Hello everyone,
This is my first post here. I am currently on the hunt for buying a house to live in. I have no knowledge in this field.
I am looking to buy a house around the Hoppers Crossing/Werribee/Tarneit area. My budget is under 300 K (House and Land) . Looking for a 2 BR. I will be staying/holding on to this house for 10 years and then will be moving overseas.
I am currently paying $1500 in rent and will need to pay a little more if I am buying a house within this range.
Could you please let me know, if this is a viable investment taking into account that I'll be selling this property around 10 years.
I had a look at the suburbs today. I found Hoppers crossing to be well settled and tarneit/truganina to be having so many new houses and currently far from the nearest railway station. I will be travelling to the city daily for work.
I am currently in living in Regent (Norther suburbs) and I love it here. I am also thinking of an option to buy a pre established property around Thomastown/Lalor/Epping area.
Please give me some suggestions in this regards.
Thanks all,
Sunny
For under $300k you would be better off looking in Laverton. If I was a betting man I would bet my life that Laverton will increase in Value faster then hoppers crossing. Remember Laverton is zone one and easy access for the freeway.
Thanks jmsrachel and plc. I will be looking to houses in Epping. Is Hoppers crossing any good amongst the ares I mentioned ?
Personally I'm not a fan of that area, however you are limited with your budget on where you might be able to afford.
In the end, even though you are looking for future capital gain you will be living in the property long term, so you will need to be comfortable with where you decide to buy and like the area.
Cheers
Tom
The vacancy rate in the Hoppers Crossing and Tarneit areas is HUGE. Lots of empty investment properties.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
In that case, am I better off investing in Werribee ? I really don't understand how one area is good compared to another. Like people told me that Laverton is good place for investing as it is close to the freeway and all, but HC is just like a 10 min drive from Laverton. And others said Werribee is better than HC which is a bit further away from HC.
Can anyone explain this.
I agree with JacM. You could include Laverton to that list. The vacancy rate is really big so why do you still get people crying on A current Affair because there is a shortage of houses to rent? Doesn't make sense
sundeepguntu wrote:In that case, am I better off investing in Werribee ? I really don't understand how one area is good compared to another. Like people told me that Laverton is good place for investing as it is close to the freeway and all, but HC is just like a 10 min drive from Laverton. And others said Werribee is better than HC which is a bit further away from HC.Can anyone explain this.
Take this advice from a person that lives near the area. The traffic in Hoppers and Werribee is so bad by the time you get to work in the morning you feel like killing someone. You have people from point cook, tarneit, truganina, hoppers, werribee, etc all trying to get on the freeway and it ends up one big car park!
With Laverton you miss 95% of that becuase it's not as far in as Hoppers and werribee.
jmsrachel wrote:I agree with JacM. You could include Laverton to that list. The vacancy rate is really big so why do you still get people crying on A current Affair because there is a shortage of houses to rent? Doesn't make sensePerhaps these people are on the RE blacklist. With plenty of time on their hands to spend whining to A Current Affair about how tough their life is.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
They must be! Take a drive to Point Cook. Hundreds of them, all empty. There is really no excuse to live in your car any more.
Just because someone wants to rent a place, does not automatically entitle them to rent a property that someone else is paying the mortgage on, default on the rent and trash the place. I would imagine if you put someone into your property knowing the background checks on them were dodgy, your insurance company would not be keen to honour a claim. So in a nutshell, you have to tread carefully with hitting the panic button and taking just any tenant.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
When you look at suburbs to invest in, you need to look at the wider picture and see what they offer.
Are there enough roads to handle traffic flow, does it have suitable public transport, schools, shopping centres, etc? If not, are there any master plans to expand on these? This goes a long way to securing capital growth in the future.
Likewise as others have mentioned demand for properties. Less demand means lower prices but also means less growth in the future.
Those are reasons why the places mentioned aren't looked upon as good investments.
Cheers
Tom
jmsrachel wrote:Take this advice from a person that lives near the area. The traffic in Hoppers and Werribee is so bad by the time you get to work in the morning you feel like killing someone.
jmsrachel speaks the truth. It is a growth corridor… which means more houses but not more infrastructure in proportion with the growth.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Thanks folks for the input. I'll be looking for houses in Thomastown and Epping. Most likely a pre established property. Am I better off buying a pre established property in these areas compared to a house in the suburbs I mentioned above ?
Both these suburbs are zone 2 but this is the area I am used to (I live in Reservoir).
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