500-550k melbourne

L

laiyat

I am looking to buy a half investment half live-in place in Melbourne with the MAX price of ~550k, prefer to be ~500k for a bit easier repayment, as i need to get 90% loan.

I am single and thinking to rent out rooms to help out mortgage. In future, it may become a investment property and rent the whole house out when i have enough equity to buy the second.

I work in city and travel by train, therefore i need to find a suburb that can travel 30-40 mins to city by train, the place need to be close to station 10-15mins walk max, need to be safe to walk alone at night.

searching criteria:
500-550k
~30-40mins train to city
10-15mins max walk to station
house on its own land, ideally ~400m2
3 bedrooms (rent out 2 rooms)
prefer north or eastern suburb (if i can afford any in the east)
easy rent out, potential capital growth

welcome for ANY suggestions and advice !!!! Thanks in advance !!!
 
Y Man

I looked at the Greensborough one. It is right on the train line. It is so close that when the train goes by you jump!!!!

This is a busy train line, so there are a number of trains per hour.

Chris
 
chrispy said:
Y Man

I looked at the Greensborough one. It is right on the train line. It is so close that when the train goes by you jump!!!!

This is a busy train line, so there are a number of trains per hour.

Chris
Click to expand...

Hey well, the OP just said "easy to rent" - I'm sure someone will rent it...for a (low) price :D

The Y-man
 
laiyat said:
I am looking to buy a half investment half live-in place in Melbourne with the MAX price of ~550k, prefer to be ~500k for a bit easier repayment, as i need to get 90% loan.

I am single and thinking to rent out rooms to help out mortgage. In future, it may become a investment property and rent the whole house out when i have enough equity to buy the second.

I work in city and travel by train, therefore i need to find a suburb that can travel 30-40 mins to city by train, the place need to be close to station 10-15mins walk max, need to be safe to walk alone at night.

searching criteria:
500-550k
~30-40mins train to city
10-15mins max walk to station
house on its own land, ideally ~400m2
3 bedrooms (rent out 2 rooms)
prefer north or eastern suburb (if i can afford any in the east)
easy rent out, potential capital growth

welcome for ANY suggestions and advice !!!! Thanks in advance !!!
Click to expand...

Hi laiyat,

Look at mulgrave,springy north,noble park north with that budget.

Boronia,FTG.UPFTG and surrounds,maybe worth a look.

Cheers Spades.
 
If you're wanting to be on the East side you'll be quite far out from the city. Boronia, Croydon, Fern Tree Gully, Mooroolbark & Lilydale.

Alternatively you could try going North... Reservoir is half the distance and you might be able to squeeze in here... Very different area to live in from the East though.
 
Jake Milne said:
Alternatively you could try going North... Reservoir is half the distance and you might be able to squeeze in here... Very different area to live in from the East though.
Click to expand...

Got to say, went by Reservoir Staiton the other day, and didn't look like a place I'd want to go walking through at night (might just be perception issue, but........). Oddly Thomastown Station looked a hell of a lot "safer". (Been there in the evenings)


The Y-man
 
The Y-man said:
Got to say, went by Reservoir Staiton the other day, and didn't look like a place I'd want to go walking through at night (might just be perception issue, but........). Oddly Thomastown Station looked a hell of a lot "safer". (Been there in the evenings)


The Y-man
Click to expand...

Thomastown is more of a family area Y man.
 
Also depends on the type of tenants you are comfortable to live with. Eg if students then it needs to be closed to uni
 
We had similar requirements to you (with a range that was 50K less) and were originally keen on Reservoir but were about 12 months too late.

Have a look at suburbs along Pascoe Vale Rd - you might be able to squeeze into Pascoe Vale or Oak Park.

Otherwise I can recommend Glenroy (western side of the Railway is actually quite pleasant -13KM from the City, 30min by train to Exhibition St).
 
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