Hi Investors! What are your thoughts on Spotswood? I know the market is saturated with apartments in neighbouring Footscray. However, will buying an apartment OTP reap benefits in 2 years given the borders opening soon and the abundance of liveability in the area? or Use the same amount of money to purchase a new house and land in the north west or south east?
Choosing between the two, I’d go house and land. Having said that, Spotswood is increasingly popular and if you can find an older villa unit or townhouse I’d consider that to be a better purchase than your two original options.
Would it not be wiser to buy OTP as you are hedging for today’s prices and you can claim more tax be if it’s with a new establishment?
The reservations is around apartments in Spotswood. I wouldn’t do OTP apartments anywhere, but I personally wouldn’t do apartments at all in Spotswood.
I don't know much about the area, but the house below looks interesting Below Median, big block, cash flow positive - Knockknock
No chance of a cash flow positive house in Spotswood. That’s a massive underquote. Unrenovated houses on 300sqm were going for $1mil before this boom.
