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VIC St. A (Cedar Woods)

Discussion in 'Where to Buy' started by Curious1, 5th Jun, 2016.

  1. Curious1

    Curious1 New Member

    Joined:
    18th May, 2016
    Posts:
    2
    Location:
    Melbourne
    Cedar Woods has a new development coming up in St Albans, close to Vic Uni, hospitals and other services. Do you think that this development has potential for a first investment property (as compared to buying a run down house for renovation in a more established area)?
     
  2. strongy1986

    strongy1986 Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    201
    Location:
    VIC
    why would you buy a house that is more expensive and most likely on a smaller block just because its new?
    In 25 years is cedar woods going to be worth more because the houses are newer? I wouldnt think so
     
  3. Curious1

    Curious1 New Member

    Joined:
    18th May, 2016
    Posts:
    2
    Location:
    Melbourne
    Thanks for the feedback. It was the cost which caught my attention. $407 k for a three bedroom townhouse (granted much smaller than an established house). Whole new town development, was curious if there was any insight into the area of St Albans. My choice will be to spend more on a run down (in a more established area) and do a reno or buy into a new development.

    http://www.staliving.com.au/town-homes