VIC 900K budget Best area to buy House in Melbourne

Discussion in 'Where to Buy' started by James Baker, 1st Sep, 2017.

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  1. James Baker

    James Baker Well-Known Member

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    Hi there

    I have a budget of 900k to buy a house

    I work in Hawthorne VIC 3122 and any good area within 20Kms would be desirable
    The only requirement is a minimum of 3 bedrooms
    I am ready to sacrifice space for a good Locality
    It will be used as a PPR

    Cheers
     
    James Baker, 1st Sep, 2017
    #1
  2. Ouchmyknees

    Ouchmyknees Well-Known Member

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    Preston? Reservoir?
    Given your budget and criteria it will be very unlikely for you to find anything in the East side of Melbourne unless it is far out. So I think North is your best bet.
    There are good suburbs in West of Melbourne also meet your criteria but it is going to be a pain in terms of commute, imho.
     
    Ouchmyknees, 1st Sep, 2017
    #2
  3. Big Will

    Big Will Well-Known Member

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    Watsonia & Greensborough.

    Think Preston would be out of your price range unless you are buying a dive.

    I might be biased but I live in Watsonia and I used to work in Toorak and is easy to get to work then... I now work in Fitzroy.
     
    Big Will, 1st Sep, 2017
    #3
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  4. supersam80

    supersam80 Well-Known Member

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    It's pretty easy to buy a 3 bed house with 20km of hawthorn, and on the same train lines. Start at Ringwood and work your way out
     
    supersam80, 1st Sep, 2017
    #4
  5. RedHat

    RedHat Well-Known Member

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    I hope you have sorted out the deposit and stamp duty for 900K purchase which will be around 140K+ at 88% LVR. Asking because in other thread you mentioned that you are about to get Australian residency which could mean you moved here recently hence less deposit (I could be wrong though)
     
    RedHat, 1st Sep, 2017
    #5
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  6. The Y-man

    The Y-man Moderator Staff Member

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    Another PC member working in Hawthorn......;)

    The Y-man
     
    The Y-man, 1st Sep, 2017
    #6
  7. The Y-man

    The Y-man Moderator Staff Member

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    Do you drive in or accept the challenges of PTV?

    The Y-man
     
    The Y-man, 1st Sep, 2017
    #7
  8. The Y-man

    The Y-man Moderator Staff Member

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    The Y-man, 1st Sep, 2017
    #8
  9. google boy

    google boy Well-Known Member

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    buy in lalor mate
     
    google boy, 1st Sep, 2017
    #9
  10. The Y-man

    The Y-man Moderator Staff Member

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    IMHO Commute from Lalor to Hawthorn would be a pain - either car or PTV.

    The Y-man
     
    The Y-man, 1st Sep, 2017
    #10
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  11. rjw180

    rjw180 Well-Known Member

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    rjw180, 1st Sep, 2017
    #11
  12. James Baker

    James Baker Well-Known Member

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    I have the finances sorted out

    Cheers
     
    James Baker, 1st Sep, 2017
    #12
  13. James Baker

    James Baker Well-Known Member

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    One more quick question.
    Anything to watch out for while buying a house?
    In New Zealand there is a major issue of monolithic houses which have to be avoided like the plague
    How important are Pre purchase inspections in Melbourne?

    Cheers
     
    James Baker, 1st Sep, 2017
    #13
  14. James Baker

    James Baker Well-Known Member

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    James Baker, 1st Sep, 2017
    #14
  15. James Baker

    James Baker Well-Known Member

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    Both options will be used

    Cheers
     
    James Baker, 1st Sep, 2017
    #15
  16. The Y-man

    The Y-man Moderator Staff Member

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    Depends on how long you intend to keep it before blowing it down/rebuild.
    In any case a building/pest inspect can be handy as a negotiating tool (we get it done prior to offering).

    The Y-man
     
    The Y-man, 1st Sep, 2017
    #16
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  17. The Y-man

    The Y-man Moderator Staff Member

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    Note they didn't show any photos other than the kitchen - the inside is likely to need a "bit of work".

    The Y-man
     
    The Y-man, 1st Sep, 2017
    #17
  18. James Baker

    James Baker Well-Known Member

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    I am buying the house to live in it for the next decade at least

    Have no intentions of flipping it for capital gains or would want something which will need major repairs or rebuilding in this period

    Cheers
     
    James Baker, 1st Sep, 2017
    #18
  19. The Y-man

    The Y-man Moderator Staff Member

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    The Y-man, 1st Sep, 2017
    #19
  20. James Baker

    James Baker Well-Known Member

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    How accurate are the google map times in Melbourne?

    Cheers
     
    James Baker, 1st Sep, 2017
    #20
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