Am I right in this thinking ? Just buy something that ticks most of the important boxes

I have been buying property since my first one in 2003


I have looked at hundreds if. It not thousands of properties during that time


I can honestly say I could have bought any of them and made money on them - I have recorded list of all the properties I have looked at - I have just had a quick look at that list this weekend - not one of them has dropped in value - each and everyone of them has increased in value - usually by a lot


I admit some more than others - but I could have bought any of them and would have done alright now


In all honesty I wish I bought them all


I was looking at property in Sydney Newcastle and Melbourne - I wasn’t looking at mining towns or minor regional areas. Houses not units


It just goes to show I think I was wasting my time trying to find the perfect property and should have just bought more of any property in those locations that ticked most of the boxes

 

You could be buying more properties instead of wasting time on internet

 

Just killing time while waiting for the wife make her mind up deciding which colour sneaker to buy - just kill me now - we are ment to be at the beach swimming

 

I think I would be right in saying you could have bought anything and I mean LITERALLY ANYTHING in Sydney Melbourne or Newcastle

in the years I bought property

2003 2010 and 2014

and done alright today

to be honest I think if you add 2020 to the above list of years - I think that statement would probably still hold true

so stop wasting your time over thinking it just buy something and hold onto it

 

This!

Of course, you don't want to run out and pay too much, but that usually happens when chasing the perfect PPOR, not an investment. At some stage, you just have to buy something, or be left behind.

 

Over time, you are better off buying a pretty good property, compared to not being able to find the perfect property.

 

Certainly true in regards to setting a too tight budget in a rising market

 

My statement is also correct for any date further back in time

1990 ; 1980 ; 1970

as long as you are willing to hold property for 10 yr - you should be ok - in the Sydney Newcastle and Melbourne markets - that is

but would my statement apply to other markets like Perth or Darwin or Adelaide or Brisbane /Gold Coast - which are markets I’m not familiar with

 

Good thread. It sounds like everything you are considering has solid demand compared to supply. That's the secret. Simply houses in in-demand locations. Others can do well too, but these are solid.

 

Yep!

I've had property all over this country. In the City as well as regional properties. They all go up. Not all at once, and you get movement at different times depending on the area, but I've not bought one property that hasn't had significant CG.

In fact I've got a recent thread here: $1,000,000 in 4 years

This is in the Gold Coast.

 

I’m actually sitting in the Southport surf life saving club bistro overlooking the beach with a cold beer while typing this - it’s gorgeous here

I really want to retire up here and I’m currently looking at getting a property up here

Skater - do you mind if I pick your brain at some point to find out where there best spots are to look at ?

 

Only a few criteria you need to look at:

- Sydney and Melbourne closest to the CBD you can afford, largest land component you can afford, the house...? Just rentable will do. More rooms are better.
- School zones. Look for a place the public schools are good, even better if there is a big Asian (Chinese)/Indian population.
- Close to public transport, train stations. But good bus/tram routes is good too.
- Buy the worst house in the street (undeveloped/not yet subdivided) with your neighbours already built their mansions.

 

yes - I agree those are good points to tick off - and it will definitely help with capital growth

but in all honesty you could have bought literally anything - and I mean anything- the worst house on the worst street in the worst suburb , fronting onto a busy road , backing onto a busy train line , with high voltage power lines crossing over the property and under a flight path - in the Sydney market 10 yrs ago and you would be better off today and wish you bought 10 of them

 

Checks thread title...

 

I wouldn't over think it, with enough time everything goes up in nominal terms.... wages, commodores, property you name it.

It ought only bring doubt if you believe you could have put the money to better use elsewhere of which I'm sure most of us have our own example or two.

 

Haha, well, you can if you like, but I'm only a newbie to the area. You'd be best talking to @Player or @Poppy or @NedKelly who have been here a lot longer than me.

But you are right, it's gorgeous here, and there's always something to do. I'm in Burleigh Waters, which is lovely.

 

For a CG perspective, true. However if it's a PPOR, most of them would not very enjoyable to live in at all!

 

4 Years ago my brother and his GF were looking for a house and they wanted the perfect house. After a year of no luck he started reducing his standards but she wouldnt.

With every year that passed the standard they could afford dropped but her expectation didnt.

4 years later they are still renting and now they are so behind the market financially that they have no hope of getting anywhere near where they wanted to be.

 

Ah, but when your income is limited, if you actually want to own something, sometimes you just have to go with whatever you can afford. You can upgrade later.

BTW, you wouldn't have wanted to see our first PPOR. It was a nightmare.