[Melbourne] Thoughts on apartment as first home/investment?
- Thread starter 7smurfs
- Start date
Mainly looking for investment and a lifestyle change bonus for 6 months while I live in it.
I'm sticking to the theory that if I want to live in it then it would be attractive for renters as well
There hasn't been good feedback about docklands apartments. I am moreso looking towards Richmond, Hawthorn, South Yarra, South Melbourne areas.
south melbournne - depends which areas you are looking at. they are not that many for sale and it is much quieter.
why do you have to live in it? I live in southbank my landlord picks up the tab for the owners corp to pay for the pool, concierge, etc... then with the money we save renting versus owning this place we invest in other areas we like but certainly don't want to live in.
My preference to live in it is due to the benefits I get from the first home owners grant. Without it, it would be purely IP
southbank out of the way? cmon no way. Southbanks location is its main drawcard.
In my opinion, I find the location quite derivative. If you are going to live in the CBD, you will live in the CBD. Not in an area with nothing to show for it except for Crown Casino...
Nothing to show for it eh? Southbank is home to , in addition to crown, fosters, herald sun, IBM australia, PWC australia, ABC, incitec Pivot, Alumina AU, fujitsu AU, etc ...as well as many more other domestic and international company offices.
Southbank also is a center of arts and related industires in melbourne- its home to various performing arts groups, colleges, and museums.
Check out the description on wikipedia
http://en.wikipedia.org/wiki/Southbank,_Victoria.
I think they give a good description.
There is more to a CBD than just offices. People live in places because of the lifestyle, which includes access to food and entertainment, as well as proximity to work.
This is my opinion, but if you want to live in the CBD, why would you live in a place which is not the CBD? It is this thought process which drives demand, and that is why I don't like Southbank (or Docklands).
This is my opinion, but if you want to live in the CBD, why would you live in a place which is not the CBD? It is this thought process which drives demand, and that is why I don't like Southbank (or Docklands).
This has not been my experience. Strata fees generally kill yields stone dead. I'd be happy to be shown otherwise though.
Go Port Melbourne, bay view.
i didnt actually comment on lifestyle of southbank, i have lived here maybe 18 months now.
My girlfriend walks to work when she is in her base office in the CBD, we walk to south melb market or clarendon st shops for food and unless we are feeling very lazy (or drunk) to and from bars when we go out. Flinders street station is < 10 minutes walk.
Being tucked to the corner of hte CBD means we get a bit more street parking (not brilliant but heaps better than CBD) and we are on kavanagh street so at one end of the street is the enterance to tunnel and SE burbs the other is to the westgate/bolte. With the exception of the peak of peak hour its easy to get around and having a motorbike gets past that issue anyway.
I have never lived in the CBD but have really enjoyed my time in southbank, i feel the lack of views, extreme lack of spare parking, 15+ minute travel time to get the car out would be more annoying to me than the 5-10 minutes extra walk.
Saying that overall i think we prefered richmond to live in ...
My girlfriend walks to work when she is in her base office in the CBD, we walk to south melb market or clarendon st shops for food and unless we are feeling very lazy (or drunk) to and from bars when we go out. Flinders street station is < 10 minutes walk.
Being tucked to the corner of hte CBD means we get a bit more street parking (not brilliant but heaps better than CBD) and we are on kavanagh street so at one end of the street is the enterance to tunnel and SE burbs the other is to the westgate/bolte. With the exception of the peak of peak hour its easy to get around and having a motorbike gets past that issue anyway.
I have never lived in the CBD but have really enjoyed my time in southbank, i feel the lack of views, extreme lack of spare parking, 15+ minute travel time to get the car out would be more annoying to me than the 5-10 minutes extra walk.
Saying that overall i think we prefered richmond to live in ...
Thanks for the replies/suggestions
I've set my sights on a 2BR apartment in South Yarra fetching approximately $550k
Will let you all know how it goes
Care to share rough positioning? Like street name.
I don't like most parts of South Bank. But there is one spot that's really nice and that's on St Kilda Rd across from the Tan.
That's probably the only spot I'd consider an apartment to live in. Next would be Port Melbourne penthouse with bay views, but that would be a far distant second and I'd take a decent house in a good area over that in most cases.
That's probably the only spot I'd consider an apartment to live in. Next would be Port Melbourne penthouse with bay views, but that would be a far distant second and I'd take a decent house in a good area over that in most cases.
As would I. I do live in the CBD right now and while it's good sometimes you want more peace and quiet.
Hmm sounds like a new development to me… be careful
Right now in Melbourne there is nothing 'exclusive' about selling apartments. They will sell to the beggar on Bourke Street as long as he had the money for the deposit.
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Hmm it is a new development. Will look be cautious with the discussions that are to go on about it, not in a rush to go into anything.
Still looking for grounds to purchase an apartment over a unit/house....
