Buying a house in Melbourne is a risky task with many factors that must be considered to avoid a real estate money pit.
Problems like high maintenance fees, poor capital growth, low rental yields and the high cost of money.
All these issues will affect your bottom line when you sell as most of them can’t be fixed. So it’s wise to buy the right property first time around to avoid the headaches.
When buying property off the plan or building from scratch, most of these issues are difficult to spot as you’re trying to work out how the house is going to work off an architectural drawing.