VIC PPOR - 600K budget for family of four

Discussion in 'Where to Buy' started by RedHat, 23rd Jan, 2017.

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  1. The Y-man

    The Y-man Moderator Staff Member

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    I was always interested that my first year uni class had people from every which school - from the most expensive private schools to the most unlikely state schools.

    This was an observation made by some of my classmates in Uni too from the so called "low performance" state schools - they said the majority dropped out by year 10, so the ones that were left got great support.

    Anyway, regardless of what we think, the OP wanted a "good" primary school, so we can only go by some ranking system and/or personal experience of the schools in the area.

    In that respect, I can't comment in this thread because 1. have no kids 2. the primary school I went to got sold by Jeff for a housing development years ago.....

    The Y-man
     
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  2. RedHat

    RedHat Well-Known Member

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    Cheers guys for all the replies.Some really good and helpful information here


    I'm not able to find much in 650-700K range in Reservoir.Will look into the other options you mentioned

    Thanks! will check Springvale as well.How does Springvale South compare to Springvale?

    Umm Adelaide is not an option for us.Lesser jobs as compared to Melbourne
     
  3. The Y-man

    The Y-man Moderator Staff Member

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    Further from the station - you need a bus to get you to the stn.
    Consequently cheaper.

    The Y-man
     
  4. MikeyBallarat

    MikeyBallarat Well-Known Member

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    If OP thinks Sunshine is not good enough to raise a family, who knows what they will think of Reservoir!

    Capital growth wise is another matter, but for a PPOR Sunshine is ten times the suburb that Reservoir is. Sorry about being so snappy about it but I hate when out of towners are told places like Preston/Reservoir/Glenroy are solid PPOR suburbs that justify their price tag when they're not, especially considering the OP discounted better areas like Sunshine (where I live with no issues) because it wasn't family friendly enough. I get the prospects for capital growth and gentrification, and it may yet happen one day, but that doesn't make it any better to live in now.

    However rentvesting by buying here and renting in Glen Waverley/Balwyn/McKinnon/Williamstown may be an excellent option - get to live in the excellent family oriented area now, share the spoils of capital growth later on.

    Most of the other suggestions in this thread will not fit OPs budget. Dollar for dollar, the best value 'school suburb' in Melbourne is Werribee south of Synnot - getting you in the zone of Werribee Secondary College. If that's not your cup of tea, try looking for something in the St. Helena Secondary College zone.

    An alternative is Highton/western side of Belmont in Geelong, getting you in the area of Belmont High School.
     
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  5. MikeyBallarat

    MikeyBallarat Well-Known Member

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    How about Taylor's Lakes/Keilor/Keilor Downs, in the area bounded by Sunshine Ave, Green Gully Rd and Old Calder Hwy? Beautiful PPOR homes, gorgeous family friendly environment with plenty of green space for the kids to play. Schools are well regarded (public schools and nearby Overnewton Anglican school) and it's close to Watergardens station. Top streets include Rutherglen Way, Tintaldra Dr, Burrowye Cr and all surrounding courts.

    The other area of Taylor's Lakes nearer to the train line (the Chichester/Parmelia Dr area) is also an alternative, but the feel isn't quite as nice, though still worth a look if the right property comes up.
     
  6. melbournian

    melbournian Well-Known Member

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    I think it is the reverse Preston/Reservoir/Glenroy is 10X the ppor suburb sunshine is. The preston market, shops off high street. There is also a multitude of universities close by next door (Latrobe, bundoora, RMIT) and a booming migrant population. Sunshine is not yet there yet to be in the same as say Yarraville or seddon. it make take some time. Sunshine reminds me a bit of dandenong. End of the day it really depends where the OP is from originally. New migrants then to want to be in similar surroundings initially when they first migrate over in the early years.
     
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  7. RedHat

    RedHat Well-Known Member

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    Okay guys, so we visited Melbourne couple of weeks back.Drove around Epping,Mill Park,South Morang and Lalor. Although would have loved to spend more time getting a feel of these places, but the bub fell sick and the visit was cut short.

    What i found was -
    1. Good transport - trains to CBD every 20 mins or so (25 stops for 50 min journey!)
    2. Decent schools - Epping primary, St peters etc..
    3. Shopping centres - Westfield, Epping plaza
    4. Epping hospital

    I have been comparing this with Melborune West - Tarniet,WL,Hoppers which I feel will take some time to come up to the level of infra present in the North.
    Unfortunately we do not have many friends in Melbourne who could give the ground zero details of these places. We are planning another visit during the Easter weekend and hope to finalize the suburb for our potential purchase.
    Also have bumped up the budget to 700K from 600K as it does not buy much in the 4x2x2 configuration.

    So where would you be putting your money - North Vs West, given this criteria:
    "Decent" school,close to train station,PPOR,700K budget, good to have some CG after 5 years or so
    Please note I'm no resident guru and the above observation is based on our 1.5- 2 hour driving around these places.

    Cheers
    BH
     
  8. JL1

    JL1 Well-Known Member

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    Personally I favour north. I'm not silent about my favouritism for Lalor, but can't comment on schools.

    Your note on CG - I'd advise against relying on this, and think that any area in melbourne would be equally affected. Downturns last a while, and it is a very real possibility you could end up with a property worth the same in 5 years especially if rates hike to 6% like some predict they will. Melb/Syd are coming off a massive jobs boom that I think will head the other way when government insfrastructure and private construction spending slow at the end of this decade. Australian property hasn't felt the effects of increasing interest rates in near enough 10 years, so combined it is a real possibility (not guarantee) that prices will not move.
     
  9. Air_Bender

    Air_Bender Well-Known Member

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    This isn't even up for debate. Definitely North!

    You've already stated the positives of buying in the North vs West but I would just like to add we also have the Melbourne Market and soon to open Costco. There's also a massive expansion happening at Westfield with the addition of new restaurants, shops, Village cinema etc.
    I live and work in this area and there's definitely a lot of change heppening.

    You have a decent budget and I'm confident you'll find something in that price range. But be prepared to slug it out with investors, particularly Asian investors. I see more and more attending auctions in Epping and around my neighbourhood in Mill park.

    Good luck.
     
    Last edited: 1st Mar, 2017
  10. Birdseed

    Birdseed Well-Known Member

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    I have seen Costco quoted in a few Location-based threads now... what is the attraction of a Costco? I understand it may employ a few people but what tangible effect will it have on property prices?

    And schools? These days you can send your kid to a range of specialty schools based on their interests/talents/religious affiliation etc if you don't like the local. Surely "good schools" is a subjective and ever-changing indicator for assessing property investment location, and therefore unreliable/of little use. Each to their own, but I prefer to make business decisions based on black and white facts.
     
  11. Air_Bender

    Air_Bender Well-Known Member

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    This I cannot answer and maybe someone who knows the actual effects can chime in. But one thing I do know is that people love convenience and having the largest warehouse store in the country open up in the north will be very convenient for a lot of people here. You've got to also look at the bigger picture. The store is located next to Pacific Epping (epping plaza) and the Northern Hospital and it's just a short walk from the train station. I can't see something similar in the west.

    Good schools definitely play a big part in a lot of purchases. Surely you've seen the crazy prices people pay for properties in good school zones.

    Each to their own but for a PPOR I'd definitely choose the north.
     
  12. The Y-man

    The Y-man Moderator Staff Member

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    In melbourne (and many other cities) the school factor IS one of the black and white facts. I agree students can get education with a similar academic outcome from different schools. But children don't buy houses - the parents do. For many parents, the decision is not completely on what the child wants - or even needs - it is about "social standing", "status", "brag factor" etc in their community. Ignoring these will be IMHO leaving out an incredibly important factor that drives capital growth.

    The Y-man
     
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  13. Cimbom

    Cimbom Well-Known Member

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    I'm not sure I agree. I went to school in the western suburbs of Melbourne and thought most of my teachers were barely qualified for the job (with a very small number of exceptions). I can give a massive list of issues if anyone is interested. I would easily live in an apartment in a better suburb compared to living in that area just so I can get a big house. I wouldn't think twice.

    Sure, I did well but that's not the point. Improving students' abilities beyond the constraints of their circumstances is the reason that teachers exist in the first place. If they can't do that, you might as well let the kids stay at home as the outcomes won't be any different. Teaching is one of the few jobs where you can so clearly not achieve the key purpose of your role but not suffer any consequences related to this.

    The huge increase in property prices has also distorted people's perception of these areas. Just because the house that was 400k a few years back is now 700k, it doesn't mean the demographics/infrastructure/quality of facilities in the area have automatically improved by a similar measure.

    If I were the OP, I would rent in an area that gave me easy access to my job and had options of good local schools. I would also prioritise location over size. Buy an investment property if that appeals instead.
     
  14. FromWatsy

    FromWatsy Member

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    Also you should compare crime rates stats for suburbs of your interest. Currently crime is on the raise pretty much everywhere but in some places less than others. Here is ineresting reading from my neighbourhood watch newsletter:
    Oct 15 to Sep16 VIC statewide offences up by 9% or to 8975 per 100k of population;
    Boroondara up 27%
    Glenn Eira up 25%
    Monash up 24%
    Whittlesea up 17%
    Manningham up 11%
    Banyule up 5%
    Nillumbuk down 3%
    Whitehorse down 10%
    Melb CBD, Geelong, Casey, Hume and Gr.Dandenong topped state for total offences.
     
  15. dave80

    dave80 Well-Known Member

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    Anything provided for stonnington?
     
  16. FromWatsy

    FromWatsy Member

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    Nope, only what i've quoted :(
     
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  17. Propagate

    Propagate Well-Known Member

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    Come down to the Peninsula! @RedHat all depends on how long a commute you can bear.

    We live in Somerville, you'd get a good house for that down here. My partner works on St Kilda Road and drives to work every day (1h 15 give or take). A mate of mine lives here and commutes to work at Tulla airport.

    We've got schools, pubs, restaurants, wineries, beaches, open space, greenery, great community, local feeder train takes you to Frankston Station.

    10 minutes drive from beaches, hills, countryside.

    Since Peninsula Link opened though more people have "found us" it's getting busy down here, prices have gone up a fair bit the last 2 years (can still get a great house for $600k mind). It is getting busier here now though, certainly not like inner burbs, but compared to when we moved here 7 years ago and it was still a sleepy orchard village.

    33 Kinlora Drive Somerville Vic 3912 - House for Sale #124536890 - realestate.com.au
     
  18. The Y-man

    The Y-man Moderator Staff Member

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    You need to also separate out the type of crime.
    Affluent suburbs can make easy pickings for burglars from houses and cars which is very different say actual car theft, property damage, assault etc.

    The Y-man
     
  19. Cimbom

    Cimbom Well-Known Member

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    Crime rates are also very misleading when looking at more inner-city areas as they have higher population density. More people = more opportunities to commit crimes, especially property crime and the like.
     
  20. Manic

    Manic Well-Known Member

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    Your going to have to compromise somewhere - price vs house size. I live in the north of Melbourne (grew up in Glenroy) and also work in the CBD. Like other posters have mentioned, the schools i went to had great people, very warm and friendly but not academically inclined. The biggest influence my siblings and I had was encouragement from our parents and we all scored 90+ at schools in Glenroy/Broadmeadows. We've recently put kids in primary school and once you go passed Pascoe Vale, NAPLAN scores drop significantly. I can't comment on childcare in Glenroy or further out.

    For $600k you can possibly look at a unit/apartment surrounded by parkland if you want the inner city convenience of a suburb like Pascoe Vale/Oak Park. Or you can buy an older house on a larger block in Glenroy. Strathmore Secondary has a great reputation but that is probably some time away for you.

    It's a huge decision and you may want consider renting for 12 months and better informing yourself with areas around Melbourne before you jump in. You can also speak with your work colleagues about the area as you build your Melbourne network.