Hi all,
Just trying to narrow down a search area to start looking more in-depth at.
Decided the time is right to make a purchase, just got to decide where.
Ideally, we'd like a house on a decent bock with some potential to add value but not something that needs masses of work.
Budget is $350k
We're not really interested in apartments or small units.
We have looked in the past, and currently are looking in Somerville, mainly as we spent a lot of time looking here before and got a good feel for the place, so much so we moved here ourselves! It has good facilities, a train line which may or may not get upgraded at some point, close to the Peninsula but not at all a tourist town and easy access to the new Peninsula Link. It's also surrounded by some nice rural properties. Prices seem to have done ok in the last couple of years, I'd guess looking at whats available now that the $300-$320 range from two years ago is the $330-$350 range now. There's about 18 3 bed houses of similar looking value currently listed as available to rent on RE.com in the $300-$350 range. There are tons of sub-divisions going on, so there is development money being spent. Trave time to south of the CBD by car is an hour now, 1:15 home at 5pm from St Kilda Road, and 1:35 by train with a change at Frankston.
I don't think we'll see huge CG here, but as we are gong to buy to hold, that's not necessarily an issue, as long there's some steady growth.
My other thoughts at the moment are to go coast or country and look for something around say Rosebud West. Pro's are proximity to beach and the new freeway opens up easier access, everyone loves the beach so if there's ever another boom there's potential for good CG. Cons are I know NOTHING about the area and have heard a few bad reports. No real public transport. Not much in the way of jobs, so limited rental potential?
Country, The Basin really appeals, but that's more emotional. I love the hills and countryside. Ferntree Gully looks like it could be OK, train lines, shops and road access. Prices look good, but I don't know much about the area. The Basin looks great from an emotional pint of view personally (yes I know, keep emotions out of it), big blocks, big houses and views so why so cheap? It seems relativley close to Ferntree Gully but you get a good bit for your money.
So, thoughts on Somerville, Rosebud West, Ferntree Gully & The Basin (and surrounds) would be awesome if any of you have opinions on these areas, or better still own/live in them.
Thanks.
Tone.
Just trying to narrow down a search area to start looking more in-depth at.
Decided the time is right to make a purchase, just got to decide where.
Ideally, we'd like a house on a decent bock with some potential to add value but not something that needs masses of work.
Budget is $350k
We're not really interested in apartments or small units.
We have looked in the past, and currently are looking in Somerville, mainly as we spent a lot of time looking here before and got a good feel for the place, so much so we moved here ourselves! It has good facilities, a train line which may or may not get upgraded at some point, close to the Peninsula but not at all a tourist town and easy access to the new Peninsula Link. It's also surrounded by some nice rural properties. Prices seem to have done ok in the last couple of years, I'd guess looking at whats available now that the $300-$320 range from two years ago is the $330-$350 range now. There's about 18 3 bed houses of similar looking value currently listed as available to rent on RE.com in the $300-$350 range. There are tons of sub-divisions going on, so there is development money being spent. Trave time to south of the CBD by car is an hour now, 1:15 home at 5pm from St Kilda Road, and 1:35 by train with a change at Frankston.
I don't think we'll see huge CG here, but as we are gong to buy to hold, that's not necessarily an issue, as long there's some steady growth.
My other thoughts at the moment are to go coast or country and look for something around say Rosebud West. Pro's are proximity to beach and the new freeway opens up easier access, everyone loves the beach so if there's ever another boom there's potential for good CG. Cons are I know NOTHING about the area and have heard a few bad reports. No real public transport. Not much in the way of jobs, so limited rental potential?
Country, The Basin really appeals, but that's more emotional. I love the hills and countryside. Ferntree Gully looks like it could be OK, train lines, shops and road access. Prices look good, but I don't know much about the area. The Basin looks great from an emotional pint of view personally (yes I know, keep emotions out of it), big blocks, big houses and views so why so cheap? It seems relativley close to Ferntree Gully but you get a good bit for your money.
So, thoughts on Somerville, Rosebud West, Ferntree Gully & The Basin (and surrounds) would be awesome if any of you have opinions on these areas, or better still own/live in them.
Thanks.
Tone.