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Thanks you all
If you think the vendor is dodgy then you might as well get out of the contract while you can. But if you still think its worth it then perhaps you can say that you got a loan approval for 20k less than the asking amount. So they can either take it or you get out of the contract with no penalty.
Thanks guys. I have actually invested in Frankston. A weatherboard house in good condition on a small plot but close to beach and train station for around $225k. I am still going to wait for the right property to come along in Dandenong.
In your opinion will weatherboard houses appreciate in value like the brick/BV houses? The rental returns don’t seem much different for the two.
I think Sydney is still prohibitive. Although prices have dropped slightly it is still highly over priced. The property I bought for $370K in 2002 is worth $350K now. It is an apartment that too 32kms from the city! We have been looking to buy a house for over a year now keeping in mind a budget of 600-650K but have so far found nothing. So we have decided to invest in Victoria instead and live in a rented apartment till we make money off our invetsment properties to be able to afford a million dollar house in Sydney one day.
Hi,
I am buying a property in Frankston too, looking at all the development in the area. The property I’m buying is 800m to the station and 12 min walk to the beach. It is a weatherborad house on the small plot though. I’m paying $222K for it. Anyone thinks it’s a bad buy? Also since I don’t live in Victoria I’ll be renting the place out. Agent says I can get at least $200/week for the property as its in a good condition.
