VIC Hold or sell in Burwood VIC?

Discussion in 'Where to Buy' started by thejourneybegins, 18th Dec, 2017.

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  1. melbournian

    melbournian Well-Known Member

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    can tell you it happens everywhere nowadays - even in albert park there are issue like this.
     
  2. thejourneybegins

    thejourneybegins Member

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    i would tend to agree with you but 12 months in burwood and nothing happens, especially on this street...
     
  3. melbournian

    melbournian Well-Known Member

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    My street 5 years nothing happened till influx of Gang violence recently
     
  4. kaibo

    kaibo Well-Known Member

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    which suburb is this?
    To be honest I would recommend everyone to buy into better suburbs/area as sooner or later neighbours will band together and have private security patrols in the street overnight. The middle class as we know it will shrink due to AI, tech, automation etc. The wealth gap being bigger will lead to more crime
     
  5. melbournian

    melbournian Well-Known Member

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    suburbs - albert park + south Melbourne

    I think that's a bit over. Doncaster East had a whole bunch of breaks in couple of months ago on a same street. no different to other suburbs in the west or north

    it is a bunch of certain ethnic groups going around causing these issues. IN fact the new land estates are more inclined to have this compared to other suburbs as they can be formed within the estate. with neighbours banding together - collection of payment for services ( it sort of seems like a owners corp approach which will no doubt cause issues - some may want cameras certain places, ppl at certain times etc)
     
  6. Medine

    Medine Well-Known Member

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    Hi Thejourneybegins,

    This is a big decision that could impact your financial position significantly.
    It would be really good to get your financial planner to look over your whole situation and give you their thoughts.
    For my 2 cents worth I'd be mostly concerned about investment horizon.
    If you're planning to hold for 12 months as above maybe not much will happen in the market over that time, but over 10 years it's likely to increase (as it has for the last 118 or so years).
     
  7. Seby643

    Seby643 Well-Known Member

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    Definately hold in burwood. Being close to places like chadstone, deakin uni and the city is a big bonus
     
  8. melbournian

    melbournian Well-Known Member

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    yeah def hold in Burwood if you hold a house and not a townhouse.
     
  9. jazzsidana

    jazzsidana Well-Known Member

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    In my opinion, no point selling at this point.
    Cost to sell out and buy another one will wipe out easy 100k.
    I personally rentvest with decent size portfolio and love that lifestyle and numbers make perfect sense.
    Rent yield around NorthCote won't be more than 2% net, which means renting works out better and property prices in those areas are already close to peak. If you can somehow manage to buy one without selling, that's best move but now is not the best time to buy in Melb ...
    Another strategy will be to buy another investment property somewhere else for bit cheaper with much higher rent yield (QLD/Adelaide) with strong capital growth potential and rent where you prefer to live.. Win Win!.
    Hope it helps :)
     
  10. kaibo

    kaibo Well-Known Member

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    personally I find yield especially in shares a trap (surely they could re-invest and make more money than giving it back to share holders). I am sick of tax advisers telling me to buy off the plan in regional areas. Buy in an area/type of housing you want to live in or an area which would most closely mimic the location/type of property you want as PPOR. Pure investment is different as you can buy a place that you will never live in but potentially enjoy the growth.
     
  11. jazzsidana

    jazzsidana Well-Known Member

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    Time to change tax adviser i guess. Sounds like some kind of kick back they getting .. @kaibo
     
  12. thejourneybegins

    thejourneybegins Member

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    Thanks for the further input, didn't realise i had more responses in the thread - i haven't been alerted so thought there were no new responses.

    Appreciate its a big decision to make and 1 half of it has already been made - the property has been listed for sale. Just to be clear its a townhouse and not a house and i think there is less upside in townhouses given the supply of new builds of townhouses coming up in the area. If your curious, listing is here -> 2/13 Edwards Street Burwood Vic 3125 - Townhouse for Sale #127491314 - realestate.com.au

    As for next movements, most likely rentvest and will firm on a decision closer to when I need to but understand from what I've read so far that it is more of a lifestyle decision and will be viewed as a long term approach. Surplus funds can be invested in a variety of manners.
     
  13. housechopper2

    housechopper2 Well-Known Member

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    Just curious, If you think it's worth 1.2-1.3m, why is the advertisement quoted at 1.1-1.2m?
     
  14. thejourneybegins

    thejourneybegins Member

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    At the time I was confident that was the case but after speaking with a variety of RE agents, had to somewhat reassess expectations.
     
  15. housechopper2

    housechopper2 Well-Known Member

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    Best of luck with the sale - looks like a great home for someone
     
  16. thejourneybegins

    thejourneybegins Member

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  17. kaibo

    kaibo Well-Known Member

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    You've made the right choice and hope you get the price you are looking for. A lot of other better investment out there and that intersection (toorak rd/warrigal rd)is one of my most hated ones around (Camberwell Junction is the worst)
     
  18. kaibo

    kaibo Well-Known Member

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    If time was not an issue I think putting that wall in for 4th bedroom would have added value. Did you ever get it quoted up?
     
  19. thejourneybegins

    thejourneybegins Member

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    thanks Kaibo - keeping my fingers crossed.

    i think that intersection isn't that bad compared to alot of other intersections around melb (say north where I was originally from). Slightly busy at peak times but not something where you sit there and get agitated waiting as no movement takes place.

    got quoted up for the wall but the agent recommended to leave it as is (and they will talk about it as an option) so that the property has wider appeal if an extra rumpus was preferred over the extra bedroom. If the buyer wanted an extra room done before they move in then the works could be done fairly easily as well. just thought it made more sense to provide buyers the option.
     
    kaibo likes this.
  20. kaibo

    kaibo Well-Known Member

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    how's the campaign going? Can't come to auction on sat as daughter has swimming but may swing by thursday arvo open. Best of luck with the auction and nice video
     

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