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What are your longer term plans. No good buying a place like that if you wish to get married in the next 5 years and you need the first home buyers grant to even buy the property.

Can you swing a cat in there? Dont you need to live in there to get the grant? Sounds like a hotel room. i reckon you are better off looking out St Kilda/Elwood or further down the bay than a ****ty 44m2 apartment.