Hi all,[exhappy]
I could do with some expert tips from any Meburnians please.
I’m moving to Melbourne and having never been ther b4 am looking to buy something small as safe and close to the city as possible.
For the first couple for years we want to live there and then we will rent it out.
Does anyone have any ideas of any decent safe areas with future renting potential for under my $300K budget.
The size of the property doesn’t really matter.
Thanks in advance
TC[exhappy]You won’t get a house in a reputable inner suburb for $300k. Maybe a flat or unit.
For a family home around the 300k range, I’d consider Boronia, Ferntree Gully.
Frankston South (in the High School Zone)
Edithvale area (near bay)
But you want to get a hold of at least $450k to buy anything similar to your description. Then try caulfield area, brighton area, surrey hills area, many many others.
I’d recommend renting in melbourne to get a feel for the city first. This will also help you find and secure a bargain as the pressure wont be on to buy in a hurry.
Live, Learn and GrowLifexperience
Originally posted by lifeX:You won’t get a house in a reputable inner suburb for $300k. Maybe a flat or unit.
For a family home around the 300k range, I’d consider Boronia, Ferntree Gully.
Frankston South (in the High School Zone)
Edithvale area (near bay)
But you want to get a hold of at least $450k to buy anything similar to your description. Then try caulfield area, brighton area, surrey hills area, many many others.
I’d recommend renting in melbourne to get a feel for the city first. This will also help you find and secure a bargain as the pressure wont be on to buy in a hurry.
Live, Learn and GrowLifexperience
Thanks LifeX,[biggrin]
I would rent…but don’t want to throw money down the drain.
Correct me if I’m wrong..but I reckon my best bet would be to buy a 1 bed appartment blind in Melbourne CBD. I’ve looked at prices and I can get one for less than $200K.
This way I wouldn’t need to get a feel for Melbourne as anywhere in the Mebourne CBD is as good a place to have an IP as anysuburb? (i.e will have no problem renting)[cigar]
TC
Please tell me you are not serious!!
Put money into dodo farms before you buy an inner city apartment.
The market is saturated, and is being saturated more and more with every building being built.
I rent, in melbourne. It is much cheaper than throwing money at the banks in the form of interest.
If you really must buy, find a reputable buyers advocate to get you a good property with good prospects of capital gain at a reasonable (if not under) market price.
I think Metropole properties do this, but their are others.
An investment should always be researched. If you don’t you will likely be swindled out of a lot more than a few months rent money.
Live, Learn and GrowLifexperience
Thanks Lifex,
Your words echo exactly what I have heard from others.
I think you’re all right..and I’ll take things slowly .e rent for a year or so..and see what these interest rate hokes do to the market.
TC
Originally posted by lifeX:You won’t get a house in a reputable inner suburb for $300k. Maybe a flat or unit.
For a family home around the 300k range, I’d consider Boronia, Ferntree Gully.
Frankston South (in the High School Zone)
Edithvale area (near bay)
But you want to get a hold of at least $450k to buy anything similar to your description. Then try caulfield area, brighton area, surrey hills area, many many others.
I’d recommend renting in melbourne to get a feel for the city first. This will also help you find and secure a bargain as the pressure wont be on to buy in a hurry.
Live, Learn and GrowLifexperience
Funny, I alway thought there was a north and west side of Melbourne??? It never fails to amaze me these easterncentric people-had a huge argument with a lady who after telling me how bad the western suburbs were for over an hour admitted she had never even been to that side of the city!!!!
Take the Edgewater estate for example in MARIBYNONG-surrounded by water , parks, running track and all 8kms or a $15 taxi ride from the CBD and FAR better value than places 7 times the distance out on the eastern side. Only a matter of time before all these deluded people catch on and move accross and push the prices up and when they do…yeee haaaaaaa [biggrin]
So to all the easterners-keep paying through the nose while I laugh myself all the way home [biggrin]
blogs,
I like the west side, I just don’t know it that well. I was just throwing in a few suburbs as as start.I doubt you would get a house for family living under $400k in Maribyrnong.
Still you are right, there are definately some good value areas over tha West side.
[thumbsup2]
Live, Learn and GrowLifexperience
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