please advice on what best can be done

Discussion in 'What to buy' started by Zitkviz, 2nd Dec, 2021.

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  1. Zitkviz

    Zitkviz Member

    Joined:
    1st Aug, 2021
    Posts:
    16
    Location:
    Sydney
    Planning to buy a property for PPOR in Melbourne.I am considering

    Glen Waverley
    Doncaster East

    My budget is 1.3mil for now.

    Should I buy a land with a very old house in it and consider building in the next two years? so after 2year i can borrow around 500k loan for building a house

    or

    Should I just consider a little far off suburb and build and consider an IP after few years?
     
    Zitkviz, 2nd Dec, 2021
    #1
  2. John_BridgeToBricks

    John_BridgeToBricks Buyer's Agent Business Member

    Joined:
    25th May, 2018
    Posts:
    2,427
    Location:
    Sydney
    Someone is going to ask you about your goals and what you want to achieve - so it might as well be me.

    Ahem. What are your goals, and what are you trying to achieve?

    Since it is PPOR and not an investment, the obvious question is - where would you prefer to live? Location is the most important question, but only you can answer that.
     
    John_BridgeToBricks, 2nd Dec, 2021
    #2
    HenryC, Sidera, Branden and 1 other person like this.
  3. jaybean

    jaybean Well-Known Member

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    20th Jun, 2015
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    Here!
    I had no idea you could still buy in Glen Waverly for $1.3m, even an old house. Is it still that cheap?!
     
    jaybean, 3rd Dec, 2021
    #3
  4. The Y-man

    The Y-man Moderator Staff Member

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    Location:
    Melbourne
    I am assuming you are aiming for the GWSC and EDSC catchments.

    You'll probably get a better deal in EDSC zone (or VSC zone for that matter).

    You can PM me the deals you have found and happy to provide some opinions (fwiw)



    The Y-man
     
    Last edited: 4th Dec, 2021
    The Y-man, 4th Dec, 2021
    #4
  5. Zitkviz

    Zitkviz Member

    Joined:
    1st Aug, 2021
    Posts:
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    Location:
    Sydney
    Yes,aiming these catchments.
    thanks.
     
    Zitkviz, 8th Dec, 2021
    #5