Maidstone for an IP

What are peoples thoughts on Maidstone for an IP. The property would be an apartment, Does this area have good CG potential, similar to Footscray and surrounding western suburbs? I know it has highpoint and ballarat road, however i'm thinking its probably a bit too far from a train station (2km). Thoughts?
 
Great spot. Although trains a little lacking, well serviced with trams and buses. Will do well in the next few years like ascot vale and Kensington. Cheers
 
I think Maidstone will have good CG. I live just up the road in Sunhshine and a colleague lives in Maidstone, West Footscray station isn't that far and there are PLENTY of buses as well as trams in the area. Highpoint, Victoria Uni, and the west's cafe centre (Yarraville) all close by!
 
Bigtone,

Could you please expand on this - for example, would you be looking to renovate an old apartment, would you prefer an apartment over a house, would a large block of land with an old house be best etc? Maidstone and surrounding areas are on my radar, and given your property investment acumen, I am very interested in your view.

Cheers!
 
Hi,

Even I am interested in Maidstone.. I was looking at that area last year but could not afford a house in that area (prices have gone up a lot), hence I started searching nearby areas.

However the best I could afford in that area would be a 2 bedroom apt/unit.. Since I was looking for a house, had to give Maidstone a miss, but I would be interested in your ideas.

Whats your budget? type of property you are looking for? reno or long term hold?
 
Bigtone,

Could you please expand on this - for example, would you be looking to renovate an old apartment, would you prefer an apartment over a house, would a large block of land with an old house be best etc? Maidstone and surrounding areas are on my radar, and given your property investment acumen, I am very interested in your view.

Cheers!

Hi El caballo,


I have no preference between house or unit/apartment as long as price is right. Few rules about what type of apartment, number of units, carparking etc but as a general rule happy to buy units and apartments. My experience is they have grown just as well if not better than houses in many areas.

I am though against new houses and apartments, very very rarely would i consider buying one and have only ever bought three . Ultimately a property becomes only land value so the higher the land content at the beginning the higher the growth should be long term. The newer the property the lower the land content tends to be as much value is in the actual building.

BTW i don't subscribe to the no land content in apartments, there certainly is based on its location and the ability it provides to get into an area that would otherwise be unattainable for many. That creates a land content and has a real value.

Cheers and good luck

BT
 
Hi El caballo,


I have no preference between house or unit/apartment as long as price is right. Few rules about what type of apartment, number of units, carparking etc but as a general rule happy to buy units and apartments. My experience is they have grown just as well if not better than houses in many areas.

I am though against new houses and apartments, very very rarely would i consider buying one and have only ever bought three . Ultimately a property becomes only land value so the higher the land content at the beginning the higher the growth should be long term. The newer the property the lower the land content tends to be as much value is in the actual building.

BTW i don't subscribe to the no land content in apartments, there certainly is based on its location and the ability it provides to get into an area that would otherwise be unattainable for many. That creates a land content and has a real value.

Cheers and good luck

BT

Great stuff Bigtone - most appreciated!
 
Hi Tom,

I brought in Maidstone 3 years ago now for its fairly central location. I find that having to travel to all areas of melbourne, Maidstone is perfectly situated.
There are regular buses that run to Totenham and West Footscray station, with trams trams also in the area.

I have noticed lots of town house being knocked up in the area, so i belieiwill only get more sought after. Also, being a very small suburb makes it a little different/exclusive than other surrounding areas.

I might be being bias, but i think its sharp price rise is valid. :)
 
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