Hi all,
We’re looking for our first home and found a nice 3×2 (2storey) townhouse in Point Cook asking for $280k. It’s right across a park & play ground which will be good for our baby. It’s on strata title with the garage sharing wall with the neighbour. I like the property but worried about the resell value (in about 5-6 yrs time) because of the strata title and garage sharing wall with neighbour.
Any thoughts?
Have a look at http://www.homepriceguide.com.au and http://www.residex.com.au . They offer reports which will provide background info on how the suburbs has performed and some prediction on how it may perform in the future.
It will be valuable for you to have this information prior to buying, as it can also provide you with recent sales info as well.
Cheers.
Happy Hunting
DianaI don’t think a garage sharing a wall would be a problem like a living room sharing a wall. Neither will strata title hold back values.
What may restrict capital growth is the large amount of development occuring and the limited demand as well as the large number of properties bought in the area by investors that are not attracting tenants and that are standing vacant.
Be careful with what you pay. There are some desparate vendors in POint Cook and you could pick up a bargain. Our buyers’ advocacy bought a home in Point Cook for a client to live in the week before Xmas at a bargain price. Send me an email or private message and I will give you the details.
Michael Yardney
METROPOLE PROPERTIES
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FREE subscription http://www.PropertyUpdate.com.auWe decided not to go ahead with the townhouse. We found a really nice brand new home with all the extras (ie. floor board throughouts, ss appliances, heating/cooling, double gg, high ceiling, etc etc), and it’s on a street full of other nicer homes (ie. double storey & contemporary designed homes).
This one’s asking for $330-350 but we’re offering $320.
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