Browse Forums Real Estate Re: Real Estate Dilemma - opinions please 7Jun 12, 2015 9:50 am Thanks for your reply qebtel. Though I don't doubt that the Sydney market will continue as it is, I do doubt that properties will bounce back to their once affordable levels in the areas I have been looking at. In the suburb I was focusing on, prices have spiralled upwards as fewer properties have come onto the market. There are few rentals available in the area and watching the market in this suburbs, I notice that few of the houses that sell are rented, as opposed to surrounding suburbs. Interestingly in some suburbs houses that have sold to investors are still awaiting tenants! Would hate to have taken out a large loan to fund these $1M prices, only to find that no one is willing to rent them, at least not at the prices they are asking. I cannot rent as I have pets and finding a property that will allow pets is almost impossible and with many people having pets means fierce competition. Now if I had an investment property, a house, I would be advertising as pet friendly then asking a slightly higher rent. Almost guaranteed you will have interest! Renting in Sydney would cost me too much. Am relying on bunking down with family at the moment. If I did rent, I would still look outside of Sydney where I could get a three bedroom house for the price of a two bedroom unit backing onto a railway line in Sydney. That is of course I could find a house with the pets! To wait for any bubble to burst could cost me finding any house within 2 hours of Sydney as I am approaching an age where lenders would not be willing to lend enough to purchase anything! And should I gamble on pricing dropping soon and they don't, then the ripple effect that is already being experienced by those areas just outside the metropolitan area will probably turn into waves and I would not be buying for much less! It is great to get feedback on my situation from those who can see the problem as it is and without personal influences. Though I don't expect anyone to make up my mind, I do appreciate ideas and musing of those who might put themselves in my position. Re: Real Estate Dilemma - opinions please 8Jun 12, 2015 4:48 pm Hi strata struggler. It sounds like you've made up your mind. You are right to consider your borrowing power and not hold off. I'm at that stage too. Getting my finances in order before I retire. Finding a nice place to retire too sounds like a great plan. Then just sit back and enjoy life. Re: Real Estate Dilemma - opinions please 9Jun 17, 2015 11:43 am stratastruggler To wait for any bubble to burst could cost me finding any house within 2 hours of Sydney as I am approaching an age where lenders would not be willing to lend enough to purchase anything! And should I gamble on pricing dropping soon and they don't, then the ripple effect that is already being experienced by those areas just outside the metropolitan area will probably turn into waves and I would not be buying for much less! Then these things are extra factors for you to consider that all become part of your equation. And its not a gamble of whether prices will drop - they will, Sydney median prices are not sustainable, you only have to look at our household level of debt . The gamble is just when prices will drop. Re: Real Estate Dilemma - opinions please 10Jun 17, 2015 8:30 pm qebtel Then these things are extra factors for you to consider that all become part of your equation. And its not a gamble of whether prices will drop - they will, Sydney median prices are not sustainable, you only have to look at our household level of debt . The gamble is just when prices will drop. You forgot to add "in my opinion". Don't get me wrong, I agree with you but there are those that don't too. After the last boom there were those that said prices would not recede and others who predicted a 40% drop (haha!). It varies by area as well. I've sold a few that I think won't sustain their price but others I doubt will drop much so holding. I'm keeping the money liquid to take advantage of drops. Time will tell (4 years I reckon). You can drag this up in 2019. Re: Real Estate Dilemma - opinions please 11Jun 23, 2015 1:04 pm travelbug qebtel Then these things are extra factors for you to consider that all become part of your equation. And its not a gamble of whether prices will drop - they will, Sydney median prices are not sustainable, you only have to look at our household level of debt . The gamble is just when prices will drop. You forgot to add "in my opinion". Don't get me wrong, I agree with you but there are those that don't too. Its not so much an opinion , as an interpretation of a multitude of economic indicators. It is going to happen, our government doesnt have the guts to implement radical reforms needed to prevent our economy going into complete doldrums. Its happened int he USA since 2007, in Japan since 1990, etc. http://www.dailymail.co.uk/news/article ... claim.html Hi We have finally decided to complete a KDR on our corner plot in NE Melbourne suburbs. Given its a corner plot approx. 400 sqm just a standard design may not fit the… 0 8579 Thankyou so much 😀 I've decided on White on white for doors and trims, White on white 50% on ceiling and Mt buller for walls. Fingers crossed it will look OK 😀 2 7172 |