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Viewing 13 posts - 1 through 13 (of 13 total)
  • Profile photo of echelon6echelon6
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    @echelon6
    Join Date: 2009
    Post Count: 19

    I've got my 20% deposit ready and finance pre-approved. Ready to go. Just don't know where to go hahaha

    My budget is around 600k, I've been looking at areas like Dundas / Dundas Valley / Carlingford and I feel I can afford these areas but perhaps my knowledge is limited and that I should widen my search

    My ideal is to be as close to the city as I can afford, or be close to a train station (with fuel prices ever increasing and peak oil and all that).

    I'm also exclusively looking at free-standing homes, preferrably brick veneer. I don't mind a bit of renovation needed on the inside

    Can you suggest some suburbs for me to look at? Any hidden gems in the north or south?

    Profile photo of Scott No MatesScott No Mates
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    @scott-no-mates
    Join Date: 2005
    Post Count: 3,850

    You could get something in Ermington, Rydalmere, Silverwater as well.

    Further south possibly a fibro in Roselands, Wiley Park & surrounds.

    Also on transport – seven hills, toongabbie etc

    Possibly try Baulkham Hills, old castle hill Etc…….

    Profile photo of James2118James2118
    Member
    @james2118
    Join Date: 2010
    Post Count: 27

    Dundas, Carlingford etc is not the best place to live if you want good transportation, I grew up in Carlingford and it took at least an hour just to get to the city, unless you are close to the M2 bus as the train station there is pretty hopeless.

    Eventually it should be upgraded with the North-West metro so by around 2020 hopefully it would be good, also assume this would increase property value in this area. Whether it ever gets built or not is another question.

    I live in Seven Hills now and the transport is pretty good, train to the city is only about 30 minutes so cannot really complain with that. Parramatta would be better still with regards to transport into the city.

    $600k would probably be able to get you something liveable in the innerwest as well, maybe around Dulwich Hill area, although whether you  could get a free standing brick veneer home is another question. But since you do not mind renovating inner west is not a bad option.

    Heaps of areas in Sydney basically so don't try and lock yourself into one straight away. If you can afford it I would highly recommend North Shore, around Chatswood, St Ives area, it is a very nice area and relatively close to the city and trains, and not far from the beaches either.

    Profile photo of echelon6echelon6
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    @echelon6
    Join Date: 2009
    Post Count: 19

    Can't afford St Ives / Chatswood – maybe in 10 years

    So what's with the North West metro line – what's the current status of it? and who do I vote next election for to get it up? :)

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
    Post Count: 16,190

    You could get 3 houses out in Mt Duritt area for that.

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
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    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Jacqui MiddletonJacqui Middleton
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    @jacm
    Join Date: 2009
    Post Count: 2,539

    Take a look at Tempe.  This one's on for just under $600k and looks to be in very nice shape:
    http://www.realestate.com.au/property-house-nsw-tempe-107511396

    Worth sniffing about to see if you could get a place that needs some work for a bit less….

    Jacqui Middleton | Middleton Buyers Advocates
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    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of echelon6echelon6
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    @echelon6
    Join Date: 2009
    Post Count: 19

    Saw that one but decided I prefer something with 4 walls

    I know my pickiness has priced be away from these more convenient suburbs so I'm relegated to continue looking at ermington / rydalmere / dundas / carlingford etc

    Profile photo of Scott No MatesScott No Mates
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    @scott-no-mates
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    Terryw wrote:
    You could get 3 houses out in Mt Duritt area for that.

    But would you want them?

    Profile photo of TerrywTerryw
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    @terryw
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    Why not?

    High yields with good CG potential. At prices like that they would have to go up. Just get landlords insurances!

    Terryw | Structuring Lawyers / Loan Structuring Pty Ltd
    http://propertytaxbook.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Jacqui MiddletonJacqui Middleton
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    @jacm
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    I agree with Terry. 

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
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    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of Jamie MooreJamie Moore
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    Terryw wrote:
    Why not?

    High yields with good CG potential. At prices like that they would have to go up. Just get landlords insurances!

    I must admit, when I read the "what can I buy in Sydney for $600k" title, my first thought was three IPs out west. Insurance is definitely a must – as is a good property manager.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
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    Profile photo of Ryan McLeanRyan McLean
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    @ryan-mclean
    Join Date: 2010
    Post Count: 547

    The question is not "What can you buy for $600k in Sydney" but "How can I buy a house in Carlingford for $600k". I don't know why you have your heart set on that area.

    Are you going to live in the property or simply rent it out?

    If your goal is to eventually live in the city (but you can't afford it yet) then maybe it might be an idea to rent in the city and to buy investment properties further out with good rental yields.

    Mount Druitt is the extreme, as obviously it is a pretty rough area. I'm not saying it is a bad investment, but you may want to look at investments in western Sydney, or even small towns just out of sydney and build up your portfolio.

    As these properties increase in rent and value you may be able to use the equity to buy your dream home.

    Ryan McLean
    CashFlow Investor
    Read my most popular blog post on 10 Places You Can Find Positive Cash Flow Property For Sale In Australia

    Ryan McLean | On Property
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    Profile photo of NHGNHG
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    @nhg
    Join Date: 2010
    Post Count: 198

    My mate is just putting a deposit down on a solid well presented 4 bedroom house in Carlingford for just north of 600k. The owners were desperate to sell.

    I've also had the option of purchasing a 2700m2 block of land with an old 5bdr 2 story house in Thornleigh for 800k. Unfortunately I couldn't get the funds together quick enough.

    Keep an eye out, there are always bargains.
    I'm in the same situation, I decided to look out west and purchase 2-3 properties, unfortunately nothing as yet. Hopefully in the next couple of months I can secure the first place.

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