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VIC Plumpton VIC 3335

Discussion in 'Where to Buy' started by Tekoz, 12th Sep, 2016.

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  1. Tekoz

    Tekoz Well-Known Member

    Joined:
    24th Jun, 2015
    Posts:
    1,244
    Location:
    Sydney
    Hi All,

    What do you guys think of investing for a new house in Plumpton VIC 3335 this year ?

    4/2/2 new house 400 sq Meter land

    The location that I'm thinking to buy is in: KORA Estate Location

    The agent (Resimax Real Estate) mentioned that mostly there will be more Owner Occupier so it is safe for investing, especially for interstate people.

    What I think it is better offer than the Park Ridge QLD 4125 is that the developer offers:

    20 years structure guarantee
    10 years rental guarantee
    5 years price protection (if I buy & hold for 5 years).

    Any help and suggestion would be greatly appreciated.

    Thanks
     
  2. Tekoz

    Tekoz Well-Known Member

    Joined:
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    Location:
    Sydney
    Sizing: Total Floor area: 232.69 sq M - 25.07

    Pricing: Land: $290k | House: $250k for turn-key solution.
     
  3. G TOWN

    G TOWN Well-Known Member

    Joined:
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    Location:
    Geelong First Home Buyer
    Good owner occupier area, but bear in mind there are large vacant tracts of land to the west of the suburb. First buyers were snapping up H&L in Taylors Lakes in the 80s, then came Sydenham in the 90s, Hillside/Taylors Hill in the 00s and now Plumpton in the 10s. The next suburb will come online in a few years time, and people will just buy/rent there instead where the newer houses are. And PTV will just keep on extending the 476 bus line to boot ;)
     
  4. Spiderman

    Spiderman Well-Known Member

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    Location:
    Vic
    Hard to say. The most recent 476 extension has it going off the highway down to the top end of Aspire Bvd. From there it's a buck each way whether it goes west to the Kora estate or south, further along Aspire Bvd.

    https://static.ptv.vic.gov.au/siteassets/Maps/Routes/PDFs/10827_Bus476.pdf

    Since Aspire Bvd is more established and developed the latter may be slightly more likely. Although any extension requires the government to fork out money which is a slow process. For instance it took many years for Aurora Estate to get buses Proposed New Bus Routes For Epping North | Community News, Media - Public Transport, Media- Transport, Uncategorized | Aurora Community Association, Aurora Estate, Epping North Vic

    I simply can't see the appeal of Plumpton versus any number of any new estates. There are no special lifestyle , environment, education or jobs benefits. The City of Melton (which includes Plumpton) has the highest percentage of commuters who must leave the municipality to work.
     
  5. JacM

    JacM VIC Buyer's Agent Business Member

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    Location:
    Melbourne, Australia
    Hmmmm. Rental guarantee. Red flag
     
    BCR likes this.
  6. Cactus

    Cactus Well-Known Member

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    Location:
    Melbourne
    Yes either built into the price or offered by a 2bit company with no assets or affiliation to the developer.
     
  7. oki doki

    oki doki Well-Known Member

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    Location:
    Canberra
    Hi
    I do not know much about plumpton as I only focus on SE and Outer eastern Melb.
    But watch out for h&l from builders u usually get less land, as u pay for house.
    Also plumpton relies on Sydenham station right ? So I guess closer u r to that the better I guess. If u r living then of course the criteria is diff, if it suits ur lifestyle then go for it. But if its investment how do ur numbers look,rental yield,cost etc?
     
  8. oki doki

    oki doki Well-Known Member

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    Aha, apologies u did mention its investment, I think u could put the $540k elsewhere for better returns. What's ur strategy? What r u after ?
    I personally just don't like the concept of spending that much for small block.
     
  9. Greyghost

    Greyghost Well-Known Member

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    Location:
    Melbourne
    No go.
    Tekoz where is the scarsity in places such as this? What are the drivers for growth and demand? None.
     
  10. melbournian

    melbournian Well-Known Member

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    Location:
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    I went to plumpton maybe couple months ago - it's a pt cook version (maybe 15 years ago)
    that is pretty expensive build 250K- what kind of house is this? For these areas the houses I will put on would be 99K or 129K build + extras from the volume builders single storey. Do like @sash - he has developed a niche in this area.

    250K houses are more for the brightons, glen Waverley, Mount wavelrey.
    There's a Turkish builder doing the house opposite my IP 2 joined townhouses dual frontage for 375K double storey so 250K is ex