Hi All
I'm not sure i can understand the negativity to the estates.
I can understand a lot of the arguments over the price of the land, but I'm not sure they are fair comparisons. I think people are making the comparison of cheap v supercheap. Like comparing a next to new 3 year old $10k Toyota v a brand new year $20k Honda. Either way compared to a $700,000 bloated and overpriced Lamborghini both suddenly become damn damn DAMN cheap.
Yes its very fair to say that paying 210k for sub 400m2 of land only out in the middle of nowhere is pretty terrible, especially when 5 years ago it significantly cheaper, and was/is still just a dirt patch. And yes when you put a house on it with decent options to 400k, that makes it seem even more unfair when you can buy "new-ish" or bigger homes for 100k less and more in other areas, yes there is poor infrastructure in the estates right now, and yes there is massive traffic issues right now. So why would you bother?
Well, 210 is NOT expensive when you compare it to other available land with its position and potential for growth. In fact its cheap for its proximity to the city IN COMPARISON. As an example, Compare a block @ Allura Estate --> 213k and 20km from the city,... as opposed to the south eastern Somerfield estate in Keysborough which is @minimum 280k land, smaller block, smaller house, and 30km out of the city. So then you think, well yeah but werribee and hoppers are better choices with an established property. Are they? If your a 2.3 child family looking for a large home, but as close to the city as possible, then estates like Allura, meadow springs, are on the map. They have large well designed plans, brand NEW customized homes, with infrastructure that down the track will be superior to those at places like Werribee and Hoppers, AND closer to the city by 5 and 10km respectively. Right now they might seem like a bad choice, but in years to come they will be worth significantly more, will NOT be in the middle of nowhere, and be a closed quiet and well styled family friendly estate thats close to the city. It might be a rip off compared to suburbs 10km further out, and past prices, but its a bargain in COMPARISON to a new home in any of the developed suburbs on the other side of the city.
Then there is the occupancy concerns people have raised. The differnce is minimal and there is a rise EVERYWHERE (housing prices down->more investors->more owners->less rentors->more rentals). its not just these estates with high rates, its everywhere, check you own suburb and you will be surprised.
but then this entire argument is the same as the car one at top... if you think $600 per m squared is expensive, how does a 17 sqaure metre apartment at 350k sound?=$7777 per square meter... or then again you could buy a 1.5m squared beach box for 45k? = $30,000 per square metre.. how does $600 per m squared sound now?... compare your werribee/truganina estate arguments in the west to a small block on beach rd brighton at 1.5 million plus.... still expensive?.
A 380-420k H&L package in Truganina isn't a bad option. Its not Good either. its not anything. Its just an alternative that some will follow. For some, its a rip off, for others its a bargain. It's a combination of personal circumstances, finances, preferences and requirements and viewpoints as to whats "best" for each of us.
Rememeber even the sprawling metropolis we are today started out as few huts on the side of a river no one wanted, and even places like Brighton were considered too far away from a town called Melbourne and its ports. My point is Truganina, Tarneit, and alls its estates will be major metropolitn areas at some stage, everything and everyone has to start somewhere.
