Moving to melbourne

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aumeow
Participant
@aumeow
Join Date: 2004
Post Count: 11
January 16, 2005 - 2:22 am
hello all!
im planning to move to melbourne in around 6 months or so for a year or two… Just want to live there and work there for a while. My question is…
should i buy a house over there or rent instead?
(the reason is because the houses are cheaper than sydney and i think i could profit from them later on)
if so then what areas should i be looking at?
me and my partner have been looking at st kilda since the last time we visited melbourne and it seems like a nice place
and lastly
do you think we can buy a proerty for around 200k close to the city and also buy one or two positivly gear property around the area?
thanks to you all!
tony
-aumeow
Monopoly
Member
@monopoly
Join Date: 2004
Post Count: 1,612
January 16, 2005 - 2:36 am
Originally posted by aumeow:
should i buy a house over there or rent instead?
This is a personal choice. Certainly RE is cheaper in Melbourne than in Sydney, but the gap between the two cities is closing and both are on a fairly even par as far as CG in the current property market. If you can afford to buy, then go for it, but if not renting may be the better option; again as I said, apart from personal choice depends on your financial situation (ie. after doing your “sums”).
if so then what areas should i be looking at?
Depends on your budget, and as I can see from your question below, that is 200K???
Which basically leads me to answer your next question……
me and my partner have been looking at st kilda since the last time we visited melbourne and it seems like a nice place
St. Kilda is a trendy place; very cosmopolitan (latte sipping types) and so I don’t think 200K will get you much, at least not anything worth living in immediately.
do you think we can buy a proerty for around 200k close to the city and also buy one or two positivly gear property around the area?

BOTH??? Not likely!!![blush2]
You MAY be able to get a unit for 200K but you certainly won’t get BOTH a unit AND even ONE positively geared IP. I’m afraid positive geared IPs in inner Melbourne are near impossible.
Good luck, and I’m sure you’ll enjoy living in world’s “most liveable city”!!! [biggrin]
Jo