VIC Frankston vs Langwarrin

Hi there,

I'm thinking of buying an off the plan Townhouse as a way to get into the property market. I'm a first home buyer and would like to stay in the Frankston area as an owner occupier.

I'm interested in 2 off the plan townhouses in 2 locations:

1. Frankston - $750000
2. Langwarrin - $720000

Which one will have better capital growth in the future?

Which area is better? Frankston vs Langwarrin.

Thank you

 

Well that's a no brainer. Frankston will be spending 1bil in the next few years with all development happening. Can't say that I see Langwarrin doing that. If your looking for capital growth. I'd say Frankston hand down....

 

Thank you Sauber. And do you know if townhouses have had increase in value in Frankston?

 

Of course they have. But it's slowing from my experience. Everyone wants houses. I think there up around 4.3 percent from last year while houses are up like 8-9 percent. I think @Harris will have those numbers!

I'd be buying a house for those prices your suggesting in Frankston..not a TH.

 

Hi Louis

Just wondering if you have looked into the pros and cons of off the plan purchases? Most people would NOT recommend off the plan townhouses for capital growth. If this is going to be a stepping stone to a future PPOR I would do a lot more research and would be looking at an established house of a decent piece of land. If you act quick you should be able to get something decent.

I strongly recommend you find the property couch podcast and power through the first 20 episodes before buying anything.

 

As others have commented, I would buy a house with land content (Karingal area in your budget) but def not OTP townhouse. If you want a new build to move into and require a Townhouse for your budget, make sure you buy one that is already built and ready to move into with decent land content rather than pre/mid build.
Frank market is still strong and was up c5% last quarter, both for houses and units

NoCookies | The Australian

 

id have to agree with harris. 720k wouuld get you a fully reno'd house in karingal id say.

 

Thank you guys. The main reason I was thinking off the plan is because of having only 5% deposit and thought the time it’s built I can save more but already have a foot in the door.

The location looks great as very close to Monash uni, primary schools, and Frankston hospital

Well I guess I gotta wait longer.

 

Thank you guys. The main reason I was thinking off the plan is because of having only 5% deposit and thought the time it’s built I can save more but already have a foot in the door.

The location looks great as very close to Monash uni, primary schools, and Frankston hospital