VIC Melbourne 800K PPOR

Discussion in 'Where to Buy' started by SuperWoman, 29th Oct, 2019.

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  1. SuperWoman

    SuperWoman Active Member

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    Hi All,

    I need your advice.

    My kids currently go to a school in Endeavour Hills, Vic. Both parents work in the city.Kids are very young with one in the kinder program.

    We are thinking of buying a reasonable PPOR for 800K. We need a balance of a good place to raise kids as well as a good investment.

    1.We have been debating buying in Rowville as the kids can take a bus to school

    2. We reckon Rowville is a better surbub as a whole and might appreciate more than Endeavour Hills. Besides, we do have another IP in the city of casey.

    3. I reckon Rowville is closer to going to the.city than Endeavour Hills

    What are your thoughts? Is there any other surbub that will offer a short commute to school at the same time providing quicker access to the city?

    Thank You
    Superwoman!!
     
  2. SuperWoman

    SuperWoman Active Member

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    Any response PC gurus?
     
  3. The Y-man

    The Y-man Moderator Staff Member

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    No :D

    The school factor limits the range dramatically, and I am assuming your are talking commute time by car. Sounds like you have analysed and found a solution that works for you, so I personally don't have much to add. If it was PTV factor, I'd risk moving closer to the Dandy line ~ but then it may NOT suit your lifestyle.

    The Y-man
     
  4. Westie

    Westie Well-Known Member

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    Personally, I'd take Rowville over Endy Hills any day of the week. Will your kiddos be okay to get the bus to school, on occasion you'd have to drop/pick /em up, I mean it'd add to the time taken.
     
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  5. The Y-man

    The Y-man Moderator Staff Member

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    ...or Doveton? :D

    The Y-man

    p.s. I am working on old assumptions about Dovy from a decade ago - things may have changed....a lot!!
     
  6. Westie

    Westie Well-Known Member

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    I hope they have! Dovy/Hampton Park were termed lawless badlands by one REA I spoke with.
     
  7. SuperWoman

    SuperWoman Active Member

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    Thanks for the responses.

    Looks like Rowville is a better surbub of the bunch.... with Wheelers Hill/ Ferntree Gully a bit further.

    Would you consider a townhouse in Wheelers Hill vs older house in Rowville/ Ferntree Fully?
     
  8. The Y-man

    The Y-man Moderator Staff Member

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    Would always go for house than units if the price is same or only slightly more ~ especially in mid to outer area.

    The Y-man
     
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  9. Mouse

    Mouse Active Member

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    Currently living next to Endeavour Hills and across the road from Rowville. Just bought a PPoR with a similar budget, with primary considerations of proximity to the city, capital growth potential and schooling options for two kids, below is the thought process I've gone through:

    - Rowville is a good suburb with a solid track record of capital growth but unless you are happy with catholic or private schools, the choice of good government schools is fairly limited. It did not cut it for us and we focused on other options.
    - Although many suburbs offer good primary schools, just a few have high-performing secondary schools. This plays a significant role in price appreciation, you can have a look at prices inside and just outside of Glen Waverley Secondary or McKinnon Secondary to see how much difference a good secondary school can make.
    - You can get into GWSC school zone or Box Hill High School zone for example, but this may require a compromise on the type of property. This budget is just enough for a 3br townhouse or villa on ~200sqm. This limits the capital growth potential.
    - The infrastructure development in south-east is happening but other parts of the city getting more investment from the government. Getting to the city by car won't be faster from south-east anytime soon and the Metrotunnel will help with trains a bit but it won't help those living in Rowville.

    Having calculated the above we've bought into the Viewbank College Zone. This is around 15km from the city as crow flies or about 30min by train to Flinders St. Also this area is getting significant infrastructure improvements with North East Link, so I think it will appreciate faster than Rowville.
     
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  10. Triton

    Triton Well-Known Member

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    Smart move, hope you got a good deal. There were some seriously good buying opportunities in viewbank in late 2018 and early 2019.
     
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  11. SuperWoman

    SuperWoman Active Member

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    Which is a better surbub from a CGT perspective...
    Keysborough vs Rowville?
     
  12. Mouse

    Mouse Active Member

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    I have no opinion on Rowville, to be honest, as I don't see the drivers that can trigger capital growth significantly higher than average - there is a lack of good public schools, public transport is non-existent, both political parties abandoned plans to build a train line to Rowville so it's unlikely to happen and planned tram from Caulfield won't help much, if it's going to happen at all.

    Speaking of Keysborough, I would not touch anything below Dandenong Bypass which is essentially all-new estates. The new land subdivisions are being added all the time, there is a significant population growth but on small patches where new ultra-dense townhouses are being built. Also, they started pre-sales of apartments next to Somerfield, this is outright crazy. There is a pocket next to Haileybury college - between the parklands and the college, which holds the value well but it's already too pricey to my liking, I am not sure you can find much for 800k there. Beyond the parklands - just drive up there and see - the abundance of land/new builds/dense townhouses/now apartments, no shops and just one planned primary school. No scarcity and/or value. Also same issues with schooling and transport as with Rowville.

    In this area, I would try to get into a house with good land in Springvale closer to the station, probably above the train line and closer to the station as the budget allows. Living in Springvale is not everyone's cup of tea but it's got good transport links, a few good cheap Christian schools and big part of it in the zone for Wellington Secondary which is a half-decent school. Also, it's close to Monash uni and with Clayton prices well above 1M, it's a no-brainer that the ripple effect will reach Springvale sooner or later
     
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  13. The Y-man

    The Y-man Moderator Staff Member

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    Not sure - could go either way.

    I don't mind RV as long as it is close to stud park SC in walking range of 901 and 900 routes. Mainly driven by light industry employment in the area.

    KB is much more vibrant, and agree with @Mouse the Springy South side is where the asian action is, and the big temples there are sort of attractors too IMHO.

    Given a choice, I'd say KB would be the better grower.

    Wait.... you said CGT ....as in Capital Gains Tax..... :D Ok, Rowville, as it will probably have less CG, and therefore less CGT :eek::eek::eek::D:D:D

    The Y-man
     
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  14. 3rd Drop

    3rd Drop Well-Known Member

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    I was on the same boat this time last year. My budget was a bit higher and I have attended lots of OFI and auctions in both Rowville and Wheelers Hill. In Rowville, you can get better quality and newish houses but a bit away from good school, college and shopping whereas Wheelers Hill is closer to everything. Lastly, I decided to buy a house in Wheelers hill considering kids school, college and future university (Monash). I bought in February and now very happy with the pre-election deal. If you can extend your budget a bit, there are still houses available in the $900k mark. Good luck!
     
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  15. craigc

    craigc Well-Known Member

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    Hi Superwoman, given your initial request to keep kids close to travel to school in E/Hills.
    Having previously lived in both,
    I’d say Rowville is better for CG than E/Hills. Closer to the CG spill over / ripple effect from G/Waverley & W/Hill.
    Neither is great for public transport to the city but if driving Rowville is definitely better. You join the Monash from Wellington or Ferntree Gully Rd on the city side of the Eastlink merge. It’s a lot easier.
    W/Hill townhouse will be a fair bit more travel time to E/Hills if keeping the same school. Will be easier again travel time to the city though. Could get you in to Brentwood school zone if considering the option of changing schools.
    If going Rowville suggest walking distance to Stud Park or Wellington Village shops.
    Also west side of Stud Rd is rezoned HD and lots of apartments so avoid as difficult to get in and out of traffic if for PPOR.
    Also note the old Kingston Links golf course is being converted to new land / houses. Not sure on prices and likely out of reach but may be an option.
    Good luck
     
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  16. SuperWoman

    SuperWoman Active Member

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  17. SuperWoman

    SuperWoman Active Member

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    Thank you Craig,

    Just noticed that Lysterfield has a higher median price. of 1M.
    Is there an explanation to that besides the large blocks. Just me thinking that may be another good spill-off since you mentioned that point.
     
  18. SuperWoman

    SuperWoman Active Member

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  19. SuperWoman

    SuperWoman Active Member

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    What is your take on the houses surrounding Maranatha Christian in Endeavour Hills, arround Reema Blvd?

    Can the same be told about that area holding value?
    I have seen nice, huge houses compared to the rest of the surbub there...
     
  20. SuperWoman

    SuperWoman Active Member

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    This is another consideration i am making.
    However, not very sure of E/Hills as a surbub. Hence willing to do the commute if the sacrifice is worth it.
     

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