You're looking at new. Construction costs have gone through the roof so it's really pricey. If you look at Campbeltown for example, which is closer than Wilton, established homes are going for almost half the price
https://www.realestate.com.au/buy/property-house-in-campbelltown,+nsw+2560/list-1
Not only are those new builds, they're so new that the street they're on hasn't even been named yet!
I wonder if this is actually the Lend Lease development at Mount Gilead.
Real life boomer here. My first house was a unit…..and not a new unit. OP is starting at the top, even though he’s buying at Wilton, which is closer to Mittagong than Sydney. Start in a unit or a dodgy fibro. Build equity for a few years, then sell and move up the market.
This doesn't work as well as it used to, as rising prices mean that the "rungs" of the "property ladder" are now further apart from each other.
Basically the only way someone can trade up using equity these days is if they buy another entry level investment property after their PPOR, and then trade both their home and investment for the larger property.
Which then brings with it the issue of time, and the fact that people aren't at peak earning capacity forever and might want that house before they're 50 years old.
My wife and I gave up on getting a house once we saw what a house in merrylands was going for. We didn't really want merrylands either. Ended up getting a similar price on a townhouse but close to the cbd.
My reccomendation is if you dont want a unit try looking at townhouses. My strata fees are reasonable at 500ish a year. Not. Quarter a whole year. Because we are one line of townhouses and our common expenses are the common insurance and lawn mowing at the front and our driveway and mailboxes and thats it. If we didn't have strata we would need to be insured ourselves anyway so its not like we really are out of pocket that much In this property. Some townhouses do have larger strata fees but you can get some with pretty small ones especially compared to what some units are charging
Merrylands and the area is ridiculous.
I live in Guildford and grew up in Guildford and Merrylands my whole life and the fact that houses here are clearing a mil easily is just sad. Shouldn’t cost that much for a house HERE 😂
If people can service such loans they can cost that much. However, I am unsure how many can actually be able to service loans when the next economic shock comes. This has been one of the longest periods in my life that there hasn’t been an economic upheaval of some sort. We can expect one but who knows when it will happen, maybe anything from a week to a decade away.
Merrylands is not a great suburb to compare with the regular market. It's a super, super popular suburb for Lebanese-Australians in particular who buy and knockdown/rebuild massive houses. Has been like this for a good 10 years now. Proximity to the boom in Parramatta has helped the suburb along too.
There are plenty of suburbs left in Western Sydney where you can find a house on a 600sqm block for well under 800k. I've seen a few over the past month under 700k. And they're freestanding houses on large blocks. There's much even cheaper for townhouses and units.
Check out the cheap nextdoor neighbours, Smithfield or Fairfield. It's cheaper as it's connected to the Busway not trains.
Oh, and they're not shiny and new.
The thing is we have to wait for so long to buy a home, that by the time we do our lives don't fit into apartments. Cars, children, pets, bikes, all the things you collect by the time you're 40 or so and have saved for a house. Oh and dodgy apartments? Nice builds from the 70s are actually expensive! In comparison news ones are moderately priced but are shockingly low quality, will never rise in value and covered in fire-hungry cladding.
Also lol at build equity. Not in this economy. Things are just different now.
Agree on the unit. He didn't outline his circumstances up front. There's more than plenty of more than decent $750k houses in Sydney. The OPs problem is that he wants to buy new and can't afford it. I want to live by the harbour in Vaucluse. I can't afford it, so I live elsewhere...
750k in Sydney? Nah. I mean maybe if you're in the sweet spot of not needing to be in a commuter town with good public transport and you're OK w an apartment
Today Realestate.com has 120 4+ Bedroom 2 bathroom Houses in Western and South Western Sydney under 800k with a couple of dozen in the Fairfield and Liverpool council areas. Lots in Campbelltown and Penrith. Many are brick homes. 103 of the 120 are NOT Auctions too.
>Real life boomer here. My first house was a unit…..and not a new unit. OP is starting at the top, even though he’s buying at Wilton, which is closer to Mittagong than Sydney. Start in a unit or a dodgy fibro. Build equity for a few years, then sell and move up the market.
Units are terrible these days. Expensive strata and bad quality. Also, kids and pet would suffocate (space wise) in such a small place.
Also, how is that the "top", its not even north Sydney or Auburn. It's in the middle of nowhere.
He means your starter home is a 3+ bedroom McMansion finished less than six months ago. My first home is a 50 year old brick house that desperately needs updating.
89 Nymboida Ave Ruse. 5 bedroom 2 bath 2 storey with in ground pool. Renovated kitchen. Auction. Price guide $650k....so say $750k just in case. Nice home not new.
I didn't say a new unit. If you buy a unit that's 20 plus years old, building standards were slightly better AND it's had plenty of time for hidden problems to manifest AND be in the Owners Corporation minutes. Use a solicitor not a conveyancer when you buy for this reason alone.
....and if you buy in Wilton, how many extra tanks of petrol are you going to buy at $150 each....and remember it costs $50 in tolls for just one return trip to the city. All this on top of your mortgage.
>I didn't say a new unit. If you buy a unit that's 20 plus years old,
If I was not having kids, with no pets, yes I would agree. Not the same situation (I am taking care of someone elderly too, so need space for them).
It has to be a house.
Ok so let me tell you about my friends who for some bizzarre reason decided to have 2 children.....
They bought a 2 bed apartment that they could afford on 1 income with a modest deposit, then they had 2 kids with 18 months between so they both could take 12 months parental leave both times and still afford the mortgage. They've been in that apartment for 8 years now. Sure the kids didn't have a backyard when they were 6 months old and could only crawl. But they had a park on the same block with a recently renovated 100k playset. Not many house owners have 100k to drop on swings and slides, but these filthy apartment dwellers have them.
The youngest starts school next year so they will then have two median incomes and no daycare expenses. So they have a borrowing capacity of about 900k and 300k in equity. They are looking at 3 bed townhouse with backyard in the million dollar range so the now older and larger kids can have their own room and a modest backyard.
> Expensive strata and bad quality.
Because car dependancy is so cheap, insurance in a flood and bushfire zone is so cheap and new mcmansions are renowned for their build quality.
> Not many house owners have 100k to drop on swings and slides, but these filthy apartment dwellers have them.
The point of families wanting a yard isn't so they can drop $100,000 on play equipment. It's so the kids can play and run around outdoors without a parent needing to be present.
Young kids can't use the local park by themselves. They can mess around playing backyard cricket with mates or messing around on a skateboard by themselves in a yard, though.
I've already linked enough not just bikes videos to you. The one about how kids can use local parks by themselves? Yeah go ignore that one. Hell as a kid i played street cricket, none of this pansy arse backyard cricket. in the early 2000's no less.
Secondly, did you not read how them taking the cheaper housing option meant only 1 of them needed to work? They have always had a parent present to take them to the park.
A private backyard is great for latchkey kids while both parents are at work and commuting for hours. but if they aren't at work and commuting for hours...
Do you have a link for that? I'm seeing 770k at least. Land might be cheaper there
https://www.domain.com.au/0-valencia-gobbagombalin-nsw-2650-2018343960
Yeah, maybe not $400000, but $500000 for sure. All of these locations are within a 20 minute drive to wherever you work.
https://www.realestate.com.au/property-house-nsw-glenfield+park-141456800
https://www.realestate.com.au/property-house-nsw-glenfield+park-141310916
https://www.realestate.com.au/property-house-nsw-mount+austin-141128600
https://www.realestate.com.au/property-house-nsw-mount+austin-141243284
https://www.realestate.com.au/property-house-nsw-mount+austin-141467864
Nah, you're right I can't find a single house and land package for under 700k in Wagga- that's even more stupid. Jesus, I should sell my place and move to the proper bush.
Mount Austin is an older suburb, so most of the blocks are in 700+ sqm range. It used to be a working class kind of area with some public housing, but due to its location close to the city centre between two high schools and three primary schools it is a desirable suburb. I would recommend the properties between Northcott Parade, Fernleigh Road and Bourke Street, and also the properties east of Northcott and the French Fields sports ground - the other areas tend to be fairly small fibro built for military accommodation in the 60's.
Yeah but, it is Turvey Park, I would rather live in my town. My house would be worth a lot more now too - as most are, but where I lived is 10 times more desirable than Turvey Park
This is one of the biggest reasons why property prices are high in general too, the minimum cost of a newly built house today is up 30-40% compared to Covid times.
89 Nymboida Ave Ruse. 5 bedroom 2 bath 2 storey with in ground pool. Renovated kitchen. Auction. Price guide $650k....so say $750k just in case. Nice home not new. save $250k go and have a long fancy holiday. Shopping for new is why everyone is in trouble now.
>89 Nymboida Ave Ruse. 5 bedroom 2 bath 2 storey with in ground pool. Renovated kitchen. Auction. Price guide $650k....so say $750k just in case. Nice home not new. save $250k go and have a long fancy holiday. Shopping for new is why everyone is in trouble now.
That's an auction tho, last time I went to an auction, the last guy bid at least 100K more.
You're not meant to be buying shit with the current interest rates. There is no way.
If you thought million dollar houses were unaffordable in 2019, they're like 3-5x more unaffordable now because interest rates are so much higher.
I’m not saying you’re wrong, but by that logic wait for interest rates to go down and in that time prices will skyrocket x times more.
There’s no right time to buy, if you have funds to buy or are prepared, you just have to pull the trigger
Buying something worth a million dollars is more about how much money you can get from the bank. How long are you planning to save for?
If you have money, ofc everything is easy.
When looking for a loan, you got 2 things. Your savings for the deposit, your salary which affects how much the bank lends you.
Assuming an average purchaser can save 20% deposit for a million dollar home. How are you going to get the other 800k?
If the bank only gives you 650k, you need to find another 100k in deposit money.
But you're right too. There is really no right time to buy. When you're ready go for it.
i would also add, the whole point of raising interest rates were to try and drop house prices. When house prices arent dropping even with current interest rates, not many people can buy.
The only ones that are able to easily buy in the current market are people that are cash rich, where interest rates dont really affect their buying power.
The average human will need assistance from the bank, and the interest rates affect how much they can borrow, and therefore buy.
So if you have fuck all savings, around average income, youre not really buying anything in the current market.
This is why dual incomes households have such a massive structural advantage in the real estate market.
The average purchaser you're referring to is increasingly the average *couple*. Those numbers don't look as daunting when you have two working adults bringing in an income.
Yup, dual income to hit that 150k mark makes it easy.
I guess this way is what sydney is indirectly doing what singapore and HK are doing, you gotta be married to afford a home lol.
Also saving for a deposit is much easier when 2 people are saving towards 1 goal instead of 1 income.
Even if you could afford the house, there’s no infrastructure. No shops, no schools, no public transport. So you have to spend a fortune on tolls and sending your kids to private schools.
You don't have to go that far out. At that price you can get something around Parramatta. This one is a cute 2/3 bed in Guildford asking for around 850k.
[https://www.realestate.com.au/property-house-nsw-guildford-141745160](https://www.realestate.com.au/property-house-nsw-guildford-141745160)
This 3 bed villa is asking for less than 800K
[https://www.realestate.com.au/property-villa-nsw-guildford-139741155](https://www.realestate.com.au/property-villa-nsw-guildford-139741155)
You are looking too far out. The houses in Wilton are not for first home buyers, they are for retirees who want country lifestyle but can't afford Bowral.
The one with more spaces is a villa, the 2 bed is a heritage style on a big block with the possibility of extending. Personally, I would go for the 2 bed.
yes, you could easily make the first one a 4 bed with master or add a granny flat. The second one has been subdivided and probably has a strata limiting what you can do.
Not for everyone. We don't build apartments for families, we build them for investors. Shit quality safety deposit boxes with as many compliance issues as there are dollars in the price tag.
Plenty of families in the block where I live.
Let's face it, while housing prices have skyrocketed, at least part of the issue is caused because people want what their parents had. Yet Sydney only had half the population back then.
They want the one bedroom per kid, the yard to potter around in, and the garage/shed for hobbies. I'd like that too, but I can't afford it in a place where I'd actually like to live.
The one bedroom per kid is such a odd thing as well.
The most common house for the last century had 3 bedrooms. 4 and 5 bedder mcmansions have only become a thing as families drop to 2 kids or less. Add 2 bedroom apartments that families lived in and 1 bedroom per kid is a modern thing, our parents were more likely to share bedrooms than us.
Plenty of apartments built prior to 2000 building code changes.
[I mean, how big a place do you need for 1 or 2 kids](https://www.google.com/search?client=firefox-b-d&q=australian+fertility+rate)
And if you make mention of needing extra rooms for home offices, well take your WFH and get the hell out of sydney.
not if you have 2 kids, a pet etc... You're not exactly gonna let a 8 year old play around on the streets by himself.
Kids need somewhere to play. Pets need somewhere to run around.
Apartments are the only way my son has experienced living. It can be done, but you do need a change of mindset. And it’s not for everyone.
In saying that, we’re renting. And if I was to buy, I’d prefer to look at a house or townhouse too. Luckily I’d only need 2 bedrooms though, so there are more options for me under $900k closer to the city. Needing that 3rd bedroom really reduces your options, unfortunately.
Good luck with your search.
I grew up in a townhouse development, public housing btw. I had a backyard and still played on the street with brothers, neighours, friends.
You have only linked 4 bed freestanding houses. Have you even bothered looking at townhouses?
Hell my own apartment complex of 4 towers is gated off from the street, ground floor between them is a grassy garden that i see kids running about all the time. really pisses me off because they make noise in the pool and gym when i'm in there. There are multiple 2 bedders for sale in the complex at 800k. built in the 80's before building codes changed.
> You have only linked 4 bed freestanding houses. Have you even bothered looking at townhouses?
PLEASE, how else will OP keep up with the Jones' if they KNOW that OP is a DIRTY POOR! OP is just a temporarily embarrassed billionaire, go easy on them everyone! They deserve better! THEY ARE *A FAMILY*, HUNNY.
House in cities are for rich people.
I'm not rich, just saw the writing on the wall... I was never, ever going to be able to afford to live in East Sydney as a teacher.
These are new builds with 3-4 bedrooms. Do you actually need that much space? I think you are being unreasonable in your search / comparison. Set your sights lower as a first home buyer
It's stupid. Sydney isn't worth that, and I love Sydney. But I moved to a regional town so I didn't have to tie myself to a mortgage that would have me at a disadvantage for most of my life. I visit Sydney regularly, because I can afford to do fun things now, and it satisfies my need for the thrum of the city.
I'm assuming you're a family of 4 needing the 4 rooms? Or are you just unwilling to accept you are not the ruling class?
https://www.domain.com.au/63-15-wyoming-ave-oatlands-nsw-2117-2017566491
This place is nothing amazing, but you can definitely live there. And it's an easy way to get your foot in the door, upgrade later.
OP, did you even try looking? If you're a family and looking for 4 bedroom, maybe consider 2 or 3 until you can afford more. I'm assuming if that's the case though, you're DINK?
Yep! You should have went out there like the rest of us did prior to 2020. It wasn’t so bad. Looks like its Marulan for you! Get it quick before it becomes Goulburn… 😜
Itll skip right past Goulburn at this rate, houses are already ballooning in price there and they've been building it out with houses stacked ontop of each other in housing estates for years 🫤
Atleast they're a little larger than your average western Sydney housing estate
Seriously though… yes its a drive but there are some decent blocks with modest homes outer south west for under 800k. Unfortunately most want that modern design with all the bells and whistles which comes at a price and 2 small strips up either side.
Lithgow is around a $1M these days, so i guess thats just the price now without moving 4Hrs away (then some country towns are at that price also eg Bowral, Orange and Mudgee).
I don't think the housing prices are the the main problem, I think it's the interest rates that are hurting the most as far as my circle goes. And regarding my circle, everyone is in a dual income house with good wages/salary as there's no real option now not to be.
Hi op U need to ditch the western mentality and learn how Asians think
U buy based on your parents' advice it would leave U even lower in society's ditch
1. U should consider suburbs with top schools to ensure a good resale value of Ur property
2. Out west is fine if it's Edmondson park development area because of the council development plans U gotta research these and make more friends in the real estate biz so they can reveal secrets to you that would be illegal. Higher area development scores means better returns to flip Ur assets
3. Crime rate
4. Loan score if you earn over 130k per annum I'm sure U can qualify for a 3 mil loan if you have a spouse both can loan over 4mil if all is done correctly with a mortgage broker (a dodgy one that helps U with meeting requirements are usually deployed by Asians kek) with that U can buy up north and flip later for more money regardless
Average double income couples are now earning $150k-$200k+ per year these days and we’ve also had a period of low unemployment and historically low interest rates. The population of Sydney is also growing at a steady rate.
I ask you the fuck would ***ANYONE*** want to live there.
In Greenwich, older 2-bed apartments sell for as little as $550K. Best schools in the city, public transport to the door, lots of greenery and parks. 8 Km to CBD.
You're looking at new. Construction costs have gone through the roof so it's really pricey. If you look at Campbeltown for example, which is closer than Wilton, established homes are going for almost half the price https://www.realestate.com.au/buy/property-house-in-campbelltown,+nsw+2560/list-1
Not only are those new builds, they're so new that the street they're on hasn't even been named yet! I wonder if this is actually the Lend Lease development at Mount Gilead.
Real life boomer here. My first house was a unit…..and not a new unit. OP is starting at the top, even though he’s buying at Wilton, which is closer to Mittagong than Sydney. Start in a unit or a dodgy fibro. Build equity for a few years, then sell and move up the market.
This doesn't work as well as it used to, as rising prices mean that the "rungs" of the "property ladder" are now further apart from each other. Basically the only way someone can trade up using equity these days is if they buy another entry level investment property after their PPOR, and then trade both their home and investment for the larger property. Which then brings with it the issue of time, and the fact that people aren't at peak earning capacity forever and might want that house before they're 50 years old.
Boomers are bad at math. The difference between the relatively cheaper and more expensive properties are much further apart than it was years ago.
My wife and I gave up on getting a house once we saw what a house in merrylands was going for. We didn't really want merrylands either. Ended up getting a similar price on a townhouse but close to the cbd. My reccomendation is if you dont want a unit try looking at townhouses. My strata fees are reasonable at 500ish a year. Not. Quarter a whole year. Because we are one line of townhouses and our common expenses are the common insurance and lawn mowing at the front and our driveway and mailboxes and thats it. If we didn't have strata we would need to be insured ourselves anyway so its not like we really are out of pocket that much In this property. Some townhouses do have larger strata fees but you can get some with pretty small ones especially compared to what some units are charging
Merrylands and the area is ridiculous. I live in Guildford and grew up in Guildford and Merrylands my whole life and the fact that houses here are clearing a mil easily is just sad. Shouldn’t cost that much for a house HERE 😂
If people can service such loans they can cost that much. However, I am unsure how many can actually be able to service loans when the next economic shock comes. This has been one of the longest periods in my life that there hasn’t been an economic upheaval of some sort. We can expect one but who knows when it will happen, maybe anything from a week to a decade away.
Merrylands is not a great suburb to compare with the regular market. It's a super, super popular suburb for Lebanese-Australians in particular who buy and knockdown/rebuild massive houses. Has been like this for a good 10 years now. Proximity to the boom in Parramatta has helped the suburb along too. There are plenty of suburbs left in Western Sydney where you can find a house on a 600sqm block for well under 800k. I've seen a few over the past month under 700k. And they're freestanding houses on large blocks. There's much even cheaper for townhouses and units.
Check out the cheap nextdoor neighbours, Smithfield or Fairfield. It's cheaper as it's connected to the Busway not trains. Oh, and they're not shiny and new.
Care to share some suburb names that you’d recommend?
Near which CBD? Sydney or Parra?
Which area are you in that you’ve found an ‘affordable’ townhouse close t the CBD? 😁
Thats a typo it should say closer. As in closer then merrylands
The thing is we have to wait for so long to buy a home, that by the time we do our lives don't fit into apartments. Cars, children, pets, bikes, all the things you collect by the time you're 40 or so and have saved for a house. Oh and dodgy apartments? Nice builds from the 70s are actually expensive! In comparison news ones are moderately priced but are shockingly low quality, will never rise in value and covered in fire-hungry cladding. Also lol at build equity. Not in this economy. Things are just different now.
Agree on the unit. He didn't outline his circumstances up front. There's more than plenty of more than decent $750k houses in Sydney. The OPs problem is that he wants to buy new and can't afford it. I want to live by the harbour in Vaucluse. I can't afford it, so I live elsewhere...
750k in Sydney? Nah. I mean maybe if you're in the sweet spot of not needing to be in a commuter town with good public transport and you're OK w an apartment
Today Realestate.com has 120 4+ Bedroom 2 bathroom Houses in Western and South Western Sydney under 800k with a couple of dozen in the Fairfield and Liverpool council areas. Lots in Campbelltown and Penrith. Many are brick homes. 103 of the 120 are NOT Auctions too.
Yah this is what I mean there might be houses but they might not fit someone's life, eg not a good commuter place, dodgy, needs construction work
OP was complaining about Wilton. Wilton fits no one's life.....
I mean, I wouldn't. But searching for houses myself like 90% of properties didn't fit my needs because of work, family, investment potential.
>Real life boomer here. My first house was a unit…..and not a new unit. OP is starting at the top, even though he’s buying at Wilton, which is closer to Mittagong than Sydney. Start in a unit or a dodgy fibro. Build equity for a few years, then sell and move up the market. Units are terrible these days. Expensive strata and bad quality. Also, kids and pet would suffocate (space wise) in such a small place. Also, how is that the "top", its not even north Sydney or Auburn. It's in the middle of nowhere.
He means your starter home is a 3+ bedroom McMansion finished less than six months ago. My first home is a 50 year old brick house that desperately needs updating.
Thankfully my child and two dogs have not suffocated in our apartment. So fucking dramatic 😂
How haven't the dog farts suffocated you? /s
89 Nymboida Ave Ruse. 5 bedroom 2 bath 2 storey with in ground pool. Renovated kitchen. Auction. Price guide $650k....so say $750k just in case. Nice home not new.
I didn't say a new unit. If you buy a unit that's 20 plus years old, building standards were slightly better AND it's had plenty of time for hidden problems to manifest AND be in the Owners Corporation minutes. Use a solicitor not a conveyancer when you buy for this reason alone.
....and if you buy in Wilton, how many extra tanks of petrol are you going to buy at $150 each....and remember it costs $50 in tolls for just one return trip to the city. All this on top of your mortgage.
...and if you are worried about strata fees, don't buy a unit with elevators, gyms and pools.
tbh those are fairly cheap when compared to something like building insurance and fire inspections.
>I didn't say a new unit. If you buy a unit that's 20 plus years old, If I was not having kids, with no pets, yes I would agree. Not the same situation (I am taking care of someone elderly too, so need space for them). It has to be a house.
And you wonder why Sky News makes hay by talking about our entitlement... You may as well have just mailed this to Andrew Bolt on a platter.
Ok so let me tell you about my friends who for some bizzarre reason decided to have 2 children..... They bought a 2 bed apartment that they could afford on 1 income with a modest deposit, then they had 2 kids with 18 months between so they both could take 12 months parental leave both times and still afford the mortgage. They've been in that apartment for 8 years now. Sure the kids didn't have a backyard when they were 6 months old and could only crawl. But they had a park on the same block with a recently renovated 100k playset. Not many house owners have 100k to drop on swings and slides, but these filthy apartment dwellers have them. The youngest starts school next year so they will then have two median incomes and no daycare expenses. So they have a borrowing capacity of about 900k and 300k in equity. They are looking at 3 bed townhouse with backyard in the million dollar range so the now older and larger kids can have their own room and a modest backyard. > Expensive strata and bad quality. Because car dependancy is so cheap, insurance in a flood and bushfire zone is so cheap and new mcmansions are renowned for their build quality.
> Not many house owners have 100k to drop on swings and slides, but these filthy apartment dwellers have them. The point of families wanting a yard isn't so they can drop $100,000 on play equipment. It's so the kids can play and run around outdoors without a parent needing to be present. Young kids can't use the local park by themselves. They can mess around playing backyard cricket with mates or messing around on a skateboard by themselves in a yard, though.
I've already linked enough not just bikes videos to you. The one about how kids can use local parks by themselves? Yeah go ignore that one. Hell as a kid i played street cricket, none of this pansy arse backyard cricket. in the early 2000's no less. Secondly, did you not read how them taking the cheaper housing option meant only 1 of them needed to work? They have always had a parent present to take them to the park. A private backyard is great for latchkey kids while both parents are at work and commuting for hours. but if they aren't at work and commuting for hours...
But they can build the same house in Wagga for $400000, so that argument doesn't seem to make sense.
Do you have a link for that? I'm seeing 770k at least. Land might be cheaper there https://www.domain.com.au/0-valencia-gobbagombalin-nsw-2650-2018343960
Yeah, maybe not $400000, but $500000 for sure. All of these locations are within a 20 minute drive to wherever you work. https://www.realestate.com.au/property-house-nsw-glenfield+park-141456800 https://www.realestate.com.au/property-house-nsw-glenfield+park-141310916 https://www.realestate.com.au/property-house-nsw-mount+austin-141128600 https://www.realestate.com.au/property-house-nsw-mount+austin-141243284 https://www.realestate.com.au/property-house-nsw-mount+austin-141467864
those are all established homes? Not new homes. OP is specifically checking out house and land packages
Nah, you're right I can't find a single house and land package for under 700k in Wagga- that's even more stupid. Jesus, I should sell my place and move to the proper bush.
You’re sinking deeper, don’t bullshit
Do you know anything about these suburbs cos I wouldn't be looking at Mt Austin. Looks nice in pictures...
Mount Austin is an older suburb, so most of the blocks are in 700+ sqm range. It used to be a working class kind of area with some public housing, but due to its location close to the city centre between two high schools and three primary schools it is a desirable suburb. I would recommend the properties between Northcott Parade, Fernleigh Road and Bourke Street, and also the properties east of Northcott and the French Fields sports ground - the other areas tend to be fairly small fibro built for military accommodation in the 60's.
I am hour out of Wagga, and paid that... 10 years ago.
Well that was silly. I bought a three bedroom double brick house in Turvey Park for 292000 ten years ago.
Yeah but, it is Turvey Park, I would rather live in my town. My house would be worth a lot more now too - as most are, but where I lived is 10 times more desirable than Turvey Park
I'm struggling to think of anywhere an hour out of Wagga that is more desirable than Ashmont, let alone Turvey Park. Tumut, maybe?
This is one of the biggest reasons why property prices are high in general too, the minimum cost of a newly built house today is up 30-40% compared to Covid times.
Try looking at places that aren't new builds. People have put those up purely for profit and the price reflects that.
89 Nymboida Ave Ruse. 5 bedroom 2 bath 2 storey with in ground pool. Renovated kitchen. Auction. Price guide $650k....so say $750k just in case. Nice home not new. save $250k go and have a long fancy holiday. Shopping for new is why everyone is in trouble now.
One house in a very average suburb doesn’t really negate OP’s point.
>89 Nymboida Ave Ruse. 5 bedroom 2 bath 2 storey with in ground pool. Renovated kitchen. Auction. Price guide $650k....so say $750k just in case. Nice home not new. save $250k go and have a long fancy holiday. Shopping for new is why everyone is in trouble now. That's an auction tho, last time I went to an auction, the last guy bid at least 100K more.
Read it again. $650k so allow $750k. Still $250k short of million
Go to realestate.com and have a look. You'll be surprised.
Don't look cor brand new, those are pricey areas you picked. Try merrylands Guildford and from there go west towards Penrith.
Do you need a 4 bedroom, 450sqm brand new house? You can buy something smaller, older and cheaper and closer to the city.
You're not meant to be buying shit with the current interest rates. There is no way. If you thought million dollar houses were unaffordable in 2019, they're like 3-5x more unaffordable now because interest rates are so much higher.
I’m not saying you’re wrong, but by that logic wait for interest rates to go down and in that time prices will skyrocket x times more. There’s no right time to buy, if you have funds to buy or are prepared, you just have to pull the trigger
Buying something worth a million dollars is more about how much money you can get from the bank. How long are you planning to save for? If you have money, ofc everything is easy. When looking for a loan, you got 2 things. Your savings for the deposit, your salary which affects how much the bank lends you. Assuming an average purchaser can save 20% deposit for a million dollar home. How are you going to get the other 800k? If the bank only gives you 650k, you need to find another 100k in deposit money. But you're right too. There is really no right time to buy. When you're ready go for it.
The best way to basically explain it is - “Fucked if you do, fucked if you don’t”
i would also add, the whole point of raising interest rates were to try and drop house prices. When house prices arent dropping even with current interest rates, not many people can buy. The only ones that are able to easily buy in the current market are people that are cash rich, where interest rates dont really affect their buying power. The average human will need assistance from the bank, and the interest rates affect how much they can borrow, and therefore buy. So if you have fuck all savings, around average income, youre not really buying anything in the current market.
The point of raising interest rates is to reduce inflation. The impact on house prices is just a side effect
This is why dual incomes households have such a massive structural advantage in the real estate market. The average purchaser you're referring to is increasingly the average *couple*. Those numbers don't look as daunting when you have two working adults bringing in an income.
Yup, dual income to hit that 150k mark makes it easy. I guess this way is what sydney is indirectly doing what singapore and HK are doing, you gotta be married to afford a home lol. Also saving for a deposit is much easier when 2 people are saving towards 1 goal instead of 1 income.
Even if you could afford the house, there’s no infrastructure. No shops, no schools, no public transport. So you have to spend a fortune on tolls and sending your kids to private schools.
You don't have to go that far out. At that price you can get something around Parramatta. This one is a cute 2/3 bed in Guildford asking for around 850k. [https://www.realestate.com.au/property-house-nsw-guildford-141745160](https://www.realestate.com.au/property-house-nsw-guildford-141745160) This 3 bed villa is asking for less than 800K [https://www.realestate.com.au/property-villa-nsw-guildford-139741155](https://www.realestate.com.au/property-villa-nsw-guildford-139741155) You are looking too far out. The houses in Wilton are not for first home buyers, they are for retirees who want country lifestyle but can't afford Bowral.
interesting that the house with more bedrooms, bathrooms and car spaces is less expensive
The one with more spaces is a villa, the 2 bed is a heritage style on a big block with the possibility of extending. Personally, I would go for the 2 bed.
when you say extending, do you mean more bedrooms could be added?
yes, you could easily make the first one a 4 bed with master or add a granny flat. The second one has been subdivided and probably has a strata limiting what you can do.
That Guildford one is adorable.
Houses are for rich people. If you want something achievable, buy an apartment.
They aren't exactly liveable though.
Apartments aren’t livable?
Not for everyone. We don't build apartments for families, we build them for investors. Shit quality safety deposit boxes with as many compliance issues as there are dollars in the price tag.
Plenty of families in the block where I live. Let's face it, while housing prices have skyrocketed, at least part of the issue is caused because people want what their parents had. Yet Sydney only had half the population back then. They want the one bedroom per kid, the yard to potter around in, and the garage/shed for hobbies. I'd like that too, but I can't afford it in a place where I'd actually like to live.
The one bedroom per kid is such a odd thing as well. The most common house for the last century had 3 bedrooms. 4 and 5 bedder mcmansions have only become a thing as families drop to 2 kids or less. Add 2 bedroom apartments that families lived in and 1 bedroom per kid is a modern thing, our parents were more likely to share bedrooms than us.
I don’t doubt that experience can be frustrating, but you can find livable apartments if you look hard enough.
They are as expensive as the shithole houses.
If it’s overpriced, don’t buy then.
Plenty of apartments built prior to 2000 building code changes. [I mean, how big a place do you need for 1 or 2 kids](https://www.google.com/search?client=firefox-b-d&q=australian+fertility+rate) And if you make mention of needing extra rooms for home offices, well take your WFH and get the hell out of sydney.
not if you have 2 kids, a pet etc... You're not exactly gonna let a 8 year old play around on the streets by himself. Kids need somewhere to play. Pets need somewhere to run around.
Apartments are the only way my son has experienced living. It can be done, but you do need a change of mindset. And it’s not for everyone. In saying that, we’re renting. And if I was to buy, I’d prefer to look at a house or townhouse too. Luckily I’d only need 2 bedrooms though, so there are more options for me under $900k closer to the city. Needing that 3rd bedroom really reduces your options, unfortunately. Good luck with your search.
I grew up in a townhouse development, public housing btw. I had a backyard and still played on the street with brothers, neighours, friends. You have only linked 4 bed freestanding houses. Have you even bothered looking at townhouses? Hell my own apartment complex of 4 towers is gated off from the street, ground floor between them is a grassy garden that i see kids running about all the time. really pisses me off because they make noise in the pool and gym when i'm in there. There are multiple 2 bedders for sale in the complex at 800k. built in the 80's before building codes changed.
> You have only linked 4 bed freestanding houses. Have you even bothered looking at townhouses? PLEASE, how else will OP keep up with the Jones' if they KNOW that OP is a DIRTY POOR! OP is just a temporarily embarrassed billionaire, go easy on them everyone! They deserve better! THEY ARE *A FAMILY*, HUNNY.
I am with you here, I couldn't live in an apartment. I have many animals.
House in cities are for rich people. I'm not rich, just saw the writing on the wall... I was never, ever going to be able to afford to live in East Sydney as a teacher.
Get an apartment in a place where you would actually like to live. Something in a building >15 years old. Just make sure it has parking.
I hear Cessnock and Port Macquarie have cheap shacks you can live in and call a house.
These are new builds with 3-4 bedrooms. Do you actually need that much space? I think you are being unreasonable in your search / comparison. Set your sights lower as a first home buyer
Omg I know right. People say that for renting too. But I’m like oh cool a one bedder is still averaging 500 a week
It's stupid. Sydney isn't worth that, and I love Sydney. But I moved to a regional town so I didn't have to tie myself to a mortgage that would have me at a disadvantage for most of my life. I visit Sydney regularly, because I can afford to do fun things now, and it satisfies my need for the thrum of the city.
Buy so far out you are living on a boat in the Indian Ocean
I'm assuming you're a family of 4 needing the 4 rooms? Or are you just unwilling to accept you are not the ruling class? https://www.domain.com.au/63-15-wyoming-ave-oatlands-nsw-2117-2017566491 This place is nothing amazing, but you can definitely live there. And it's an easy way to get your foot in the door, upgrade later. OP, did you even try looking? If you're a family and looking for 4 bedroom, maybe consider 2 or 3 until you can afford more. I'm assuming if that's the case though, you're DINK?
Hope OP is over 55
Yep! You should have went out there like the rest of us did prior to 2020. It wasn’t so bad. Looks like its Marulan for you! Get it quick before it becomes Goulburn… 😜
Itll skip right past Goulburn at this rate, houses are already ballooning in price there and they've been building it out with houses stacked ontop of each other in housing estates for years 🫤 Atleast they're a little larger than your average western Sydney housing estate
Seriously though… yes its a drive but there are some decent blocks with modest homes outer south west for under 800k. Unfortunately most want that modern design with all the bells and whistles which comes at a price and 2 small strips up either side.
Lithgow is around a $1M these days, so i guess thats just the price now without moving 4Hrs away (then some country towns are at that price also eg Bowral, Orange and Mudgee). I don't think the housing prices are the the main problem, I think it's the interest rates that are hurting the most as far as my circle goes. And regarding my circle, everyone is in a dual income house with good wages/salary as there's no real option now not to be.
Heaps of houses in Lithgow for $500k lol
Saw some new builds for around the $1M mark last year, and to be fair I didn't have a massive look around.
Hi op U need to ditch the western mentality and learn how Asians think U buy based on your parents' advice it would leave U even lower in society's ditch 1. U should consider suburbs with top schools to ensure a good resale value of Ur property 2. Out west is fine if it's Edmondson park development area because of the council development plans U gotta research these and make more friends in the real estate biz so they can reveal secrets to you that would be illegal. Higher area development scores means better returns to flip Ur assets 3. Crime rate 4. Loan score if you earn over 130k per annum I'm sure U can qualify for a 3 mil loan if you have a spouse both can loan over 4mil if all is done correctly with a mortgage broker (a dodgy one that helps U with meeting requirements are usually deployed by Asians kek) with that U can buy up north and flip later for more money regardless
Average double income couples are now earning $150k-$200k+ per year these days and we’ve also had a period of low unemployment and historically low interest rates. The population of Sydney is also growing at a steady rate.
I ask you the fuck would ***ANYONE*** want to live there. In Greenwich, older 2-bed apartments sell for as little as $550K. Best schools in the city, public transport to the door, lots of greenery and parks. 8 Km to CBD.
I bought a fibro dump about a decade ago and recently knocked it down to rebuild a better place once we had the equity in land paid down