There seems to be a common theme- a lot (not all) of people who have bought 450k+ houses bought other properties first when property was more affordable. People looking to enter the property market now don't have that luxury
Yep- if I want to buy, I will not be calling Sydney home. Add to the already impossible task- I am a single mum. In 2014- I plan to move rural and build up my income and buy where it's much cheaper.
Lucky my man owned his place in the city ...we sold it (just under $700 000)..moved about 45 min from city to a bigger place bought for just under $500 000..
no idea how people would get into property now..unless making over $200 000 year..
Janesmum, BigRedV and Boobycino - parts of Mount Druitt aren't that bad. We purchased our place in one of the better areas for $xxxx at auction. While it does need a bit of work, the frame is in very good condition considering it is 40 years old, it was liveable from the day we moved in.
The general area is very well placed being 5-10 minutes from the M4, M7, Great Western Highway. 20 mins from Penrith, Blacktown, and the Hawkesbury, we also have good trains and buses. In the 5.5 years we have lived in the area, the median house price has gone from approx $180,000 to approx $250,000. Not all suburbs in the area are like this, but it isn't that bad a place to live, most areas are quite nice.
Both my husband and I are educated, we just couldn't justify spending double or triple what we did and get less than we have.
Last edited by lolly137; 28-03-2012 at 19:41.
Lolly - I grew up in Blackett and I'm a teacher in the area. I don't want to live there again and it's not a place I want my children to grow up.
There are a lot of nice people who live there, and who came from there. I have loads of friends and family there, but it's not for me. If I ever moved back to the western suburbs, I'd choose St Clair or somewhere like that, but I can't see that happening as I love living close to the beach and city.
I'm not in Sydney. But just on the issue of only wanting to live in a nice area. I live in a disadvantaged part of WA. Outside the city. A few of us on bubhub live around there. Yes, there is a lot of social issues. poverty. Crime etc.. But tbh I don't believe it is a drama at all. My mum is a teacher here and wouldn't want to teach anywhere else. A strong sense of community. Everyone knows everyone. Maybe its because I grew up seeing it as normal but I don't believe my children are at any disadvantage here. I'd rather get in the real estate market and raise my kids for 10 or so years in a "bad" area than rent somewhere "better" to protect my kids from seeing the rougher side of life. Most people I know have gone on and done well in their lives despite the area. Two have gone on to be journalists, others are teachers, nurses.. Even one studying medicine.. Its the kind of family you raise your kids in that makes the biggest difference.. In my opinion..
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DH and I bought our house for $470k (we had a $50k deposit) - it was the "worst house on the best street" and then spent another $50k renovating. We are both on 6 figure salaries so it was very affordable for us.
Prior to buying we rented an apartment in Bondi for 4 years and when we decided we wanted to buy, we had to move out of the area because we wanted a house and could not fathom spending $600k+ on a unit with no land!
DH grew up in Wollongong so we decided to buy a house half way between Sydney and Wollongong and commute to the city each day for work (we are both full time professionals) and bought a 3 bedroom house in a lovely leafy beach side suburb. It was the best decision we have ever made as we managed to get a good sized block of land, a decent house (albeit it needed a lot of work) in a friendly family focused neighborhood.
Last edited by FutureMa; 16-12-2011 at 09:54.
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