Hi all, I'm new to the forum and have spent a few days reading through various posts, really grateful for the valuable information! My fiancé and I are getting married in 2 months and are looking to buy our first PPOR. We have a max budget of $600k however would be more comfortable closer to the $500k or under range. My partner and I work opposite directions, Cheltenham and Warragul respectively. We prefer to stay in the SE area of VIC. With our budget we have been looking at Skye, Carrum downs, Langwarrin, Cranbourne, Narre warren, Hallam, Lynbrook and Hampton park. We are happy to live in a 2 bedroom unit/townhouse as we do not have plans to have children, however would prefer to find a 3 bedroom with 2 car parks if possible. We aren't fussed about having a large block of land as we do not want to spend much time gardening. Somewhere not too old would be preferable as we do not have time to do large renovations. Please let me know if you can think of other areas that would be suitable for our situation or if I should I avoid the areas mentioned. Any input would be greatly appreciated. Thanks!
Out of all those suburbs Carrum Downs/Skye/Langwarrin and possibly Cranbourne would be right on the money in the 500-600k range. Easy drive to Warragul (head east through Cranbourne and get onto the Monash freeway in Berwick or a bit further out at Cardinia Rd, going this direction in the morning you're going against most of the traffic and vice versa in the afternoon) Straight up the Frankston freeway to Springvale Rd to get to Cheltenham, also the Mordialloc Bypass is due for completion in a couple years making it even easier. It would be a pain to get to Cheltenham from Narre Warre, Hallam, Lynbrook and Hampton Park in peak hour traffic. Even heading west from Cranbourne to get to the Frankston Freeway would be very busy in the morning, and the traffic heading east on Hall Rd into Cranbourne in the afternoon is crazy sometimes banked up 2km from the Westernport Rd roundabout.
Hi. My suggestion would be to look at Cheltenham 3192 and/or from say Highett down to Parkdale. Your money won't go as far as in the areas you mentioned but that's kind of why they are better areas to buy. One of you will be close to work while the other will be 'against' the traffic. Good luck!
Noble Park would be ideal - located quite central for each persons work. Can get a brand new 3bdr townhouse with double garage for $550k-$600k walking distance to the brand new train station. Lots of growth in the suburb as well. 1-5/20 Stuart Street Noble Park Vic 3174 - Townhouse for Sale #126760698 - realestate.com.au
This isn't a bright idea. You'd be paying the juicy profit the developer is wanting to make. Look for a house that's a few years old and you'd likely pay less.
Also why buy in a rubbish area because it's handy for work commute? What if work changes for one or both?
Always remember to factor in resale value, expected rental returns over the long term and any local infrastructure developments/plans.
It's not a rubbish area and is growing very quickly. Most young couples I know end up outgrowing a 2bdr villa unit very quickly (which is all that they would afford in the previously mentioned 'better' suburbs.
Yes, buy a villa/townhouse, something smaller and nicer, only a few years old. Having a reduced purchase price you should be able to put heaps into an offset account, the result being more equity toward a bigger place in a few years time (kids) or if you move for work and turn it into an IP Make sure you read @Terry_w links to "turning a PPOR into an IP Welcome also
Come to Upper Beaconsfield. We just had our place bought three years ago for 500k valued at 900k. What the area needs is more people interested at these extremely high prices, that way these prices will become solidified. I look at Pakenham/Clyde and still think up here is cheap!! I personally wouldn't buy in Pakenham/Cranbourne for 600k. A little bit more will get you into the Berwick Views estate, and if it's 600k limited. The only place worthwhile under 600k I can think of in the area are Timbarra estate Berwick, or next option Hampton Park (pref on pound rd near the freeway entrance/dandenong industrial cbd). Pakenham, Cranbourne, Clyde, Officer are all migrants and fhb. Whatever loan amount they get their hands on they spend, hoping not to miss out the houses doubling every 10 years and all.
