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Discussion in 'Real Estate' started by propertynoob, 27th Aug, 2011.

  1. propertynoob

    propertynoob New Member

    Joined:
    27th Aug, 2011
    Posts:
    4
    Location:
    Sydney, NSW
    Hi,
    I am new to property and this website. Currently looking for my first home/investment property.
    I went to a whole bunch of open homes today in Blacktown and came across one property that didn't quite make sense to me - 3 bedroom brick veneer house on flushcombe rd (close to great western highway) for $359 K ..this seems a bit cheap to me?
    I am wondering if there is a catch, I am yet to review the contract but will definately pay attention to sewerage diagrams and easements etc.

    The address of the property is 390 flushcombe rd blacktown ...can anyone comment on this area of blacktown and whether you think this will make a good investment property?

    390 Flushcombe Road, BLACKTOWN, 2148, New South Wales - homesales.com.au

    Thanks guys, appreciate any comments

    EDIT: I also understand there is a big block of housing commission between flushcombe rd and reservoir rd ...should i avoid flushcombe rd?
     
    Last edited by a moderator: 28th Aug, 2011
  2. propertynoob

    propertynoob New Member

    Joined:
    27th Aug, 2011
    Posts:
    4
    Location:
    Sydney, NSW
    I just obtained the contact of sale for this property and there are a few interesting points:
    1. There is an easement (sewer pipe) that runs approx 1m from the edge of the fence line on the side of the house ...is this a big issue?
    2. The house is currently tenanted to the NSW Land and Housing Corporation ..I take that this means that the house is currently being used for housing commission?
    3. The fixed term of the tenancy does not end until 03/08/12

    So I'm not so sure about the above, I'm pretty hesitant to purchase something tenanted for housing commission
     
  3. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Hi Property

    You need to do some more homework. Fluschcombe is a busy rd and this house has been on the market for a long time now. You can pick up a better house for a cheaper price even on nearby quieter streets. How long have you been looking?
     
  4. propertynoob

    propertynoob New Member

    Joined:
    27th Aug, 2011
    Posts:
    4
    Location:
    Sydney, NSW
    Thanks for the reply Jacque,

    I'm Greg by the way. I have only been looking for about a month so far - so far I've viewed about 20 properties.

    Thanks for your information regarding flushcombe rd - I didn't like the location too much, I just liked that the house was brick veneer and tiled etc.

    I'm also interested in a house on 5 duckmallois st blacktown (quite a high asking price of 390K+ though) ...from what I understand, this is in the better regarded south blacktown, is this correct?

    Does anyone have any views regarding brick veneer vs fibro/weatherboard houses? I was initially after a brick veneer house but they are a bit out of my price range.
     
  5. vanessa

    vanessa V J Tait & Associates

    Joined:
    15th Jun, 2011
    Posts:
    23
    Location:
    West Pennant Hills, Sydney, NSW
    Hi,

    I have ready your questions and Jacques replies. Jacque is on the money you need to do you research.

    I also recommend that when you do find something you are interested in, ask the agent immediately for a copy of the contract. Ask your conveyancer to have a quick look over it and check the property and explain to you what is being sold.

    I also suggest you look at the RP Data website and investigate the area in which you are looking to purchase. What is its democratic, how much housing commission is there, what are the rental returns etc, these all impact on your purchase and investment.

    Take your time with your research, if you are investing you will always find a property and if it is for your PPOR then you need to be sure you will be happy there.