VIC Laverton?

Discussion in 'Where to Buy' started by newtothis, 11th Mar, 2017.

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  1. newtothis

    newtothis New Member

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    27th Aug, 2016
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    Location:
    vic
    Hi everyone

    I have very little experience in investing,however have some equity and savings that i would like to put to good use.

    We want to get an investment property in Melbourne. our budget is $550k

    Due to our lack of experience we have sought the services of a real estate business that has recommended OTP Laverton townhouses.

    Their claim is that it very close to the city and it will go up significantly over the next 5-10 years, especially if prices in surrounding suburbs like Altona are an inidicator.

    I am not sure if we are better of with something with a bit more land or if OTP is good given the stamp duty savings?

    Also if you had $550k to invest today would you go to Laverton?
    thank you very much
     
  2. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    Hi @newtothis

    The tenant demograhic in Laverton is problematic... many of the newer homes are already in terrible condition only a couple of years in. You could do better.
     
    MikeyBallarat likes this.
  3. Birdseed

    Birdseed Well-Known Member

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    Location:
    Sydney
    Look over the freeway at Altona Meadows... still serviced by Laverton station (Zone 1) but much better demographics.

    Doesn't get a lot of hype on here but personal opinion is it's one of the best bets in metro Melbourne for under 600K (may not be for much longer...)
     
  4. Alwayslearning

    Alwayslearning Active Member

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    Melbourne
    Hi Jacqui,

    Could you ever see Laverton as an ok land bank/ buy and hold candidate ?

    Thank you, Tom
     
  5. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    Melbourne, Australia
    Alwayslearning likes this.
  6. Greyghost

    Greyghost Well-Known Member

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    Run away from that company..
    OTP townhouses in Laverton - buy an OTP specialist... wtf

    Please do yourself a huge favour and disengage them. It is a spruiker company for sure. Selling crap under the pretence that the population is continuing to grow so get in here first. I saw a conpany doing the exact same thing around packenham area.
     
  7. Greyghost

    Greyghost Well-Known Member

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    Also why would they recommend a townhouse in a non fringe suburb?
    For $550k!!!!! Crazy.

    How come no other members here have raised their brows at this yet?
     
  8. Hodge

    Hodge Well-Known Member

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    18th Jun, 2015
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    Location:
    Melbourne
    For that price in laverton you can get a house on a 600 sqm block with development potential. Just buy close to the train station and you'll be laughing.