Hi all,
After looking around for a house for some time, we have come across a OTP 3 BR single garage duplex at Parkbridge, Middleton Grange.
Land size: 351 square m
Living area: 124 square m
Price: $408,900
Construction has started and is due to complete in April 2013. It is Torrens title and have a small community overlay. The community levy is $90/quarter.
The builder is Mirvac.
I have read the previous thread about OTP in Camperdown listing the risks associated with such purchase.
Our problem is, we want to take the advantage of FHOG and stamp duty exemption but also want to keep the budget low around $400k. I have been looking for a property for some time now but cannot find something new within this budget.
The advantages of the above property as I understand:
-3BR duplex on own land. No strata control
-It is within our budget ($400k)
-Better than unit as you get your own backyard.
One disadvantage is that it backs the M7. The property in question is on Hemsworth Ave in Middleton grange.
We will use the property as our primary residence for at least 8-10 years.
Please advice is it a good purchase? What can be the negatives in this scenario?
If this is not worth buying then what options can be there for a first home buyer with $400k budget?
After looking around for a house for some time, we have come across a OTP 3 BR single garage duplex at Parkbridge, Middleton Grange.
Land size: 351 square m
Living area: 124 square m
Price: $408,900
Construction has started and is due to complete in April 2013. It is Torrens title and have a small community overlay. The community levy is $90/quarter.
The builder is Mirvac.
I have read the previous thread about OTP in Camperdown listing the risks associated with such purchase.
Our problem is, we want to take the advantage of FHOG and stamp duty exemption but also want to keep the budget low around $400k. I have been looking for a property for some time now but cannot find something new within this budget.
The advantages of the above property as I understand:
-3BR duplex on own land. No strata control
-It is within our budget ($400k)
-Better than unit as you get your own backyard.
One disadvantage is that it backs the M7. The property in question is on Hemsworth Ave in Middleton grange.
We will use the property as our primary residence for at least 8-10 years.
Please advice is it a good purchase? What can be the negatives in this scenario?
If this is not worth buying then what options can be there for a first home buyer with $400k budget?
