I just wanted to get some advice before going ahead with buying my first home, I am looking to buy a place as a PPOR but want to be sure it will be a good investment as well. I have got pre approval for a purchase price up to $470k and am keen to say in the eastern suburbs Kilsyth, Croydon, Lilydale. My question is would it be a better investment to buy an older established townhouse like bellow: 1/5 Bungalook Road East Bayswater North Vic 3153 - Unit for Sale #125106790 - realestate.com.au 1/35-43 Kent Avenue Croydon Vic 3136 - Townhouse for Sale #125081266 - realestate.com.au or to buy a new OTP townhouse similar to the following: 4/26a Cavehill Road Lilydale Vic 3140 - Townhouse for Sale #124040170 - realestate.com.au 1-4/29 Hawthory Road Kilsyth Vic 3137 - Townhouse for Sale #124554134 - realestate.com.au I have always gone with the assumption that an established home is always better than OTP but how does that go for townhouses when they are of similar size etc.
My plan is to live in it for 5-8years before making it an investment property or selling it to buy a bigger place.
I haven't clicked on the links but land is where its at. Land that is well located and desirable generally appreciates over time and buildings depreciate over time Even better is if you can value add by creating more dwellings form a granny flat to a full blown development. Retain and builds are usually relatively straight forward and profitable and a good place to start. Get some help with the process though.
