Suburbs to consider in Melbourne fr first home buyers

Ak#1 Posted : Saturday, 2 February 2013 4:21:41 PM
Hi all

We been planning to buy our first property in melbourne with a budget of 300 - 350 k (2 bedroom house )...but we been going in all direction on understanding which suburb to be finalised...we want suburb which will have good returns over next 4 yrs.. Closer to public transport...hope you all will help us with your suggestions

Cheers

  • Eos Property#2 Posted : Sunday, 3 February 2013 11:42:09 AM

    Investment or own home?

    When buying your first property many people look for the perfect property and over-analyse things. There is no such thing as the perfect property so sit down and work out what your property 'must haves' are and then the desirables and work from there.

    At the very least this will give you a good starting point.

  • Ak#3 Posted : Tuesday, 5 February 2013 10:05:10 AM

    Thanks fr suggestion...we are planning for own house and budget being limited we were considering suburbs such as Epping point cook trugnina which has great packages...however not sure on potential transport development from government...also must have factor is closer proximity to public transport

  • Eos Property#4 Posted : Tuesday, 5 February 2013 2:08:43 PM

    Budget will always be one of the over-riding considerations. The challenge is to spend wisely within your limit so you get bang for your buck.

    The suburbs you have selected, while affordable, were mass marketed to investors by marketing groups some years ago. As a consequence there are a number of landlord/tenant properties in those suburbs. Typically, and as a rule of thumb, it is homeowners who drive the property market - they are the ones who paint the front fence, mow the lawns, keep maintenance up to date, etc.

    If you can try for something a little closer to Melb and within easy access to facilities.

    THe Melbourne 2030 Plan may provide you with some guidance.

    http://www.dpcd.vic.gov.au/planning/plansandpolicies/planningformelbourne/planninghistory/melbourne2030

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