Geelong - Newcomb vs Armstrong Creek

Discussion in 'Where to Buy' started by Misselle, 11th Jan, 2021.

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What would you recommend

  1. Option 1

    5 vote(s)
    62.5%

  2. Option 2

    3 vote(s)
    37.5%
  1. Misselle

    Misselle New Member

    Joined:
    10th Jan, 2021
    Posts:
    2
    Location:
    Melbourne
    Hi there!

    I'm about to embark on a big decision (for me haha) and wanting some advice from those of you with much, much more experience than I.

    I've been presented with two options:
    Option 1. Buy established home in Newcomb for approx 450-490k 3-1-0 (no garage, just a long driveway) on a large block over 650m2

    Option 2. Build a home in Mount Duneed for approx 490-510k 4-2-2 on a 400m2 corner block.

    My plan is to live in it whilst studying, then sell in 3-4yrs or potentially rent, depending on the appetite at the time and my future plans.

    Would love some advice as to where I'll get a greater return, and what you would recommend my cut off for the established home would be. I'm thinking if I bid anymore than 475, I might as well build a new home, but that's based on numbers more than holistic approach.

    Thanks a bunch, really appreciate the help on this one! ❤️
     
    Misselle, 11th Jan, 2021
    #1