Point Cook, Melbourne
- Thread starter thyechen
- Start date
I remember being told these areas never perform only 3 years ago on this forum......experience told me to stop listening to the great "unwashed"!!
Sad to see panic on the first home buyer front...like lambs to the slaughter. Some of the gains will be unwound...but not all!!
I am sitting on my hands till the dust settles....
Sad to see panic on the first home buyer front...like lambs to the slaughter. Some of the gains will be unwound...but not all!!
I am sitting on my hands till the dust settles....
me too, a bit of cash in the bank for emergencies, i believe in 6 or 9 months time, things will be alot different with 8-10% unemployment, the bumper first home buys grant only has another 70 days or so left, is it going to be continue after this? - i doubt it!
I just purchased a house and land in Point Cook.
I am a first home buyer and bought in Alamanda estate for $290k. I am quite happy with my purchase, and was able to build with a mid range company with a good rep. I like the area, and purposely bought right on the edge of the estate near wetlands and a secured green wedge. I was waiting in anticipation for the gov plan, which has just been released, to confirm that my block will always will (well for a while atleast) be near parkland, open space, the beach and the marina.
I am estactic that the FHBG ($32k) plus my savings = no mortgage insurance and repayments less than rentals in the area.
I think that I have done well for a first home buyer, who wishes to live in the house. I also purchased a smallish home so it will be easy to rent out being slightly more affordable for the rental market. I do not want to renovate, I find it easier just to go and do some overtime at work and earn that way. I have no time.
I am hoping that the area will at best stagnate when the grant ceases. The land is running out according to the new zoning maps, and the area now getting too expensive for first home buyers anyway.
All in all, I am happy. I will at the least enjoy living there.
Any opinions on my buy? I do intend on buying IP's in the future, and I thought that this way I already have a fair amount of equity in my property and will avoid hefty interest by having a small loan allowing me to repay extra in the early years.
I am a first home buyer and bought in Alamanda estate for $290k. I am quite happy with my purchase, and was able to build with a mid range company with a good rep. I like the area, and purposely bought right on the edge of the estate near wetlands and a secured green wedge. I was waiting in anticipation for the gov plan, which has just been released, to confirm that my block will always will (well for a while atleast) be near parkland, open space, the beach and the marina.
I am estactic that the FHBG ($32k) plus my savings = no mortgage insurance and repayments less than rentals in the area.
I think that I have done well for a first home buyer, who wishes to live in the house. I also purchased a smallish home so it will be easy to rent out being slightly more affordable for the rental market. I do not want to renovate, I find it easier just to go and do some overtime at work and earn that way. I have no time.
I am hoping that the area will at best stagnate when the grant ceases. The land is running out according to the new zoning maps, and the area now getting too expensive for first home buyers anyway.
All in all, I am happy. I will at the least enjoy living there.
Any opinions on my buy? I do intend on buying IP's in the future, and I thought that this way I already have a fair amount of equity in my property and will avoid hefty interest by having a small loan allowing me to repay extra in the early years.
Hi Allison,
I thot $290 for a land inc house is very cheap. How big is the land size ? Have the costs include site costs etc.
Point Cook in my opinion is a good area, with the William Landing station to be build soon, it will only get better.You may be aware that the new selective entry school wil be build in Werribbee,called Cory High Schoo.
I thot $290 for a land inc house is very cheap. How big is the land size ? Have the costs include site costs etc.
Point Cook in my opinion is a good area, with the William Landing station to be build soon, it will only get better.You may be aware that the new selective entry school wil be build in Werribbee,called Cory High Schoo.
Fixed site costs, and made sure there are no issues there.
Land size is 320m2, so not very big at all.
Land size is 320m2, so not very big at all.
Alamanda is a good estate IMO Alison. I live/own a house in Sanctuary Lakes & have been considering an IP in Alamanda estate over recent months.
very sorry to bring up an old thread,
however, an opportunity has come up potentially to work in Point cook,
it 'll be a 7 day per week job, so hence I will need to move there or move close by.
I visited it for the first time recently,
The houses were all nice, and yes there were lots of houses and and an endless supply of land
prices started at about $350k I believe up to a max of say abouts $650k
Having very little experience in this area, is this area just another Caroline Springs type of new estate.
I must admit, I do not like the Caroline Springs type of setup, being miles out from no where, (just me personally) and having an abundance of land in every direction, and being sealed off sort of. I have read many of the threads on this forum about Caroline Springs cons, eg no capital growth, poor finishes etc. etc. etc.
from the ads Ive seen about point cook (that is the REA, they basically try and sell the same way as Caroline springs) I feel that it is the same but the only difference being that its only 20kms away from the city....
can anybody shed some light on it please? is this just another Caroline springs type of setup or is it something completely different!
I hope I am making sense?
however, an opportunity has come up potentially to work in Point cook,
it 'll be a 7 day per week job, so hence I will need to move there or move close by.
I visited it for the first time recently,
The houses were all nice, and yes there were lots of houses and and an endless supply of land
prices started at about $350k I believe up to a max of say abouts $650k
Having very little experience in this area, is this area just another Caroline Springs type of new estate.
I must admit, I do not like the Caroline Springs type of setup, being miles out from no where, (just me personally) and having an abundance of land in every direction, and being sealed off sort of. I have read many of the threads on this forum about Caroline Springs cons, eg no capital growth, poor finishes etc. etc. etc.
from the ads Ive seen about point cook (that is the REA, they basically try and sell the same way as Caroline springs) I feel that it is the same but the only difference being that its only 20kms away from the city....
can anybody shed some light on it please? is this just another Caroline springs type of setup or is it something completely different!
I hope I am making sense?
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pretty much, PC 20kms or CS 22kms
Really! I wasn;t aware of that? I thought CS was 35-40kms away.
so in all seriousness, whats the difference between the two?
and I know of the thread that basically says that for Caroline spirngs, as an investment property, there are better alternatives, is this the same thing for Point cook
Point cook has an untouched coastal park that is great if you like that sort of thing, the new Point Cook town centre is coming along well, and there is the williams landing development...which i think has higher land prices that may help drag up point cook also.....the marina in werribe south will be a drawcard for the whole area.
As far as investment, used to live there back in 2003-2005 kept the house as a rental originally got $330 per week now getting $400, house and land cost $350k...prob worth $460-$480k today, so not spectacular growth...but i have the boring old "very long term view" never sell lazy approach.
Liked living there and have had fantastic tenants always (touch wood)
Hope this helps
Yes it is that near ..
.. and even faster to get to the city now with the new Deer Park Bypass ... I am living in CS so a bit bias but capital growth has been very good ... more than double the value in 7 years so it is consistent with the target mentioned in many IP books ... in fact, it was just listed last week in the papers as having one of the best growth in recent periods !
Whoever said capital growth is a problem prob doesn't have all the facts ... my neighbour built his house (incl land) for $160K and just sold it off last month for about $360K so there you go !
Hi,
Point Cook is closed to the beach, have a bigger town centre,and will have train station ( in Williams Landing ) soon, compare to Caroline Springs.
Point Cook is closed to the beach, have a bigger town centre,and will have train station ( in Williams Landing ) soon, compare to Caroline Springs.
Oh I think Caroline Springs is getting one of those too
http://melton-leader.whereilive.com.au/news/story/new-station-for-caroline-springs/
http://www4.transport.vic.gov.au/vtp/projects/carolinesprings.html
The difference is that electric suburban trains will serve the Williams Landing/Point Cook Station whereas only diesel country trains (which are less frequent) will pass Caroline Springs/Ravenhall.
Also note that both proposed stations are a fair way from most existing residential development in the area.
Mate I reckon this will be the first place to see some serious blood when unemployment in western suburbs shoot through the roof and Rudd's government guarantee stops running.
Not to mention you pay a premium for a new house that depreciates like crazy due to poor quality.
In a nutshell, Lure of New Homes and Affordability.
