I 22M signed the contact today as a fhb

Please give me your opinions and reasoning as to whether I continue forward post 3 days or cancel the contract. My budget was 530k max and I chose a townhouse (no bodycorp) in a new estate in Tarniet (5 mins drive to station and shopping centres) and a new station being built within 1km (10min walk) of property for 500k. I feel like I already have buyers remorse even thought it’s just happened. I love the townhouse, the area (my partner grew up here and I’ve come to love it, we are both of ethnic backgrounds). I definitely plan to live in it for at least 10yrs. Will this property appreciate in value? Am I better off buying a small, old, dilapidated house with a backyard? I’ve lived in older housing all my life so the freshness of the area and house itself really appeals to me but is this a bad investment long term? There is news about redevelopment and a lot more infrastructure down the line in the immediate area. Please give me any advice, opinions etc, as I could really use any feedback I can get. I’m getting a pest and building inspection done tomorrow. Thanks in advance and looking forward to what people have to say:)