Where to invest in Sydney?

[robs132]

hey all,

I have around $50K in savings at the moment and looking to get into property market in Sydney. Currently looking at a repossessed house to live in, however if this falls through I'm thinking I could buy an investment property first and continue renting.

Firstly: What are your thoughts on buying an investment property whilst continuing to rent?

Second: If I do go down the investment property path, where should I look to invest in Sydney now, which suburbs?

I've heard good things about Kings Langley, Westmead, Campsie and Blacktown.


Any thoughts about investment strategy or investment location welcome

Thanks,

Rob

 

[Shahin_Afarin]

If you have $50k in deposit then the maximum (not looking at your servicing) purchase budget is $510,000.

So then the question is what do you buy? Unit? Villa? House? Land? and this is very much so dependent on your long term strategy. So if your strategy is land then there is no point looking at say westmead with a budget of $510,000 so I would start off by determining strategy and then from there looking at areas.

 

[devank]

I have around $50K in savings at the moment and looking to get into property market in Sydney....

I've heard good things about Kings Langley, Westmead, Campsie and Blacktown.

What did you hear about Kings Langley?!?
Westmead - As Shahin said, most likely you are priced out.
Campsie - Used to be cheap... but I think you can still try units. From memory they are a bit old though. Cheap to live.
Blacktown - Everyone is in that region. I'm not sure if you can get good value now... but you might be able to find a unit or really really old house.