All Topics / Help Needed! / VIC PPOR- New townhouse vs Old house

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  • Profile photo of jbjb
    Participant
    @jaymbhuta
    Join Date: 2016
    Post Count: 7
    October 6, 2016 - 11:44 pm

    hi, I am looking to buy PPOR in Melbourne east. My budget is around 700k. I cannot decide whether to buy a new off the plan townhouse ( house size 22 sq, land 290sq) with its own street frontage OR an old house (4/1/2) with decent land(land size 700sq). Any thoughts? Thanks in advance.

    Profile photo of MTRMTR
    Participant
    @marisa
    Join Date: 2004
    Post Count: 663
    October 30, 2016 - 3:47 pm

    What I would be doing is finding out what is in demand in this area? In other words what is achieving higher growth.
    Can you share the area/suburb?

    Also, look at houses in this area where you can possibly add value by renovating or if the land can be subdivided where down the road you can cut it up and on sell. This requires considerable homework but the re agents in the area will have the answers.

    I am a developer so I would always look at land which can be subdivided as this is a very lucrative strategy to make money in the future.

    All the best.

    Marisa
    MTR:)

    • This reply was modified 8 years ago by Profile photo of MTR MTR.
Viewing 2 posts - 1 through 2 (of 2 total)

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