We are looking to buy a house that will initially (for ~2-3 yrs) be our PPOR. After this time the property will become an IP. Hubby is in construction so we are keen to buy a place that we can value add to ourselves via a comestic reno – we would do the renovating whilst living in the property (as we have done with previous PPOR's in NSW).
We have only lived in WA for less than a year and are trying to identify areas that best fit our needs. One crucial point is we have kids in school at Woodvale who only relocated there in the last few terms and so we don't want to move them to another school so soon. We therefore are looking to buy in suburbs that are within a reasonable distance to Woodvale but still attractive from an investment perspective. We would also require a 4 x 2 house to accommodate our family and our budget is capped at $450K.
I noticed the recent report that suggested Craigie was a hot spot for investment but wasn't sure if that means the area has already peaked and thus I had missed the boat. Can anyone help with identifying potential target areas for me to research further that meet the criteria above?
Thanks
AngelaMy first bit of advice would be dont be afraid to offer less than the asking price because I can tell you in perth there are alot of people having trouble selling their homes due to the lack of buyers and the amount of properties for sale. I would say Craigie wouldnt be a bad area for long term investment, I wouldnt say it has peaked, i mean 2 years ago i remember seeing 3×1 houses on decent size blocks in craigie for around 300k now the cheapest listings seem to be around 340k so I wouldnt say that it has had massive growth over the last few yrs. I guess other areas you could look at would be Heathridge, Beldon, Padbury or if you wanted to go further inland you could look at Alexander heights or Marangaroo. You say you wanted to stay relatively close to Woodvale which I think is a good idea anyway because in my opinion any suburbs north of joondalup (the outer northern suburbs) are going to drop in value over the next year or two (fuel prices, way to much for sale, first home buyers being hit hard, morgage stress, developers dropping the prices on blocks) so it would be a good idea to stick to more established suburbs
Good Luck anywayPaul.
I would be sticking close to the train line, as Paul mentioned regarding fuel prices are hurting people. Alot of people moved to Two Rocks/Yanchep commutting in 4WD each day into the city will be looking at getting closer to the city. One suburb Paul didn't mention is Kingsley. Quite a varried suburb in types of properties available. Some cheap areas in Kingley next to some more expensive places with views. Kingsley also got easy access is Hillary's and the coast
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