All Topics / Help Needed! / Have $370,000 to spend in Melbourne

Viewing 11 posts - 1 through 11 (of 11 total)
  • Profile photo of Reno QueenReno Queen
    Participant
    @reno-queen
    Join Date: 2006
    Post Count: 62

    Hello

    We had finance approved for $370,000 in Qld which includes legals etc to buy a property but it failed the building inspection.

    Wasnt too bad but we decided not to go ahead.

    So have decided to purchase in Melbourne or Victoria and looking at a unit or house around $350,000

    Flying down next week so anyone know of some good hot spots for RE in Melbourne or outer or even country areas for the above price?

    Reno Queen

    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    Hi there,

    Here a few spots for you to start focussing on.  Look at http://www.domain.com.au or other appropriate websites to establish what the "buy" vs "rent" prices are in the area.  Also use google maps to see what the neighbouring suburbs are, and research them to see what king of activity is going on there, and how this might assist you in guessing what will happen in your target suburbs in the months and years to come.

    Laverton
    Sunshine
    Wyndham Vale
    Werribee

    If you are keen to actually renovate the property, look very hard at Laverton.

    Good luck!

    Jacqui Middleton | Middleton Buyers Advocates
    http://www.middletonbuyersadvocates.com.au
    Email Me | Phone Me

    VIC Buyers' Agents for investors, home buyers & SMSFs.

    Profile photo of Reno QueenReno Queen
    Participant
    @reno-queen
    Join Date: 2006
    Post Count: 62

    Hello JacM
    We think also Fairfield and Preston

    Yes we agree Werribee is a good choice

    We are from Melb originally but it would have changed a lot in the last 21 years we have been in Qld

    Profile photo of climbingjacclimbingjac
    Participant
    @climbingjac
    Join Date: 2009
    Post Count: 8

    Reservoir, Thornbury, Coburg…

    Profile photo of Reno QueenReno Queen
    Participant
    @reno-queen
    Join Date: 2006
    Post Count: 62

    We have booked our flight to Melb for end of January.

    Have found that we can buy a unit within our  budget in a few areas.  I have since found out a relative owns an agency in Melbourne so that will be a big help for us .

    How does Preston, Coburg, Clifton Hill Heidleberg  etc compare with each other?

    I am from Heidelberg originally and like all areas some streets are better than others.

    Would a unit very close to a train station be an advantage or disadvantage?

    Profile photo of YoungInvestorYoungInvestor
    Participant
    @younginvestor
    Join Date: 2003
    Post Count: 377

    If it is walking distance, it is generally a good thing and proximity to public transport is a big plus in a lot of areas.

    If it is TOO close to the railway line, this can sometimes be seen as a negative due to noise.

    Profile photo of JpcashflowJpcashflow
    Participant
    @jpcashflow
    Join Date: 2007
    Post Count: 575

    Hi, I work for a real estate agent called hocking stuart i am based in werribee and i have about 10 properties in that price change to show you.
    You can call me on 0451 001 457
    and see exactly what you are looking for

    cheers
    Johann Psaila

    Jpcashflow | JP Financial Group
    http://www.jpfinancialgroup.com.au
    Email Me | Phone Me

    Your first port of call in finance :)

    Profile photo of Reno QueenReno Queen
    Participant
    @reno-queen
    Join Date: 2006
    Post Count: 62

    We payed $50 for the Terry Ryder Hot spots report and well worth it.

    We have added Maribyrnong to our list

    so far  we will look at

    Preston   Footscray   Maribyrnong  Brunswick (even though is now expensive)  Frankston  and a few more

    Reno Queen

    Profile photo of vita22vita22
    Member
    @vita22
    Join Date: 2009
    Post Count: 12

    Take a look at Seddon and I agree with the above that some pockets of Footscray are worthwhile (careful though of council housing areas).

    Funny how the grass seems greener… we are currently in VIC but are looking to QLD as a place for better opportunities.

    Profile photo of Reno QueenReno Queen
    Participant
    @reno-queen
    Join Date: 2006
    Post Count: 62

    Hi Vita22 and others

    I think its good to look at a property interstate as it makes you do more research. We probably wouldnt have bought the $50 report if we werent looking in Melbourne.

    My husband went to Footscray Tech and cant believe the  changes to Maribyrnong.  All he remembers is the industry that was there and the quarry etc

    Also are looking at Flemington also

    Profile photo of Reno QueenReno Queen
    Participant
    @reno-queen
    Join Date: 2006
    Post Count: 62

    Hello

    Its funny how things happen.
    We had to delay our trip to Melb and just went around loking for a place we could buy for ourselves in Qld

    We needed a house with access around the back and at least a 4 car garage.

    We then found a  house with what we needed yesterday and have put a contract on it.

    This will be in another thread I'll start as it has sub division potential.

    So maybe it was good we delayed our trip to buy in Melb at this time

Viewing 11 posts - 1 through 11 (of 11 total)

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