buying a house

[Anne]

Does anyone know if you can buy a house for around $200,000 in the O'Sullivan Beach area or surrounding districts.

[snifter]

Hello and welcome to the forum.

 

I'd take a look at realestate.com.au and see what property is priced at and also what it has sold at in recent times. That should give you an indication.

[Tamara (Homes Down Under)]

Does anyone know if you can buy a house for around $200,000 in the O'Sullivan Beach area or surrounding districts.

 

There was a time a few years ago when properties were selling in the region of $200,000 to $220.000 in this suburb. You could also purchase property in the Christie Downs area for the same amount.

The cheaper property days seem to have ended with investors snapping up the lower priced properties and renting them out for a comparatively good return. The occasional property does still appear but not for long especially in the mid $250,000 range.

 

The only properties that I have seen around this price in the o Sullivan, Christie Downs, Noarlunga Downs and Hackam West areas are the properties that are trust houses that are being sold to low income families. You do get a few advertised on the real estate sites but they have a criteria attached to their sale that you have to meet before you can apply for them.

My son is doing an apprenticeship and is a low income earner. It would make sense for him to purchase rather than pay rent but it's so difficult to find anything within his price range.

There are ways around this problem but it would depend upon parents using their home and acting as a guarantor for example.

If the home is purchased as an investment property the lenders will allow the anticipated rental income to count as income in the calculation for affordability.

[Anne]

Thanks for your reply. The position that we are in is that we are in a retirement village and want out of it so little money available.

[chrisda]

There are units available in the Christies Beach area in the low 200's. Two bedrooms and carport / garage. Some parts of OSullivans are a bit sus!

[Anne]

Thanks for that Chrisda will see if I can find them

[Tamara (Homes Down Under)]

There are units available in the Christies Beach area in the low 200's. Two bedrooms and carport / garage. Some parts of OSullivans are a bit sus!

 

That's right. I have looked at a couple of cluster type units in Christies and one in Port Noarlunga...with my son. They were all below $240,000. The one in Port Noarlunga was a group of 6 and it was $239,000.

[Anne]

Yes I have seen those but my top price is $200,000 so I am struggling a bit but thanks for all the info

[Toni]

Keep looking Anne - you don't know what might come up and if you don't need something too large then you might be ok. There seems to be a new listing for two ground floor apartments at Christies Beach which have just come up for $205,000. I don't think we are allowed to post links otherwise I would put it on here.

[snifter]

Keep looking Anne - you don't know what might come up and if you don't need something too large then you might be ok. There seems to be a new listing for two ground floor apartments at Christies Beach which have just come up for $205,000. I don't think we are allowed to post links otherwise I would put it on here.

 

You are welcome to the post the link here.

 

I went and found the property, guessing its this one

 

http://www.realestate.com.au/property-unit-sa-christies+beach-119953981

 

ETA - I found this one listed in Aldinga Beach for the price range also

 

http://www.realestate.com.au/property-unit-sa-aldinga+beach-119492627

[Anne]

Keep looking Anne - you don't know what might come up and if you don't need something too large then you might be ok. There seems to be a new listing for two ground floor apartments at Christies Beach which have just come up for $205,000. I don't think we are allowed to post links otherwise I would put it on here.

 

Thank you so much everyone that has tried to help me with this. I have just found out that I am legible for the affordable homes scheme so I am hoping this one will work out for us.Anne.

[sidestep]

Which retirement village (if you don't mind me asking)?

[Tamara (Homes Down Under)]

Thank you so much everyone that has tried to help me with this. I have just found out that I am legible for the affordable homes scheme so I am hoping this one will work out for us.Anne.

 

That's great!

There are quite a few properties in different suburbs that are advertised under this scheme. Best of luck...

[Anne]

That's great!

There are quite a few properties in different suburbs that are advertised under this scheme. Best of luck...

 

Thank you Anne