Hi All,
Long time viewer, very rare poster. I'd really appreciate some views on this, even if it's out of the square.
I'm currently living in Marrickville with my partner who I will be marrying in December. We rent and love the inner west. Within the next 12 months we will be heading over to Europe for a few years for work. We will be having kids when overseas.
We are seriously considering buying in Sydney before we leave. Our budget is $500k.We're sort of priced out the inner west (2brm unit). We can maybe get into Croydon Park (no train line), but even Ashfield is looking too high for us.
The other option is the outer suburbs of Liverpool where both our parents' families live. When we come back to Sydney with kids, the family support, plus a back yard will come in handy.
But the ultimate goal is the inner west.
So really, it comes down the growth. Whilst the whole family support back yard thing in Hinchinbrook or Green Valley is nice, will it put us further away from our ultimate goal of an inner west terrace house?
We feel the inner west, whilst blue chip, will get slow but consistent growth over the next 3-5 years. It's not going to be a massive winner but it's in high demand and even with the recent growth spurt we feel it will slowly creep over the next few years.
But what about Hinchinbrook and Green Valley and surrounds? I haven't had my eye on that market? Has it had a heap of growth and will it remain flat for the next few years? I suspect the Sydney market as a whole will be flat for a few years and a lot of the outer suburbs will be flat whilst their will still be demand for the inner city.
And what about other options?
Is it better to plonk our savings into blue chip shares for 5 years and upon return to Sydney we then look at buying?
Do ignore the Inner West and Liverpool, and buy a place in Brisbane's inner ring just for the growth? Due to entry and exit fees into the market I think I prefer the blue chip shares option.
I'd really appreciate any opinions and feedback.
Regards,
John
Long time viewer, very rare poster. I'd really appreciate some views on this, even if it's out of the square.
I'm currently living in Marrickville with my partner who I will be marrying in December. We rent and love the inner west. Within the next 12 months we will be heading over to Europe for a few years for work. We will be having kids when overseas.
We are seriously considering buying in Sydney before we leave. Our budget is $500k.We're sort of priced out the inner west (2brm unit). We can maybe get into Croydon Park (no train line), but even Ashfield is looking too high for us.
The other option is the outer suburbs of Liverpool where both our parents' families live. When we come back to Sydney with kids, the family support, plus a back yard will come in handy.
But the ultimate goal is the inner west.
So really, it comes down the growth. Whilst the whole family support back yard thing in Hinchinbrook or Green Valley is nice, will it put us further away from our ultimate goal of an inner west terrace house?
We feel the inner west, whilst blue chip, will get slow but consistent growth over the next 3-5 years. It's not going to be a massive winner but it's in high demand and even with the recent growth spurt we feel it will slowly creep over the next few years.
But what about Hinchinbrook and Green Valley and surrounds? I haven't had my eye on that market? Has it had a heap of growth and will it remain flat for the next few years? I suspect the Sydney market as a whole will be flat for a few years and a lot of the outer suburbs will be flat whilst their will still be demand for the inner city.
And what about other options?
Is it better to plonk our savings into blue chip shares for 5 years and upon return to Sydney we then look at buying?
Do ignore the Inner West and Liverpool, and buy a place in Brisbane's inner ring just for the growth? Due to entry and exit fees into the market I think I prefer the blue chip shares option.
I'd really appreciate any opinions and feedback.
Regards,
John