Hi guys, We are a couple who's been dreaming of finally getting our own house. Last year we paid all of our debts and now starting to save money. Currently we now have 10k plus and expected savings of 3k each month. We know that we are still short for the 5% minimum deposit. But when we are doing are usual weekend estate hunt we came across at home solutions low deposit payment. With our cash on hand we are a good fit to secure a land and house with low deposit. We are still thinking if this is the right decision or better wait for more money to save. There is this new estate in Melton with a very reputable name of the developer and the growth looks promising. Any thoughts if this is a good buy?
Hi Hieund85, It is for us first home buyers. Maybe stay there for a year and then convert it to an investmanet property?
If you want to live in Melton I would recommend going for a well located older home on large land close to amenities. Please don’t bother with new estates, unless you really know what you’re doing or happen to buy in a rapidly rising market.
Like @G TOWN said, don't touch H&L in a new estate in the outer suburbs. Too risky at the moment. Go for an established house.
Thanks guys the reason why we are considering the estate is because it is handled by a known developer. A new train is coming soon (next year) which will add value to the property I guess. Only thing that I am concerned about is the trend within Melton south it only started to show a growth from year 2016 until 2018. But from previous years only 10k was added to the value from its original price per year.
