Sydney house prices: Edward says his parents’ property advice doesn’t work any more

chats to a recent home buyer about where they bought and why – as well as the practical details, such as how much the property cost, if they got what they wanted, and just how hard the process was – to give readers a taste ofMy passion and interest in investment property stemmed from the teachings of my parents as I observed how they gradually built a portfolio of investment properties over the years to ensure a comfortable retirement, as well as to maintain streams of income.

I bought a property in 2023 when interest rates were still going up. But my previous properties, which I bought during the low-rate period between 2021 and 2023, were positively geared, and I was consistently saving 80 per cent of my income, so I managed to save close to $192,000 towards the next home.The property I initially had an interest in was a great buy because of the huge land size and with dual occupancy .

My rationale for buying the property was due to the vendor agreeing to sell the property for the lower price guide and it being comparatively good value for money compared to other properties listed in the area at the time.

Source: News Formal (newsformal.com)

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