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Hi all,
I'm looking at purchasing an investment property and looking for recommendation for best areas under 400k... I also want to build a granny flat on this new property as well... Capital growth is important but from a long term perspective... does anyone have any recommendations?
Hi all,
I'm looking at purchasing an investment property and looking for recommendation for best areas under 400k... I also want to build a granny flat on this new property as well... Capital growth is important but from a long term perspective... does anyone have any recommendations?
A granny flat is likely to put you in negative equity - at least in the short term.
Putting a granny flat may only be able to make the property netural - and not be great cash flow like a few years ago.
I don't think it is worthwhile just putting on a granny flat for the sake of it. Consider buying a block with some sort of an upside instead? e.g. corner block? A site with a big frontage? whilst subject to council rules, the land may have development potential down the track. This way you aren't buying anything dud.
Lastly, but most importantly consider your goals.
Good luck!
I like Port Macquarie as a place for holiday, that's all.
Properties (landed) in Penrith will cost more than $400k.
Dubbo, interesting pick.
Why does it need to be NSW ?
ta
rolf
What does looking at it yourself give you? Are you qualified to complete any work if required, is your time worth that to go and do this work?
whats everyones thoughts on Goulburn? You can pick up bargains under 350K and the CG stats speak for themselves... Yield isnt to bad either at around 5.6%.. im just starting my DD on the area but doesnt look bad so far... As for Dubbo well we bought there around 2 years ago and have seen good capital in the vacinity of over 12%PA so its performed well to date... fingers crossed it keeps moving in the right direction
Except the house in ACT will likely be leasehold, not freehold. A quick search on re.com suggests that $350k will get you a 2 bedroom townhouse or apartment, not a house.
A lot of people commute to Canberra from Goulburn.
Check out tenancy laws and land tax in ACT .
Cliff