Where to buy under $300k
A positively geared property with high capital growth potential does not necessarily need to carry an astronomical price tag, an expert has said, with new market entrants able to land a home for under $300,000.
“Start small, but think big,” opined Sanjeev Sah, director of Investors Dream.
According to this seasoned property buyer, Aussies don’t need deep pockets to kick off their investment journey.
“You can literally start on $300,000, and it helps your mindset when you see good positive cash flow and that pushes you to grow further,” Mr Sah said.
As for where to start, Mr Sah believes property newcomers should cast their attention to the regions as Aussies continue to favour a spacious lifestyle over the hustle and bustle of city living.
“Regional property was the big winner this past year – as Australians increasingly make lifestyle changes following the pandemic,” Mr Sah explained.
“As a result, many regional property values are outpacing capital city gains, rents are up and vacancy rates are down.”
Mr Sah tipped that the bigger the land size, the higher the capital growth.
“Buy in areas where population growth is happening. Enough demand means people are buying, low vacancy rate, infrastructure development happening and you can’t go wrong,” he opined.
As for where to look, Mr Sah suggested a number of areas across regional NSW, Victoria and Queensland.
Currently, he has his gaze set on the City of Albury in NSW, particularly the suburbs of Lavington, North Albury and Springdale Heights.
In Victoria, the suburbs of Latrobe Valley strike him as promising, especially Churchill and Moe, while Queensland’s Gympie and Monkland boast favourable forecasts.
“Many successful investors with low capital start in regional – it’s a proven recipe for success provided it’s done well,” Mr Sah concluded.
For more about investing under $300,000, tune into Mr Sah’s journey here.
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