All Topics / General Property / Where to invest? Point cook or altona nth?

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  • Profile photo of NatNat
    Participant
    @natas
    Join Date: 2015
    Post Count: 6

    Where to invest?
    Is it better to buy a 3 bed strata unit in altona north or a house in point cook for under $500k?

    What are your thoughts?

    Cheers
    Nat

    Profile photo of RedwoodRedwood
    Participant
    @redwood
    Join Date: 2013
    Post Count: 340

    Hi Nat – would not touch Point Cook, lots of H&L and heavily promoted to the chinese. Not sure on units there.

    Still think there are better opportunities than Altona – is this PPOR or investment? look at Footscray.

    Cheers Ivan

    Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
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    Profile photo of Jacqui MiddletonJacqui Middleton
    Participant
    @jacm
    Join Date: 2009
    Post Count: 2,539

    I agree with the sentiment on Point Cook. I would not touch it either. Oversupply of same same stuff and insufficient infrastructure to get people to and from work (single lane road gridlock traffic to bash your way towards the nearest freeway or train station).

    I also agree you should not necessarily be forcing yourself to choose between Point Cook and Altona North. There are plenty of other options out there.

    Jacqui Middleton | Middleton Buyers Advocates
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    Profile photo of NatNat
    Participant
    @natas
    Join Date: 2015
    Post Count: 6

    Hi Ivan
    Its For PPOR. I have read alot about Footscray but to live there, I wouldnt consider it for its well known heroin problem.

    I work in the city, drive to work, so need to consider traffic and ease of driving to work.

    Cheers

    N

    Profile photo of KingyKingy
    Participant
    @jjking
    Join Date: 2015
    Post Count: 1

    Hi Nat,

    I live in Footscray and I would like to change your narrow minded generalisation of this fantastic suburb in which to live.

    I’ve lived in many more assumed affluent areas in both the south east/east which are perceived in a better light, however I have found Footscray to be the most fantastic and underrated and hopefully one day will be a fully existing maligned inner city suburb from people such as yourself whom love to generalise and degrade an area mainly through ignorance and taking other’s comments as gospel after reading some comments? How about living here such as myself, it may change your perception and not to pass too much judgement on those ignorant generalisations in particular drug dealing or use there of. Are these comments from people whom can actually validate and have lived in the area in recent times? Is it a particular transport corridor pocket of this huge and highly populated suburb? I mean to discount a suburb as some drug dealing may take place within and most likely those that transit a station or plaza from outer areas (Footscray station is busiest outside cbd so yes get all walks of life transit here, however many professional highly paid people live in Footscray), how about you discount all inner city suburbs in that case? I’d had no issues with my house or my car (Off street parking btw) and yet I had in those other highly perceived more affluent areas.

    Footscray is booming and has been gentrifying every year ever since I’ve been living here in 2012 and is going to rapidly take place over the next 5 to 10 years, the cost of living here is exceptional as is the food and its people, its a fantastic place to live and yes I have a family of kids living here also! My street has a wonderful street party every Christmas and our neighbourhood is awesome unlike the sleepy boring eastern suburb I used to live in stuck in traffic everyday for work where no one seemed friendly. BTW I live only a street away from the hustle and bustle of Barkly St and its unbelievable the services/infrastructure I have literally at my doorstep. Please take off those rose coloured glasses and look a little deeper before giving an opinion of a suburb to someone else.

    I can validate an enormous array of reasons why Footscray is a fantastic place to live, if only you or others are willing to open your eyes and ears to listen a little please let me know as I can give you my honest validated views of this suburb that will outperform a lot of suburbs in years to come.

    Many Thanks

    J

    Profile photo of RedwoodRedwood
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    @redwood
    Join Date: 2013
    Post Count: 340

    Hi there – great to hear the support for Footscray, I have been investing heavily in Footscray for years, more due to the fact that I am not distracted by the ‘stigma’ but understand the ‘revitalisation’ of Footscray and proximity to the CBD. In the last two years I have seen apartment prices increase significantly, land values increase and town houses appreciate all with a low vacancy rate.

    People have caught up to Footscray though, we have have a lot of Foreign investors buy at ‘Riverside’ – which is an awesome development also.

    I am looking outside Footscray also, have done quite a bit in Braybrook which I am happy with in regards to long term prospects.

    Cheers Ivan

    Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
    http://redwoodadvisory.com.au
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    SMSF - PROPERTY INVESTMENT - WEALTH CREATION AND FINANCE SOLUTIONS

    Profile photo of neworleansneworleans
    Participant
    @creole
    Join Date: 2015
    Post Count: 2

    What are the desirable and not-so-desirable streets of Footscray?

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

    Try not to be snobby about areas that have proximity to the city. They polish up as suburbs closer in or on the other side of town get too expensive. By way of example, I can recall a time when I didn’t even want to be on a train that passed through Richmond, let alone get off the train there. It was a seedy seedy place. And now the entry price is prohibitive for most.

    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 #Planning Permit#Planning Permit
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    @planning
    Join Date: 2014
    Post Count: 64

    Footscray is a great place to live in and to develop. Dual occs and triple occs are the go. big demnand for end products too.

    #Planning Permit | AuArchitecture
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    Property Subdivision expert with 250 planning permits approved by Melbourne Councils

    Profile photo of mddedfmddedf
    Participant
    @mddedf
    Join Date: 2015
    Post Count: 43

    Totally agree, I live not far from footscray, love inner west melbourne!

    I was narrow minded one who claimed I would never live in western suburb. But since we moved here three years ago, I absolutely love here. We were renting first, then we decided to buy a house here. Compared to the places that I have lived before (balaclava, abbotsford & preston), inner west offers so many facilities and have most kindest people, the community supports young families in a very inclusive way.

    But if you have to choose between Point cook or Altona north, I would choose Altona north.

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