VIC Where to buy PPOR in Melbourne area with 600K?

We plan to spend up to 600K for PPOR. Here are some criteria we think of:

- Suburb: Family-friendly and about 20-30 minutes to CBD on train. We are considering around Sunshine, Albion or St Albans.
- Property type: House preferred. One reason I'm looking at these areas as it looks like we can buy a 500-600 sqm BV house there with that price, not sure about quality and needed reno. But we're open to other options.
- Capital gain: At this moment we think our intelligence is not with real estate yet. So we'd rather not engage in a fight with market, i.e., not try to beat or be beaten by it. Plus, as a PPOR we aim at residing long term there, say around 15 years if conditions don't force us to move such as employment opportunities. So for this one I'm aiming at preventing loss rather than gaining profit. For example, if we sell it after 15 years, we expect the gain would be comparable to index investing. Is it too much to expect?

We did some research and scouting but admittedly we feel unsure. So I'd like to ask for your thoughts about this. In particular, what would you buy with this money?

Also, we have a child and plan to have more but I didn't mention about the school as we're thinking about "buy the worst place at the best school catchment", probably a studio and rent out. Is this solution naive?

 

You're already looking in the right places, and definitely looking for the right type of property! Also consider Ardeer, Kealba, Kings Park, Keilor, Keilor Downs, Taylors Lakes and Sunbury.

 

I've lived in the Melbourne's west for a long time > 15 years and I think I know enough to tell you that you shouldn't buy in Deer Park, Kings Park, Albanvale, Kealba and some parts of Sydenham. If you want to live in the west, Taylors Lakes, Keilor, Burnside Heights, Hillside are probably better options. A mate of mine lives in Hillside, he's about 5 min drive from the trains, 6-7 mins from Watergardens Shopping Center. I've been in punch-ups in Sunshine aka Scumshine, St Albans, Sydenham and I wouldn't venture alone on foot after dark most days, just doesn't feel safe and I am not a wuss by any means. I've got 2 year twin toddlers and would never live in the aforementioned 'burbs.

 

Met a guy through Airtasker from st Albans (Indonesian) he was saying during his builds townhouses guys would come at night to throw stones at the window - it got bad that he had to get some security to sit there till finished. His house has been broken in multiple times as well and they even stole his detergent. Similar stuff said from a guy I know who is a building manager in sunshine.

 

Exactly @melbournian, I don't "get" the hype around Sunshine and St Albans and the OMG prices there. I'd never live there with my family even if someone gave me a free house. People that talk it up need to walk on the mean streets there and I can almost guarantee a mugging after dark. The hostility in the eyes of the ethnic minorities (the type that wear ill-fitting clothes, listen to rap music, you get what I'm saying) is so frickin' obvious. I used to carry a thick chain on me for some protection for walking home from the Scumshine shopping center. I didn't have to use it but I did have to bring it out four times that I can remember.

 

@Westie to be fair - lots of infrastructure being put into sunshine and st albans. it is rough too in the north. what kind of muggings were committed back then and any stories you can share from your personal experience ? and by which ethnic minorities? @ATANG - better get that chain ready

 

What a load of ill informed, biased, grade A ********. All these suburbs are perfectly fine. My grandparents (both sides) have been in the west for the entire time since coming to Australia, and they haven't seen anything like what you described.

I haven't been in any punch up anywhere...do you think that may have something more to do with the people that you're associating with? Or maybe even your temperament?

 

I guess for PPOR, it is always an opinion whether a suburb is safe or not. The easiest is for the OP to try to rent on those suburbs first and see if they like it to live it or not, before buying.

 

I've no intentions of engaging in meaningless diatribe with you mate. This is what I experienced and I usually mince no words. For the record, I'm from an Indian background and DEFINITELY don't associate with the sorts of people I described above. In each of the incidents I was in, bar one, I was alone. You can call it opportunistic or intentional, either way, I never intended to muck with any of those individuals. Almost each time it happened when I was coming back from work or going to work. I never flaunted phones or anything else which might attract unwarranted attention. They just set upon me, almost got knifed once near Sydenham train station. They were about 10 of them versus me. Luckily I managed to escape. One time I was heading with a friend for a night out, warm Friday evening, 7pm (not late in my books), Albion station. Group of 8 Afro males, stole my phone and wallet, bashed my mate who wouldn't hand his stuff over. I got punched several times too, managed to land 2-3 of my own. Very luckily for us, a cop on his way to work noticed the melee and we were saved. Another time, after gym, mate and me headed to the Coles in Keilor Downs (the one on Taylors Road, next to the aquatic center) to pick up groceries. 2 Afros coming out, I just glanced at them and looked the other way just like you'd anyone else. Guy in white shirt goes - WTF you looking at <expletive>? We walked on, he keeps repeating the same drivel, we kept walking. We finished our shopping, shopping bags in hand, we walked out. Heading to our car, and as luck would have it, the scum was standing about 7 cars away. I told my mate, I think we're on. Sure enough, a punch-up ensued, we gave them some hard knocks, someone yelled call 000, the punks managed to run away. That was that.

As for my temperament dude, you don't know me, right. I'm highly likely the most honest, straightforward and helpful person you'd ever meet. You've got not the slightest clue as to how many folks I've helped get to their professional goals.

Is this biased A grade opinion? To each their own I guess. For the record, I wish and hope your folks remain safe. Scumshine isn't Scumshine for no reason.

 

Wow that's scary. Thank you for sharing. Its helpful for someone having no knowledge of Melbourne suburbs.

I live in Sydney and fortunately I havent seen any such scumbags here.

 

I was at the auction at Mulhall Drive, St Albans. The property was unoccupied for about a year as the owner couldn't pay mortgage. Looks like it would need around 30K to bring it back to life. Quoted price was something 525-545K I can't remember, but it ended up some 625K. I was going at 550K for it, two far behind haha. But inputs from Westie do ring an alarm. It may be not bad that I missed it.

We are also considering other options though. I was at another auction at Altoona Meadows, can't remember the exact address. The property looked so right that I thought it would go well over my budget, say, 700K, and so I didn't stay (to go back to Mulhall on time for auction). It ended up at 620K! For a minute I wanted to bang my head with something This is a tricky game.

 

In Melbourne's defense though, I absolutely love my city and wouldn't live anywhere else (maybe Mountain View in the US is an exception) and I've managed to keep outa trouble for the past 8 or so years. I live in Williams Landing now and Laverton before this, have had no issues so far. Just gotta be street smart like anywhere else.

 

Apparently there's a lot going in St Albans mate, infrastructure wise at least. As for Altona Meadows, I quite like it there and yeah it's pricey there. I reckon you should look at schools first as to where you want your kiddo going and then hunt for a place to live closeby/in the catchment area.

 

Oh god, it's not THAT bad! I grew up in the West (Footscray, St. Albans then finally Marirbrynong) for a combined 18 years...and that was during the bad days.

If anything, North is WORSE

 

Lol, maybe I've been just unlucky. Anyways, to each their own. This was just my experience, YMMV. I've no more to contribute to this thread.

 

So scary meh

 

I'm going to be honest, St. Albans and the West is never really going to be as quiet or quaint as say the Inner East or something like a model middle rung like Glen Waverley is, but on the other hand it won't be as what people conjure up it as to be.

I currently live in Chadstone and prior to that spent a few years in Sydney and lived in Glen Waverley (where my folks live). From my general experience having lived on both sides is that yes, generally there are less shady characters in GW (lived there for about 3-4 years) than say a St. Albans but it's not as if there are muggings every 2nd day at St. Albans station.

Generally I think the West is where most poorer immigrants at whatever point in time settled. The North is plague more or less by large numbers of commission or ex commission housing...

 

bring those crumpler backpacks put some hammer in the back

 

Well, i am not going to say it's the best suburb to live in, but just asking...what would its todays median price be if it hasn't got these bad press or local impression? Similar distant in north is close to double the price tag, east and south east are 2-3 times higher...

Living and investing are different, when you put in PPOR factors, it gets complicated and everyone has own opinions and criterias where they want to live, but investing should be as simple as buy low sell high based on fundamentals.

 

I think you've had some unlucky moments bud..I've been living in Kings park for over 10 years and never been jumped or robbed on the streets.
Walking at night in any suburb is dangerous in my opinion..