Hi all,
Firstly, thanks in advance for any advice. First post here and I am still surprised at how much info is freely given.
And secondly...
1. Will be our first purchase: PPOR in Melbourne. Want to live for 3-5 years and use as IP later. Doesn't have to be internally flash as I'm an architect with carpenter family. Less flash, the better, IMO.
2. Suburbs: Inner city, ideally (not so keen on CBD, generally). Sth Yarra, Richmond, as far south as Ripponlea, Elwood, North Melb (much more so than Kensington, Flem), Fitzroy North, Brunswick (less so) and surrounding suburbs. Will go further out if essential.
4. We have budgeted for 385K (110-115,000 of which we already have) based on what we see as serviceable. Have shared income of 90-100K, before tax. I have just started new job, and wife has been pre-approved for 370.
Can we expect a 2-bedder (ideally with lockup, but parking is highly desirable from an investment point of view), ideally on 1st floor and up, for our budget, in these areas?
Any help would be very, very appreciated. We have a place we are keen on bidding on very soon and really want to know what we should expect.
Thanks again, Adam.
Firstly, thanks in advance for any advice. First post here and I am still surprised at how much info is freely given.
And secondly...
1. Will be our first purchase: PPOR in Melbourne. Want to live for 3-5 years and use as IP later. Doesn't have to be internally flash as I'm an architect with carpenter family. Less flash, the better, IMO.
2. Suburbs: Inner city, ideally (not so keen on CBD, generally). Sth Yarra, Richmond, as far south as Ripponlea, Elwood, North Melb (much more so than Kensington, Flem), Fitzroy North, Brunswick (less so) and surrounding suburbs. Will go further out if essential.
4. We have budgeted for 385K (110-115,000 of which we already have) based on what we see as serviceable. Have shared income of 90-100K, before tax. I have just started new job, and wife has been pre-approved for 370.
Can we expect a 2-bedder (ideally with lockup, but parking is highly desirable from an investment point of view), ideally on 1st floor and up, for our budget, in these areas?
Any help would be very, very appreciated. We have a place we are keen on bidding on very soon and really want to know what we should expect.
Thanks again, Adam.
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