Adivce from the Gurus: Albanvale VIC (Melbourne west)
Hi everyone.
We bought our first IP on the weekend. In Albanvale.
We had been looking in Broadmeadows, Gladstone Park and Sunshine West since Apr/May and have had pre-approval. But just missed out on a number of occasions.
This house is of a better std than that of st albans and broadmeadows for our price range (290-300k)
We almost bought a run down 4 beda right near St. Albans station but after that we drove a little bit out of the way to a house in Albanvale.
For rental purposes it seems ideal.
We picked it up for $285,000, they were asking $295 and its hard to find anything under asking price in the lower end of the market atm.
We had a builder inspect it. All fine.
My concern is a little bit the area. As maybe we would have been better off buying in Deer Park.
It is right next to a medium sized plaza, and the suburb is only a little pocket, but sheltered from St Albans, as all the houses in the area are of a slightly better std (but smalled blocks).
Potential rental return of 5%.
Due to the fact of it being slighlty out of the way it has not boomed like sunshine, broadmeadows and the like, but averages 9% historically.
We borrowed $245,000 so it should cost us about $40-$50 p.w before agents fees and expenses to service the home.
i would have liked to have found something closer to a station but i am a recent uni graduate (accountant) and my partner is in the final year of her nursing degree, so we could not afford much more
Could the wise people of the forum please give me some adivce.
(Dont hang me though, be nice.)
Here is the property
http://www.realestate.com.au/cgi-bi...r=&cc=&c=54090083&s=vic&snf=rbs&tm=1253007115
or realestate.com id: 105974771
kind regards
David
Hi everyone.
We bought our first IP on the weekend. In Albanvale.
We had been looking in Broadmeadows, Gladstone Park and Sunshine West since Apr/May and have had pre-approval. But just missed out on a number of occasions.
This house is of a better std than that of st albans and broadmeadows for our price range (290-300k)
We almost bought a run down 4 beda right near St. Albans station but after that we drove a little bit out of the way to a house in Albanvale.
For rental purposes it seems ideal.
We picked it up for $285,000, they were asking $295 and its hard to find anything under asking price in the lower end of the market atm.
We had a builder inspect it. All fine.
My concern is a little bit the area. As maybe we would have been better off buying in Deer Park.
It is right next to a medium sized plaza, and the suburb is only a little pocket, but sheltered from St Albans, as all the houses in the area are of a slightly better std (but smalled blocks).
Potential rental return of 5%.
Due to the fact of it being slighlty out of the way it has not boomed like sunshine, broadmeadows and the like, but averages 9% historically.
We borrowed $245,000 so it should cost us about $40-$50 p.w before agents fees and expenses to service the home.
i would have liked to have found something closer to a station but i am a recent uni graduate (accountant) and my partner is in the final year of her nursing degree, so we could not afford much more
Could the wise people of the forum please give me some adivce.
(Dont hang me though, be nice.)
Here is the property
http://www.realestate.com.au/cgi-bi...r=&cc=&c=54090083&s=vic&snf=rbs&tm=1253007115
or realestate.com id: 105974771
kind regards
David
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