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VIC $550k - PPOR - First Time Buyer

Discussion in 'Where to Buy' started by SoroSoro, 28th Aug, 2016.

  1. SoroSoro

    SoroSoro Member

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    I'm considering going after the stamp duty concession and purchasing my first property, living in it for 12 - 36 months and then moving out to either rent or purchase another property. It's hard to turn down up to $15k when I'd lose it completely if I buy an IP first (if I'm understanding the law correctly).
    • Looking for 3 bed minimum and prefer a house, but a townhouse with a garden might work
    • $550k (max 600 to get the concession)
    • 30 min by train to CBD (slightly farther for nicer areas?)
    • History of good Capital Growth (as this will eventually become an IP)
    • Safe area
    I've looked at St. Albans (concerned about safety) & Hadfield (nothing around) but thought I'd throw it here for any other good ideas.
     
  2. SoroSoro

    SoroSoro Member

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    Wanted to throw in - we're a couple with a toddler so park areas would be nice as well.
     
  3. Air_Bender

    Air_Bender Well-Known Member

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    Is it fair to say you're only interested in Western suburbs?

    Would you ever consider something in the North East (Mill Park, Epping, South Morang etc)?
    Because you could easily find something that matches your requirements up here.

    Cheers
     
  4. SoroSoro

    SoroSoro Member

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    Those areas are a bit farther than I'd like from the cbd by train. Commute would end up being 1h+ each way.

    I've looked southeast as well Clayton and Springvale townhouses might be in my range. Then I worry about CG!
     
    febstyle likes this.
  5. SoroSoro

    SoroSoro Member

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    Your post made me look a bit more in the northeast. Perhaps Heidelberg or a touch farther north. I'll keep looking.
     
  6. Air_Bender

    Air_Bender Well-Known Member

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    Ta.

    But just a heads up, prices in Heidelberg have shot through the roof in recent years. I'm not sure if you'll find something within your budget but you never know.

    There's also the safety factor you need to consider in Heidelberg. There was a time when break ins were quite common in the area. Hopefully that's no longer the case.

    Good luck with your search.
     
  7. rjw180

    rjw180 Member

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    You might get lucky in MacLeod. It's probably just over the 30 minute mark to the city by train but is reasonably green and generally a nice area.
     
  8. SoroSoro

    SoroSoro Member

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    Thanks - I'll have a look! Any other areas?
     
  9. Air_Bender

    Air_Bender Well-Known Member

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    Have a look at Reservoir and Greensborough. Both have access to CBD via train but you might have stretch your budget a little in Reservoir.

    Good luck.
     
  10. MrFox

    MrFox Well-Known Member

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  11. oki doki

    oki doki Well-Known Member

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    Location:
    Canberra
    for houses
    Bundoora (might touch 600k)
    Greenvale (you can get a home and land near mickleham rd for under 550k - 21 kms from cbd )
    If you dont mind being in the flight path then Attwood (touching 600k)
    Gladstone Park (18ish km from cbd)
    *only negative with above 3 suburbs is u have to goto Roxburgh Park station which could be touching 40mins to flinders st or more if southern cross (around the loop).
    Altona (? google the distance from cbd)
    Laverton
    Altona Meadows

    there are other suburbs but i dont know your criteria of 'safe' suburb...would u consider Caroline Springs....??
    For townhouses - I think u may have more choices
     
  12. Big Will

    Big Will Well-Known Member

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    Both places you would need to do significant work to get a house for sub 600k, which being a FHOB with a toddler it is unlikely you will want to refit a whole house then again maybe they are okay living in a house with fixtures being 20-30 years old.

    I very much doubt you will find a house at 550k in Macleod except one that will need to be bulldozed.
     
  13. Big Will

    Big Will Well-Known Member

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    I don't know the West to well but that would be the safest bet for a move in liveable house for the price range.

    If you were looking for the north east your best bet would be Epping, Mernda, maybe Diamond Creek which will have trains to the city.

    43 Everleigh Drive Diamond Creek Vic 3089 - House for Sale #123476482 - realestate.com.au - 560-610k quoted
     
  14. SoroSoro

    SoroSoro Member

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    How about Keilor or Sydenham? Water gardens station is about 30 min.