Hi all,
Thank you for your piece of wisdom and information.
The Raymond Terrace has experienced 70-80% capital gain for the last two years, whilst Orange has not that sharply.
I can afford to pay higher mortgage via rents and topping up money for the Raymond house, whilst much easier to repay the Orange house.As for rents, Raymond will pay 200/w and Orange 180/w. Comparing loan sizes, Orange seems to produce more…
It is right that I am a little concerned about the socioeconomic standing of Raymond, as I do have a young daughter who might go to school there.
This is the thing really holding me down not to make the commitment yet to the Raymond house.
Due to the small basic nature of the house there compared with the one in Orange, livable and lovable, I dont envisage myself ever living in Raymond.Yep, I also believe in God’ blessing in what we do.
Thanks all.
MayHi May,
To play devil’s advocate – What has been the growth in those two areas over the last 3 years, and what rental income would you expect from those two properties, plus is your strategy cash flow or capital growth? Neither is better if it doesn’t meet you objectives! [}
]My two cents – go coastal.
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MelHello May,
Will Orange property give you positve cash flow ? If so, what’s the yield ? Can you afford to let it vacat for more than 4 weeks a year ? Do you need to visit your property once a year – it will cost about $200 for petrol and overnight Motel. If you add all this up, it problely willn’t give you any positive cash flow.
If you go for the Coastal property borrow $200k, can you afford to pay the mortgage without give yourself extra stress, and for how along ? What about the Size of the Land and the Position of the property, and all other facts drive your captial gain ?
If I were you, I would go for Raymond.
All the best.
Jason
I do my homework and also pray, God is my only trustworthy help.
Raymond Terrace is the administrative capital of Port Stephens. As such is has the council chambers and much of the infrastructure.
There is also a major RAAF base in the vicinity which puts pressure on the availablitity of rental properties.
On the downside it will always be the lowest socio economic area of the region with folks who can afford to, preferring to live at Nelson Bay and surrounding areas. There are also adjacent rural communities such as Medowie to consider.
Raymond Terrace has experienced some strong recent growth in line with the rest of the nation.
Please email me or post here if I can give any answers about this area – I am in Newcastle and have been involved in a development in Raymond Terrace.
Cheers,
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985
Hi all,
I am wondering which of the following investment would be the better for me living in Sydney.Due to my housing unaffordability in Sydney, I recently looked around with my hard earned savings of 40G.
Bank will lend me up to 200G. I liked a 3 bedroom GRAND brick house in Orange(Inland), 5 and 1/2 hrs driving from Sydney, for $160,000. and a 3 bedroom BASIC brick house in Raymond Terrace (near Central coast) for $235,000, 2 hrs driving from Sydney.
I can afford both, but the former’s distance from Sydney concerns me, and but the latter makes me borrow a lot but has yieled good capital gain in the past(Its a house bought for 90,000 two years ago by the current vendor asking 235G)I am a middle aged single mum earning upper 40G. Nothing else to resort to, but to my own health and intelligence to get by the loan called mortgage.
Anyone has wise advice for me?
May
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