Melbourne for 600k and under

Hi guys,

Went went to an auction in East Keilor on the weekend and missed out on a place that sold for low 500's.

Our mortgage guy says we can buy a place to value of about 600K.

We want be close to freeway access and in a quiet area as we have 3 children. Also want good capital growth.

We were thinking Niddrie or Pascoe Vale and my wifes likes the sound of a large block in Eltham possibly

Any ideas or suggestions would be great.

Cheers,

Phil
 
I don't know much about Pascoe Vale or Nidree. However Eltham isn't really close to a freeway.

You may want to consider Nunawading. It may be hard to get a house for 600k there, but it's possible. Close to Eastern Freeway and train station.
 
Depending on your requirements for the house itself, Niddrie might be perfect. If you're after a "nice" house though you could be dissapointed in that price bracket.

If you're prepared to live in something small and not renovated maybe also look at Pascoe Vale South

Oak Park is also nice dont know too much about prices there though
 
Hi thomop,

You will find that prices will vary in pascoe vale depending on which area. In parts of pascoe vale bordering pascoe vale south (i.e not far from bell street) 600k will get you a fairly old unrenovated home on approx 500sq metres.

However if you go a little deeper into pascoe vale, i.e closer towards hadfield / glenroy border you can find yourself something decent for 600k.

Oak Park is a little cheaper, and still a nice area, houses near oak park station in liveable condition on larger blocks i.e 650 sq metres are selling 550-600.

I dont know a great deal about east keilor, niddrie, or eltham, but looking at recent sales (and also comparing the sale price to the quote / reserve price) can be really helpful.

Best of luck!

Mez
 
You will
find that prices will vary in pascoe vale depending on which area. In parts of pascoe vale bordering pascoe vale south (i.e not far from bell street) 600k will get you a fairly old unrenovated home on approx 500sq metres.

However if you go a little deeper into pascoe vale, i.e closer towards hadfield / glenroy border you can find yourself something decent for 600k.

Spot on Mez!

Thomop, hello again ;o) - since you've got kiddies, are schools an important point for you? They were for us, and in the end that was our deciding factor between PVS/PV. We bought in PVS close to the boarder of PV, a pretty run-down 3 bedder on 500sq in December for under $500k. If you can live with a 'fix me up', I think you'll be on to a winner. If you wanted to go public school system (we are), Strathmore High is a great one, but strictly zoned - so if you can get into that catchment, even better.

All the best
 
Saw a fantastic flat in a fantastic location in Nth Melb sell for 500k, fully renovated. Half a year ago a double-storey townhosue with its own little front yard and rear court yard sold for 610k in the same complex.
 
Hey Deltaberry

OP has 3 kids and I think is after a house with a backyard, flat type dwelling prob is a little too small for a family of 5.

Nice to know thou!
 
amazing venice well done on your purchase, sounds like you got a fantastic deal....do you mind telling us which street / area you bought and who you found to be helpful agents in the area?

we have been looking to buy a PPOR around the Pascoe Vale South / pascoe Vale area for 8 months now. Sadly, we were umming and ahhing too much in the beginning that we missed out on a few good bargains. Prices have jumped significantly in past 8 months, but we are still trying...however we are paying 6-650k for houses we could have got for 500k only 8 months ago!!!

It's true what they say....hindsight is 20/20 vision!!

And yes strathmore secondary zoning is an important factor to consider, I know people who have moved to PVS just for that reason.
 
Hey Mez!

Sure - I don't like giving exacts on the forum, but it's in the area between Westgate/Ohea/Eastgate/Anderson. We bought through Nelson Alexander in PV, John Caldo (spelling) was really lovely - BUT then had a run in with a member of their Essendon team (hung up on me!), so I can't 100% guarantee you'll have a good experience. But John was nice for what it's worth (although when you're about to drop 500k, I'm sure anyone will be nice to you...LOL).

Our place was a definate ugly duckling - but needed just as much work as any other run-down place that was going for 100k more. We could see the beauty within ;o)

What about something like this?
http://www.realestate.com.au/cgi-bin/rsearch?a=o&id=106278875&f=0&p=10&t=res&ty=&fmt=&header=&cc=&c=39516157&s=vic&tm=1266813499

It's such a gorgeous area...I love love love it... ;o)
 
That is a lovely spot where you brought, you must be really happy with your purchase - i actually went to an auction around there on Saturday that Nelson Alexander were selling, 1 Myers Street, sold for 680 (quoted 580-625). I think the agents name was Tom Keen or Breen?

I LOVE the area too! I actually grew up in Coburg West (near Melville Road) and am hesitant to move too further away. It is so well connected and I think still a great price / investment in terms of proximity to the city.

That house on coonans road is great, however we only have ONE requirement - must have a driveway with room to build a decent garage at the back. My partner has a boat, jetski, bike and other multiples that have caused me great grief as i need to find a place to put them!!! He also does mechanical work and would need some room at home.....if we could afford to knock down it would be a great option but unfortunatley not in that position just yet.

i will keep looking though....
 
Hey Mez

Ahhh... yes, I see your dilema!

Your hubby didn't just go to the Echuca races, did he?

so you need a side car port type scenario that could be turned into a driveway? then a longish block that could accomodate a 3 car-garage?

sorry for the hijack OP ;O)
 
Yes it is my dilemma!

Nope hubby was not at Echuca races....

We definitley dont expect to find a triple or four car garage where we are looking, but yes anything that can accomodate a triple car garage anywhere in the backyard, and a driveway that's at least average proportion i.e. not one of those really narrow ones where we'd struggle to squeeze a boat through!!!!

Unfortuantely these combinations can be far and few between!!!

And yes sorry to the OP for hijacking..hopefully we are at least giving you some deeper insight into Pascoe Vale South hopefully!!!
 
Amazing Venice, we're practically neighbours...lol.. I bought on Anderson last year,

Mez and others after sitting on my hands for 12 months and watching myself being priced out of East Coburg I bought in PVS on a 500 sq ish block for just under 600 (house was quoted 475-515, typical REA tricks in that area). At the auction I thought I had paid to much but was getting desperate to find a place.. anyway in the past 6 months looking around I have come to see that prices arent getting any cheaper in the area, anyone local see that other auction in Anderson St a couple weeks back, proof of whats happened over the past 6 months
 
Howdy neighbour! ;o)

You didn't pay too much at all - did you go to the auction at number 21 on your street? Went for over $650 didn't it? It was a cute house, but nothing to write home about. We'll see what the next 12 month hold, but it's not going to go backward, that's for sure. I think it will be pretty rare to get anything under $600 soon (might already be there!)

Peace out, fellow southern pascoe-valian.

AV
 
Well amazing venice and smule - I am offically now also a fellow neighbour!!!!
I am still reeling, it is too good to be true!!! We signed contracts last night for a house that hasnt even hit the market yet, we made a pre auction offer and honestly didn't think they'd take it, but they did!! I think even the RE agent was shocked!! It was an original family home where the owner is in a nursing home, and the kids were really keen to sell, so we offered their preffered settlement terms with no conditions, and they were happy to avoid the lengthy auction campaign and advertising costs.

It runs off Bell st, on the same side as you guys, but closer towards Meliville Road. 3 Bedroom red brick, on 580 sqm. Original condition so needs lots of work, but it's neat and not run down.....

The vendors should be signing the contracts at 10am today...so I am praying that all is ok!

Actually - even more off topic, can anyone tell me if there is any cooling off period once an unconditional contract is signed?? I am scared they can still back out...It just feels too good to be true!!!
 
MEZ!! THAT'S AWESOME! Well done!!!! Welcome to the neighbourhood!

So so happy for you....awesome result!

I don't think they can back out, but they may ask you to release the deposit - that's the only thing I can think of.... let us know when you get the contract!

Cheers
AV
 
Amazing Venice thankyou!!! I am absolutely ecstatic...and thanks Jonathan for the clarification...I just got told they've signed the contracts so wooo hooo!!! :) After 8 months of tireless searching (and a 100k price rise lol) we FINALLY have our own little piece of Pascoe Vale South :)
 
Top