Hi all,
I am a newbie.
I am considering whether to go for Brisbane Market or Sydney market considering 2010 market conditions for a price range of $300-$350k. Pl. see my earlier forum topic. My sincere thanks to your valuable comments to my earlier discussion topic.
My current Strategy is "buy and hold" for 10 years. Renovation potential will be definitely considered.
Now, I am sort of thinking about the following options –
1. Buy a house in Brisbane outer suburbs more than 15 km from CBD.
2. Buy a house within 10 km from Brisbane CBD (Not sure if I can find a good one in my price range)
3. Buy a unit in Kogarah, Rockdale or surrounding suburbs about 15 km
4. Buy a house in Sydney probably remote parts of Sydney in my price range. I really doubt if I can find good one for $300-$350k in 2010 Sydney Market.Which one might be a profitable option considering a conservative or safe risk profile?
In terms of capital growth and holding costs?Any thoughts?
I would be interested to hear about your experience in dealing same or similar situations.
Thanks.
Sincerely,
WCI personally would prefer houses rather than a unit.
Units have low land content. It is difficult to add extensions to a unit and the body corporate can be expensive. You also have to deal with body corporate issues and lose control to a certain extent.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
They both have their merits but one thing that does annoy me about units is body corporate (as Terry mentioned above). The body corporate repayments eat into your profits. However, units are easier to maintain, usually cheaper to buy and from my experience the yields are usually higher than houses.
Houses have land and can be extended – and have no body corporate
I recall in your last post that you were from Brisbane so perhaps investing in Brisbane would be the better option – at least you'll have some knowledge of the local market (which is helpful if your taking a conservative approach).
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
Oops – just re-read your other post. You didn't mention that you lived in Brisbane. How's your local market looking? If it's your first property than it's not a bad idea to suss out your local market first. Once you've gained some experience and no what you're looking for in a property, you'll have more confidence to venture into other states.
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
For all the reasons mentioned above, our preference is a free standing home.
Cheers, Paul
Paul Dobson | Vendor Finance Institute
http://www.vendorfinanceinstitute.com.au
Email Me | Phone MeAn alternative way to finance your home.
Hi all,
Thanks for your valuable comments.
I have started considering Brisbane market.
The market is pretty flat now. But I am hopeful that there is a scope for profits, if you buy well-located and right kind of property, considering the next 10 years time-line.
Regards,
WC
You must be logged in to reply to this topic. If you don't have an account, you can register here.
