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Hi Nigel,
Probably you didn't check my post. Or maybe I put it in the wrong section. I am looking for house in outer suburbs. I just wanted to decided between the options in terms of suburbs.
As I am a complete noob when it comes to property purchase in Australia, could you recommend any reputed property broker who would deal with clients for the price range I am looking for ? I would like to put forward my options and ideas and get advice to go ahead.
Regards,
Sunny
I am back to bring this thread back to life. After feedback from various people and personally visiting a few places, I have decided against the city apartments idea. Instead I am looking for a house where I can live for a few years and then perhaps rent it out. My budget is maximum $280 k.
I am looking at the western suburbs of Laverton and altona meadows (although with my budget it seems finding a house is pretty tough). In the East, I am considering Boronia/Bayswater north/Ferntree Gully.
I am aware of the western suburbs lacking infrastructure and growth as compared to the East but the two suburbs in West are relatively close to the city (where my wife and I work). The suburbs in East are almost like 1 hr by train.
Any ideas on what my best bet would be. I am obviously going to live in the place for 5-7 years and then maybe rent it out.
Thanks for all your replies. (And special thanks for xdrew for your detailed insight). My situation is as explained where I will move overseas in around 7 years.
I have investments back overseas which provide with CG and capital yield and also I am getting my house constructed there. I would have chosen to invest the remaining money too overseas but I wanted to place myself in a situation where there is something left in Australia (which I really love) and who knows, down the line my children could return.
I would have taken a house in a suburb if I stay for around 10 years but that's where my trouble is. Even for argument sake if I take a house worth 260 k (placing a deposit of 50 k) and maybe clearing out another 50 k on the principle before I go, I will still be remaining with a balance of 150 – 160 k. So, even if I rent it out for around $1000 that would just clear the monthly repayment and worse if the interest rates go up, I need to send money from overseas to meet the monthly requirements (which is the last thing I want).
If there is something else I could do ? (sigh)
Thanks for the info. So how does this buyer's agent thing work ?
If I like a listing, then should I then let the buyer's agent deal with the negotiation from start to end ? Or should I first approach the buyer's agent and let him know which areas and the budget I am looking at ?
And is the buyer's agent paid as a fee or is it a commission based thing ?
— Sunny
Thanks guys. The maintenance costs is something I will definitely consider.
When a property is advertised for a certain price, can I use someone like a buyer's advocate to get the best deal ?
Thanks Jacm, I am a bit concerned about the road traffic in the Western suburbs but I travel by train daily. So will check the train line at peak times.
Thanks for all the comments. That was great to read your view points. I've been breaking my head about this for the past few weeks.
Zanshibui – I will definitely be staying for 10 years (maybe even more).
Derek – 260 K is the loan I will be getting after depositing the 5 %. So I'll be looking for a house around the 270 K mark.
I am still weighing between Laverton/Hoppers Crossing and Craigieburn/Thomastown. Mostly, I am inclined to buy a pre established property which is closer to amenities as all the new houses (for this price range) are really far from the station.
Also, would it be a good investment if I purchased a flat for the same price in maybe a location like reservoir ?
Thanks folks for the input. I'll be looking for houses in Thomastown and Epping. Most likely a pre established property. Am I better off buying a pre established property in these areas compared to a house in the suburbs I mentioned above ?
Both these suburbs are zone 2 but this is the area I am used to (I live in Reservoir).
In that case, am I better off investing in Werribee ? I really don't understand how one area is good compared to another. Like people told me that Laverton is good place for investing as it is close to the freeway and all, but HC is just like a 10 min drive from Laverton. And others said Werribee is better than HC which is a bit further away from HC.
Can anyone explain this.
Thanks jmsrachel and plc. I will be looking to houses in Epping. Is Hoppers crossing any good amongst the ares I mentioned ?
omg 100 ? no way i wanna live like a vegetable.
