Hey guys,
I am going to start looking for a 2 bedroom, 1 carspace apartment as a PPOR for myself within the next few weeks.
The plan is to live in it for AT LEAST the first 6 months (to get my 6-year rule ticking), but then I'll probably hold it indefinitely beyond that and periodically borrow against any additional equity for further investment purposes - either by continuing to live in it, or by renting it out.
However... I really can't decide between Randwick and Alexandria.
My business is located in Eastgardens (Pagewood), so Randwick is a bit more convenient for work and seemingly less burdened by a potential over-supply problem in the future due to excess developments... but Alexandria is a bit closer to the city and the inner-west nightlife (Newtown, Glebe), and quite a bit cheaper, with higher current rental yields to boot.
Number crunch is as follows:
* Randwick = Median 2 bedroom unit price of $750k, gross rental yield of 4.02%
* Alexandria = Median 2 bedroom unit price of $680k, gross rental yield of 4.74%
My current property portfolio is all in Atlanta, so I am quite out of touch with the investment and lifestyle prospects of Sydney suburbs - would therefore appreciate any thoughts/insight from people who may know more about this than me!
Cheers.
I am going to start looking for a 2 bedroom, 1 carspace apartment as a PPOR for myself within the next few weeks.
The plan is to live in it for AT LEAST the first 6 months (to get my 6-year rule ticking), but then I'll probably hold it indefinitely beyond that and periodically borrow against any additional equity for further investment purposes - either by continuing to live in it, or by renting it out.
However... I really can't decide between Randwick and Alexandria.
My business is located in Eastgardens (Pagewood), so Randwick is a bit more convenient for work and seemingly less burdened by a potential over-supply problem in the future due to excess developments... but Alexandria is a bit closer to the city and the inner-west nightlife (Newtown, Glebe), and quite a bit cheaper, with higher current rental yields to boot.
Number crunch is as follows:
* Randwick = Median 2 bedroom unit price of $750k, gross rental yield of 4.02%
* Alexandria = Median 2 bedroom unit price of $680k, gross rental yield of 4.74%
My current property portfolio is all in Atlanta, so I am quite out of touch with the investment and lifestyle prospects of Sydney suburbs - would therefore appreciate any thoughts/insight from people who may know more about this than me!
Cheers.
Alexandria or Randwick? New PPOR (+long-term hold for inv purposes)
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