VIC Melbourne IP apt 250-300k

Discussion in 'Where to Buy' started by Anders, 22nd Feb, 2020.

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  1. Anders

    Anders Active Member

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    hey guys what are your thoughts on the Melbourne market for apartments in the 250-300k range for an IP? can you get something solid within reasonable distance to the CBD? have a IP house in brisbane already and an apartment in Melbourne sounds enticing as a means to diverse to portfolio but my budget is limited. what suburbs would you recommend me to look at?
     
    Anders, 22nd Feb, 2020
    #1
  2. The Y-man

    The Y-man Moderator Staff Member

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    That's going to be very tight - even Prahran/Armadale/Carnegie 1BR (been "flat" forever) are $350~400 now.

    You also need to remember you will need a solid 20% deposit + stamps AND a bank happy to lend on what is around 45 to 50 sqm.

    The Y-man
     
    The Y-man, 22nd Feb, 2020
    #2
  3. The Y-man

    The Y-man Moderator Staff Member

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    The Y-man, 22nd Feb, 2020
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  4. Todd

    Todd Well-Known Member

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    You can still get 2br older style units in Werribee within 500m of the train station for under 300k.Express trains in peak hours 40 mins to Flinders st.
     
    Todd, 22nd Feb, 2020
    #4
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