VIC First home buyer who needs assistance

Hey Community

I am a new member of this forum as well as property investment, so thanks in advance to anyone who is nicely giving me any advice and suggestion. I am looking to buy my first property to live in and also wish it can bring me some capital gain after a couple of years. My budget is 500K - 550k and my requirements are easy access to PT and not too far away from CBD(35-45mins by PT). I have been looking at suburbs such as Reservior and Glenroy, with my budget I can buy two-bedroom, two-bath townhouses, which are acceptable for me, but I am just wondering if it is a wise decision to buy in those two suburbs, as there are so many similar developments going on in those areas. If not, any suggestion about where to buy a property actually meet my needs? Much appreciate any thoughts and helps Thanks

 

Buy a house with land in Thomastown or epping if capital gains is your top priority

 

Parts of Hoppers, the Mossfiel/Cambridge estates specifically, might just be within that budget. Other than that, Epping. Make Craigieburn too?

 

Hey Mate thanks to the advice, I'm off the web for couple of days, actually, I think your advice is really good. I have my eyes on some old house in Glenory, at 600K which are meeting my requirements, but I have never lived there, I was told these areas have some security issues, do you have any opinions on that? and if it is, will that be some factors affecting the future capital growth of the property? thanks, Alex

 

Thanks, Westie, the other mate also recommends Epping, which is a suburb that I have never considered, worth doing some research on. Do you know about areas such as Glenory or Thomastown? I am really interested, esepcally Glenory Thanks Alex

 

They do have a reputation. I personally don't live there. But often, with these types of suburbs, the stigma, public perception is much worse than realty. I would only buy if I'd it's a long term hold, Epping especially is earmarked as one of the activity centres as part of Melbourne 2050 plan.

 

I live in Thomastown. Not too bad as it feels when you look around first time.

MKS kebabs are good too

 

Thanks, mate, actually more than one person has recommended Thomastown which is a suburb that I have never thought it before, give me details please if you could, hows life living there, would it be too terrible traveling everyday to City for works? not a kebab fan, so that doesn't work on me hahaha thanks for your help

 

Hi Alex,
Sorry for the late response.

I moved from Cranbourne because of work. Initial days I didn't like much. But considering less than 20kms to CBD and houses are still around 500k mark, this can be transformed to a good suburb soon. Schools are not bad. Have train station. I heard this train service is not express. Neighbours are great too.

Epping Mall is ~5kms and useful.

 

Hi Alex,

So I fed your preferences to our property data platform. It is saying these 6 suburbs are likely to have something fit your lifestyle needs and budget.



Thomastown doesn't look really promising.