Hi there! So I'm looking to buy a unit/apartment (max 350k) to live in for a few years than eventually sell. I'm however struggling to make a decision for what area. I'm considering areas from Warragul to Packenham, Dandenong and Noble Park as they all have a similar price point. In your expert opinions, what will make the most profit in the next few years when I decide to sell? Any advice is welcome. Cheers!
Hi @Jemafy What's your end goal? What has you considering selling this property (before you've even purchased)? Important to remember, there are high entry and exit costs with buying and selling property. If you're a first home buyer, then the entry costs will be lower with no stamp duty. However exiting the market will have selling agent fees etc, which will eat up into profit if any. So good to determine why you would sell in a few years?
Thanks for your reply! At this point I'd need to move back to the Warragul region in a few years because that's where my partner ultimately wants to settle down. Living closer to the city in the short term is necessary for work (since there arent many job opportunities in Warragul in my field). I figured out my mortgage repayments would be cheaper than rent (due to a good deposit and supplement loan entitlement) so that's where my head is at. I didnt realise that the exit fees can trump profit to that extent, so that's good to know.
Out of the areas you've mentioned, IMO, Noble Park is better, slightly safer (depending on pockets) than Dandy and closer to Melbourne. The closer the better, the bigger the land component, the better. Dunno if there'd be units for that price in NP. DYoR.
There’s not a lot of stock for 350k & under in Warragul and what there is not really in good areas...if your partner is from Warragul they’ll be able to tell you. One thing living closer to Melb and travelling to Warragul or nearby is you will be against the traffic so that would make the trip easier & faster. What field of work are you in? It wouldn’t hurt to send your cv out anyway. I am in Warragul and my company is fnding it very difficult to recruit as people think it is too far away.
Studying public relations and graduate next year. There isn't any graduate jobs out in warragul, hence my need to move up to the city. I think I'm leaning towards the city. There are some decent little units in noble park between the 250k-320k range. The decent ones I've seen in warragul are close to 350k and you're right, not in the best areas.
