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As my position is the same as OP, I'm sure s/he wouldn't mind me asking this. Would you have any recommended suburbs for the same price range ($300,000)? I am considering 2BR apartment or townhouse in a suburb with better infrastructure (train line), since vacancy is much lower.

I am just a first home buyer so I lack experience but I am in the same boat as you. I've just signed a land contract in Truganina, but seriously considering to pull out (cooling off period until Wednesday). I've done a lot of research in the area and there have been major bank valuation...