What's wrong with Heidelberg in Melbourne?

[coolstyle]

Hi Guys,

My first property investment property purchase has so far led me to Heidelberg as a possible choice. I'm also considering Fairfield as an option, but it's not as large a suburb.

I think it's interesting to note: I'm a little clueless regarding Northern suburbs, having lived in the lovely Beaumaris for the past 10 years, but I'm young enough not to have any negative thoughts re: Heidelberg. To me it is close to the city and I'm currently looking at a large 600+ sqr mtr block with old house for sub 300k there... where else can you get that value within 10ish km's of the city? (please do tell me)

I must admit I have not done any driving around Heidelberg itself ... so am unable to comment on the feeling the suburb has ... that is, is it really a slum?

Will be driving around a little tonight so stay tuned
Early days yet, but i see Heidelberg as reasonably attractive for the l/t investor...
I base my "value" statement on 1) Proximity to the city, and 2) land size of particular house&land I'm looking at.

Cheers,
CoolSyle

 

[sbe]

I grew up in the Northern Suburbs.

Heidelberg Proper - Nothing wrong with it.
Heidelberg West - Used to be very rough, housing commissions (ex Olympic village). Getting better but buy carefully.
Beidelberg Heights - Sort of between the two, physically and logically.
Closer to Ivanhoe side = better.

Check to make sure it's an original block, not subdivided since. Subdivided blocks lose a lot of their value.

 

[always_learning]

Heidelburg is not a slum.

Gosh Beumauris to Heidleburg, its not OS!
Get in the car and take a drive, visit the RE offices drive around take a look!

When I lived in Heidelburg and drove pizza deliveries around, you will soon see a big difference in just a few KM. West Heidelburg is well full of "Westees" who loved spending there centerlink money (dole) on Dial-A-Dino's pizza's. West Heidelburg and Heidelburg had a very different feeling about it.
Just a 2 KM away and you have Eaglemont, very nice place, full of doctors houses etc.

BTW I got more tips from the West Heidelburg dole bluggers and single moms than I every got with the Eaglemont set!

 

[coolstyle]

hehe .. good perspectave (thx guys)

How's Tokyo these days 'always_learning'... nice and warm

I'll be cruising around Heidelberg tonight and checking the place out ... very interesting points ... fine line b/w being so close to both ends of the spectrum (market value of properties that is).

Thanks for the advice! ... I noticed the map has a hospital & a Tafe college close by to the property I was looking at that seemed attractive .. also a few more blocks around with one being 700 sqr mtrs!

Cheers,
CoolStyle