VIC Seabrook VS Point cook. Need your help

Hi, I need your opinion between these two suburbs. I have been inspecting the property for my 3rd investment property in Melbourne for last 2 months. I have narrowed down these two suburbs and looking for over 600m2 block. After 15-20 years down the track, for future development when there will be shortage of land within 20 km of melb . I inspected lot of property in point cook but bigger block is going over 730k-780k depending upon location . LJ hooker point cook agent told me about seabrook . It looks like hidden gem between alotna meadows and point cook. Last week they invited me for private inspection in Saturday for 62 st Anthony court , seabrook. Agent told me seller wants to try to sell privately first, if they are not successful they will put in market after one or two week. There were 5 groups who came to inspect the property. This property is rented 470 per week at the moment and it is 4 bedroom house with 618m2 block. House is also very good and its location is also perfect. 1.8km walk to Williams landing station, easy access to princess free way and you don't have to wait too long in peak hour time , top seabrook primary school. sanctuary shopping centre and point cook shopping centre nearby, east west tunnel work going on, altona beach nearby . I have not given any offers yet, agent was indicating price of over 760 k. Me and my wife are in two minds whether to give offer or not. What do you think of this property? 62 St Anthony court, Seabrook.

 

Why are you in two minds?

 

We are thinking of giving price offer of 759k . We don't want to go maximum of 770k budget. . Is the pricing good ? Very difficult to find good property with future capital growth especially in this time. Lot of people say buyers market but I am feeling the heat. I Need the expert opinion from you guys

 

i just briefly looked at it 33 sold for 655k 12/19 3bed553m2 and 65 sold for 610k 11/19 3bed 568m2. what am i missing?

 

It is 4 bedroom house. If you check 4 bedroom house is over 700k + . Depend upon location, land and house. It would be bargain if we can get around 700k.
4000+ Properties Sold & Auction Results in Seabrook, VIC, 3028 | Domain,
https://www.realestate.com.au/sold/with-4-bedrooms-in-seabrook,+vic+3028;/list-1?activeSort=solddate

 

Maybe keep looking till you find a property you can add value to. 62 St Anthony looks like it has had at least a cosmetic reno not long ago so you wouldn't be able to get it below market value. Look for one that has value add potential, you may bag that for say $710k, you pour in say $20k, following which it may be valued at say $760k depending on how the general market's doing.

 

Those people are *hoping* it's a buyer's market. My BIL and a close mate work in REA and they've had very good numbers through their open homes with solid offers in already. They don't think the market's down by more than a few percent, which is nothing. Stock's low, which is probably contributing to the hysteria. Finally, don't listen/read what the media scum spouts, boots on the ground is the best way to find out (which you're already doing)

 

yup, quality stock is very low at the moment. I just don't want to buy property with no long term capital growth or limited growth for just sake of investment property. This property ticked all the boxes.I will try to negotiate the price today.Lets see

 

Seabrook is the preference for lifestyle and convenience.

But your holding costs will be high. If uou can cheaper property on half the land, and price is competitive, keep the options open.

No over payment anywhere and still get the benefit of all worlds.

Cheers

 

At the moment fixed interest rate is quite low and negative gearing too . Holding wont be problem. I am looking for long term and give it to my son when he is self independent and mature. I don't want to buy cheap property with limited growth and u got capital gain tax on top of that. House and land package are not cheap at the moment too.

 

Work out the numbers. Apparently, cheap properties grow at a better rate. But if you are confident, by all means go ahead.

It really depends on what your goals are. If buying one and then eventually passing on to kids is your long term goal, this makes sense to some extent.

Regards

 

https://www.realestate.com.au/property-house-vic-seabrook-133846586

Owner has put the property in market. We offered 745k and tried to negotiate it but they declined.

 

Thank you. I’ll put in an offer accordingly tomorrow.

 

It might be competition between you and us. Our eyes is on that property mate.

 

I am currently working in cbd and renting in altona.We are looking for residential property to live in with our young family. I am going to check this property out over the weekend and give offer accordingly. I absolutely love the location of seabrook over point cook, sanctuary lake and certain parts of altona meadows. It has got top primary school and easy access to freeway and public transport .We like altona but altona is out of budget especially for big house with bigger block. Thanks for information.

 

Seabrook offers potential for capital growth It is a nice area to raise a family too .Williamstown and Altona are already over 1million plus. Most of my properties are in Murrumbena, Oakleigh but got few properties in Williamstown and altona too. I have got my Greek relatives living in that area for long time. They love it.

 

In terms of future capital growth the only thing Seabrook has going for it is it's distance and commute to the city. I'd live there but wouldn't invest there.

 

Everyone don't have million dollar to buy a house or invest in altona or Williamstown. I am trying to sort out my finance and add Seabrook in my property portfolio. I might head over the weekend to inspect properties in seabrook or altona meadows. Its distance and commute to city is going to attract lot of people in future.

 

My comment was directed to the OP as it's his thread. You're right not everyone does have 1mill but he's looking at 750k for CG and you can get a house in Footscray for that much which will see way more CG than Seabrook.

 

$750k for a house in Footscray?! What year was that in?

The cheapest house in Footscray went for $720k in April, at least that's what https://www.realestate.com.au/sold/property-house-in-footscray,+vic+3011/list-1?activeSort=solddate tells me. The block was tiny too, you couldn't park two cars next to each other.

Are there better options than Seabrook to invest in? Absolutely. To live in? That's just personal choice.