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Hi Navid,
I'm not sure if you've used telescopes before but many people have unrealistic expectations of what they're going to see. So, at the risk of sounding negative I'm going to give you a reality check on a few things.
First, inner west Sydney has lots of light pollution so forget galaxies. Even from a dark site I don't think you'd say they have a wow factor, especially for kids. In fact, I'd say the only thing likely to make them say wow is the Moon, and possibly Saturn's rings.
Stars and globular clusters are ok from the city if you know what to look for but again, I wouldn't say there's a big wow factor for a beginner.
Also, if your balcony faces south east you'll be able to see the Moon and planets rising in the east but they'll be out of sight when they're at their highest, which is north (I have the same problem from my balcony).
Buying used will save you a lot of money but electronics can be touchy so if you want something that will find objects automatically there's always the risk that it can die on you.
There are a lot of other variables so it can be hard to make a good decision. Many of us have bought things that didn't work out as expected!
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