With investors taking a lot of interest in Sydney, finding a home can be quite easy. That is, if you’re not on a budget, which happens to be a very big IF. Those looking for something under $500,000 are in for a tough search within the housing market.
Despite the increased listings, many of the houses within the middle-ring suburbs don’t really fit that price qualification, and when they do, the property might not be investment-grade in quality. Thus, many prospective homeowners are moving towards the outer ring to have a chance at getting good quality homes well within the $500,000 mark.
Tough, however, isn’t impossible. After some hard work and thorough research, here’s a list of properties in Sydney that are ideal for first-time home buyers who are working within that $500,000 budget.
Recently Refurbished Unit in Granville – $420,000 to $460,000
8/84 Pitt Street, Granville NSW 2142
Boasting a fringe location within Parramatta City, this unit is situated in a way that’s ideal for any homeowner. The place is just 15 minutes away from the railway station and has buses passing by its doorstep regularly. It’s also close to Merryland’s vibrant shopping district, which includes the Westfield Shoppingtown, Stockland Mall, and more.
Outside, the unit is kept secure within a well-maintained block through 24/7 intercom and video security features. Inside is a newly renovated one-bedroom home that offers a spacious lounge and dining area as well as a double-sized master bedroom which comes with built-in wardrobes and soundproof windows. The bathroom comes with a separate bathtub and shower. There is yet another toilet located within the unit’s internal laundry area. Finally, the modern gas kitchen comes fully equipped with brand new appliances.
Modern Studio Unit along Chelsea St. – $449,000
20/12-16 Chelsea St., Redfern
Close to transportation stops and shopping areas, Chelsea St. is one place that’s sought after by homeowners for its convenient location. The 25 square meter studio unit would be nearby Bourke and Chelsea streets, making the price quite reasonable considering how hard properties like these are to find.
This one-bathroom studio unit comes with an intercom, built-in wardrobes, and a dishwasher. There’s also a separate kitchen and bathroom, both boasting a modern design. The bright and airy laundry facility is also a plus. Worthy of note is the fact that this property is very pet friendly, so pet owners looking for a new place will find this quite the opportunity.
Harbourside Pad by Elizabeth Bay Road – $415,000
1/43 Elizabeth Bay Road, Elizabeth Bay NSW 2011
The fact that this property has a lease value of $400 per week (5% gross rental yield) already says a lot about the worth of this one-bathroom studio unit along Elizabeth Bay Road. Aside from being close to the harbour and the famous Scotforth landmark, those who live here will find themselves very close to local points of interests. Local shops, cafes, and restaurants are within view by the doorstep.
The unit’s convenient location is only matched by its modern interior. Inside is an open plan kitchen for those looking to maximize space as well as the stainless steel appliances that come with it. The bathroom, on the other hand, is the product of elegant design touched with chrome finishes all over. Finally, there’s a reasonable large amount of storage space on split levels for someone who wishes to live in a studio unit just a bit above a $400,000 budget.
Villa with 3-Bedrooms in Meacher Street – $449,000 – $469,000
5/13 Meacher Street, Mount Druitt
For those who are looking for a bit more space and willing to move out west this beautiful 3-bedroom villa has so much to offer for anyone looking to buy it for less than $500,000. For one thing, it’s within walking distance from the Mount Druitt Station and some bus stops. Equally nearby are the local schools and the Westfield shopping district.
Fitted with fresh paint and some new appliances, the place looks very brand new. Worthy of note is the fact that the villa’s three bedrooms all come with built-in mirrored robes. Along with the bedroom, the open plan living and dining areas are also freshly painted and fitted with floating floorboards. The lounge also comes with a gas heating outlet. There is also a relatively new back pergola where guests can be entertained. The bathroom is freshly renovated and benefits from the villa’s instantaneous gas hot water system. Meanwhile, the kitchen comes with a brand new oven that allows for gas cooking.
Newly Renovated Studio Apartment in Dee Why – $469,000
5/14 Grafton Crescent, Dee Why
Aside from being close to local shops and transportation hubs, this newly renovated studio unit offers a convenient location that’s but a few moments away from the beach. This 49 square meter unit boasts a large open plan living area that’s completely tiled, a newly renovated kitchen that comes with its own bar, and a bathroom that has laundry facilities. Outside is a balcony and as well as a parking space, making it ideal for those who will move in with a vehicle.
So if you’re looking for a nice place within Sydney that’s friendly to those first-time buyers working with a $500,000 budget, the properties above will be great to start with. Home loans start as low as 4.20% for those looking for help in financing their purchase.