Hi everyone.
Have not been on in a while.
We just bought our second IP 2 weeks ago.
3br, 2 bathroom, double garage, 666sq property in Hillside in the (Bellvue Estate).
We paid $385 and believe it was a fair deal considering the asking price was $425K.
We were not looking to buy but keeping our finger on the pulse coz this place may become ppr in a few years..
Interesting story.
The vendor was a doctor who was a property investor and he is currently selling all this VIC properties to fund a large development. He is holidaying in Cuba so power of attorney was with his parents. They all live in QLD.
Based on market prices it is good value and because of the following I feel there is potential value in the property.
1. It was rented out so there are minor repairs to be done.
2. No pergolas etc have been erected as yet.
3. As the vendor was not emotionally attached to the property you dont pay for their emotions in the sale price!
4. Very family orientated estate close to shops and sporting ovals.
5. close to the back entrance to the Calder, no need to travel down 20 sets of lights to get on at Taylors Lakes entrance to the freeway.
6. House is only 9 years old.
Considering prices of houses in Taylors Hill (slightly newer estate) of approx $550 for 500 or so sq block Hillside is a good alternative, in addition , most houses are all federation style and not like Taylors Hill with one house modern, 1 ferderation and alternating nature strips of gravel, fake lawn etc.
As I posted in another thread, I wonder if the completion of Myers in 2013 at Watergardens shops will impact on house prices?
David
Time will tell..
Only downfall is closest train station is Watergardens.
Have not been on in a while.
We just bought our second IP 2 weeks ago.
3br, 2 bathroom, double garage, 666sq property in Hillside in the (Bellvue Estate).
We paid $385 and believe it was a fair deal considering the asking price was $425K.
We were not looking to buy but keeping our finger on the pulse coz this place may become ppr in a few years..
Interesting story.
The vendor was a doctor who was a property investor and he is currently selling all this VIC properties to fund a large development. He is holidaying in Cuba so power of attorney was with his parents. They all live in QLD.
Based on market prices it is good value and because of the following I feel there is potential value in the property.
1. It was rented out so there are minor repairs to be done.
2. No pergolas etc have been erected as yet.
3. As the vendor was not emotionally attached to the property you dont pay for their emotions in the sale price!
4. Very family orientated estate close to shops and sporting ovals.
5. close to the back entrance to the Calder, no need to travel down 20 sets of lights to get on at Taylors Lakes entrance to the freeway.
6. House is only 9 years old.
Considering prices of houses in Taylors Hill (slightly newer estate) of approx $550 for 500 or so sq block Hillside is a good alternative, in addition , most houses are all federation style and not like Taylors Hill with one house modern, 1 ferderation and alternating nature strips of gravel, fake lawn etc.
As I posted in another thread, I wonder if the completion of Myers in 2013 at Watergardens shops will impact on house prices?
David
Time will tell..
Only downfall is closest train station is Watergardens.
