[VIC]Unit in Bayside or a house in Sunbury

Discussion in 'What to buy' started by MonkeyD, 5th Feb, 2022.

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  1. MonkeyD

    MonkeyD New Member

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    I am considering of buying some property and am a first time home buyer!

    I intend to live there for a while and then rent it out..

    My options are either to buy a unit in the Bayside for around 660,000+, I work in this area and would love to live here!


    Or a house in Sunbury for around the same price mark... with this option i would save on stamp duty etc.. but the drive into work and the cbd will be ridiculous

    I think for long time rental option I will get a better option in bayside, not sure on the capital gains compared to Sunbury though.

    Any advice would be appreciated !
     
  2. Wolf

    Wolf Member

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    Hi Monkey D

    It seems like you really would prefer to live Bayside by what you are saying.
    I guess you could rent vest. Rent in Bayside for its convenience to work and it's appeal and buy in Sunbury, to take advantage of incentives etc.
    The podcasts and forums I've come across generally say to buy the best property that you can afford in the most desirable locations ie Middle Ring Suburbs, good access to amenities, suburbs with higher ratio of owner occupiers compared to renters etc And there are other outliers.
    I'm not sure which would offer the highest capital growth as I'm not aware of data for these two locations and it would depend on what property you bought as well.
    Anyways, hope this helps.
    There are many more on the forum with much more knowledge and experience than me so hopefully you'll get plenty of advice to help you make the best decision for you.
    Good luck!


    My options are either to buy a unit in the Bayside for around 660,000+, I work in this area and would love to live here!


    Or a house in Sunbury for around the same price mark... with this option i would save on stamp duty etc.. but the drive into work and the cbd will be ridiculous

    I think for long time rental option I will get a better option in bayside, not sure on the capital gains compared to Sunbury though.
     
    Last edited by a moderator: 6th Feb, 2022
  3. The Y-man

    The Y-man Moderator Staff Member

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    AFAIK no go for rentvesting if you want FH grants. Got to live in it (for a while).

    For that reason, I would tell OP to go with the heart - buy where you want to live.

    The Y-man
     
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  4. Wolf

    Wolf Member

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    Absolutely Y-man...i need to read the question carefully before offering advice. OP is obviously asking for more than advice on where to buy..
    you`ve given very good advice,thanks for the correction.
     
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  5. Joynz

    Joynz Well-Known Member

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    Do you mean in Bayside (I.e. within the Bayside City Council area) specifically or just down that way?
     
  6. The Y-man

    The Y-man Moderator Staff Member

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    I was about to suggest rentvest too and realised last minute bahahaha :D:D:D

    The Y-man
     
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  7. The Y-man

    The Y-man Moderator Staff Member

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    Corio Bay? :D

    The Y-man
     
  8. MonkeyD

    MonkeyD New Member

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    Thank you for your response! ... I literally would love to live in that area but spending all day today and yesterday looking at properties the corp fee and size of the land kinda turns me off for the price :/.. am reconsidering my buying option
     
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  9. MonkeyD

    MonkeyD New Member

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    I was looking at Elsternwick/Elwood and surrounding areas..
     
  10. MonkeyD

    MonkeyD New Member

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    UPDATE: I am considering buying a decent side property in St Albans or Sunshine... I can get a property sized around 600m2 that is close to the station and has easy access to the freeway... won't be the pretty places to live in but oh well it is only for a year.
     
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