Sunshine (Victoria) for a first home/IP

[WJW]

Hi Guys

I'd appreciate any advice on Sunshine for a first home/investment property.

My partner and I have saved around $90k. We're looking for a 2 or 3 bedroom house relatively close to the city, for around the $500k mark (which prices us out of Footscray, West Footscray etc).

A few people have advised us to consider Sunshine, as it is 12km from the city and likely to be a good long-term investment.

As we are still quite young, we would probably live in it for a year to get the first home buyers grant and then rent it out (and rent an apartment closer to the city).

Does anyone have advice or suggestions, including other areas we should consider?

Many thanks.

 

[schweedy]

Was in sunshine this morning and they seem to be doing a lot in that area, and it is so close to the city.
I'd also look along the deerpark bypass, as somewhere close to that has yourself and tenants in the city before they hit a set of lights. A bit further out in km's wise, but a different sort of area again.

 

[Kennyjaiz]

Hi Guys

I'd appreciate any advice on Sunshine for a first home/investment property.

My partner and I have saved around $90k. We're looking for a 2 or 3 bedroom house relatively close to the city, for around the $500k mark (which prices us out of Footscray, West Footscray etc).

A few people have advised us to consider Sunshine, as it is 12km from the city and likely to be a good long-term investment.

As we are still quite young, we would probably live in it for a year to get the first home buyers grant and then rent it out (and rent an apartment closer to the city).

Does anyone have advice or suggestions, including other areas we should consider?

Many thanks.

I have an investment property in Sunshine North. Sunshine has shown some incredible growth in the last couple of years. It's close to the city and heaps of infrastructure project going on the West. I suspect there will be steady growth in Sunshine/Sunshine North/Braybrook area for the foreseeable future.

Considering your budget, Albion /Sunshine /Sunshine North /Braybrook /Maidstone is a good growth option. Braybrook and Maidstone is closer to the city, but no train.

However as a first home, you will need to consider the neighbourhood and the level of crime rate. Some may consider it to be less than desirable. You will need to drive around and see for yourself, if you are okay with it, even if it's 6 months.

Best of luck

 

[Deltaberry]

Hi Guys

I'd appreciate any advice on Sunshine for a first home/investment property.

My partner and I have saved around $90k. We're looking for a 2 or 3 bedroom house relatively close to the city, for around the $500k mark (which prices us out of Footscray, West Footscray etc).

A few people have advised us to consider Sunshine, as it is 12km from the city and likely to be a good long-term investment.

As we are still quite young, we would probably live in it for a year to get the first home buyers grant and then rent it out (and rent an apartment closer to the city).

Does anyone have advice or suggestions, including other areas we should consider?

Many thanks.

A 2-bedder you can get in Footscray West for just 500k if you're lucky. If you can go up to 550k that helps a lot.

http://www.domain.com.au/Property/For-Sale/House/VIC/West-Footscray/?adid=2008340824

 

[WJW]

Thanks for the advice guys. Seriously considering Sunshine as, although it's not probably a great place to live right now, prices are likely to rise and it could become a good area in time to come.

Going to take a trip out to Sunshine this weekend!

 

[Deltaberry]

Prices will rise over time, just a matter of who rises more in a particular timeframe.

 

[onthemove]

maybe also look in altona meadows. for $500k you can get something very nice. zone 1 train, near beach and open areas. it is on the move.....

just a thought.

 

[sutnorinvest]

Sunshine is a great area to invest. We moved here 4 yrs ago because we couldn't afford to buy in west footscray/kingsville and we've just sold last month. Paid $298 in May 06 and sold for $481k in April '10. There is some really great pockets of
Sunshine, the "Matthews Hill" area being the best, but good luck getting something there less than $500k. Personally I think go that bit further to Albion, it's cheaper, has a zone 1 station, close to Sunshine shopping precinct and is still mainly made up of older weatherboard homes ...and decent block sizes.
4yrs ago when we were looking to buy, I was anti Sunshine (until I seen our house!) but I have to say we have never had a problem and I have always felt safe and we have wonderful neighbours and it's so easy to get to the city via PT or only a 15 min drive. I would recommend for a good IP with good CG in the future.

 

[leicachamp]

Good area for investment property, but i personally would not live there!!

If yo have to buy in /sunshine, then go for the Albion area. Nice tree lined streets.

 

[WJW]

Thanks for all the feedback guys. Will definitely look at Albion.

 

[sutnorinvest]

We have just received an email today confirming the metrowest development is going ahead and construction will start soon, this will be a huge plus for the area. www.metrowest.net.au