VIC Melbourne CBD apartment (if you had too)

Discussion in 'Where to Buy' started by KDP, 5th Sep, 2017.

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  1. The Y-man

    The Y-man Moderator Staff Member

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    44 is actually quite big in this market. 35~40 is the norm. 44 is probably including balcony.

    I'm also going out assuming there will be very little loan on this purchase.

    The Y-man
     
    The Y-man, 6th Sep, 2017
    #21
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  2. Cimbom

    Cimbom Well-Known Member

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    I would advise her to look into an older building with character in the CBD proper (not Docklands) even if it's a bit above her ideal budget
     
    Cimbom, 6th Sep, 2017
    #22
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  3. KDP

    KDP Well-Known Member

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    Yes that's the plan. Was wondering if anyone has any suggestions of addresses to focus on.
     
    KDP, 6th Sep, 2017
    #23
  4. KDP

    KDP Well-Known Member

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    Thanks for all the comments and suggestions all, they're greatly appreciated and very helpful.

    It's definitely a lifestyle purchase but I just want to set it up as best as possible. I definitely know and have communicated that investment wise it makes no sense to purchase in the CBD but the mind is set. Just trying to assist to make the best purchase possible in case there's a need to sell in the future.
     
    KDP, 6th Sep, 2017
    #24
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  5. The Y-man

    The Y-man Moderator Staff Member

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    As long as it is in the free CBD tram zone, it will at least rent out easily in the future if she moves out, even if you find you can't sell it for much!

    The Y-man
     
    The Y-man, 6th Sep, 2017
    #25
  6. Kolyat

    Kolyat Member

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    When does everyone think CBD apartments will be good buying (if ever)? How much will they have to fall before anyone would consider it?

    I've always liked the lifestyle appeal but in current climate would not go near one.

    Hopefully this isn't too off topic
     
    Kolyat, 6th Sep, 2017
    #26
  7. The Y-man

    The Y-man Moderator Staff Member

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    ...or how much will the surroundings have to rise before it becomes "cheaper" in the CBD.

    Right now, the per sqm cost is higher than many of the inner suburbs. When we see inner sub prices go up, then the market will probably push back into the CBD.

    The Y-man
     
    The Y-man, 6th Sep, 2017
    #27
  8. Zeehan

    Zeehan Well-Known Member

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    Good to know. Thanks, Y-man.
     
    Zeehan, 6th Sep, 2017
    #28
  9. PorkBellyLover

    PorkBellyLover Active Member

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    Since a lot of people has given their opinion from investment point of view, which I agree to, I'll help a bit from the lifestyle point of view. Not sure what your mom's lifestyle is like, but here's some pointers:
    1. Spencer st between Flinders and Bourke are mainly backpackers area
    2. King st has plenty of night clubs and "gentlemen club" *wink wink*
    3. William & Queen st are mainly offices. Packed with professionals during the day, but quieter at night compared to the other places in CBD
    4. Flagstaff train station sometimes is skipped by the city loop trains, especially outside of peak hours
    5. Swanston and Elizabeth St are the tourist area.
    6. Collins St is where the branded stores are located
    7. Chinatown is on Little Bourke St, between Swanston and Exhibition St.
    8. Spring St is another office based street, but bordering with East Melbourne, is a nice leafy street with open area and gardens
    9. North of CBD, A'Beckett and Franklin St, are student area
    10. Everywhere you go in Melbourne, we do awesome coffee. Coffee is life.
    Hope this helps! .
     
    PorkBellyLover, 6th Sep, 2017
    #29
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  10. purplecat

    purplecat Well-Known Member

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    purplecat, 7th Sep, 2017
    #30
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  11. The Y-man

    The Y-man Moderator Staff Member

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    The Y-man, 7th Sep, 2017
    #31
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  12. Ouchmyknees

    Ouchmyknees Well-Known Member

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    No car park can be a pain. It is perfect for airbnb!
     
    Ouchmyknees, 7th Sep, 2017
    #32
  13. The Y-man

    The Y-man Moderator Staff Member

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    The OP does not want/need a carpark.

    The Y-man
     
    The Y-man, 7th Sep, 2017
    #33
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  14. JDP1

    JDP1 Well-Known Member

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    Of all the reasons you have listed , point number 2 is the MAIN reason to buy an apartment :)
     
    JDP1, 7th Sep, 2017
    #34
  15. rizzle

    rizzle Well-Known Member

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    rizzle, 7th Sep, 2017
    #35
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  16. Cimbom

    Cimbom Well-Known Member

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    That is quite a good sized one. Pricey body corporate though
     
    Cimbom, 7th Sep, 2017
    #36
  17. ATANG

    ATANG Well-Known Member

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    ATANG, 8th Sep, 2017
    #37
  18. ATANG

    ATANG Well-Known Member

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    Well, OP said it already, she's having mid life crisis, so probably just wan to have lifestyle, and care less about making money or CG.

    350K won't get you anything decent, unless she is fine with those tiny boxy apartments in one of those new built super high rises? My80 has many stocks flooding in the market, you can easily fine something around that price tag, without parking of cause. I wouldn't call it decent, or nice... it's made for students.

    The best assets in the cbd would be those old historic ones, nearer to Flinders lane, preferably to the east end where all the high end shops are. It's also the most livable areas in the cbd, streets are clean, less people and more high end shops and hotels and also more greens. But anything around there for a one bedder would be easily over 500k.

    Dockland is actually nice to live, very close to the cbd. But not cheap either. One bedder would need $400k i think. I would avoid Spencer st, it's just my thing, don't like the area at all, too many trucks at anytime, endless constructions and super winds that could blow you away.
     
    ATANG, 8th Sep, 2017
    #38
  19. melbournian

    melbournian Well-Known Member

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    my personal fav buildings due to location and size and views.

    60 Siddeley St Docklands
    283 Spring St Melbourne

    No shortage in leasing and always sought after.

    I would personally stay away from spencer flinders etc a lot homeless ppl some even camp outsides the buildings
     
    melbournian, 8th Sep, 2017
    #39
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