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Frankston

Discussion in 'Where to Buy' started by duanerek, 8th Sep, 2016.

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  1. duanerek

    duanerek Member

    Joined:
    1st Apr, 2016
    Posts:
    24
    Location:
    victoria
    Hi Guys
    I'm thinking of buying an IP in Frankston
    Looking at a 2 bedroom apartment off the plan in Ebdale Street.
    The location is 800m from the beach , 600m from main shopping centre and train station
    Ebdale is basically a no through road, so quiet with police station near by
    I'll be paying around 340k for this apartment
    Is this a wise investment?
    My only worry is capital growth

    Cheers
     
  2. larrylarry

    larrylarry Well-Known Member

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    Location:
    Sydney
    Why not an established house?
     
  3. duanerek

    duanerek Member

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    Location:
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    Larry
    Established houses in Frankston are way out of my price range
    I'm looking to spend 350k max and even that will be struggling to get me a decent 2 Bed Unit.
    I don't really want to venture into Frankston North
    I've been looking at Langwarrin, Seaford and Carrum Downs but Frankston has great growth drivers at the moment
     
  4. larrylarry

    larrylarry Well-Known Member

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    @sauber and others have IPs there. It seems there's still room for growth. I have only looked at houses so can't offer much in terms of OTP apartments.
     
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  5. sauber

    sauber Well-Known Member

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    Yes i do. Im currently living in mine while im doing my electrical apprenticeship. Then i plan to rent it out again while i travel. Definatley room for growth
     
  6. bythebay

    bythebay Well-Known Member

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    Location:
    By the bay
    Unless your unit has ocean views I'd try buy an entry level house, there's one listed online sub 350k
    Too much scope for developments and apartments to be built in Frankston
    I personally think you would be far better off to invest in a house from cg perspective even if it's a bit further from the beach and in original condition
     
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  7. sauber

    sauber Well-Known Member

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    Location:
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    I agree. If you can get a house in karingal at 350k your doing well. If you were thinking frankston nth (thats if you were) you only buy peninsula link side of excelsior drive. Nowhere else.

    To the people that know me i usually crap on about the central part proximity to everythibg etc. Its hard to find a house sub 400k now. But it does happe ln every now and again.
     
  8. duanerek

    duanerek Member

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    1st Apr, 2016
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    Location:
    victoria
    Wasn't really thinking of Frankston North but with my budget may be forced there. Karingal seems to be selling fast as well. I'm definitely looking at houses but i'll see what my dollars can bring
     
  9. WattleIdo

    WattleIdo renovating Premium Member

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    Location:
    Central West NSW
    Although I would always try to buy a house first, units are very poular in Frankston and being in a very central, convenient and nice area could be a good thing. Units are really easy to care for. Sometimes I dream about selling a 4 bedder in Frankston Heights and buying a 2 bedder in Central Frankston. Swap the 4-boy-stay-at-home-parents for an old couple or a young professsional tenant.
    Just be aware that you are buying at a time when many others are buying. If you are ok with that, fine.
     
  10. duanerek

    duanerek Member

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    Location:
    victoria
    I agree Wattleldo, units are attractive and affordable in Frankston. Pretty rare to get a house in my price range. The market is pretty hot at the moment that's why I'm going to extend my search area.