Where Did U Buy Recently?
- Thread starter rodimus
- Start date
Croydon, 280k
Bought in Windsor (Melbourne). Why?
I want to live in Albert Park/Middle Park. I cannot afford to do so now, unless I liquidate all my other IP's. That's not part of the plan, so I decided that I needed to do a reno, to build equity quickly. Realistically, I may need to do this a couple of times, before I am ready to purchase PPOR in AP/MP.....
So, I literally looked at nearby suburbs and was looking for a period home in and around Prahran, but prices weren't cheap. This one came up, and the rest is history as they say.
Why this specific property though....
It was a deceased estate, needed plenty of cosmetic work, but structurally very sound. Renovated comparables were/still are selling between 35-50% more than I paid for. It still wasn't cheap still at a fraction over $600k, not including what I have/will have spent on it, once I am finished.
What I will have though, is a property I would never, ever sell. Of course I do say that about all my IP's, but this is a lock. It will be handed down to the next generation. Great inner city location, renovated back to its original condition but with contemporary features. Can you tell I am excited about this one
Location is fantastic, 5 min walk to train, 1 min to tram, 3 min walk to Chapel Street. I would live in this one after I have finished, but it would stop me buying more property, so I will rent out for now. Just starting to search the market for another "Windsor" for the spring. Although I am looking at different areas now, beacuse the price for similar properties around the area has jumped significantly.
I want to live in Albert Park/Middle Park. I cannot afford to do so now, unless I liquidate all my other IP's. That's not part of the plan, so I decided that I needed to do a reno, to build equity quickly. Realistically, I may need to do this a couple of times, before I am ready to purchase PPOR in AP/MP.....
So, I literally looked at nearby suburbs and was looking for a period home in and around Prahran, but prices weren't cheap. This one came up, and the rest is history as they say.
Why this specific property though....
It was a deceased estate, needed plenty of cosmetic work, but structurally very sound. Renovated comparables were/still are selling between 35-50% more than I paid for. It still wasn't cheap still at a fraction over $600k, not including what I have/will have spent on it, once I am finished.
What I will have though, is a property I would never, ever sell. Of course I do say that about all my IP's, but this is a lock. It will be handed down to the next generation. Great inner city location, renovated back to its original condition but with contemporary features. Can you tell I am excited about this one
Location is fantastic, 5 min walk to train, 1 min to tram, 3 min walk to Chapel Street. I would live in this one after I have finished, but it would stop me buying more property, so I will rent out for now. Just starting to search the market for another "Windsor" for the spring. Although I am looking at different areas now, beacuse the price for similar properties around the area has jumped significantly.
Melton West, July 07, 4 bedder, at $210k
where:
bought some in frankston, then some more in frankston and even more in frankston !
why:
http://www.somersoft.com/forums/showthread.php?t=31663
and
Eastlink to open very soon (around June) combined with API major feature on frankston next month and we can see some quick appreciation in values and stacks of activity there.
Still the most affordable beachside suburb in Victoria with the most going for it !
How much:
values vary from $250-$700k
Harris
bought some in frankston, then some more in frankston and even more in frankston !
why:
http://www.somersoft.com/forums/showthread.php?t=31663
and
Eastlink to open very soon (around June) combined with API major feature on frankston next month and we can see some quick appreciation in values and stacks of activity there.
Still the most affordable beachside suburb in Victoria with the most going for it !
How much:
values vary from $250-$700k
Harris
Roxburgh Park (Heights), Jan 2008- $222,000 - 3 bed/2 bath
Why? Been interested in this area for awhile due to it's amenties, affordablility, lack of rental stock, and new train station opening. Roxburgh Park Heights has always been far more expensive than the rest of Roxburgh Park areas - this one came up with over a 6% rental return, so we took it.
Cheers,
Jen
Why? Been interested in this area for awhile due to it's amenties, affordablility, lack of rental stock, and new train station opening. Roxburgh Park Heights has always been far more expensive than the rest of Roxburgh Park areas - this one came up with over a 6% rental return, so we took it.
Cheers,
Jen
Bought a second Melton property in central Melton (Feb 2008), ... in fact it's next door to our first Melton property. This now gives us 1200m2 of combined block size for future development and the latest is a corner block.
Paid $197k for a totally renovated interior/exterior 3 bed, 1 bath property
Why Melton, .... I just believe in the area, in what it can offer and what it will return over time. Number one purchase has already shown good steady growth since Jan 2006.
Martin
PS ... One way to boost the value of a property you own is to buy the one next door ....
Paid $197k for a totally renovated interior/exterior 3 bed, 1 bath property
Why Melton, .... I just believe in the area, in what it can offer and what it will return over time. Number one purchase has already shown good steady growth since Jan 2006.
Martin
PS ... One way to boost the value of a property you own is to buy the one next door ....
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I live in Perth but recently bought in Victoria:
Where: Rosebud
What: Vacant 390 sqm block 300m from beach in the Avenues in June 07 for $156k. Building a 4x2 house as we speak. Net cost will be about $350k
Why: Rosebud reminds me of Busselton in the West, but its only 70ks from Melbourne (Busselton is 250kms from Perth). I think it has huge potential given its location and facilities and you wouldn't get a house like the one I'm building for under $500k within 150kms from Perth. Hoping for $320pw rent when its complete, but it will be a very unique property in this area, so maybe more???
Where: Rosebud
What: Vacant 390 sqm block 300m from beach in the Avenues in June 07 for $156k. Building a 4x2 house as we speak. Net cost will be about $350k
Why: Rosebud reminds me of Busselton in the West, but its only 70ks from Melbourne (Busselton is 250kms from Perth). I think it has huge potential given its location and facilities and you wouldn't get a house like the one I'm building for under $500k within 150kms from Perth. Hoping for $320pw rent when its complete, but it will be a very unique property in this area, so maybe more???
In Aug 2007, bought in Chermside West, Qld. 388k for a renovated 3 bed 1 bath and 1 garage on 607 sqm. Rent for 330. 9 kms from Brisbane CBD. Walking distance to schools, child care, parks, hospitals and largest Qld shopping complex =)
In Dec 2007, bought in South Launceston, Tas. 260k for a 4 bed 2 bath and 2 garage on 1917 sqm. Rent for 290. Has spectacular view of Tamar Valley =D
In Dec 2007, bought in South Launceston, Tas. 260k for a 4 bed 2 bath and 2 garage on 1917 sqm. Rent for 290. Has spectacular view of Tamar Valley =D
