Please help....investing property around Hoppers Crossing

[mrsundeep]

Hello everyone,

This is my first post here. I am currently on the hunt for buying a house to live in. I have no knowledge in this field.

I am looking to buy a house around the Hoppers Crossing/Werribee/Tarneit area. My budget is under 300 K (House and Land) . Looking for a 2 BR. I will be staying/holding on to this house for 10 years and then will be moving overseas.

I am currently paying $1500 in rent and will need to pay a little more if I am buying a house within this range.

Could you please let me know, if this is a viable investment taking into account that I'll be selling this property around 10 years.

I had a look at the suburbs today. I found Hoppers crossing to be well settled and tarneit/truganina to be having so many new houses and currently far from the nearest railway station. I will be travelling to the city daily for work.

I am currently in living in Regent (Norther suburbs) and I love it here. I am also thinking of an option to buy a pre established property around Thomastown/Lalor/Epping area.

Please give me some suggestions in this regards.

Thanks all,
Sunny

 

[Peter_Tersteeg]

Avoid Tarneet. Valuations are often coming in below purchase in that area.

 

[mrsundeep]

Yup

Yup, I am more interested in Hoppers Crossing. MY buget limits me from getting a good house in Laverton.

 

[Africandaisy]

I lived in Pt Cook for many years and now live in Werribee.

The biggest problem with the whole Wyndham area is transport if you work in the city. The roads are clogged in peak hour, so you really need to go by train but it is difficult to park near the train stations. So my strong advice is to buy a house that is within walking distance of the Hoppers train station.

In 10 years time, the houses in Hoppers (built in the 1970s) will be nearly 50 years old and getting ripe for redevelopment, so I reckon buying a house on a bigger block or a corner block might be a good idea.

 

[BFT]

I have a house in Werribbe on which I'm currently doing a mini-reno, and will be putting it on the market in the next two weeks, looking at high $200k's.

It is in a sought after area in Werribee and close to town centre, 3 bedroom one bathroom and carport on about 600sqm.

 

[octain]

I know people are saying avoid tarneit. this is understandable getting good tenants can be hard. it was one of those areas those property investment companies bombarded. This has caused a rental glut.

However there is a few good projects happening that make it a good prospect now. The regional rail link will put a train station in tarneit which will make it quicker to go to the city then via hoppers crossing. This I believe will bring alot of good buyers to the area.

Recently a hotel had opened another servo, pizza hut, hQ, New school, Community health facility is being built. ALso a woolworths in tarneit gardens. WHich is making it a more attractive place to live.

I like the reserve atm as it is very close walking distance to the new train station. with a 4 year time frame its a good time to get in while prices are still reasonabibly low as year from the project being finished i would expect the boat will have sailed.

Have a look at what a train station did for williams landing. Infustructure in the west carriers high value

 

[Pixie]

Reliving the thread

just reliving the thread to get your input / updates on Hoppers.

how is the rental world in HC??? i went thru several old threads which had some old real estate ads and it appears prices hadnt quite change (min change) over the last 5 years.. seems to me the growth is very very low

i m quite tempted to get an IP either in sunshine (too late because prices had already boomed!) or in Albion (stretching further) or in HC...

Main reason for investing in these burbs is because of Regional Rail Link upgrades (ie Sunshine Station and Watergarden line upgrades and less train traffic jams along Geelong Rail corridor)

Please have a say...