.

I'm not saying property doesn't fall in value, it does. But like anything its only when you sell it. If this is going to be your PPR, i don't see you selling it for quite a long while.
 
If you would have waited for some more time until 2004 you could have purchased at much lesser price and made more profit now :D

Thats whats is confusing me now. Wait and put my deposit in the bank or buy to avoid paying more after 6 - 8 months.

You are right as its my PPOR, I wouldn't be selling in for a while but what I want to make sure is that I get good a house for the money spent and not a crappy old one.

I'm not saying the house prices would fall down by 20% but would like them to stabilize so that buyers could afford to buy quality houses at the right price. At the moment the selling agents are just hiking up the market.


neK said:
Wow, maybe because you're full of anger and frustration which is why you think i'm attacking you.

Rest up, chill out for a bit and read it another day when you have a clear mind :)

For what its worth, i purchased my first IP in 2003.... at what would have been the peak in my opinion. Its now worth double that.

My friend purchased a similar house in the next street 4 months before me, I paid 10% less than he did.

Do i regret the purchase? At times between 2003 and 2008. But late 2008 I was a happy chappy.

Looking back, i don't regret it at all. Sure i could have gone hard into property investing during that period, but i spent time and enjoyed life instead. Its now one of my better performing assets cashflow wise and with the increase in capital growth I was able purchase another property.

I'm not saying property doesn't fall in value, it does. But like anything its only when you sell it. If this is going to be your PPR, i don't see you selling it for quite a long while.
Click to expand...
 
Why wait to 2004? I could have waited until beginning 2008 and been much better off. Then again hindsight is an absolute wonderful thing isn't it.

However if that is what you choose to take away from what I have said, then so be it.

One last point, not everything has a large mark up. Believe or not, there are places out there that are marketed at market price.... maybe some even below.
 
write2Abdul - did you check out 11 Scott Street Toongabbie? I wonder why it hasn't sold still? Must have some issue. Appears it was advertised earlier this year too, and didn't sell.
 
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