hey guys, ive started the process of looking for my first home and id love some advice on what direction i should go. i have a budget of 520k, im currently weighing up whether to buy a cheaper unit or townhouse or go for a bigger property that i can subdivide in the future. ive been looking in areas like dandenong and frankston for bigger property. ive looked at areas like boronia and bayswater for the unit/ townhouse approach. id really love some advice on what you guys recommend would be the best strategy for my first home, and also if you guys reckon these are smart investment areas as im open to ideas on the south east side of the city.
i just bought my first home as not too long ago with a similar budget as well (600k) and to be honest if you are going to live in it, buy the property that suits your lifestyle and that of your partner. if you want to buy a big plot and live in dandy for at least a year that's fine, just make sure you know what the commute is like. fwiw i wouldn't chase after CG of 5 to 10k a year if it means putting up in an area i don't feel at home at...buy and subdivide sounds good though we may never have a crash like this one again for a while
Take a peek at Lilydale and Mooroolbark, might still find a property within your budget. I know people that have made money out of Healesville too. I don't think Dandy/Franga would fit into that budget. Other than this, Mornington, Baxter perhaps?
