Ferntree Gully

N

newbyinvestor

I'm not sure about Ferntree Gully.
Is a 2 bedroom unit near the station a better investment than a house a few K's away which can be sub divided down the track?
 
I'm biased, because my investment strategy relies on the second option you mention.

If it were me, I'd definately go down the sub-dividing path, even if you don't build/develop yourself, but you sell the the land with plans/permits. Houses that are subdividable in Boronia jumped from about 300k to 400k in the last 18 months or so, so get in quick at FTG.

Remember: Land appreicates in value while houses depreciate in value.

Good luck.
 
Depends what each is like. Depending on the type of unit/house they may rent close to the same amount when you compare the purchase price.

Right near FTG station there's some okay units that you'd get maybe $300pw, but then there's some really daggy ones that you'd struggle to get $260pw, same goes for houses.

Generally speaking, two incomes are always better than one, but the price to hold may outweigh these positives. Also, most tenants like a good sized back yard in a house, but not too big. So if you're looking at a fairly large block of land may I suggest including a gardener in the lease? It's not too expensive all in all, but may make the property more attractive for a young family until the time comes to subdivide. Allowing pets (once again if going the subdivision route) should also cause more interest and may give your property a little more edge when it comes to leasing - But make sure to include a pet clause in the lease.
 
I like FTG too,
I'd agree ..if I can get more land for the same $ then I'd go for that.

Am seeing quite a few subdivisions in Bayswater and Boronia now, which could be a option for you in future if you choose to...

But when you say 'few' k's away then a lot of variables come in place in order to determine a good investment. R you thinking Belgrave , Selby ?


G'Luck
K
 
K_Raheja said:
I like FTG too,
I'd agree ..if I can get more land for the same $ then I'd go for that.

Am seeing quite a few subdivisions in Bayswater and Boronia now, which could be a option for you in future if you choose to...

But when you say 'few' k's away then a lot of variables come in place in order to determine a good investment. R you thinking Belgrave , Selby ?


G'Luck
K
Click to expand...

I'm thinking Ferntree Gully. Tossing up between houses and units. Just seems the units are closer to the station etc
 
I've tripped over 2 units in a block of 4 . They are 2 bedroom nothing specials with single carports however in saying that they have tenants and return just over $2000 a month
I think $525,000 buys the pair Any opinions?
 
I have properties that side(Boronia) and with the interest rate hikes this area always seems to be hard hit in my experience.

With the outlook for property so negative...its best to wait and see especially in outer suburbs. Thats my thinking anyways...
 
traveller said:
I have properties that side(Boronia) and with the interest rate hikes this area always seems to be hard hit in my experience.

With the outlook for property so negative...its best to wait and see especially in outer suburbs. Thats my thinking anyways...
Click to expand...
would you include The Crescent in the slow side of Boronia?
 
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