Where to Buy A House, Home or Property in Melbourne?
At Buyers Home Base, we think that when you're considering where to buy a house, home or property in Melbourne,
once you have established realistic goals, you should be able to select an area where you can live. To help identify your
realistic areas, begin by asking yourself:
- How much can you afford to spend on your house, home or property purchase?
- How many years do you intend to live in the property or home?
- If you had to choose between the ideal house or home or the ideal location – which would it be?
Question three [above] helps you consider important options – is it the location or the actual type of property that is of more
value to you. This means, if the location you would prefer to live in is at the upper end of your budget, you may need to sacrifice
building or property quality and/or size when determining where to purchase property in Melbourne.
If the quality and size of the property is important, you may have to sacrifice location. Once you’ve established these criteria,
you can begin to focus on key locations. However, there are further factors to consider including accessibility of nearby schools,
transport plus families and friends. These will all impact on your decisions as to where in Melbourne you may want to live and
also you’re lifestyle now and in the future.
Experience shows that the clearer you are on where you want to purchase, the better your purchase decision.
We’ve helped potential property buyers – just like you – establish clear ojectives regarding the property locations that
enhance their lifestyle.
What suburbs are booming?
Melbourne’s property market might be showing signs of slowing, but that doesn’t mean there aren’t any potential real estate or property hotspots in Victoria.
According to the Herald Sun (Suburbs in Melbourne’s north, west tipped by real estate experts to take off in 2017),
those people planning on taking the property plunge in 2017 should go west or north, with St. Albans, Fawkner and Lalor among the suburbs set to prosper.
This is the advice some of the city’s real estate experts, who also say Melbourne’s middle ring is the best bet for homebuyers as it offers affordable buying, improving infrastructure and solid growth prospects in relation to house prices.
Melbourne’s bayside suburbs are also considered a good bet for long-term capital growth, along with the suburbs in the south of Melbourne running from bayside suburbs like Brighton to Frankston. These areas have good infrastructure in place and are close to beaches, making them very popular suburbs for home purchasers.
Some other property experts and real estate agents recommend buying into the middle and outer suburbs of Melbourne. These include Ringwood, Croydon, Wantirna, and Boronia in the east of Melbourne, and Deer Park, St Albans, and Sunshine in the city’s west.
The most popular suburbs from an investor’s or property investment perspective have been Hawthorn East Hawthorn, Canterbury, Camberwell and Kew.
A key factor driving house prices and this demand is that people want to live in the private school belt near the sought after primary and secondary
schools in these suburbs. A classic example is McKinnon, where house prices are up to 30% higher than neighbouring suburbs simply because of the
proximity to McKinnon Secondary College.
Some other property experts suggest that investors chasing rental returns should be looking outside Melbourne. Melbourne’s west is also considered an ideal region for investors. The inner west is rich with infrastructure and the outer west has many ongoing property development projects.
Investors should focus on an area’s schools, shops and plans – the things that make properties more attractive to potential purchasers when you are selling an investment property. And, as always, the secret to a good investment property purchase is location, location, location! Also, make sure you check what services and facilities are available, such as phone coverage.
Confused? We can help you.
If the above is all too daunting and you are just confused by all the experts advice and suggestions, then remember, we can help when
you're buying a
home and you need help determining where to buy a house or property in Melbourne! And do remember, we specialise in helping first
home buyers and also charge a FLAT FEE for our services no matter whether you are an investor or just starting out and purchasing your first home.
Speak to us – it’s FREE and there’s no obligation.
Simply request your FREE Consultation today!