Hi Mates, I've recently joined the forum and after your honest advise. Being a first home buyer, I'm aimin gto buy a land/house having a budget of around 600K. After doing some research, I foundout Western Suburbs such as Tarneit, Truganina and Mount Cottrell are afforable. I got gew options of land 350m2 @ AUD290K. Locations photo is attached. Do you guys reckon if it is ok? if not, can you please advise any other suburbs to work on it. Appreciate your assistance on it. Thanks
If there were no grants, stamp duty exemptions etc, would you still buy this type of property? Why do you think it will outperform the wider market?
Hi Waqas, Welcome to the forum. If you are buying your First Home, I think your main priorities should be: Where do you want to live? What size land you want? What sort of home do you want to live in? Land of 350sqm seems pretty small to be on the outskirts of Melbourne. I'm not a property expert, but for capital growth, I would be very confident that a larger block with an older house in an established suburb is going to perform better than a nice new home on 350sqm on the outskirts of Melbourne but it is not all about money & you need to be happy living there. If you are open to all areas of Melbourne, I would be looking at Sunshine West, Gladstone Park, Campbellfield, Dandenong, Frankston, Thomastown & Lalor to see what suits you and if you are happy with what you can afford in those suburbs. Good luck! Chris
