How about deer park?

All,

A big hello to everyone in the forum. Just wanted to thank you to all for the valuable info provided. Great site.
Myself and a mate have decided to make the plunge into the property market recently. We were looking at buying a house and land package at Deer Park(walkable to the Vline station). We are both first home buyers. I qualify for a FH owners Grant where as my mate does not(not a permanent resident in Australia yet - on the way to becoming one). We were planning on living in it for the first year before renting it out.
I was wondering what your thoughts are on this.
Our budget is as follows: 430K, if a home and land package. $350K if its an established home (to make way for Stamp duty).
We are open to ideas and are looking to buy in Victoria(metro regions).
When renting out, i was thinking of renting out furnished individual rooms to maximise rental returns (i am aware this is hard work and am prepared to go through it initially)
We did find a home and land package through Devine at Central park, which was re-listed recently. Going for $422K turn key.

Your thoughts on this, pros and cons would be appreciated.

Thanks.

J
 
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All,
Myself and a mate have decided to make the plunge into the property market recently. We were looking at buying a house and land package at Deer Park(walkable to the Vline station). We are both first home buyers. I qualify for a FH owners Grant where as my mate does not(not a permanent resident in Australia yet - on the way to becoming one). We were planning on living in it for the first year before renting it out.
I was wondering what your thoughts are on this.
J

I did had a quick look using the search function at the top of the page and came across these two threads from the past, ... you might find the info useful.

http://www.somersoft.com/forums/showthread.php?t=25951&highlight=deer+park

http://www.somersoft.com/forums/showthread.php?t=55386&highlight=deer+park

Martin
 
Hi,

Deer Park area for investment looks pretty good: Its close to the city 18Kms (if going along ballarat road) or 21 Kms (if taking the western ring road). It has v Line station (hopefully that gets electrified in 10 years from now)...It has 2 shopping centers (Burnside shopping centre and the brimbank shopping center) and new shopping centre is coming up at Deerimut. Leasing each room looks like a good idea but need more info as to whether you are planning to buy in the old side of deer park or the new estates in derrimut.

Regards,
 
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