Hi property investor experts!
I'm new to the forums (found out about this through another poster on a different forum - thanks Lynchy ) and have been having some good reading the last few days.
Just as a bit of background - I'm currently renting a place with a friend in Melbourne's West (close to Sunshine/Albion) but will be evicted at the end of the year as the landlord has some relatives wanting to move in. Instead of looking for another rental property, I'm considering buying my first property (both as a residence but with the intention to share living with a few renters (my younger sister and her partner are wanting to move to Melbourne next year and have expressed an interest in moving in with me if I do buy my own place).
As this is my first time, I'm a bit unsure where to start and was looking for any assistance/advice/comments that might help a first time buyer and things to consider. I'm ideally looking for a place also somewhere in western Melbourne but other than that, I haven't done anything or spoken to anyone.
At this stage, I think my ideal budget might be around the $300-350k mark though I'm yet to do any formal budgeting or speak to a financial planner. I'm working full time professionally in the CBD and have no current debt (have paid off my uni fees).
In the meantime, I'll keep trawling the forum for more info or looking for similar threads to this one but if anyone has any suggestions or advice they'd like to share, I'd greatly appreciate it!
Cheers
I'm new to the forums (found out about this through another poster on a different forum - thanks Lynchy ) and have been having some good reading the last few days.
Just as a bit of background - I'm currently renting a place with a friend in Melbourne's West (close to Sunshine/Albion) but will be evicted at the end of the year as the landlord has some relatives wanting to move in. Instead of looking for another rental property, I'm considering buying my first property (both as a residence but with the intention to share living with a few renters (my younger sister and her partner are wanting to move to Melbourne next year and have expressed an interest in moving in with me if I do buy my own place).
As this is my first time, I'm a bit unsure where to start and was looking for any assistance/advice/comments that might help a first time buyer and things to consider. I'm ideally looking for a place also somewhere in western Melbourne but other than that, I haven't done anything or spoken to anyone.
At this stage, I think my ideal budget might be around the $300-350k mark though I'm yet to do any formal budgeting or speak to a financial planner. I'm working full time professionally in the CBD and have no current debt (have paid off my uni fees).
In the meantime, I'll keep trawling the forum for more info or looking for similar threads to this one but if anyone has any suggestions or advice they'd like to share, I'd greatly appreciate it!
Cheers