Buying off the plan townhouse?

[Tom_86]

Im looking at an off the plan townhouse in the western suburbs of Melbourne. Theres one i have my eye on, its a 1 bedroom 1 bathroom around the $360,000 mark. My question is, is a townhouse around 10 sq meters much better than a unit in terms of growth over time?
Thanks in advance

 

[Tony3008]

100 square metres, I hope!

 

[srini]

Hi Tom,

Not sure which one is better. But, you might find it harder to get a bank loan for anything less than 50 sqm.

 

[The Y-man]

100 square metres, I hope!

Or was it 10 squares?

The Y-man

 

[Tom_86]

Yes 10 squares sorry for the confusion

 

[RightValue]

Yes 10 squares sorry for the confusion

One bedroom and one bathroom for 94 sqm?? (94 sqm is 10 squares)

I think you are including the parking space and the balconies in this size.

I valued a 3 bed one bath house the other day that was 90sqm plus 23 sqm single garage.

A bedroom is about 15 sqm, and a bathroom is about 6sqm .. must be a big living area.

$360k sounds like a lot for a 1 bedroom place... what do you expect the rental to be?

You can buy a 3 bed house on over 500sqm of land in Deer Park or St Albans for that price with a rental of about $300pw.

BTW if the property has a rental guarantee .. run away, run fast and run far.

cheers

RightValue