Hi all,
My partner and I are currently looking at investing 300-350k in a property in Point Cook. I was wondering if anyone else out there is investing in this area and has any thoughts on it.
Any advice would be much appreciated.thanks
Robert
Dont bother
Firstly are you dealing with a builder of a marketing company. Either way the price may be inflated by as much as $25,000. There are also a lot of house and land packages in that area. Do you research very carefully.
Nigel Kibel
http://www.propertyknowhow.com.au
Australian and New Zealand Buyers advocate
service and seminarsNigel Kibel | Property Know How
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I am dealing straight with the builder, there is plenty of land for sale with blocks starting from 120k(400sq) I am planing to bulid a house and in the future move in.. Any other recomennded areas?
If you are looking to move in thats a life style
move. Point cook is close to the city. Just due your research, you will soon know if you are getting value for moneyNigel Kibel
http://www.propertyknowhow.com.au
Australian and New Zealand Buyers advocate
service and seminarsNigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
I agree with Nigel. Property in Point Cook may offer a great lifestyle, but currently makes a poor investment.
I know of a number of investors who have bought proeprties there and are having real trouble leasing them.
They have sat vacant for months despite lowering the rents.
You could probably find a better area in which to invest.
For example we are currently buying established 2 bedroom units in Elwood for clients for $285K -$300K. They rent out quickly at $295 -$300 per week and Residex predicts 10% growth per annum in this area.
Michael Yardney
METROPOLE PROPERTIES
Author of Australia’s leading property e-magazine.
Join over 10,000 readers each month.
FREE subscription http://www.metropole.com.auThanks guys for advice.
Cheers
Rob
I’m quite interested in this area as well. The pluses include close to city, close to beach, quickly growing population, train station, proposed shopping center and etc. Hence I think this area is currently undervalue and will has good growth in the future, what’s your thoughts?
i am about to buy one as well, in the surrounding area (seabrook) for my ppor, i don;t really think it is undervalued, what i think it is an area where i can afford with my budget, similar distance on the eastern suburb will be asking around double the price, which sounds very overvalued.
and for rental, i think it is very hard, since there is a lot of empty houses, and whenever i go to the real estate agent over there, the rent list still the same, same house have been sitting there for about 2 month, and have been lowered the rent, still on the list. so fir + or – geared. i think it will be very hard.
my opinion anyway.
When you buy new its try that you also get better tax deductions however you are paying for it.
In my view if you are going to spend $350,000 you are better off going to elwood or st kilda and buy an art deco apartment. If you want new be smark and deal with Michael Yardney from Metropole properties at least there you now waht you are paying for and you get ttrue wholesale
Nigel Kibel
http://www.propertyknowhow.com.au
Australian and New Zealand Buyers advocate
service and seminarsNigel Kibel | Property Know How
http://propertyknowhow.com.au
Email Me | Phone MeWe have just launched a new website join our membership today
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