Hello all,
I have a budget of 150K with which I want to buy at least 300 sq mt plot. Can anyone suggest me good outer suburbs where I should target my buying. I am new to Melbourne so I am clueless about different suburbs. I don't want to invest for profit, rather I want to build my dream home on that land. So the area should be safe, livable and close to the city.
As others have said, $150k for land will get you into a suburb without the greatest of reputations (or with none at all if a new subdivision) and some distance from the city.
However you state you want to build a 'dream home'.
So I take it that you're willing to compromise greatly on the location but not at all on the house itself.
That's a choice some people make; suburbs like Greenvale and Lysterfield are full of large and expensive 'dream' houses in B-grade locations with few services (though usually on blocks larger than 300 sq m).
However have you considered if you'd get better value by compromising more on the house but compromising less on the area - eg by buying established in a better area with better access, lower crime and liveability?
You lose the 'custom built' aspect of a new home (something you pay dearly for but which is not necessarily going to be valued when you sell - and the chances are that within 20 years most homeowners do sell and move).
But my own and others experience is that even though the home you buy is a compromise (people's dreams always seem to exceed their budget) you do grow to love it and the area if you've bought well.
