Melbourne PP0R under 900K

Discussion in 'Where to Buy' started by cr7, 1st Apr, 2020.

Join Australia's most dynamic and respected property investment community
  1. cr7

    cr7 Member

    Joined:
    1st Apr, 2020
    Posts:
    9
    Location:
    Tarneit
    Hi everyone,

    I am a newbie here and wanted to seek your opinion on buying a PPOR in Melbourne.

    I currently have a property in Tarneit, where I am living myself. I am looking for a PPOR which i will rent out after buying for couple of years, and then eventually move in by either renovating/KDRB/sub dividing (more inclined towards KDRB/subdividing).

    I am looking for property in good school zones and considering Heathmont as an option. I liked these properties :

    https://www.realestate.com.au/property-house-vic-heathmont-133093494
    https://www.realestate.com.au/property-house-vic-heathmont-133290922

    These are in currently in NRZ3 zone, decent school zones and close to station.

    1. Is Heathmont a good area to live in or I consider any other areas apart from Heathmont in that budget?
    2. Given the current situation with COVID-19, should I wait for some more time before buying?
    3. With NRZ3, how difficult will it be to subdivide these 700+ blocks?
     
  2. Triton

    Triton Well-Known Member

    Joined:
    8th Sep, 2017
    Posts:
    476
    Location:
    Vic
    Are you sure you don't mean GRz1? My understanding is that NRZ3 is basically no chance of development
     
  3. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    13,443
    Location:
    Melbourne