With $250,000,where should I buy in Melbourne ?

[Sabitor_84]

Absolutely, however before I can share that information, you'll need to graduate from my platinum " Property Top Guns Exposed" homestudy.....for a handsome fee of course

Where do i sign up?? I assume cash payments are suffice hehehehehe

 

[sash]

Melton is cheap.....people I thought I was crazy when I bought there in June 2007 for 155k (3 brm house).

It is now worth 190-200k....I am sure someone will say that is not much of a gain.

The trick in Melton ....is to buy the older homes close to infrastructure!

cheers
sash

i bought a 1 bedroom unit in newport in january of 2009 for 190k. that was my entry point.

can get it revalued 6 months later now for 215k.

i have done nothing. But when i bought the owners were desperate to sell due to a margin call on shares, and i was offering a very short settlement with a larger deposit, to cover there short fall.

best of luck.

melton looks cheap... dont know enough about it though.

 

[toony]

With 250K to spend, Frankston/Frankston North and Melton are (to me) the best options. I'll be buying in one of those areas with a preference at the moment for Frankston.

You can easily buy a 3 bedroom property on a decent sized block in Melton and Frankston North for 250k or less and with a little more trouble in Frankston.

There is so much infrastructure developments and gvt spending in both areas (read the threads here) that CG and rental demand/yields are likely to be very good.

I agree with looking for something in South Frankston. With $250k you could buy a nice 2 bed unit walking distance to the Frankston cbd and new proposed harbour. Somewhere around Kar St.

 

[mystery]

Melton is cheap.....people I thought I was crazy when I bought there in June 2007 for 155k (3 brm house).

It is now worth 190-200k....I am sure someone will say that is not much of a gain.

The trick in Melton ....is to buy the older homes close to infrastructure!

cheers
sash

Yep, .... I'd agree with that Sash. We started buying in Melton Jan 06, .... very happy with the growth..... nothing dramatic, slow and steady. Both of our IP's are within 400 meters of High St, shops.

I think many people still think were crazy buying in Melton Sash .....

Martin

 

[sash]

Mystery.....back on the old days they called some of the pioneers crazy!...

He...he.....I too think Melton has a long ways to go! I also know my Werribee and Hoppers Crossing properties are also increasing!

I am at the Bribane Qantas lounge ......have just sorted a reno. Will post the pre-reno pics shortly!

Yep, .... I'd agree with that Sash. We started buying in Melton Jan 06, .... very happy with the growth..... nothing dramatic, slow and steady. Both of our IP's are within 400 meters of High St, shops.

I think many people still think were crazy buying in Melton Sash .....

Martin