VIC Townhouse or villa unit for $500k in Melbourne?

Discussion in 'Where to Buy' started by potentialbuyer, 2nd Mar, 2020.

Join Australia's most dynamic and respected property investment community
Tags:
  1. potentialbuyer

    potentialbuyer New Member

    Joined:
    2nd Mar, 2020
    Posts:
    4
    Location:
    Sydney
    Hi I'm looking to buy a townhouse or villa in the Melbourne area initially as an IP but potential future PPOR. My budget is $500k - $550k. Unsure about the location as I live in Sydney and not very familiar with Melbourne suburbs. My location criteria include:-
    - Within 30 Km of the CBD
    - Close to train line
    - Reasonably safe
    - Have a few shops around
    - Preference for leafy suburbs (but not must)
    - Preference for multi-ethnic environment (but not must)

    Looking for opinions.
     
  2. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    11,412
    Location:
    Melbourne

    Thank God "Top School" was not on the list!! Makes finding a place about 6 million times easier....

    That last one is a bit interesting - any particular ethnicity in mind? (I fully get wanting to be part of specific communities)

    The Y-man
     
  3. potentialbuyer

    potentialbuyer New Member

    Joined:
    2nd Mar, 2020
    Posts:
    4
    Location:
    Sydney
    Thanks for the response. By my last criteria I just mean I prefer a suburb that is not dominated by just one ethnicity, prefer having a mix of cultures around, but it's only a slight preference.
     
  4. Westie

    Westie Well-Known Member

    Joined:
    19th Jun, 2017
    Posts:
    1,106
    Location:
    Melbourne
    Ringwood? Not sure how many bedrooms etc you need, but a 2x1x1 is about $550k. Greensborough too. Other than that, @The Y-man has a valid question.
     
  5. potentialbuyer

    potentialbuyer New Member

    Joined:
    2nd Mar, 2020
    Posts:
    4
    Location:
    Sydney
    Sorry should have added looking for a 3 bed, 2 bath, 1-2 garage
     
  6. Westie

    Westie Well-Known Member

    Joined:
    19th Jun, 2017
    Posts:
    1,106
    Location:
    Melbourne
    I doubt there'd be a property that'd check off all those boxes and a 3x2x2 in metro Melbourne. Lilydale maybe? If you struck off "leafy suburbs", then more than a few options open up in the Werribee, Wyndham Vale area.
     
    Last edited: 2nd Mar, 2020
  7. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    11,412
    Location:
    Melbourne
  8. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    11,412
    Location:
    Melbourne
    Do bogans count as an ethnicity? :D:D:D:D

    The Y-man
     
    Browneyed and TMNT like this.
  9. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    11,412
    Location:
    Melbourne

    Go around planting a few trees - should be grown by the time it becomes a ppor :D

    The Y-man
     
    VICPER likes this.
  10. Westie

    Westie Well-Known Member

    Joined:
    19th Jun, 2017
    Posts:
    1,106
    Location:
    Melbourne
    I'd try Geelong, I know it's wayyy more than 30kms from CBD, but the other boxes are checked off plus you'd be close to the water (more upswing potential).
     
    VICPER likes this.
  11. Westie

    Westie Well-Known Member

    Joined:
    19th Jun, 2017
    Posts:
    1,106
    Location:
    Melbourne
    TMNT likes this.
  12. potentialbuyer

    potentialbuyer New Member

    Joined:
    2nd Mar, 2020
    Posts:
    4
    Location:
    Sydney
    Thanks for the replies. I'll have a look around Epping and Werribee surrounds.
     
  13. The Y-man

    The Y-man Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    11,412
    Location:
    Melbourne
  14. Codie

    Codie Well-Known Member

    Joined:
    6th Mar, 2018
    Posts:
    1,591
    Location:
    Brisbane
  15. Skinman

    Skinman Well-Known Member

    Joined:
    9th Jan, 2018
    Posts:
    609
    Location:
    Perth
    Have a look at Laverton. It’s a bit closer in than Werribee etc. the area seems to having a surge in TH’s some of the first developments now 5ish years old or some newer stuff coming on quite regularly.
     
  16. Skinman

    Skinman Well-Known Member

    Joined:
    9th Jan, 2018
    Posts:
    609
    Location:
    Perth
  17. TMNT

    TMNT Well-Known Member

    Joined:
    23rd Jul, 2015
    Posts:
    5,573
    Location:
    Melbourne
  18. Codie

    Codie Well-Known Member

    Joined:
    6th Mar, 2018
    Posts:
    1,591
    Location:
    Brisbane
    Busy as road though hence reflected in price but yes agree past that it’s good value.
     
  19. David_SYD

    David_SYD Well-Known Member

    Joined:
    17th Feb, 2020
    Posts:
    630
    Location:
    Sydney
    I’d like to check this out for myself.

    What type of demographic does this area attract Codie?

    Is it particularly in demand?