Hi
I am looking to purchase an apartment/unit/house in Melbourne through vendor finance can anyone help.
I can afford anywhere from $250 – $300 per week
comfortably
I can arrange a small depositRegards
Darren P
Hi Darren
Good on you for having the courage to seek answers, even if they are a little outside the square.
I think you have two options here – scale down your vision of what you want, or find a bit more money each week.
At 9%, $300 week will buy you something worth a bit under $160,000. Even if you have a wrapper who is selling at market value, there’s very few houses in Melbourne at that level. My cheapest one at the moment is $342 per week, and that’s definitely way out in the outer suburbs!
So I think you’re going to be looking at a unit, and probably quite a long way out and fairly old at a guess.
This is not the sort of property most wrappers buy, generally they go for bulk standard family homes.
But hey, by asking the question you’ve at least given yourself the chance of finding an answer.Keep smiling
Felicity
Thank you for that, as I said I can afford 250 – 300 comfortably. I can easily afford more depending on property. Eager to move into my own property.
Regards
Darren
Darren P
G’day Darren,
Check the Trading Post, as lots of wrappers seem to advertise in there… Or look in the local paper for the area/s you’re interested in.
Hopefully you might find something in your price range.
Good luck [exhappy]
Lozza
Another option is too borrow money from family for a deposit. If you have the sort of relationship with your family with this would be a comfortable option, a bank loan would be cheaper that being a ‘wrapee’.
Regards,
SiDarren
Where are you planning on buying into?
Oscar
My options are open at the moment
Darren P
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