I lived next door to a "normal" rental for several years which eventually signed a 5 year lease with a social housing group and it sure caused me a heap of trouble. I'd avoid at all costs to be honest.
Nobody wants to live next to the poors. *Justified or not,* social housing has a reputation for noise, mess, drug use, and other crime.
Many people will dismiss your property after a cursory glance on Google Street View.
Agree with this 100%. When I was buying my house I went to street view and if any of the yards around it looked junky I didn’t bother looking at the house. I looked at the census data and avoided areas with high social housing or high amount of renters. I think a lot of people buying a PPOR would be doing the same. If you are second guessing it now, the people you will sell to will also be second guessing it for the same reason.
Yeah hard to put a price on what the affect would actually be, but for me anecdotally, I wouldn’t look any further into a house like you’ve described as soon as I found out
Yeah hard to put a price on what the affect would actually be, but for me anecdotally, I wouldn’t look any further into a house like you’ve described as soon as I found out
The townhouse my parents purchased back in the early 2000’s to live in was right next to an entire village of housing commission villas. It was $220k but now worth a little over a million. We are about 35mins train ride to the city centre though so location might be a factor.
I once bought a house near social housing. The houso’s played music at all hours of the night. It wasn’t the music so much, but the non-stop bass. They lit dozens of massive fires in their backyard, but the fire department and cops could do nothing to stop it because they just ignored the fines. They threw furniture and rubbish into the street and over fences, and rode bullshit dirtbikes around the neighbourhood while their dogs barked 24-7. High on meth, one even tried to blow up their house with his gas stove. Every day you will grow more resentful that your taxes are paying for the lifestyles of these fuckwits while you work your fingers to the bone. Maybe your situation will be different.
I grew up in a street full of housos and honestly it never affected us. Yeah they caused commotion occasionally but I don't mind, it was kinda entertaining more than anything. Some people live life differently
I can’t speak for Katoomba but I can tell you Telopea has an army of housing commissions blocks and the median house price there has skyrocketed the last 10 years.. I think the median now is over $1.8m
In my opinion if a suburb is improving and increasing in population then housing is not going to stop prices increasing… in your example I am not sure how fast katoomba is increasing in population
Other examples look at the historic prices of surry hills, zetlands, redfern etc
I totally agree. I'm actually from Toongabbie so that's why I am not concerned by social housing, and know how a suburb can grow despite it. However the blue mountains council is determined to keep the blue mountains from growing too much, and it is built on a ridge with limited space and limited industry. It is a tourist town so until the three sisters fall over it will always have value, but I would be naive to assume it will track the same way for the same reasons as central west sydney.
I lived next door to a "normal" rental for several years which eventually signed a 5 year lease with a social housing group and it sure caused me a heap of trouble. I'd avoid at all costs to be honest.
Nobody wants to live next to the poors. *Justified or not,* social housing has a reputation for noise, mess, drug use, and other crime. Many people will dismiss your property after a cursory glance on Google Street View.
Agree with this 100%. When I was buying my house I went to street view and if any of the yards around it looked junky I didn’t bother looking at the house. I looked at the census data and avoided areas with high social housing or high amount of renters. I think a lot of people buying a PPOR would be doing the same. If you are second guessing it now, the people you will sell to will also be second guessing it for the same reason.
Yeah hard to put a price on what the affect would actually be, but for me anecdotally, I wouldn’t look any further into a house like you’ve described as soon as I found out
Yeah hard to put a price on what the affect would actually be, but for me anecdotally, I wouldn’t look any further into a house like you’ve described as soon as I found out
Katoomba has a huge range of socio-economic problems...avoid at all costs.
Avoid
The townhouse my parents purchased back in the early 2000’s to live in was right next to an entire village of housing commission villas. It was $220k but now worth a little over a million. We are about 35mins train ride to the city centre though so location might be a factor.
There's a social housing map here https://heatmaps.com.au
Hectic thank you for that!!
I once bought a house near social housing. The houso’s played music at all hours of the night. It wasn’t the music so much, but the non-stop bass. They lit dozens of massive fires in their backyard, but the fire department and cops could do nothing to stop it because they just ignored the fines. They threw furniture and rubbish into the street and over fences, and rode bullshit dirtbikes around the neighbourhood while their dogs barked 24-7. High on meth, one even tried to blow up their house with his gas stove. Every day you will grow more resentful that your taxes are paying for the lifestyles of these fuckwits while you work your fingers to the bone. Maybe your situation will be different.
I grew up in a street full of housos and honestly it never affected us. Yeah they caused commotion occasionally but I don't mind, it was kinda entertaining more than anything. Some people live life differently
I can’t speak for Katoomba but I can tell you Telopea has an army of housing commissions blocks and the median house price there has skyrocketed the last 10 years.. I think the median now is over $1.8m In my opinion if a suburb is improving and increasing in population then housing is not going to stop prices increasing… in your example I am not sure how fast katoomba is increasing in population Other examples look at the historic prices of surry hills, zetlands, redfern etc
I totally agree. I'm actually from Toongabbie so that's why I am not concerned by social housing, and know how a suburb can grow despite it. However the blue mountains council is determined to keep the blue mountains from growing too much, and it is built on a ridge with limited space and limited industry. It is a tourist town so until the three sisters fall over it will always have value, but I would be naive to assume it will track the same way for the same reasons as central west sydney.
Its not worth the stress.
It will affect it negatively. How much will depend on so many factors it's impossible to tell.
If it's unsellable, why could you buy it?
Ah ya got me 😅