New User - looking to buy first property

Hi Guys,

I am new to property chat, I have been reading lot of posts on this website and like how it has grown up like a community people know each other on PC,helping each other to take the right decision.

I have joined PC with the hope that I can get some benefit from your knowledge in melbourne market.

About my self :
Working full time in melbourne , I have got loan approved of 800K.
Looking to buy a first home in melbourne, my budget is 630K.looking for property in lalor. Need your assistance in knowing what are the pockets that i should target in lalor and is my budget right for the market?

Thanks
Sid

 

Welcome to the forums!

Also not much help regarding Melbourne, but interested to know if you'll be investing after your PPOR purchase?

 

Thanks wylie

 

I would like to invest if I am left with any borrowing power, post PPOR

 

Welcome aboard Sid

Cheers

Jamie

 

Hello Sid!
Your forum name would fit perfectly well with a colleague of mine.... but you got it! I too cannot advise on that market you are looking at but i'm sure someone will will be able to help.

 

Welcome Sid!
Even I'm in Melbourne I'm not familiar with Lalor, sorry, but I'm sure someone will be able to help
Any reason you like that particular suburb?

 

Jacana, Hadfield and Mill Park might be more realistic for that budget, based on what my clients are purchasing.

 

Are you looking to buy with development in mind ? If so, there is a very handy Housing Framework map buried in the Whittlesea planning scheme that shows where Council wants more intensive housing in Lalor and area. To be read in conjunction with the table above it.

http://planning-schemes.delwp.vic.gov.au/schemes/whittlesea/ordinance/21_mss09_wsea.pdf

 

Reason was I got priced out of Thomastown and this place has its own train station and not too far from the city. But it looks like I am priced out of Lalor as well

 

HI Y- man

Yes, I am looking to live in. No, no kids at the moment there is no school preference.

Also, I am now thinking whether I should go rentvestment route or buy townhouse.

 

Thanks candlebark, I will have a look at it. But I am not thinking of doing any development in near future

 

Thanks Jamie

 

Thanks Gockie

 

I haven't looked at Hadfield and jacana yet, I have been going to auctions in mill Park from last couple of weeks looks like houses there as well are above my budget. But I would say Mill Park is better suburb than Lalor, it has character. Thanks for your advice

 

Hey Sid Let me know how your research goes...I have been looking at properties in Lalor but unsure as to where to invest and what to do...

 

HI Massey, I have put my property search on hold for now. Lalor prices are still on upward trend, my personal opinion is mill Park is better suburb to invest. Yes there is no station there but suburb has a good feel. Good luck and let me know if u find something in that area