New Studio/1br Inner Melbourne
- Thread starter LSM87
- Start date
Nothing wrong with lifestyle property in CBD however I would suggest at looking for your long term option. Not sure what your personal condition is, however I would expect you will need to upgrade at some point in time. When the time comes, would you be able to offload it quickly or would you be able to get your money back?
If you already know which is your 'dream suburb', maybe you could look at renting or sharing accomodation and save. Once you have enough deposit, then you could look at buying a place in your 'dream suburb' and rent it out for a while until you are ready to move. Just my 2 cents and again, it really depends on your personal situation
If you already know which is your 'dream suburb', maybe you could look at renting or sharing accomodation and save. Once you have enough deposit, then you could look at buying a place in your 'dream suburb' and rent it out for a while until you are ready to move. Just my 2 cents and again, it really depends on your personal situation
Banks wont lend 80% on these apartments because they're risky investments.
1) Pool of tenants is restricted to only single professionals or crazy couples.
2) Capital growth is lousy.
3) Banks may already be overexposed to apartments in that complex or postcode, so are adverse to lending more.
As others have suggested. Invest elsewhere and rent one. There is so much stock for rent at the moment in Docklands and Southbank.
1) Pool of tenants is restricted to only single professionals or crazy couples.
2) Capital growth is lousy.
3) Banks may already be overexposed to apartments in that complex or postcode, so are adverse to lending more.
As others have suggested. Invest elsewhere and rent one. There is so much stock for rent at the moment in Docklands and Southbank.
$250k in Melbourne is just "no". Put your money somewhere else where it'll work for you and rent where you want to live until you have more cash ($450k+).
Yield isn't fantastic but you could do worse than this for $250k: http://www.realestate.com.au/property-apartment-vic-altona-118797219
* 15km to CBD
* Short walk to train, shops, beach
* Off-street parking
Or even http://www.realestate.com.au/property-apartment-vic-footscray-117831123
