Which is better option

[sandeepji]

HI All,

We are looking to buy our first investment property in Sydney. Our budget is around 360 to 380K. We are considering buying an unit in Kogarah or Westmead or Northmead or West Ryde. (why these areas is I think they are near neutral cashflow and possibly fit in our budget. Please feel free to suggest other areas in Sydney). Confusion is where should we buy for better 3 to 5 years growth! Can expert help us please.

Many Thanks

Sam

 

[Propertunity]

We are looking to buy our first investment property in Sydney. Our budget is around 360 to 380K.

Good luck - you are smack bang in the middle of FHB territory with that budget. You can certainly get something - but there's some fierce competition I just got in from an Open for Inspection where the price is in the low $300K's - 6 lots of buyers through in the first 15 minutes - and we are talking a wet Monday night at 6pm.

We are considering buying an unit in Kogarah or Westmead or Northmead or West Ryde. (why these areas is I think they are near neutral cashflow and possibly fit in our budget.

These areas should be fine.

Confusion is where should we buy for better 3 to 5 years growth!

Hahaha, you are over analysing. Just buy one to start with and then another.....and another.....keep repeating as you can afford.

Can expert help us please.

You'll get any amount of expert opinions on a property forum like this But no-one can predict the future capital growth of any area. Just remember the definition af an expert (Xspurt):
X is the unknown factor and spurt is just a drip under pressure

 

[Mindmaster]

You'll get any amount of expert opinions on a property forum like this But no-one can predict the future capital growth of any area. Just remember the definition af an expert (Xspurt):
X is the unknown factor and spurt is just a drip under pressure

Reminds me of the classic line that you make your money when you buy real estate not when you sell it. In that respect you don't need to predict future capital growth, just buy well.

Want constitutes buy well??? I'm still working that out

 

[Cherry Pro]

Hi

We are considering buying an unit in Kogarah or Westmead or Northmead or West Ryde.

If I was buying and could enter either of these locations for about the same price, West Ryde would be my first choice.

Good luck and am sure you are considering rental demand and returns in the area before you jump in.

 

[RedPanda]

Hi Sandeep,

I would go with Westmead, West Ryde, Kogarah or Northmead in that order in normal circumstances. But given FHOB, I would expect it difficult to pick bargains in Westmead particularly. Not the best time to look for an IP in FHB zone. But look hard and act smart you may still grab a good deal. But don't rush in at the outset. Study and research as much as you can for some time and then when you find a bargain rush at it. You would find lots of info on this forum.

Cheers,
Roopam