VIC Old Town surrounded by New Estates

Hi Guys,

I am looking at buying an old house in an old small town in the middle of new estates to be developed. These new estates also come with shopping centres and schools etc. I am looking to buy in this old small town because it is just a tad bit cheaper, the land is bigger and subdivision opportunity. This opportunities are not available in new estates.

However my worry is that the houses in this old small town will look older relatively to all the new houses in the new estates surrounding and thus this may impact property value and/or rental negatively in the future.

what are your thoughts? and do you know of any old areas now surrounded by new estates? how are the properties in the old areas tracking and if you could please give me examples so i can do some research.

Many thanks.

 

Burbs name will help. Otherwise shooting in the dark I guess..

Cheers,

 

Where abouts are you looking to buy and just how close is the new subdivision?
Keep in mind that way back when Essendon would have been the new kid on the block for ascot vale/moonee ponds, Northcote the new homes for Carlton/Fitzroy etc
I personally would be more than happy buying older homes, in all honesty the older the better for me I.e 1880s, love a Victorian boom style home

 

Hi All,

I am looking to buy in Old rockbank. However, woodlea, bridgfield, mt atkinson and all these new estates surround old rockbank town. Do i go for the new estates or the old house in older part of rockbank.

I worry this new estate will outshine the old rockbank and people would only be interested in the new estates if they are looking to buy or rent in that area.

What are your thoughts