Apartment only if it’s a small block, with great floor space and low maintenance. Even then it has to be in great location. Townhouse is the way to go. You still get a good amount of land component but also benefit from decent location so it will appeal to renters. Resi should boom given how close it is to the city and all that. Plus great transport already with significant improvement if the SRL gets done.
I'm from Sydney so do with that what you will but I personally would only ever buy in the desirable suburbs. You can't change the location of your property.
Unless the areas you're mentioning have objective benefits other than your house, such as beach or nature etc, fantastic amenities and transport, great schools and all that now, you will forever be limited in resale only to those who are looking to move out there because frankly they can't afford to live closer in.
Whereas your market for people in the area that's closer to things is not limited to those people. It might include some of who used to be those people who realised that having a house in the sticks isn't all that cracked up to be, plus everyone who wants to buy in your area because it rocks.
Additionally, I'd have a look at the statistics of how long it takes to sell properties in both areas, what's on the market, what the council strategies are for those areas and all of that. Good luck!
Really hard to avoid that, but I just opt for minimal body corp. only seen one or two little units with no strata body corp etc. in my time of searching 😂 but yes I’d love to avoid it. Realistically won’t be the biggest problem because I won’t have this property forever
Recently I made a post about some pros and cons of these property types.
From my personal experience, the ones that worked out are the ones that I bought to live in, then turn into IP.
But this approach is also biased because I am not an expert in property market. Maybe someone with more experience might say otherwise.
From emotional standpoint, if I buy investment, I always worried about the risk of lost value. When I bought the property just to live in, I was not consumed by the thought “what if property market crash”.
I am also better able to understand the future potential buyers/renters as they would share at least one or two similarities with me (have kids, want more space per $ etc).
If I bought some investment house at Broken Hill, I will be nervous having to manage it + don’t know what my target demographics are.
https://www.reddit.com/r/AusPropertyChat/s/uUq9VGFzPZ
Edit: Typo
Only you can decide. Your lifestyle (work friends social etc) will dictate where you want to live and be happy. In 2022 I went through similar decision making. Decided apartment 5.5k from work and cbd will suit my lifestyle. 20 mins bike ride to work treat myself to a barista coffee on most days for saving 10.60 on Myki. I’m healthy physically and mentally. I see cars stuck and traffic and glad this ain’t me. I see people crying whenever they see ‘buses replace trains’ in peak hour and I feel relieved I’m not one of these folks.
Oh I know it’s up to me to decide, just like seeking inspiration from others in a similar boat!
I’m fortunate enough to be fully work from home but yes, I despise peak hour and would be avoiding it if I could!!
Most of my friends live northern suburbs where I’m looking for a townhouse and this is where I’ve grown up so not keen on moving out further, but not sure I’d wanna live real close to the city.
Thank you 😊
It sounds like you need to weigh up your priorities. Yes, apartments will do better in the rental market but the capital gains if you sell won’t be quite as good as a townhouse. If it’s short term and you’re keen on renting it out in a couple of years, go with an apartment, however be wary of all the usual suspects: body corp, cladding, special levies, etc.
Good luck :)
Location Location Location
So an apartment in a good location > townhouse in Reservoir > house out further? in that order?
Apartment only if it’s a small block, with great floor space and low maintenance. Even then it has to be in great location. Townhouse is the way to go. You still get a good amount of land component but also benefit from decent location so it will appeal to renters. Resi should boom given how close it is to the city and all that. Plus great transport already with significant improvement if the SRL gets done.
Yeah transport is fab! I agree, I reckon townhouse. Thank you so much!
I'm from Sydney so do with that what you will but I personally would only ever buy in the desirable suburbs. You can't change the location of your property. Unless the areas you're mentioning have objective benefits other than your house, such as beach or nature etc, fantastic amenities and transport, great schools and all that now, you will forever be limited in resale only to those who are looking to move out there because frankly they can't afford to live closer in. Whereas your market for people in the area that's closer to things is not limited to those people. It might include some of who used to be those people who realised that having a house in the sticks isn't all that cracked up to be, plus everyone who wants to buy in your area because it rocks. Additionally, I'd have a look at the statistics of how long it takes to sell properties in both areas, what's on the market, what the council strategies are for those areas and all of that. Good luck!
[удалено]
Melbourne not Sydney
Sorry, I saw "epping" thought Sydney, cuz I am living nearby there \~\~
A house on land for sure. If you have to get apartment, avoid strata/body corporate like the plague.
Really hard to avoid that, but I just opt for minimal body corp. only seen one or two little units with no strata body corp etc. in my time of searching 😂 but yes I’d love to avoid it. Realistically won’t be the biggest problem because I won’t have this property forever
Recently I made a post about some pros and cons of these property types. From my personal experience, the ones that worked out are the ones that I bought to live in, then turn into IP. But this approach is also biased because I am not an expert in property market. Maybe someone with more experience might say otherwise. From emotional standpoint, if I buy investment, I always worried about the risk of lost value. When I bought the property just to live in, I was not consumed by the thought “what if property market crash”. I am also better able to understand the future potential buyers/renters as they would share at least one or two similarities with me (have kids, want more space per $ etc). If I bought some investment house at Broken Hill, I will be nervous having to manage it + don’t know what my target demographics are. https://www.reddit.com/r/AusPropertyChat/s/uUq9VGFzPZ Edit: Typo
choose the more fun lifestyle one
Agreed 😊
Only you can decide. Your lifestyle (work friends social etc) will dictate where you want to live and be happy. In 2022 I went through similar decision making. Decided apartment 5.5k from work and cbd will suit my lifestyle. 20 mins bike ride to work treat myself to a barista coffee on most days for saving 10.60 on Myki. I’m healthy physically and mentally. I see cars stuck and traffic and glad this ain’t me. I see people crying whenever they see ‘buses replace trains’ in peak hour and I feel relieved I’m not one of these folks.
Oh I know it’s up to me to decide, just like seeking inspiration from others in a similar boat! I’m fortunate enough to be fully work from home but yes, I despise peak hour and would be avoiding it if I could!! Most of my friends live northern suburbs where I’m looking for a townhouse and this is where I’ve grown up so not keen on moving out further, but not sure I’d wanna live real close to the city. Thank you 😊
It sounds like you need to weigh up your priorities. Yes, apartments will do better in the rental market but the capital gains if you sell won’t be quite as good as a townhouse. If it’s short term and you’re keen on renting it out in a couple of years, go with an apartment, however be wary of all the usual suspects: body corp, cladding, special levies, etc. Good luck :)
Thank you!
Always go with a house even if it is further away. Apartments don't last much.