VIC Where to buy in Melbourne now?

Discussion in 'Where to Buy' started by Sherl82, 11th Jul, 2017.

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  1. Sherl82

    Sherl82 Member

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    Hi all,
    First time poster. A little bit about me, I'm 34 live in south eastern Melbourne. I have approximately 70k saved to buy a house. Im a utilities worker on approx 120k per year.
    I'm want to go down the rent vest strategy as I want to live inner but I'm priced out of the market.
    I want to by a house instead of a inner city apparentment. I want a quality asset that will have strong capital growth.
    With my budget in mind, what are the suburbs in should be looking at?
    Currently, I've been thinking;
    Geelong
    Clyde North
    Seaford
    Cranbourne

    Any advice would be great.
    Cheers
     
    Northboy likes this.
  2. purplecat

    purplecat Well-Known Member

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    What's your budget?
     
  3. Sherl82

    Sherl82 Member

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    450-500k
     
  4. sauber

    sauber Well-Known Member

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    Get me down to funky town!
    Seaford Don't bother. Your priced out there. I'd be going Geelong or cranbourne in that budget. 12 months ago your could have gotten into frankston market. Not now...
     
  5. JacM

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

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    I am still seeing the odd decent opportunity sub 500k in Melbourne Metro.
     
  6. is_don_is_good

    is_don_is_good Well-Known Member

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    Frankston North. You can get a house on a sub-dividable block right near the border of Seaford in that price range.

    The area is going up so get a house that needs a renno or get planning approval for some units and you'll get some good equity.

    Look at the houses for rent on realestate and a lot of the old commission housing stock has been sold off, renovated and updated. It's not that ghetto anymore.
     
  7. sauber

    sauber Well-Known Member

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    Get me down to funky town!
    Yeah you'll get a run down place there in FN. On a good sized block most likely 600sqm+

    Just be aware stay excelsior drive side of FN near maccas
     
  8. google boy

    google boy Well-Known Member

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    buy in Dallas mate,
     
  9. Poppy

    Poppy Well-Known Member

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    Footscray
     
  10. purplecat

    purplecat Well-Known Member

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    I'm no expert but if it were me I would consider Geelong, Cranbourne or Werribee
     
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  11. atreyufan

    atreyufan Member

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    A lot of places going in Cranbourne around that bracket, some on decent blocks but i'd be wary of which sections you look at.
    I attended a few opens about 6 weeks ago, some viable options that didn't have a huge amount of interest so I think you could do well within that price bracket.
     
  12. Sherl82

    Sherl82 Member

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    Renting in Clyde North I feel with all the housing construction going on there will be considerable lag time before infrastructure catches up. Traffic on Clyde rd is ridiculous in the morning.
    I've noticed many completed houses are put up for rent. Are these all investors estates getting built?
    Geelong seems good as it is close to water, has rail and still presents value. Very had to gauge the market now as banks are tightening lending with suggestions we have hit the top of the cycle.
     
  13. Brendon

    Brendon Well-Known Member

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    Sherls!!
    How are ya mate?
    If you came out of retirement and kept kicking bags of goals your price range might increase a bit! Hahaha

    I bought down in Geelong a couple of months ago, the market seems to be pretty hot down there but prices are still reasonable.
    I'm far from an expert but if you have any questions shoot us a msg.

    Doyley
     
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  14. Tony66

    Tony66 Well-Known Member

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  15. Sherl82

    Sherl82 Member

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    Clyde North had 16.8% growth in the last 12 months.