where to buy in Perth - solid deposit, small loan

C

candlebark

I am a female looking to buy a place for myself and my mum. Price ideally between 550k-600k however up to 650k could be considered. 3 Prefer to be close to city with good access to amenities and in a relatively safe area.

Realistically given the budget I may have to sacrifice safety for convenience or the other way around. I am trying to find the balance... for example, I do like living in Vic Park area but how do I find the better streets in the suburb from the really doggy ones?

Some advices on suburbs / streets will be appreciated. I am in my early twenties and very inexperienced / indecisive. Thanks heaps....
 
With that budget you really have quite a bit of choice but it depends on whether you want a house or are happy with a townhouse/villa.

For that budget you could get a villa in South Perth or Kensington which would be a good safe locale

http://www.realestate.com.au/property-house-wa-south+perth-118903935
http://www.realestate.com.au/property-villa-wa-south+perth-118225319
http://www.realestate.com.au/property-townhouse-wa-south+perth-119242371

If you consider villas and townhouses just make sure that you budget in the strata and/or body corporate fees.
 
Westminster, I don't mind a villa or townhouse and Como / South Perth / Kensington are lovely places in live in. I am a little bit concerned about buying a old strata title property as the ongoing fees will get higher. My budget will not get me the type of property I want in those suburbs so what are the other areas that could give me a newish place and still relatively safe? Thank you.
 
Boeman, Maylands is great but not all streets are safe for single females right? Do you know which streets I should avoid? and I often hear people saying " not close to" a particular street or area, how far I should stay away from those? Thank you.
 
candlebark said:
Boeman, Maylands is great but not all streets are safe for single females right? Do you know which streets I should avoid? and I often hear people saying " not close to" a particular street or area, how far I should stay away from those? Thank you.
Click to expand...

The Mt Lawley (west) side of the railway line is the prime section of Maylands

The other side has good pockets but steer clear of the surrounds of the 5 storey plus apartment buildings.
 
candlebark said:
Westminster, I don't mind a villa or townhouse and Como / South Perth / Kensington are lovely places in live in. I am a little bit concerned about buying a old strata title property as the ongoing fees will get higher. My budget will not get me the type of property I want in those suburbs so what are the other areas that could give me a newish place and still relatively safe? Thank you.
Click to expand...

Where do you live now?

A lot of stock close to the city was built in the 80s so is ageing a little now. A triplex would have low strata fees than a complex that has a body corporate.

I lived in Vic Park in my early 20s and had no issues. I was on McMaster St. Anything between there and Canning Hwy and Albany Hwy to the other side is pretty good.

Much of the housing commission around Leonard St near Albany Hwy was recently demolished so less issues there but as your mortgage broker or anyone with price finder or RPData to look up where or if there is any housing commission on the street you are looking at. Whilst there are some model Homeswest tenants, there are also some very bad ones and you don't want to be stuck living next to them.
 
candlebark said:
Some advices on suburbs / streets will be appreciated. I am in my early twenties and very inexperienced / indecisive. Thanks heaps....
Click to expand...

dont let the idealogy of small loan get in the way of a great financial future.

Seems dumb, but depending on your future needs ( perhaps yet unrealised), it may make more sense to borrow as much as you can and stick the left over deposit in a 100 % offset account.

ta
rolf
 
westminster said:
Where do you live now?

QUOTE]

Westminster, I live in Lathain. Feel safe here and still close to cafes and trains. I looked at the properties available for sale around Vic park, not so much in Vic park itself / Lathain. Lots from East Vic Park and Carlisle, both are the more run down part of Vic Park... if I am correct? If I have to choose between east vic park or Carlisle, which one I should focus?

I have also looked at Rivervale and hoping to get into the top end... how about surburbs like Belmont / Kewdale ?
Click to expand...
 
Rolf Latham said:
dont let the idealogy of small loan get in the way of a great financial future.

Seems dumb, but depending on your future needs ( perhaps yet unrealised), it may make more sense to borrow as much as you can and stick the left over deposit in a 100 % offset account.

ta
rolf[/


Noted on " borrow as much as I can"...ideally I would like to build my own place in a more family oriented suburb in the next 3 years and keep the one I am buying as a investment. Cant do that on myself though but having some money in the bank or good equity will be essential.
Click to expand...
 
candlebark said:
Rolf Latham said:
dont let the idealogy of small loan get in the way of a great financial future.

Seems dumb, but depending on your future needs ( perhaps yet unrealised), it may make more sense to borrow as much as you can and stick the left over deposit in a 100 % offset account.

ta
rolf[/


Noted on " borrow as much as I can"...ideally I would like to build my own place in a more family oriented suburb in the next 3 years and keep the one I am buying as a investment. Cant do that on myself though but having some money in the bank or good equity will be essential.
Click to expand...

Hi Candlebark,

If that's what you're hoping to do over the next few years, setting up your loan correctly for this purchase will make all the difference.

Putting all your cash into a property that will become an IP is not a tax effective way to go about it - best to keep your cash accessible for non-deductible debt in the future.

It's possible to structure your loan in such a way that repayments will be the same, but the tax-effectiveness is maintained.
Click to expand...
 
candlebark said:
I am a female looking to buy a place for myself and my mum. Price ideally between 550k-600k however up to 650k could be considered. 3 Prefer to be close to city with good access to amenities and in a relatively safe area.

Realistically given the budget I may have to sacrifice safety for convenience or the other way around. I am trying to find the balance... for example, I do like living in Vic Park area but how do I find the better streets in the suburb from the really doggy ones?

Some advices on suburbs / streets will be appreciated. I am in my early twenties and very inexperienced / indecisive. Thanks heaps....
Click to expand...
personally i would stay away from vic park alltogether, try Kensington, South perth or Como.

good luck!
 
I've been thinking of diving into Perth. I could or probably should wait but I've found from experience that when most observers signal the bottom, the market has already passed that point.

Any recommendations as to where to start - outside Perth, eg Rockingham towards Mandurah or Perth itself?? Is now the time or do you guys project more pain and price falls in coming months?

FYI budget is up to $600K...can either be 2 cheapies or 1 larger prop (houses only). I've narrowed down the search to a bunch of suburbs in that price point but apart from the 'get as close to CBD and the beach' mentality, have nothing else to guid me in terms of where specifically.
 
Last edited:
Highlygeared said:
I've been thinking of diving into Perth. I could or probably should wait but I've found from experience that when most observers signal the bottom, the market has already passed that point.

Any recommendations as to where to start - outside Perth, eg Rockingham towards Mandurah or Perth itself?? Is now the time or do you guys project more pain and price falls in coming months?

FYI budget is up to $600K...can either be 2 cheapies or 1 larger prop (houses only). I've narrowed down the search to a bunch of suburbs in that price point but apart from the 'get as close to CBD and the beach' mentality, have nothing else to guid me in terms of where specifically.
Click to expand...

I assume you're looking for an investment property then - I think an important thing to always go back to use not to stick a blanket over anything and say 'This market has peaked' as this is never the case.
 
Highlygeared said:
Any recommendations as to where to start - outside Perth, eg Rockingham towards Mandurah or Perth itself?? Is now the time or do you guys project more pain and price falls in coming months?

FYI budget is up to $600K...can either be 2 cheapies or 1 larger prop (houses only). I've narrowed down the search to a bunch of suburbs in that price point but apart from the 'get as close to CBD and the beach' mentality, have nothing else to guid me in terms of where specifically.
Click to expand...

I would be more inclined to buy quality in Perth rather than 2 cheapies. Speaking to real estate agents around here (Mandurah) the lower end of the established market is selling to investors, but the tenant pool is lessening due to cheap house and land packages in these affordable areas. They can own for the same or even cheaper than rent.

I imagine it would be similar in many cheaper areas in Perth, unless you can find one with little development happening near by.

Of course it also depends whether you're looking for good cash flow or CG, goals etc - best to get those defined before starting to look for property.
 
Highlygeared said:
I've been thinking of diving into Perth. I could or probably should wait but I've found from experience that when most observers signal the bottom, the market has already passed that point.

Any recommendations as to where to start - outside Perth, eg Rockingham towards Mandurah or Perth itself?? Is now the time or do you guys project more pain and price falls in coming months?

FYI budget is up to $600K...can either be 2 cheapies or 1 larger prop (houses only). I've narrowed down the search to a bunch of suburbs in that price point but apart from the 'get as close to CBD and the beach' mentality, have nothing else to guid me in terms of where specifically.
Click to expand...
feel free to post up any houses you like & i can give you my thoughts on each one in your budget - Ive lived here for 20+ years.

I would normally recommend my suburb Como/South Perth but with that budget you will be very hard pressed to find a stand alone house (my ip is for sale at 660 and its the cheapest/only house for sale in the area at or under that price with some land).

If you go further out I would recommend houses around the good state schools (must be in their catchment zone), willeton high school for example.
 
Thanks, yeah I'm looking for an IP, and if its one house for $600K the the criteria will be:

- a developable block (down the track)
- in meantime, a habitable house with potential to add a granny flat or convert an illegal one, or perhaps even to create an attached granny/dual occ scenario.

It's going to be near impossible to find a house at that price range with an initial cash neutral position.
 
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