QLD I have $40k cash saved, $180k pre-approval

I have $40k cash saved, $180k pre-approval.

Looking to possibly have a cash positive place (I understand that this will mean the CG will be lower).

Anyone got any ideas what decent area I can look into with these numbers?

 

Kiribati Islands, Syria or North Korea

 

50 Alkira Avenue, Norlane, Vic 3214 - Property Details

There's not many left as cheap as this, but if you are a first home buyer stamp duty is not payable now in Victoria. You're as close to a major capital city as you can get pretty much with a place like this, about 65 k's from Melbourne and 10 minutes to Geelong. Plus, Geelong is a coastal town too, the beaches are all within a 30 minute drive. Worth a look anyway.

 

Assuming bank lends 80% you have to come with 20%... you need to find a property selling well under $200k. Still have stamp duty and legal to pay. Are you looking for a house or unit? You will probably be looking at a unit.

Maybe increase your income first.

 

Could scrape into Perth or Adelaide with that budget - question is...should you. Or if you're game, try Townsville.

 

Elizabeth and surroundings in Adelaide or a unit in inner-Perth region, Rivervale, Maylands etc.

 

Wait till Sydney crashes. You should be able to buy a house in the city

 

Honestly for that price range your better off saving more and getting a bigger loan. You cant buy anything sub $200k that is worth buying really imo.

Get a $250k-$300k loan for something that has a bit of potential.

 

Oops. I left out that i already have a house in ispswich. Hence why i only have 180k to play with.

I do understand that with that budget, im looking at units only. I've been looking at melb and bris units.

But i figured i'd ask here in case there was something else i havent checked yet.

I'll gander at the suggestions above. Thx!

 

When did the city of Shuteye get proclaimed?

 

Calling @slash, I mean @sash

 

Dang auto-incorrect.


Should be Dhurruk (but then again, I like to sleep in a town that never wakes up).

 

Personally I would aim for greater savings and income to be in a position to
be able to afford an IP at min $350K. Is this possible for you?

 

If you are prepared to look outside the square you could buy in Atlanta, USA, and you will achieve capital growth today because it is booming market. You will pay around $150-160K for this one.

The only problem is you will have competition.

 

Burn baby....burn baby...I love the smell of napalm in the mornin'!

 

I light my cigs with a Molotov and the Druitt still won't burn lol.

 

Perth? Regional perhaps ???

Perhaps mining towns??

All on the nose at the moment

 

Get married and try again Seriously I would not suggest buying anything, If you have to, contact @D.T. as I'm sure you can get something around that price in Elizabeth.

 

Yeah I hate it when I lose track of an IP. I once rang up and blasted the council for sending me a rate notice on a property I had completely forgot about. Even worse was the fact I was living in it at the time lol.

 

I would honestly look to the US if that was my budget. But I would research the crap out of it first.. When I hit my borrowing ceiling here I will be looking there if it represents value.