VIC Where to buy land or Knock down rebuild for ppor outside Melb

Discussion in 'Where to Buy' started by berten, 21st Aug, 2018.

Join Australia's most dynamic and respected property investment community
  1. berten

    berten Well-Known Member

    Joined:
    12th Jul, 2018
    Posts:
    600
    Location:
    Melbourne
    Hey all,

    I'm looking for a minimum 1000sqm to build an architectural PPOR in greater Melbourne. I don't need to be anywhere near the cbd as I work from home, do want to be near decent schools for my kids.

    Budget 850k or so.

    Currently I'm considering the Mornington Peninsula. Especially Mount Eliza. Any other areas I should look at? And is there anywhere to search for land outside of Domain and RE.com.au?

    Any advice appreciated.

    Thank you.
     
  2. albanga

    albanga Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    2,701
    Location:
    Melbourne
    How much are you planning to spend on your build because that really dictates the response.
    For the size of the block your looking for and your likely spend of 500k+ then your going to have to go VERY far out on that budget.
     
  3. berten

    berten Well-Known Member

    Joined:
    12th Jul, 2018
    Posts:
    600
    Location:
    Melbourne
    850 (would prefer much less) is for the land only. 7-800 or so to build.

    1000sq is pretty easy to find on the peninsula. Woodlands area of Mt Eliza 3ksq is pretty normal.

    Mooroduc, Langwarrin seem to have land a bit cheaper. Schools are not good, but there are good private options nearby.
     
  4. rook2017

    rook2017 Well-Known Member

    Joined:
    15th Mar, 2017
    Posts:
    196
    Location:
    VIC
    It also depends on if you want to be closer to the water, train station (although of those Langwarrin will be probably the closest), shops etc.
    I'd personally rank those as 1.Mt.Eliza, 2. Mooroduc and Langwarrin unless you want to go further down the Peninsula and find a spot in Dromana, Safety Beach...

    Another option to consider - Frankston South...
     
  5. berten

    berten Well-Known Member

    Joined:
    12th Jul, 2018
    Posts:
    600
    Location:
    Melbourne
    Agree on your rankings.

    I think Mount Martha is the furthest I would go in that direction.

    Train station isn't important.
     
  6. rook2017

    rook2017 Well-Known Member

    Joined:
    15th Mar, 2017
    Posts:
    196
    Location:
    VIC
    Mount Martha is a good option too. A block of land with a nice view on Mornington peninsula is the best spot for a nice house on a big block, with everything at your doorstep - the bay, wineries, easy access to Eastlink and Peninsula Link and good people too.
     
  7. berten

    berten Well-Known Member

    Joined:
    12th Jul, 2018
    Posts:
    600
    Location:
    Melbourne
    Sounds like I'm on the right track then. Thank you for the input
     
    rook2017 likes this.
  8. alicudi

    alicudi Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    423
    Location:
    Melbourne, Australia
  9. berten

    berten Well-Known Member

    Joined:
    12th Jul, 2018
    Posts:
    600
    Location:
    Melbourne
  10. albanga

    albanga Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    2,701
    Location:
    Melbourne
    Sorry I misunderstood. Your budget is 850k for the land or house to knock down. Your then going to have a budget to build on top of that.
    That gives you a lot more options then :)
     
  11. Ricki barkham

    Ricki barkham Well-Known Member

    Joined:
    16th Aug, 2018
    Posts:
    300
    Location:
    Pakenham
    Have you thought going out to country.

    Bigger cheaper blocks out near warragul or bairnsdale
     
  12. berten

    berten Well-Known Member

    Joined:
    12th Jul, 2018
    Posts:
    600
    Location:
    Melbourne
    I did look at Warragul, it looks really nice out there. Only issue was the schools didn't seem great, and the private options are religious.

    One other point I should have mentioned is we have family in Clayton, so prefer the South side unless there's a big motivator to buy elsewhere.
     
  13. Ricki barkham

    Ricki barkham Well-Known Member

    Joined:
    16th Aug, 2018
    Posts:
    300
    Location:
    Pakenham
    How do you know is achools are great?
     
  14. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,101
    Location:
    Sydney or NSW or Australia
    Wherever good schools and NBN fibre to the premises is available.
     
  15. Ricki barkham

    Ricki barkham Well-Known Member

    Joined:
    16th Aug, 2018
    Posts:
    300
    Location:
    Pakenham
    We looking at acre of.land at bairnsdale that has nbn amd schools
     
  16. berten

    berten Well-Known Member

    Joined:
    12th Jul, 2018
    Posts:
    600
    Location:
    Melbourne
    Hey Ricki, It's always a bit speculative re schools, but a starting point for us is the Naplan scores on goodschools.com.au, and anecdotal school reviews from parents. That, in addition to looking at the curriculum , local crime statistics and anecdotal suburb reviews on Homely or from people we know.

    That's my technique at least....
     
  17. Ricki barkham

    Ricki barkham Well-Known Member

    Joined:
    16th Aug, 2018
    Posts:
    300
    Location:
    Pakenham
    Good idea
    Never heard of any of that stuff lol
    My wife said the schools are good out at bairnsdale so i wonder what she used for her selection.
    Ill discuss those points with her.
    Thanks
     
  18. berten

    berten Well-Known Member

    Joined:
    12th Jul, 2018
    Posts:
    600
    Location:
    Melbourne
    Cool, good luck with your hunt!

    To be fair, everyone's got a different take on what makes a good school and the wife and I are probably a bit pedantic.
     
  19. Younginvestor2

    Younginvestor2 Well-Known Member

    Joined:
    26th Dec, 2015
    Posts:
    100
    Location:
    Sydney
    How about Traralgon? One hour to beach, one hour to ski, good community, great schools, newly developed hospital, vline straight to Clayton
     
  20. berten

    berten Well-Known Member

    Joined:
    12th Jul, 2018
    Posts:
    600
    Location:
    Melbourne
    Don't know of it, but I will look into it. Thanks for the tip.
     

Buy Property Interstate WITHOUT Dropping $15k On Buyers Agents Each Time! Helping People Achieve PASSIVE INCOME Using Our Unique Data-Driven System, So You Can Confidently Buy Top 5% Growth & Cashflow Property, Anywhere In Australia