VIC Help me by Rating these houses in Reservoir MLB

Discussion in 'Where to Buy' started by James Baker, 10th Sep, 2017.

Join Australia's most dynamic and respected property investment community
  1. James Baker

    James Baker Well-Known Member

    Joined:
    21st Mar, 2017
    Posts:
    280
    Location:
    Melbourne
  2. JL1

    JL1 Well-Known Member

    Joined:
    24th Dec, 2016
    Posts:
    1,134
    Location:
    Australia
    Im not sure what VFM stands but i do live in east reservoir so can tell you a few things.

    I'd probably say theyre all 6 in one half a dozen in the other. The only one on your list i personally wouldnt touch is bouldrewood parade and thats just because its so busy (also on the police notification pages a lot for unsafe drivers).

    My place has council housing on two neighbouring blocks and so far have had the spotlights stolen off a friend's car one night (street parked), and when i first moved in i found a crack pipe in the front garden. Other than that, (touch wood) no problems. I find reservoir a very friendly place to live. First place ive ever known my neighbours and often have a beer with them. They have a little kid in a local school and i walk to and from the station at night. Yes there are probably more opportunist criminals around, but as long as you're smart about it (ie. Dont leave your bike on the front lawn) its fine.

    I did my due diligence by checking train station crime rates (publically available data). Stay clear of thomastown, otherwise the south morang line is not bad. My preference was to live towards the south of reservoir because of cafes, restaurants, and slightly closer for when i cycle to work.
     
    James Baker likes this.
  3. James Baker

    James Baker Well-Known Member

    Joined:
    21st Mar, 2017
    Posts:
    280
    Location:
    Melbourne
    Thanks

    VFM- Value for Money

    Cheers
     
    JL1 likes this.
  4. wa2

    wa2 Member

    Joined:
    24th Jun, 2016
    Posts:
    20
    Location:
    Sydney-Jakarta-Melbourne-Brisbane-Singapore
    At a glance, 9 Glenvale seems to be the best option (land size, brick veneer, backing to a reserve). Until you notice the electric grid behind it..
     
    James Baker likes this.
  5. Big Will

    Big Will Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,517
    Location:
    Melbourne, Australia
    153 Boldrewood Parade Reservoir Vic 3073 - House for Sale #126376070 - realestate.com.au - Little land content paying mostly in house - personally I wouldn't touch but up to you.

    45 Keon Parade Reservoir Vic 3073 - House for Sale #123193854 - realestate.com.au - Larger land content but has a lease in place (not sure how long) unrenovated so would require work unless you were okay living in this.

    9 Glenvale Road Reservoir Vic 3073 - House for Sale #126347654 - realestate.com.au - Seems good but has big powerlines in the back yard - no link between them and cancer but has a stigma attached to them but you will buy in cheaper and sell cheaper in the future.

    1/7 Fordham Road Reservoir Vic 3073 - House for Sale #126260222 - realestate.com.au - Similar to Boldrewood all house little land

    97 Barry Street Reservoir Vic 3073 - House for Sale #126210674 - realestate.com.au - Small land and unrenovated

    53C Miranda Road Reservoir Vic 3073 - Townhouse for Sale #126210638 - realestate.com.au - Similar to Bolderewood all house little land.

    My choice from a future CG prospective is Keon but you are on a major road, with commercial/industrial across the road and is being advertise to developers. Is there much CG left in Reservoir who knows but none of them are what I would want to jump out of bed for.

    However as you are purchasing as a PPOR you have a different requirement to what an investor maybe after and all investors will value things differently.
     
    James Baker likes this.
  6. melbournian

    melbournian Well-Known Member

    Joined:
    2nd Sep, 2015
    Posts:
    3,038
    Location:
    melbourne
    as a PPOR the glenvale and barry st would be the better choice. for CG there are other areas which offer better returns

    The bus is very frequent in many areas which can bring you the station in under 5 minutes. To be honest, I would rather that than walking

    safe ? you go back 7-8 years ppl will look at you and frown if you talk about preston and reservoir and make jokes of having the steering wheel lock if you park there. there is still parts of the areas that have that and even the better parts attract crims - no different to overall parts in Melbourne.
     
    James Baker likes this.