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
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.
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...)
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.
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?
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.
