Where to buy in or around Sydney for 400k?

[rdeasy]

I am paying mortgage on a property costed 450k and valued 620k in Western Sydney. Initial thought was to be open for inter state properties but concerned with poor local knowledge of the areas where I would invest.
So, currently I am looking to buy an investment property for 400k in or around Sydney.
Hope to get decent rentals and capital growth in the long term.
Which suburbs in would be suitable?

Thanks.

 

[Tonibell]

How long has it taken your current property to increase from $450K to $620K ?

Sounds like you should do the same again - just a bit further out.

A granny flat can fix the yield and the airport will help with the capital growth.

 

[rdeasy]

Around 6 yrs
With 400k which suburbs should I look at ?
I wonder if I can fit in a granny flat as well

 

[datto]

400K for a house..hmmm..the Druitt and maybe Campbelltown might be your only options.

 

[DaveM]

I will sell you a prop in western sydney for $400k

 

[Tonibell]

Around 6 yrs
With 400k which suburbs should I look at ?
I wonder if I can fit in a granny flat as well

Willmott, Blackett, Colyton, Shalvey, Emerton etc should all still be in that price range. Probably need a bit more to get the granny flat as well.

 

[trey]

goodluck maybe im wrong but i wouldnt of thought you would get anywhere in and around sydney for 400k. double that to 800k and you might find somewhere with a granny flat.

 

[RetireRich101]

Properties in Kingswood (near Penrith) may fit your budget..

If you stretch over 400k you may think of properties similar to below with a potential 7% yield.

http://www.realestate.com.au/property-house-nsw-kingswood-117400111
http://www.realestate.com.au/property-house-nsw-kingswood-116316515

Kingswood has a university (another campus in Werrington) and a hospital. 15-20km from badgery's creek. There was an article on the past weekend tipping Kingswood and Granville.

 

[monalisa]

Properties in Kingswood (near Penrith) may fit your budget..

If you stretch over 400k you may think of properties similar to below with a potential 7% yield.

http://www.realestate.com.au/property-house-nsw-kingswood-117400111
http://www.realestate.com.au/property-house-nsw-kingswood-116316515

Its worthwhile considering if you are buying a house + land that the land has potential.

 

[rdeasy]

Hi all,

Thanks for the inputs so far.
What are your thoughts on ?
suburbs - minto, South Penrith, kings wood, emerton, shalvey
- capital growth, rental returns, risk factors
- development factors

 

[monalisa]

Hi all,

Thanks for the inputs so far.
What are your thoughts on ?
suburbs - minto, South Penrith, kings wood, emerton, shalvey
- capital growth, rental returns, risk factors
- development factors

Search on the forum, these suburbs have been discussed before. For Emerton and Shalvey search 2770, and Mount Druitt.

 

[rdeasy]

Search on the forum, these suburbs have been discussed before. For Emerton and Shalvey search 2770, and Mount Druitt.

Thanks for that. I am open for suggestions on other potential suburbs with short term rental yield and prefer long term capital growth ?

Thanks

 

[Badger]

Minto, Raby.

 

[rdeasy]

What are your thoughts on purchasing properties in Gosford area vs penrith area?

 

[knightm]

What are your thoughts on purchasing properties in Gosford area vs penrith area?

North and south of Sydney (central coast to the north and Illawarra to the south) both open up a lot of options sub 400k. Vacancy rates in Wollongong and surrounds are tight, and the Sydney money is flowing down the coast after the last few yrs of growth.