I've only lived in the East and really like it but I just cannot afford to take out the kind of mortgage needed to buy so I'm starting to look in other suburbs.
I'm kind of all over the map from Mentone to Tarneit and am not all that familiar with anything outside of CBD and the East. Any other thoughts, advice, opinions, etc? Although I'm looking for affordable it's more about the value rather than the cost.
Good Value Suburbs of Melbourne
ozbargainer888 on 14/09/2015 - 21:34
Comments
Firstly you need to define what you mean by good value. Value is different to everybody.
Do you value a shorter commute to work, good public transportation links, schools etc.what $$$ ?
Thanks. I'll try to clarify. The budget I am looking for is in the approx $250-300k range and "good value" to me would include (in priority order) safety, shorter proximity to work (Collins St, CBD) and good transportation links, access to shops/restaurants, positive future investment income potential. I am married, in my early 30s and plan to start a family soon so a decent amount of space would be ideal; 2 or 3 bedrooms and 2 bathrooms would be preferable. I suppose my question is more focused on which affordable (within budget) suburbs are still regarded as safe but relatively close to the CBD. My research thus far has led me to think that some of the western suburbs represent value in terms of lower cost and commute. Although, since I'm not familiar with the west, I'm not sure about other value factors or which suburbs are projected to be good value in the future. For example, I'm looking into a large planned residential community in Tarneit called Riverdale Village that seems pretty good. Any advice is greatly appreciated.
you're asking for a lot in the range of $250-300k.
Tarneit is far from any decent transportation and is a long commute. as for safety pretty safe as it is new…If I were you I would look at suburbs around Derrimut & Deer Park - closer to the CBD than Tarneit however still a stretch at $250-300k.
I think you'd be hard pushed to find anything $250-300k unless you look at western suburbs sunshine braybrook or north to meadow heights and surrounds.
what about craigieburn?
Craigieburn has a got a lot more attractive with the inclusion of it on the Broadmeadows line a few years ago.
Still a fair whack to get to the CBD in terms of driving.Yup, but train and public transport is abit more reliable compared to the southern and western counterparts.
Dear ozbargainer888, I am sorry to crush your hopes. $250-300k will definitely not get you anything within reach of Melb CBD. At least 45mins-1hr commuting is the minimum you would expect with your price range. Having said that, it is still pretty impossible unless you are willing to live in apartments/small units which you will have to deal with limited space issue, body corporate, privacy issues, etc.
I personally have not lived in western/northern suburbs of VIC, has always been living in SE suburbs hence unable to advise those suburbs. I can suggest you to look at places like Berwick, Narre Warren, Lynbrook, Cranbourne, Langwarrin based on your budget but safety and distance to CBD will be of concern.
Hope this helps.
Realistically, you cannot buy a house in a nice suburb for your budget (or an apartment). I would suggest saving up more money and waiting. You also need to take into account that the public transport links in the West are terrible, and the morning commute along the Westgate can now take up to 2 hours (with a queue all the way back to Point Cook every morning). The suburbs you have mentioned (not great suburbs in terms of safety, transport, commute etc) will also likely yield low capital gains (if any), seeing as we are in a boom, and they are well and truly the subprime mortgage belt.
Thanks so much for your input everyone. I suspected that it might have been wishful thinking to find heaps of options that are ideal for work, starting a family and within an acceptable budget. I'm currently renting in Ringwood and have really grown to like the area but house prices are still out of reach and even though more affordable apartment units are being built at a rapid pace, I'm concerned about the issues that ykwon10 mentioned like limited space, privacy, etc. I appreciate the suggestions and will look further into some of the suburbs mentioned and will also look to increasing the budget. Thanks again.
Hi, www.realestate.com.au
You can type the suburb name, even specify no of rooms/car spaces you want and it will give you today's approximate value of the homes. This site is useful for property investors or wanna be home buyers. Will also list the houses currently for sale so you have an idea how much they cost in that suburb.