Hi everyone.
Update after first post
maybe 500k for 2 bed apartment in suburbs
Need Woolies access not driving so far.
//////
First Home Buyer in Sydney, Need Help with Location and Price
Kawaii on 12/11/2021 - 13:08
Last edited 12/11/2021 - 14:34 by 1 other user
Last edited 12/11/2021 - 14:34 by 1 other user
Comments
Wasn't Mt Druitt the meth/centrelink capital of Sydney?
Yup. Still is
Damn Centrelink is paying well.
Or it could just be the meth economy is going gangbusters
@Drakesy: Sydney real estate is so cooked that even Mt Druitt, a postcode I don't even want to drive through, now has houses in the million dollar club.
Have relos in St Marys.
Property valuer just came back at $1m for their 3bdrm + 2 garage.
Bought it for $400k about 15 years ago.
They never thought they'd be millionaires."just save more it's not that hard to get a foot in, I made a smart decision when i was your age and it paid off"
Our future generations are screwed.
Maybe our future generations could make smart decisions? Or current generations plan for future generations. I will not leave my child without a house.
Except they're also not the millionaires they thought they'd be. If they want to stay in Sydney similar area / sized home then they'd never be able to sell cos any replacement home they buy has already increased astronomically (plus it would cost them stamp duty and transaction costs).
These crazy price increases are only good for those that own multiple properties or are downsizing / moving interstate. For most others with just their family home, they'd rather property prices not appreciate too much.
*and are good for the banks and government
longer loans > more guaranteed interest
keep the public working for longer > larger working population & more taxable income.So perhaps instead of "I never thought I would be a millionaire" the thought might be more like "I can't believe millionaires turned into what we happen to be"
I think just shows the power of compounding (and to a lesser extent leverage)
$400k to $1m over 15 years is only 6.3% CAGR - not that amazing really.Agreed, but just goes to show people are willing to spend that kind of money in that kind of area…future generations don't have much of a chance in Sydney
If they were millionaires where would they live?
far far far west
like closer to darwin for that price range o.O
Look for townhouses in the far west e.g
st Mary's, mount DruittWalgett, Bourke.FTFY
So technical not IN Sydney…
"Greater Sydney"
https://www.domain.com.au/sale/?ptype=duplex%2cfree-standing…
Zoom around map view to have a look what's available.
Not to be a debbie downer
but
Might need to roll the dice on another city.Or wait for Evergrande/worldwide economy/Australian Interest rates to go tits up
Or maybe I should increase my budget??
Yes.
Or maybe I should increase my budget??
Yeah, x2.
It's not happening at $500-$700k.
A search in Penrith there are Townhouses for that price range.
https://www.realestate.com.au/buy/property-house-townhouse-b…
It has Train and Woolies somewhere in there…
Listed Price =/= Contract Price. Put another 20% on the top end of the price guide and that is probably what it will end up selling for in the current market.
500k and 700k mate u have heaps to chose from
u mean deposit right? you are buying a 2m house in sydney right o.O
dudeeeee - even apartment will be a stretch
Try Bathurst area or roll the dice at 500k for a house/townhouse. LOL.
cabramatta
best pho next door, priceless
Cabra is a high demand area for migrants, hard pressed getting a good value house there.
Its actually one of the highest yield rental areas in Sydney.Yeah Campsie would be easier and much closer to the city. Plenty of indestructible red bricks there close by to inner west.
Good luck with that buddy, if you manage to find some Ferraris for the price of a Hyundai while you're at it post it up as a deal.
What an ugly Ferrari. It looks more like a commodore of that vintage than an Italian car.
No idea why, but when I click the Ferrari link it loads up the Bentley's I was looking at yesterday :(
High yield investments all round
LOL earned your +1
NOT in Sydney.
Sydney, house/townhouse only, and close to train station? At best, you'd get one ONE of those on a $500-700k budget.
OP moved from one of the most affordable capital cities in Australia to the least most affordable and brought with him the same budget.
Tell me about it Hobart is affordable lol
If you think Hobart is not affordable relative to Sydney, you're in for a shock.
Went to Hobart 2-3 years back, stopped by a cafe and chatted to the "locals" sitting on either side of me…who were all from Sydney, haha.
$500k-$700k aiming at House/townhouse, Sydney, possibly bigger land.
When you type a message, forget to press send and you realise its 10 years too late.
Prices are driven quite heavily by the distance from Sydney CBD (or the east coast, in general). How close do you need to be to the city?
There are plenty of places around for that price, reasonably close to a Woolies (as they are everywhere) but out in the sticks (an hour or more from the city, possibly needing tolled routes too).
EDIT: For example, Campbelltown has new-ish apartments hovering around $450-550k for 2bd. 15 minutes walk to the shops and just a few minutes from Campbelltown station, but the train takes over an hour to get to Sydney CBD (>1.5hr by car). That's because it's over 50km away from the city - still the suburbs, but you're on the outskirts of Sydney.
guess with people wfh over 50 percent of the time that's ok.
Yes, if it does bed in as a permanent change for most people, the urban sprawl will probably accelerate.
Do car parks for 500k come with 2 bedrooms?
Yeah man even single lock up garage. You won’t get an en-suite bathroom though.
The Blue Mountains?
Maybe Cabramatta or Liverpool. You could get a 2bdr unit centrally located in and older style block and still have budget for renos like new carpet or updating the kitchen bathroom. Good access to trains too.
Okay. That’s good 😊
Have you considered Goulburn?
It's South West, more appropriate w.r.t. west of Sydney CBD is Dubbo or even further west is Broken Hill.
Sounds like OP has no idea that domain.com.au or realestate.com.au exist.
Since you didn't specify anything beyond $500k and 2 bedroom, here's an option. Right beside Arncliffe station too - 6 stops to Central on T4.
https://www.realestate.com.au/property-apartment-nsw-arnclif…
Grew up around that area, Arncliffe used to be a place you'd pass by, never stop.
Looking surprisingly more decent nowadays.Should probably prepare another $150k minimum on renovations for that dump.
https://www.realestate.com.au/property-apartment-nsw-sefton-… 2 2 1 126 m²Apartment, A$589,000, 15 minutes to Wooli, 10 minutes to Station, plenty more in Yagoona, 20km drive to Sydney Central.
https://www.realestate.com.au/property-apartment-nsw-auburn-…. 3 2 2Apartment.$580,000 - $630,000
Three Bedroom already, can rent one out to student etc to further reduce Home Loan Payment.
Seems you have absolutely no Idea. You will be at least 70 -100ks away from the City, at that unrealistic price.
There will be no transport, and certainly no "wollies".
In suggest you rent inner city. Get a real of the place. Possibly buy a map.
Friends just bought a 2 bedrm/ 2 bathroom/ 1 carspace apartment in Schofield for just under $500k … would call that more "outer suburbs"…
10 mins walk to Tallawong light rail, 1 station to Rouse Hill town centre that has Coles, Reading Cinemas, etc.Guess it's a reasonable first purchase. For Sydney standards.
Oh..I want it
just type in rouse hill/ schofields in the real estate websites, there's a few with walking distance to the town shopping centre and Tallawong metro.
heaps of young people getting first homes out that way.
North Parramatta. There is a decent sized Coles towards Parramatta CBD at Victoria Road. Get in before light rail is finished dude.
Look for townhouses in the far west e.g st Mary's, mount Druitt
Should be able to get +/- 210sqm for ~$650kish I think