Hi guys,
I'm a first home buyer on the lookout for my first PPOR and have been lurking on these forums for a month now. Lots learnt, lots still to learn.
I have been in a dilemma for over 3 months now and have been trying to answer these questions in my head for a while, but just can't get an answer to them. It will be very helpful if you experienced chaps could guide me somewhere.
I have seen a lot of threads and posts with people recommending against buying OTP properties. I have been looking at this townhouse development with a 3/2.5/2 config priced at $500k.
Any help will be much appreciated.
Thanks!
I'm a first home buyer on the lookout for my first PPOR and have been lurking on these forums for a month now. Lots learnt, lots still to learn.
I have been in a dilemma for over 3 months now and have been trying to answer these questions in my head for a while, but just can't get an answer to them. It will be very helpful if you experienced chaps could guide me somewhere.
I have seen a lot of threads and posts with people recommending against buying OTP properties. I have been looking at this townhouse development with a 3/2.5/2 config priced at $500k.
- What do you think of Everton Park as a suburb? I have been there a few times and I really like the feel of it. Nice city views from quite a few points, <8kms from the city. Buses can be a pain in the morning peak hour but the nearest train station is Mitchelton which is 1.3km from these townhouses.
Do you think this suburb has good potential to grow? To be honest, I really like the suburb and think it could be a great one in years to come.
- What do you think of the $500k price tag for this townhouse? The internal area is 174 sqm (+ 88 external) with a double garage and all nice inclusions (ducted aircon, stone bench tops, Bosch appliances etc). I have seen established townhouses with similar config (but single garage) going for between $440-470k with $500k only for 4 bedroom townhouses. They are supposed to complete by early next year.
I understand there is a premium for new properties and I prefer newer properties. Since I will be getting 15k grant, I am happy to pay a premium of around 20-25k for a new property. Do you think I am making sense or am I completely stupid?
- Do you think it is stupid to buy a townhouse for $500k? Do you think buying a house for this much is a much better idea? This townhouse has a BC of $3100. I hate BC fees but I am also a bit scared of handling an entire house with its maintenance issues. A townhouse is going to be much simpler for me to handle. Keep in mind, the houses I have looked at below $500k are mainly old ones and I'd rather get a newer property than an old.
Any help will be much appreciated.
Thanks!