Melbourne - Outer East

Great forum, heaps of great information out there!

Currently looking at outer eastern suburbs, such as Mooroolbark, Bayswater, Upwey, Boronia etc- suburbs along the train lines, or even The Basin. Looking to spend up to mid 400's for a family home type property.

Strategy is long term hold, I'm in my early 30's with some equity in my PPOR.

What are your thoughts on these areas?
 
I lived in Boronia for a year and getting of the train each night after work was a toss of the coin. Heads you got a bunch of 16 year olds drinking, yelling profanities at the top of there lungs, tails you got the same but 14.

Oh and it was quite interesting the day I took my dog to the park and right in front of me a junky sat in the swing and shot up.

Oh and my wife's car got stolen and taken for a joy ride which was great as well.
 
Where did you move to?

I moved to my PPOR in Niddrie but the prices are quite different.
Apart from my experiences I do actually believe the suburbs you mentioned have a lot of upside as well. I know that's quite contradictive but when I wasn't seeing junkies shooting up I enjoyed a number of good restaurants (ecspecially Asian) Knox shopping, Yarra valley only a short drive.
 
Hi

Hello,

Since you are looking at buying the property as a investment, you have to look at the property not just from one angle but many other angles.

Bayswater is a growing area and renting out the property shouldn't be a issue at all. There are allot of companies in the area!!!.

Mooroolbark is a area I like and it seems to be a bit popular at the moment, good sized homes on larger blocks.

There are two key things to look out in this area:
1) Invest in a good place not a cheap place - Cheap place will attract cheap tenants.

2) You will be competing against first home buyers, so don't get caught up in emotion, when buying a place. If the numbers don't add up simply don't go for it :)
 
Thanks guys

Boronia is my least favourite from the bunch based on its dodgy reputation.

I know what you mean, Johann, I was quite surprised at the number of people at some open for inspections in The Basin in particular. I imagine with the recent rate drop, things might heat up some more for first home buyers.
 
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