VIC H&L in Outer Melbourne

Hey guys, one of the areas I want to do more research on for next purchase is house and land in the outskirts of Melbourne, such a Werribee, hoppers crossing etc,


I read many threads on this topic and got some really good information (thanks to all who contributed) but I just had some following questions:


1. Are there any good estates currently available that you can recommend I look into?


2. Is a quicker or longer title registration desired? I understand that a longer registration period means smaller initial outlay and there may be some GC to be had during this time am I correct? What are peoples thoughts on what to choose? Something that is registered this year or 2018?


3. What are the preferred lot sizes when buying h&l? 350m2 +? don’t touch anything small?


4. What would be the ideal investment stock sized dwelling? I have heard 170-200m2 is idea size, anything bigger would be overcapitalising? What's the rough cost to construct something like this? Single storey? Say 230k?


5. Can anyone recommend a decent builder?


Thanks guys, and if you have anything else to add such as areas, desired pockets, what to choose or look out for that would be greatly appreciated. I know there is a juvie detention centre planned in the south Werribee area so I will try avoid that.

 

They've dropped the juvie centre from South Werribee

 

I think you're on the right path. I'm looking at similar to what you mention above in Tarneit

 

I'm going to follow this thread. I too am curious about what's ideal block size. Should it be 250 - 300 m2?

Why not 300-350 m2?

Why not 350-400 m2?

What about 400-450 m2?

 

Anyone of those...you just need a custom builder to build it well.

You better your skates on the days of land under 200k western Melbourne is going the way of the Dodo...

I bought my land for 149k only 5 months ago...it is now worth over 180k based on current comparables...and that it is only 279sqm. I expect by this time next year...you will struggle to get under the 200k mark....

 

read/research all @sash @melbournian on land and house packages

 

I think it is not the size so much you should look at the widths - 10.5 would be the minimum as why as you can put 3X2X2 or 4X2X2. (which would make a happy median of 300-400sqm). going lower puts yourself at risk for only 1 carpark (as you would need 2 carpark spaces side by side ) - as train stations or nearby shopping malls would not necessarily be couple hundred meters to you. Also (security) you would rather have your vehicles locked up in the secure garage. Even if you did 3X2X2 and decide to do an extension you could do so but not with the carpark.

my blocks which I have done are 315sqm,315, 350 - sold one recently with lots of interest 315sqm. All have 2 carspaces and are rented out easily.

there is no point to get larger block in H&L estates unless you are really building a PPOR and there are no subdivisions allowed as they are strong covenants in place that prohibit this.

I would now look at Solar etc as other incentives or ACs in all rooms. or something that makes it stand out among the rest. One thing to note is landscaping and drainage to ensure it is long lasting and you don't go back and have to find water pooling under your slab. Also using a raft slab and ensure proper weeding (like if you gonna mulch it and it ain't gonna changed) I killed the grass with multiple $5 pool salt bags and vinegar before putting a mulch mat. So really a fair bit to think about.

 

MTR...when did you have the change done....you are man now?

I thought the next logical Avatar would be Barron Trump...

 

The stats here are crazy :

Melbourne's most affordable suburbs

 

Thanks for all your replies guys.

Ok noted, minimum frontage 10.5 so as to fit a minimum 3x2x2 on there.

Between the Tarneit, Werribee, duneed, Armstrong Creek what are your picks and which estates? Werribee closer to Melbourne as has its own station but plans for new Torquay rail upgrade too which might see Armstrong Creek have a station. Anyone got anymore info about this upgrade? I'm always nervous about infrastructure plans. One wrong election and it could be scrapped.

How about purchase and build strategy? Any insight to this? A later titled lot means lower initial outlay and could enjoy some CG between now and completion. Is that the preferred strategy? i.e. to drag out the titling period? If I was going to put a deposit down, I would like to do it before the 1 July FHB floodgates open.

Cheers

 

I would choose Tarneit and Werribee because then you are near lots of employment centre options: the cbd, the airport, werribee cbd add the government are putting lots into this.

Duneed/armstrong - you're only near Geelong. Which is doing well but won't capital city generally outperform regional?

 

If this is your investment strategy, I'd look into Werribee or ideally areas with little to no land left, for example Keysborough and Lyndhurst. Value of land is in its scarcity - H&L or established - so I think you need to factor this in so you don't end up building a house in a huge estate in a suburb with endless supply of land. I liken building H&L to buying a new apartment in a huge tower.

It might return great CG in the short term if you buy the block at a good price, give you depreciation benefits, stamp duty savings etc. but I feel that in a few years when the areas become more established and there's an oversupply of H&L homes up for rent, this is where the market may change.

As for builder, I'd recommend Henley, Carlisle or Boutique. Stay away from Metricon and Porter Davis.

 

You are paying a premium for these builders...not worth it....save yourself 30-50k and go with a good mid sized builder.

 

I got a block 356sqm in melton 10.5 m any builder u suggests for investment turnkey I want 4b/2g/2b

 

any thoughts on the mirvac estate going in at mickleham or the other at donnybrook - it feels as if these mirmac like sponsored developments sell out in now time and have relatively good standards of build... (tullamore at doncaster, jack rd cheltenham (albeit townhouses) - is it hype or any value getting in early?

 

I'm also looking at something similar in these suburbs - Wyndham vale, Rockbank, Melton south and Tarneit.

Just unable to decide which suburb is better than the other at the moment.

 

What rent would you get for 4/2/2? What's the cost of land and the build?

 

Hey guys, in the last 6 month my partner and I acquired a few small blocks 12.5x21m thats due for 2018 titles (Officer, Werribee and Mickleham ), in the process of finalizing with builders, I read alot on the threads that people are going for cookie cutter 16 sq homes on these blocks, why hasn't people ever suggest going double storey on those? That way you can fit something like 4 bed 2 garage and 3 living on those rather than a shoe box 3 bed 1 living. The way i see it, everyone buying those blocks are going to put 3x2x1 shoe boxes on there, that way I will have a unique product when it comes time to sell/rent. Happy to hear the other side of the arguement

 

What's the cost of going up? What rent can you get? Have you looked at what others are renting? Are you sure your product has demand? Calling @Cactus @sash @Connor

 

There is no point over capitalising by putting a double storey say for example the median of the suburb is 400k land say u can 200k and u build for 175k u still below the median but if u pay 265k for the build not only will it cost more in repayments but it isn't going get a high value 4x2x2 is more than sufficient 313-350sqm blocks

If u are building say in Doncaster def the double storey is the way to go. Haven't seen any single villas build there in ages