Hi everyone,
It's been great reading all the informative posts and fantastic to be able to access such a great resource. It's my first post and I'm a newbie, so please be gentle.
I'm a first home buyer looking at purchasing in SE Melbourne, with approx $500-600K budget.
My plan is to purchase a property as PPOR and live in for 12 months to take advantage of stamp duty savings as FHB and then lease it out afterwards as an investment property (while I rent someplace else) for negative-gearing/tax purposes.
The reason I am looking to buy in the SE Melbourne area is because both myself and my partner work in SE Melbourne. I have thought about inner west (e.g. Footscray), but the daily commute wouldn't be very feasible for the both of us.
Some options I am considering include...
(1) Purchase a detached/semidetached unit that has a smaller land component within approx 15km radius from CBD in a blue-chip suburb (e.g. Carnegie, Oakleigh, Bentleigh east)
(2) Purchase a detached/semidetached unit or house further out in a non-Blue-chip suburb that has a larger land component (e.g. Mulgrave, Clayton, Wantirna, Mitcham)
Any suggestions/opinions? Or areas you would highly recommend/consider? I would greatly appreciate it!
Thank you all in advance!
It's been great reading all the informative posts and fantastic to be able to access such a great resource. It's my first post and I'm a newbie, so please be gentle.
I'm a first home buyer looking at purchasing in SE Melbourne, with approx $500-600K budget.
My plan is to purchase a property as PPOR and live in for 12 months to take advantage of stamp duty savings as FHB and then lease it out afterwards as an investment property (while I rent someplace else) for negative-gearing/tax purposes.
The reason I am looking to buy in the SE Melbourne area is because both myself and my partner work in SE Melbourne. I have thought about inner west (e.g. Footscray), but the daily commute wouldn't be very feasible for the both of us.
Some options I am considering include...
(1) Purchase a detached/semidetached unit that has a smaller land component within approx 15km radius from CBD in a blue-chip suburb (e.g. Carnegie, Oakleigh, Bentleigh east)
(2) Purchase a detached/semidetached unit or house further out in a non-Blue-chip suburb that has a larger land component (e.g. Mulgrave, Clayton, Wantirna, Mitcham)
Any suggestions/opinions? Or areas you would highly recommend/consider? I would greatly appreciate it!
Thank you all in advance!