Hi guys, I'm going to look at land for sale today so you know I've been doing some thinking. I'm 26 years old and I want to break into the property market in the northern suburbs of Melbourne, so I'm just looking for some sound advice. I'm wondering whether I should:
Buy a piece of land in a new area and build on it or wait for it to appreciate in value and then sell
Buy an older house in an established area and rent it out after 1 year to qualify for FHOG
Any other options?
I think it may be a good time to buy given the market today. I am a casual worker making approx. $900 p/w. I have savings of 35k and I could probably lend some money from someone I know and then pay them back when I save some more and I get the FHOG.
Any help is appreciated