Hey guys,
Want to purchase an ip for the $400k, thinking an apartment in the preston area at this stage?
Any other ideas?
Want to purchase an ip for the $400k, thinking an apartment in the preston area at this stage?
Any other ideas?
Where and what in Melb for $400k?
- Thread starter younginvestor
- Start date
Living? renting? One bedder? 2 bedder?
Preston is just as good place as any...
You can buy an apartment in toorak for 400k remember..
Preston is just as good place as any...
You can buy an apartment in toorak for 400k remember..
Just out of curiousity;
- what's defining your purchase price? and,
- how do you plan to make a profit out of the eventual purchase?
I must agree with exstatic in that an appartment in North Melbourne,Kensington or Flemington will show great growth in the coming years, especially given that these suburbs are so close to the CBD.
The recent edition of the Investment Property Magazine also highlights this area for good growth, especially North Melbourne given that it is so undervalued when compared to other inner city locations within the same radius to the CBD.
Good luck
The recent edition of the Investment Property Magazine also highlights this area for good growth, especially North Melbourne given that it is so undervalued when compared to other inner city locations within the same radius to the CBD.
Good luck
i would go southbank, south yarra, or south melbourne. good rental returns therefore not much outlays.
It might be different if you need negative gearing.
You could also consider new home and land 20k - 30k from CBD in West.
You can get full turnkey packages from $330k with decent rental returns ... and you only pay stamp duty on land and get excellent depreciation / building write-off ... and generally no apartment type body corporate fees
Melb builders take 14 or so weeks from start to finish so as long as land is titled it is pretty fast and minimal holding costs during construction
Just another option worth considering
You can get full turnkey packages from $330k with decent rental returns ... and you only pay stamp duty on land and get excellent depreciation / building write-off ... and generally no apartment type body corporate fees
Melb builders take 14 or so weeks from start to finish so as long as land is titled it is pretty fast and minimal holding costs during construction
Just another option worth considering
Who is this so called expert?
In case you're wondering on N Melbourne:
http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=64605476&s=vic&tm=1256175230
Never guess their target market.
http://www.realestate.com.au/cgi-bi...t=&header=&cc=&c=64605476&s=vic&tm=1256175230
Never guess their target market.
I wouldn't personally buy an apartment in Preston (I would consider buying a house with decent land though). Obviously it comes down to affordability, but you really (and I stress really) need to know what is suitable for a particular suburb. I would only buy apartments/flats in blue chip suburbs (i.e. South Yarra, St Kilda, Elwood) or inner city (which is blue chip anyway) like Fitzroy North, Richmond, North Melbourne, Carlton etc. where the price jump from apartment to house is ten-fold.
Sticking to the $400k budget, and the apartment/flat property type, I would recommend North Melbourne and Fitzroy North. Who cares if it is run-down...it doesn't cost that much to do up an apartment/flat anyway!
JulieW, I like the sarcasm!!!
Someone who works at a respectable, multinational property conglomerate. No one who's made a public statement. Just a private chat with me.
Your expert must not have bought in North Melbourne when I did. My properties in North Melbourne have appreciated handsomely since I purchased them
Its funny how some threads get multiple comments despite the average question and despite the fact that the original poster has flown the koop. And yet others with thoughtful questions get no reply at all..
Pt Cook would set you back around $400k ... otherwise I believe there is land in Sunshine ... My question is why spend $500k for one when you can get two for $660k on estates with over 12% growth last year and average 9% past 10years?
Your expert must not have bought in North Melbourne when I did. My properties in North Melbourne have appreciated handsomely since I purchased them
The price of lettuce has gone up significantly too in the last 20 years. Just kidding
