VIC Altona North townhouse or Tarneit/Wyndham Vale house?

Discussion in 'Where to Buy' started by goproperty, 31st May, 2017.

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  1. goproperty

    goproperty Member

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    Can someone give me some suggestion please. My budget is around $500k-$600k.
    With that budget, I can either get a new 2 bedroom townhouse in Altona North or a 400-500 sqm land with newish house in Tarneit/WV and very close to vline station.

    It is for long term investment (10-20+ years), so which one would you recommend me to get? By the look of SQM data for vacancy rate and median rent, Tarneit and WV are doing quite good.

    Thanks!
     
  2. MikeyBallarat

    MikeyBallarat Well-Known Member

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    NEITHER! Stay away!! Run as fast as you can from both options!

    I would be looking at an established heritage home in Geelong or well located triple fronted home in Sunbury instead. If you are dead set on the south west look for a well located triple fronted property near Werribee station and town centre. St Albans is also worth considering.

    No need to pay the new property tax and soak up the developer margins.

    Altona is a nice area but I would recommend a house with land (probably over your budget, and my budget too for that matter). WV and Tarneit are horrid, degentrifying at a rapid rate, and don't deliver the amenity that established suburbs do. If you wanna be on the V Line why not look a little further out at Geelong, which is close enough to be a suburb of Melbourne, heritage homes galore, amenities everywhere (including its very own CBD which ***** on Melbourne's IMO), and more beaches than you can poke a stick at. The only thing Tarneit/WV have going for them is that the houses are new, but unless it's for a PPOR and you're willing to pay a premium because you like the new style, why buy new?

    Apologies for the snarkiness, but save your money - there are plenty of ways to spend money wisely in VIC, and buying a house in Tarneit or Wyndham Vale is not one of them.
     
    Last edited: 31st May, 2017
  3. goproperty

    goproperty Member

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    Thank you for the response, what is a triple fronted property?
     
  4. MikeyBallarat

    MikeyBallarat Well-Known Member

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    The older 60s and 70s style of home - the ones that look like this:
    [​IMG]
     
  5. melbournian

    melbournian Well-Known Member

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    i would go werribee or geelong or Altona Meadows (buy an hold house - not townhouse)

    tarneit and WV - has already gone up (as it moved). I don't think it is degentrifying - don't listen to ppl who have not been there. IT is primarily an indian demographic area in tarneit. I would be more focused on werribee and the amount of infra spending in the area.
     
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  6. goproperty

    goproperty Member

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    does an old house need a lot of maintainance? Is there anything I need to pay attention getting an old house? thanks
     
  7. melbournian

    melbournian Well-Known Member

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    depends on the condition. bought a couple of 70s houses - did some minor touch ups and got it rented no issues.
     
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  8. Michael Barnes

    Michael Barnes Active Member

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    Hoppers Crossing is going great guns right now
     
  9. willister

    willister Well-Known Member

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    A lot of the Altona Meadows houses near the Laverton station is pretty small in terms of land size - 400-500m2 types.
     
  10. melbournian

    melbournian Well-Known Member

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    that is what you want 400sqm (no garden req)
     
  11. willister

    willister Well-Known Member

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    A lot around Altona Meadows is not worth knocking down and subdividing, simply because they are fairly new.
     
  12. melbournian

    melbournian Well-Known Member

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    you're right but for that price range only a matter of time (where else can one buy?)
    I saw the auction 125 albert st preston was crazy 770K and saw 129 albert st sold 850K in a space of 2 weeks

    need to find new suburbs (that hasn't made that leap) - all signs pointing to geelong actually
     
  13. willister

    willister Well-Known Member

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    True, good value atm. Another factor to throw in, there may be a price correction? This may drag all, crystal ball stuff, but nonetheless, a third element.
     
  14. melbournian

    melbournian Well-Known Member

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    That is why need to have a dev route as a standby otion. Got a couple sites going to get permits (one double, one 10-14 TH). one of the ips I bought is currently has the highest rent in the whole suburb so might keep it.