VIC Melbourne up to 600k 3-1-1

Discussion in 'Where to Buy' started by bez23, 10th Jan, 2016.

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  1. bez23

    bez23 Well-Known Member

    19th Jun, 2015
    Hi guys,

    Helping a doctor friend do some research of where to buy in Melbourne. He is looking to buy an OTP apartment originally due to spruikers but I am trying to steer him off that. My thoughts are if he wants to buy apartments, there is / will be an oversupply of apartments and he will be able to get it under what the vendor pay for OTP ( and wait years to settle).

    I know that $600k doesn't go far in Melbourne but is it possible to get a landed detach property?

    He wants it to be within 10-15ks from the city if possible. New property is preferred as he doesn't have time to add value with renos and development.

  2. Lisa Parker

    Lisa Parker Property Strategist & Buyers Advocate Business Plus Member

    24th Jun, 2015
    Hi Bez23, yes, you will find property for around the $600K mark on land within the 15km radius. you will be looking North &, South West & West of the CBD, and extra $50K would help in the inner south west and you would be looking at a 2 bedroom, not a 3, but if proximity to the CBD is a priority this is not a bad compromise. Land will be small compared to outer areas (naturally), but providing it is typical for the suburb you are investigating it shouldn't be a concern. You could also consider an older but renovated period home which are very popular in these location.

    I would love to have a chat with you or your friend if you feel there would be benefit having on the ground, local assistance.