Townhouses 500-600k - looking for growth in Melbourne

Discussion in 'Where to Buy' started by tamsin Bate, 29th Jan, 2017.

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  1. tamsin Bate

    tamsin Bate New Member

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    19th Jul, 2015
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    Hi All

    I am fairly new to property investing, I have one investment in Brisbane and I am now looking to buy in Melbourne. My preference is to buy a townhouse in a suburb that has some growth left in it but also a suburb that will be a good long term buy and hold suburb for investment. My price range is up to 600k but happy to cheaper.

    I have read a number of other threads but keen for any additional feedback. My preference is to stay within the 0-15k ring but I am not sure this will enable me to achieve some shorter term growth?
     
  2. Cactus

    Cactus Well-Known Member

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    townhouse in that budget if look at highett, Cheltenham, Mordialloc, Mentone. Not quite the distance your after though. Have a look at bayland product. They look ok and reasonably priced.
     
  3. jins13

    jins13 Well-Known Member

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    Be careful of complexes with too many extras such as lifts, pool, gym and etc. The strata fees seem to keep on increasing each year and especially with careless tenants in the complex who seem to wreak the common property area, the landlords are the ones that suffer. In saying that I do have a townhouse so they are not all bad but it's a complex of 4 and no extras.
     
  4. KateAshmor

    KateAshmor Victorian Conveyancing Lawyer Business Member

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    An older two bedroom villa unit in Carnegie, Murrumbeena or Caulfield South worth a look.
     
  5. tamsin Bate

    tamsin Bate New Member

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    19th Jul, 2015
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    Location:
    Sydney
    Thanks for your replies, I will focus my research in these areas and see what I find.