My husband and I are wanting to buy our first IP. It's very exciting but I'm terrified of the risks as we are not young nor are we hugely rich, though largely debt-free. We were recommended one of the new developments in Craigieburn - Malcolm Creek, being developed by Stockland. However we live in Perth and had never even considered going interstate until this investment broker mentioned Craigieburn to us. We have absolutely nil knowledge of Melbourne (zero, nada) so are extremely nervous about buying there. There is a thread in this forum about Craigieburn, but that's about five years old. Most of the posts there said there were better places to buy property in, but I was wondering if that has changed and if the development there has made it a good investment option.
Otherwise we'll stick to Perth. Flat or not, at least we're very familiar with the market here and may decide to stomach out negative equity for a while for future growth.
Thank you very much for any help you can give.
Otherwise we'll stick to Perth. Flat or not, at least we're very familiar with the market here and may decide to stomach out negative equity for a while for future growth.
Thank you very much for any help you can give.