Where to Buy in Hills Area

Hello Everyone,

I am looking to buy a House in Baulkham Hills/Castle Hills area. My budget is around 600k and max to 700k with 5% deposit. I am planning to make it as an investment property for about 3-4 years and then move in permanently. I need a suggestion on how many bedrooms/land areas are normally available in this price. Which are the best locations in this area in case of Schools and transports (as me and my wife are in profession where chances are more to get a job in city/North Ryde). As i am planning to put this property for rent for 3-4 years what is the rental vacancy rate in this area. As from SQMResearch it is about 3-4% but i need a real advice from insider. I don’t mind to get bit less rent but I can’t afford the empty house without tenants for long time. I have heard about light rails development in Western Suburbs(from castle hills to Bankstown through Parramatta) and read about train line in this area in this forum(as stated by Jacque Parker) Is it possible to get the future development plans for this area from anywhere.

Regards,

Nik
 
I live in Baulkham Hills in a smallish 1970's four bed, two bathroom house (which needs a bit of work done to it) and a recent RE valuation that I had suggested that my house is worth 630-650k. I think round the 600k mark you would be looking at three beds, one bath or on a busy road. I'm on a large block, 930sqm as are all the other houses around me. My property has the potential to put a granny flat out the back. Years ago I used to live in another property at Baulkham Hills near the M2 which was quite noisy so that is something you should be aware of.
 
We sold our PPOR in Baulkham Hills towards the end of last year. We sold for just under $650K with the house on the market for less than a week, for a 4 bedroom, 2 bathroom (plus toilet in laundry) house on around 770m2. All the 6 offers we received were within 10K of each other...and after negotiation, they were all the same....... so we are pretty confident that it was a good market price.
It was in North Baulkham Hills. I think if you can get a house in that area, it is a great area... close to M2, short drive to Castle Towers, Baulko shops and Nth Rocks shops. and because it is so close to Nth Rocks and Castle Hill, you get a bit more of the flow on effect of the higher property values in those areas.
There are quite a few older houses up in the area around Ted Horwood Reserve (which is where we lived), and alot of the people who live there are the original owners, so they are retiring and moving on. I think there are some really good opportunities to get an older style red brick house, which is very functional for the short term, but gives plenty of scope for renovations/ improvements for future.
 
Thanks PennyK and chic for the information about the area.
How about the Rental vacancy Rate as i am planning to Move in after 3-4 years.
Am I able to get tenants easily if I buy it in Hills area.

@Virgo I am not planning to move in pennant hills
 
Hi Nik

Sorry to come to this post late (just saw it today) but thought you might like a couple of links regarding the NorthWest rail link- which is going ahead, according to the NSW state govt:

http://www.dailytelegraph.com.au/ne...thwest-rail-link/story-e6freuy9-1226381504319

http://news.domain.com.au/domain/re...llow-90-houses-businesses-20120405-1wenv.html

http://northwestrail.com.au/

Interestingly, I've also come across two buyers in Cherrybrook in recent weeks who are looking for new digs, as their homes are being acquired for the link. Valuers have already been out and timelines provided.
Though I've been jaded in the past, I do believe this time that it will happen and provide a huge boost for this part of the Hills. After all, there is some amazing real estate here, both old and young, and it's a very pleasant part of Sydney in which to live. Lots of positives.
 
Also consider suburbs like Glenwood and Stanhope Gardens. Nice areas right on the border of the pricier suburbs in the Hills council LGA, but due to beinig in blacktown LGA, substantial price difference.
 
Slightly off topic, I'm a bit disappointed there'll be no train station in West Pennant Hills where I have an IP. It would have made sense to have one in the sburb given critical mass of people in addition to Cherrybrook station.
 
Slightly off topic, I'm a bit disappointed there'll be no train station in West Pennant Hills where I have an IP. It would have made sense to have one in the sburb given critical mass of people in addition to Cherrybrook station.

i think the Cherrybrook station is on Castle Hill Rd, so its on the border of WPH and Cherrybrook. Probably people closer to Pennant Hills Rd are still closer to Beecroft stn.
 
Slightly off topic, I'm a bit disappointed there'll be no train station in West Pennant Hills where I have an IP. It would have made sense to have one in the sburb given critical mass of people in addition to Cherrybrook station.

They want to increase the number of volvos and mercedes at the parking station.
 
Wonder if this would lead to an increase in value of properties around the Hills area?

Hi Nik

Sorry to come to this post late (just saw it today) but thought you might like a couple of links regarding the NorthWest rail link- which is going ahead, according to the NSW state govt:

http://www.dailytelegraph.com.au/ne...thwest-rail-link/story-e6freuy9-1226381504319

http://news.domain.com.au/domain/re...llow-90-houses-businesses-20120405-1wenv.html

http://northwestrail.com.au/

Interestingly, I've also come across two buyers in Cherrybrook in recent weeks who are looking for new digs, as their homes are being acquired for the link. Valuers have already been out and timelines provided.
Though I've been jaded in the past, I do believe this time that it will happen and provide a huge boost for this part of the Hills. After all, there is some amazing real estate here, both old and young, and it's a very pleasant part of Sydney in which to live. Lots of positives.
 
The station at norwest is right next to my office (they have bought and are demolishing the two office buildings next to mine). Should have a nice knock on effect to my office value. Assuming I still own it in 56 years when the railway gets finished :)
 
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