Jan
Hi,
I did some research on Melbourne's property as I am contemplating of purchasing an apartment.
I have came across some apartments which seemed to belong to some "hotel"? Is it common in australia that some hotels are "hybrids"? (part residential and part commercial as such?).
What are the implications if I were to buy an apartment of such nature? Would I be able to 'sell' it in the future and fetch a decent price maybe?
Appreciate all kind advices,
Thank you.
Cheers,
bb_kitkat
Answer:
I have heard of two different hotel-related apartments being offered in Melbourne. One is a complex where some floors are hotel rooms, and other floors are essentially ordinary apartments. The apartment owners get some access to teh hotel facilities, but essentially its just a case of sharing the building with another business.
The other is a scheme for investors, where the "apartment" that is sold to you is essentially used as a hotel room, with the income from the room directed back to you, once the hotel management has taken their cut. I assume that this particular scheme has tax advantages for some people. I would be wary about being able to resell property sold under these conditions.
I wound up moving to the suburbs, so didn't buy into either property type.
Answer:
Point Cook is a bit over 20km from the city. It is convenient to the freeway, but I am not sure what public transport there is, if any. It looks like its quite affordable, but I don't know how much growth in property values you would see there. Report It
Answer:
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