PPOR first home buyer Melbourne

Hi all, I am first home buyer and planning to buy a house in Melbourne western suburn, Manor Lake, 3024.

Can you suggest whether it will be a good move in terms of capital growth. My budget is 600-650k . I liked a house and it is 9year old well maintained property and near to Wyndham vale station and school(not a high ranking school). I might put an offer for 630k. Interms of rental yield in the suburb it's on low end side. Somewhere aroundn 350-400per week.

Any suggestions are welcome as I am fairly new to the property and will try to learn from you.

Thanks

 

Can anyone reply or share your views

 

I don't know the area but the fact that you're looking at pre-established homes is already a good sign that you're on the right track.

 

Is it a PPOR or a rental? If it's a PPOR then rental yield isn't an important consideration

 

PPOR. What else do I need to take care while buying est property. We had the building inspection done and it came fine with minor issue here and there

 

You have ticked all major checks with your criteria. Go ahead and buy this house if you love it and want to live in that area.

Don’t hold yourself from paying little bit over other offers as at the end of the day only one who thinks this house is worth more than what other buyers think gets it.

 

Thanks and I put the offer and it got accepted. Did the building inspection and nothing major comes in that just Minor maintenance issues. Now next step is to get the finance approved. Thanks all