VIC Frankston property advice

Hi there,

Please can anybody advice if this could be a good option as a FHO with only 5% deposit but on good income.

• 1/109 Frankston - Flinders Road, Frankston, Vic 3199

https://www.realestate.com.au/property-unit-vic-frankston-134518282

• 5/48 Aqueduct Road, Langwarrin, Vic 3910

https://www.realestate.com.au/property-unit-vic-langwarrin-135368926


Both off the plan and thinking I got another 12 months to save and can get into the market now.


Thank you

 

Like the guys said in your other thread, try getting into a full house in the Karingal area. That first TH is at an eye-watering $750k.. OMG..

 

Like we have already said, do not do that!!

Google "lenders mortgage insurance". If you are desperate to get in the market I would definitely consider paying lenders mortgage insurance and get an established property on a nice piece of land in Frankston over an OTP property on a main road. You said you wanted growth....

 

I have multiple dev projects of my own in Frank and identical 3 bed TH in my dev in a better location will go for $675-ish brand new (which is $100k more than what it would have gone for 6 months ago at $575ish) but with this townhouse at $750k (and yet to be built), you would be paying $75k worth of hot-air.

Don't buy OTP...

 

Thank you. Appreciate the very straight forward and honest advice. I’m glad I found this forum.

 

There seems to be more good news coming for Frankston with PACE taking up land in Frankston for apartments...surely going to change the skyline of Frankston