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VIC small apartment in good suburb close to city, or bigger house an hour from the city, or regional.

Discussion in 'Where to Buy' started by justine77, 2nd Jul, 2015.

  1. justine77

    justine77 Well-Known Member

    Joined:
    2nd Jul, 2015
    Posts:
    59
    Location:
    australia
    Its the age old question and i guess i wonder if anyone has done the numbers

    looking at victoria
    eg if i bought a one or 2 bedroom apartment in an established suburb close to the city eg hawthorn, richmond, malvern, south yarra, st kilda, elwood etc

    or i bought a regional property a house say in ballarat or mildura

    or a house in a suburb 1 hour or so from the city where prices might still be lowish eg werribee and i know there are other suburbs

    if i then renovated and held it and then did the same a couple of years later and again a few years after that

    or if i renovated and sold

    would anyone have numbers of where i'd end up in all these scenarios and what would be the benefits of each one short term and long term?

    any info towards this would be appreciated please.
     
  2. WTSUI

    WTSUI Member

    Joined:
    4th Jul, 2015
    Posts:
    23
    Location:
    Brisbane

    Hi Justine, the key question here is what do you want for yourself, and what are you prepared to compromise on. The numbers game is different for each property but it all starts with you.
     
  3. ATANG

    ATANG Well-Known Member

    Joined:
    5th Jul, 2015
    Posts:
    176
    Location:
    SA
    I guess first question is... are you looking to live in it or just investing?
     
  4. Pins

    Pins Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    100
    Location:
    Melbourne
    What is your goal? What kind of cash-flow scenario do you need to make it work for you? Can you afford a lower yield with higher growth? Or do you need a strong yield, and are therefore more willing to forego higher growth.
     
  5. Azazel

    Azazel Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    8,113
    Location:
    Brisbane
    Hi Justine, I think you could find a good deal in the different property types in any of those individual areas. You could more easily find plenty of lemons too.