The median sales price for houses in FRANKSTON, VIC 3199 in the last year was $435,000.00 based on 732 home sales. Compared to the same period five years ago, the median house sales price for houses increased 19.2% which equates to a compound annual growth rate of 3.6%.
An 80% mortgage will mean you will need to borrow $348,000.00. Therefore, given the age of some of the houses they may have building defects so be careful because buying a home in this suburb. It is very important to check for defects via a pre purchase building inspection that could cost you thousands of dollars in repair bills post completion of the purchase.
FRANKSTON, VIC 3199 population has grown considerably over the past few years and during the period 2006 and 2011, the median housing loan repayments per month have grown substantially.
So, whatever category you fit into be sure to engage a licensed building and property inspector prior to purchase to check for asbestos, pests, termites and structural defects that could further impact mortgage repayment pressures in future years.
When choosing a Building and Pest Inspector be sure to ask them the following questions:
- Do you have professional indemnity and public liability insurance?
- How long have you been inspecting houses in Frankston?
- Are you a licensed builder?
- Will you check the roof of the house?
- How will you identify any pest, termite or rotting woods behind the walls?
- Do you know or have any affiliation with the real estate agent you are dealing with on the property being inspected?
If you are not satisfied with the Building Inspectors answers to each of these questions then contact another building and pest Inspector on the Mornington Peninsula.
Tags:
Building & Pest Inspection | Frankston VIC 3199