VIC Truganina

Discussion in 'Where to Buy' started by teetotal, 7th Feb, 2016.

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  1. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    Unfortunately new land estates purchases can be problematic from a lending perspective. A person who may service up today with the bank's lending policy may not service up when it comes time to build (whether it be due to the purchaser's financial circumstances changing and/or the bank's lending policy changing). As such there can be a danger of finding oneself with a vacant plot of land with mortgage repayment obligations and no ability to build on it. Check with your mortgage broker before embarking on a purchase like this.
     
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  2. larrylarry

    larrylarry Well-Known Member

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    Yes thanks.my broker did the H and L in the West few years ago himself. I'll be speaking with him soon.
     
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  3. melbournian

    melbournian Well-Known Member

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    U took the words right out of my mouth. I took a package from work and was paid out. I then decided to take a couple months break and hence wasn't considered by the banks so I had to finance the 3 builds in cash.
     
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  4. gkp

    gkp Well-Known Member

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    New estates in Truganina

    Allura
    College Green
    Evergreen
    Elements
    Elpis
    Westbrook estate
    Bellevue
    Gateway
    Forsyth Park
     
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  5. Greyghost

    Greyghost Well-Known Member

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    Sounds like some of you guys talk yourselves into buying out there, ignore fundamentals and focus only on the pros of this area. Those from Sydney see it on the map and think it's a good deal..

    For an extra 100-150k I would buy in sunshine, Albion Etc every time over out this way.. Save a bit more and buy a better quality asset.
     
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  6. melbournian

    melbournian Well-Known Member

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    I like sunshine though I would say it is 150-250k more for most places in that area. They are large blocks no doubt which are more for the sub division. Great if u got the cash hence why this areas are more affordable for entry level. Families who have just started working earning 70k a year would still be unable to purchase.
     
  7. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    Re Sunshine - as pointed out by @melbournian, the pricetag is higher and thus unachievable to many buyers so it is a moot point. Also rental yield is lower and land valuation higher (thus the land tax headache).
     
  8. larrylarry

    larrylarry Well-Known Member

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    Thinking and verbalising out loud helps me personally... Weighing all the pros and cons.
     
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  9. Hamster

    Hamster Active Member

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    Hi all,

    Just to throw my 2c in here, we bought in Tarneit in 2011 (a good quality 4x2x2 on approx 500 sqm) and although not Truganina still hasn't done much at all in terms of CG.

    The way I see it:
    • Heaps of land still available;
    • Lower socio-economic region so any rate hikes will have an immediate impact;
    • Getting to the city over the West Gate is still a nightmare;
    • Point Cook only had 1 road in/out so traffic there can also be terrible;
    • Yes there is plenty of industry and hence work in the area; however the flipside is that Truganina is a very industrial area. Lots of DC's and more coming on line every week. With this comes more traffic (trucks) and I'm not sure the infrastructure is there yet...

    Don't get me wrong, I'm still hoping for growth in the Wyndham area, I just can't see it in the short term...
     
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  10. larrylarry

    larrylarry Well-Known Member

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    What's DC?
     
  11. Mitesh Dedhia

    Mitesh Dedhia Well-Known Member

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    I'm guessing Distribution Centres for Coles, Woolies etc
     
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  12. Mitesh Dedhia

    Mitesh Dedhia Well-Known Member

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    I live nearby and completely agree with these posts. I don't see prices going up/CG too much in the near future.
     
  13. Hamster

    Hamster Active Member

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    Distribution Centres. Lots of warehouses either there now or going up, good proximity to ports and access to Freeways North and West. This provides for employment opportunities however also add to traffic congestion (specifically trucks) - and both the Western Ring Road and West Gate are a nightmare already.
     
  14. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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  15. Hamster

    Hamster Active Member

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  16. EN710

    EN710 Well-Known Member

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  17. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    Put on your happy face @Hamster ! A bunch of money is being spent on major road infrastructure that will help everyone - most especially people living in the west :D
     
  18. Hamster

    Hamster Active Member

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    Happy face is on @JacM - I don't live in the West so don't deal with it on a daily basis!!;) And if it brings any sort of CG I will be even happier! I just see it as being another band-aid solution, in the same way the Bolte exit onto the Westgate Freeway Eastbound into the Tunnel has worked so well...o_O
     
  19. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    @Hamster - government could do absolutely nothing or they could do something. I'm pleased they've chosen "something" :)
     
  20. Kangaroo

    Kangaroo Well-Known Member

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    How much did you pay for your 4x2x2 on 500 sqm back then ?