Hey all!
The time has come to buy my next IP. I have been approved for $400k.
My strategy is to buy and hold and look to build equity through renovations to the existing dwelling and possibly look at a subdivision down the track - so looking for something over 600sqm at least.
My question is what areas are worth looking into in my price range? My options are obviously limited to outer suburbs, which of them is the safest bet in everyone's opinion?
I have considered Frankston as an option, there appears to be some new developments happening there with the train station and the sale prices of late appear to be really picking up compared with the last couple of years.
A friend of mine suggested I look into the North and West - specifically Tullamarine, Roxburgh Park, Craigieburn and Broadmedows. I'm very unfamiliar with those markets though having grown up in the South East region.
I'm very interested to hear what people's suggestions are on the suburbs mentioned as well as any others that may spring to mind..
The time has come to buy my next IP. I have been approved for $400k.
My strategy is to buy and hold and look to build equity through renovations to the existing dwelling and possibly look at a subdivision down the track - so looking for something over 600sqm at least.
My question is what areas are worth looking into in my price range? My options are obviously limited to outer suburbs, which of them is the safest bet in everyone's opinion?
I have considered Frankston as an option, there appears to be some new developments happening there with the train station and the sale prices of late appear to be really picking up compared with the last couple of years.
A friend of mine suggested I look into the North and West - specifically Tullamarine, Roxburgh Park, Craigieburn and Broadmedows. I'm very unfamiliar with those markets though having grown up in the South East region.
I'm very interested to hear what people's suggestions are on the suburbs mentioned as well as any others that may spring to mind..