VIC Victorian Beach Gems for the Future

Discussion in 'Where to Buy' started by ThaRealJaySnell, 12th Sep, 2021.

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  1. ThaRealJaySnell

    ThaRealJaySnell Well-Known Member

    Joined:
    3rd Jun, 2019
    Posts:
    65
    Location:
    Melbourne
    Hi All

    Avid reader of this forum and i love the information and contribution from everyone. It really is cool that we can all help each other to set us up for the future.

    I work as an architect at the moment, but also have worked as a project coordinator and a real estate agent. So have a pretty good understanding of the property industry which allowed me to make some property movements in the last 5 years whilst putting myself through university graduating at 29 years of age.

    My partner is a primary school teacher and couldn't of done it without her. Definitely was just not me in all this.

    Quick rundown on our situation and past property movements

    Bought land in officer in 2017 (200k)
    Built 4bd 2bth home on land in 2018 (200k)
    Sold House in 2019 for 540k (100k profit minus all fees)

    Bought large original 5 bed home on 1300m2 in chirnside park in 2019 (740k)
    Is now valued around the 1million mark today, Can add another 200-300k for another 500k return on top so we have equity there for the next move.

    We are expecting our first child and whilst we love where we are and the potential of home we can have and will be here for at least 5 10 years, i have always dreamed of owning a few acres and my partner wants to live near the beach.

    Ideally we would like to purchase this now or relatively soon, because the plan would be that we rent it out so it would contribute to the mortgage but also camp on the land when we can whilst its being rented over the next decade. When it comes to make the move we would sell up the home we are currently in or rent depending on the market and build our dream home on the land. Selling would most likely allow us to be mortgage free.

    Due to this being a long time away we are happy to buy somewhere ahead of the sprawl in hope by the time we are ready to move down there the sprawl is occurring or is close by.

    Has anyone done the same or is looking? What suburbs would you reccomend that are desolate now but could be overhauled or are be apart of the expansion in the next 10-15 years?

    We are in Ringwood now and our limit would be around the 2 hour mark from here so we can shoot down on weekends but also not be far from our roots when we make the move. We are just looking for a few acres near the beach. Currently have looked at places such as bass and canons creek. But thats only just over an hour from us so can look further.

    I am hoping someone is in the same position or has done it and can give us great outlook on suburbs that are desolate now and can get relatively cheap but be almost urbanised in the next decade or so such as Phillip island or the mornington peninsula is now or atleast has a community.

    Thanks in advance guys.
     
    Andy2022 likes this.

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