[Kara47Participant@kara47Join Date: 2012Post Count: 28]

November 25, 2012 - 10:10 am

I lived in Camden about 16 years ago, so have some knowledge of the area. Lots of Housing Commission/ Department of housing in the area, some were whole suburbs at the time, with a reputation for high crime & vandalism. I believe some of these areas were going to be sold to private buyers.

At the time, the following were areas to avoid: Claymore, Minto, Airds, some parts of Ambarvale & Macquarie Fields.

Hopefully someone on here can give you some more up – to – date info. I'd suggest if you are looking at a unit, one close to the railway / shopping centres or bus routes might be in demand. Lots of people commute to the city for work.

The area has rapidly grown in the past 25 years or so, and there are lots of new subdivisions in the areas west of Campbelltown.

Cheers,

Kara

[Kara47Participant@kara47Join Date: 2012Post Count: 28]

November 25, 2012 - 8:50 am

Thanks Shahin,

So I take it if I can save 20% deposit I don't have to wait 2 years?

I believe I now have to pay Stamp Duty unless I purchase a new home ( an extra cost I only found out about recently)

Thanks,

Kara.

[Kara47Participant@kara47Join Date: 2012Post Count: 28]

November 23, 2012 - 9:29 am

Thanks Shahin,

Have been self employed for just over 1 year.

Currently have $18000 locked into First Home Saver's account

I am contemplating not putting any more into account so it is accessible ( your thoughts?)

Currently saving $2500/ month for deposit

Looking to buy a property around $200,000 – $250,000

Location: Mid north Coast NSW

I have just submitted my Tax return, spoke to a broker a while back & he said I needed the ATO assessment & 10% deposit + extra for purchase expenses to apply for finance.

Thank you all for your input – the advice so far has been very informative.

Kara

[Kara47Participant@kara47Join Date: 2012Post Count: 28]

November 22, 2012 - 10:53 am

Thanks Jamie!

[Kara47Participant@kara47Join Date: 2012Post Count: 28]

November 22, 2012 - 10:31 am

Thanks Tom,

So if I understand correctly, the 10% deposit is expected at signing of contracts & the balance at settlement? ( Sorry for such a basic question)

Thanks again,

Kara.

[Kara47Participant@kara47Join Date: 2012Post Count: 28]

November 22, 2012 - 10:27 am

Thanks Shahin for your prompt reply & advice!

I haven't applied for finance at this stage, wanted to see what my options are first.

I would like to have everything in place before I sign anything.

I saw the Real Estate agent this afternoon, one property is sold & the other is about to be, so looks like I've missed out on the best two. There is one left that currently is vacant, I am going to enquire if I could rent until settlement.

What type of criteria would I need to meet?

I am self employed ( just lodged tax return), excellent credit rating & stable income.

Would being self employed be problematic to some lenders? ( I've found in the past you are treated like a leper, but if you are full time permanent & earn very little, then getting a loan is not a problem!)

Thanks again,

Kara.