Newcastle Buyers Agent


Buying for University Student Children Part 3

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This is the final part of a three part series of articles I have written to give investors and parents of students attending the University of Newcastle. In Part One I covered getting yourself prepared before jumping into the property market. In Part Two I cover off on what options there are available for rental and where I would avoid buying in the current market.

This part I’m giving away where I would be looking at investing if I were looking for a property for my Uni student kids to live in.

Largely it will come down to budget and the type of property that you are looking to acquire. By type I mean is it torrens title (a house usually) or is it strata title (a villa, unit or townhouse).  Houses require more maintenance in most cases than units which is an important factor as it unlikely that the grounds are going to be maintained as well as what you would hope them to be. You can always pay someone else to do it however and this is often worth it.

The benefit of units are they can be purchased in locations where you may not be able to afford a house, require less maintenance and in some cases, may also become a place to retire to.

Presently there are a number of high rise or high density apartment buildings under construction in the CBD of Newcastle. Touted as being built to cater for the anticipated demand for accommodation near the new Inner City campus for the University of Newcastle. I would exercise caution when considering these buildings primarily for the fact that there are so many being built. Upon completion one building which is popular with investors is going to have over 200 apartments. I’m not sure where all the extra students are coming from but there is already an abundance of student accommodation throughout the city that investors are struggling to find tenants for.

My advice if your budget is up to $400,000 consider a house in these suburbs Wallsend or Shortland or a townhouse or unit in Waratah, Waratah West or Wallsend.

If your budget is between $400,000 to $500,000 consider areas like Mayfield, Islington, Hamilton, Waratah and Georgetown.

Should be able to stretch further, areas like Cooks Hill, Maryville, Wickham and Hamilton should definitely be on the radar.

The main reasons I have suggested these areas are a combination of lifestyle and investment. Wallsend and Shortland are further away from the CBD however both are well serviced by public transport. Waratah, Georgetown, Islington and Hamilton are almost in the absolute centre of Newcastle geographically. Meaning they are equidistant from shopping centres, beaches and of course the university.

Cooks Hill, Wickham and Maryville are on the fringe of the CBD (just) which mean in time they will be essentially part of the CBD as it moves westward.

Finally consideration should also be given to what your children intend to do after Uni. If they plan to stay in Newcastle, where are they likely to work. For example, if they are going to be working at John Hunter Hospital or The Mater, selecting a property a short distance from either of these would be wise rather being as close to the beach as possible.

If you need further advice, feel free to contact me direct on 0438502371 or by email help@newcastlebuyersagent.com.au

 

Buyer’s Biggest Mistakes

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Buying property is the most expensive purchase that most people will make. This is drummed into people’s heads all the time. However many are spending hundreds of thousands of dollars, often without carrying out some basic precautions. Especially with the advent of some clever marketing tactics by sales agents.

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Buying Conditions Improving

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APRA’s proposed relaxation of the home loan lending rules will help property buyers even more than today’s interest rate cut, says Real Estate Buyers Agents Association (REBAA) president Rich Harvey. Last month the Australian Prudential Regulation Authority (APRA) recommended a relaxation of the benchmark rate of 7 per cent to assess a borrower’s capacity to […]

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5 tax tips for Newcastle property investors

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Today we look at five tax tips every property investor should be aware of. Keep these in mind while investing and you’ll be on the road to saving a pretty penny or two. Remember, it’s always important to discuss tax advice with your accountant. Your personal accountant knows your individual circumstances and help maximise your […]

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A Few Things I Look For When Buying

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For some that might seem a little strange but once explained most tend to agree. Here are a few things I am looking for when buying a property before I got to inspect. 1. Street appeal – is it consistent with others in the area. If not it might be harder to resell or attract […]

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Purchasing Property Through Your SMSF

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A self-managed superannuation fund or SMSF is a trust that features a superannuation structure, yielding benefits upon retirement. An SMSF can have up to four members who also act as the trustees of the fund and can be utilized by members for their own specific investing needs. Investing in property through your SMSF is an […]

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Why Choose Newcastle Buyers Agent?

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Why would you choose Newcastle Buyers Agent to help you with your property search? I’ve been in the Newcastle area my whole life. I’ve worked in the property industry for over ten years in sales and as a buyers agent, and I’ve got an extensive business network which culminated in me being the Newcastle Business […]

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Buyers Agent Fees

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Most buyers agents will charge a retainer, and then they will charge a success fee. Some charge a percentage; some charge a flat fee. Flat fees can typically start at $10,000 for a purchase up to $600,000. Retainers can vary from $1,500 to $3,000 depending on the purchase price of the property. For that fee, […]

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Why Newcastle?

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  I’m Tiron. I’m a Newcastle based buyers agent. I’m here to give you a helping hand to get ahead in the Newcastle property market. If you’re looking for a home, investment or a small development, I’m going to be the one to get you there quicker and with less stress. I really enjoy the […]

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Where it Began

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When I was younger, my parents were looking for a property for their second home. We were moving from Mayfield into something a bit bigger for us kids to run around and kick a ball around. We went through probably about 100 different houses. I can’t remember them all but I remember going through so […]

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How to Choose a Buyer’s Agent

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Hi, I’m Tiron from Newcastle Buyers Agent and I wanted to give you a few tips on how to choose a buyers agent. Firstly, you need to make sure they’re an expert in their area. Are they born and bred in that location? How long have they worked in that area? When choosing a buyers […]

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Do Real Estate Sales Agents Like Buyers Agents?

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Hi, I’m Tiron from Newcastle Buyers Agent. A question I get asked quite a lot is, “Do real estate agents or real estate sales agents like buyers agents? And do they like working with buyers agents?” It is a funny question because some agents don’t. They don’t get it. They don’t get that a buyers […]

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Why get an Independent Building Inspection When Buying a House

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Hi, it’s Tiron from Newcastle Buyers Agent. I’d love you to check out these videos of my referral partners. If you’ve got any questions, please check out the comments below. I’m Michael Simons and I own Hunter Building Inspections. I do pre-sale and pre-purchase building and pest inspections. It’s important to get an independent building […]

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