Is this property's price too high?

We are currently very keen on a 1 bedroom property in Brookvale (Sydney) they are selling off the plan between $435,000 and $440,000 and i'm not sure if this is a bit overpriced?

Features:
- 55m2 internal
- undercover patio + garden (4m by 6m)
- all the best fixtures and fittings
- separate laundry
- small block of 19
- close to transport/shops and parks
- 1 car pack + storage

have a look online at: www.milando.com.au

any help would be appreciated


Kate
 
Can I just explore this a bit?

Why are you keen Kate?

It isn't the numbers telling you that this is a good buy or you wouldn't be asking this question?

Are you buying a home or an IP?

If an IP then maybe skip on - njumbers are pretty important here.

If a home then I get the feeling you have fallen for this place emotionally. Nothing wrong with this mind you. But you will probably pay more for it than a hard nosed investor.

Developers/Agents love selling to home owners as they buy with their hearts not their brains.

Best of luck either way.
 
Hi Simon,

I'm buying it as a home however I still want it to be a good investment so that when we sell we can make a bit of a profit to put towards our next home.

I am keen on this property as because of its functional layout, location, small unit block, garden and mostly because of the space it offers as it is almost 100m2 in total.

Kate
 
Hi Kate,

Have a look on realestate.com.au and see what other similar new apts are selling for. What's the Body Corporate?

Regards JO
 
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