m4t_lee

Hi all,

Been speaking to a chap at work today from Melbourne and he's recomended a few suburbs which would be nice, safe and quiet but within an hour of the cbd. He suggested looking at

Caulfield
Ashburton
Burwood
Camberwell
Surrey Hills
Blackburn
Box Hill
Balwyn
Doncaster
Bulleen

And a few others, now i don't expect to be able to sell my house here and get a 6 bed mansion with a pool and helecoptor pad but we'd like to reduce the mortgage here if poss and were looking to spend around $500k on a nice 3-4 bed with a garage.

Looking at domain.com.au and the prices in the suburbs above are much much higher than we'd first thought mostly starting at around 600-700 upwards. Are these burbs really posh and upmarket like Chelsea, Kensington types or are prices really going mad over there?

Any opinions would be great

Mat

Techno Freak

We're renting a nice 3 bed in Balwyn, not huge - but liveable. I would say based on what houses near by have sold for that it would be worth around 700 - 800k.

Balwyn is within 30 minutes of the city though.

If you go to the outer suburbs, like Narre Warren & Berwick, 500k will get you a superb house and about an hour from CBD.

We have bought land in Berwick and we're building a substantial, modern house for around $500k. It's way bigger and more different than we could get in the inner suburbs and we'll just have to wear the extra commute. The outer suburbs are nice, clean and modern but dont have much in the way of character. The inner suburbs usually have lots of strips of shops with cafes, resteraunts etc and good tram & train links. That's what you're paying for I suppose.

Horses for courses. We'd rather a big, quiet house a bit further out than a small expensive house further in.

m4t_lee

Hiya, thanks for the reply.

Is Balwym 30 mins drive in rush hour or 30 mins door to door with public transport?

Could i ask roughly what the rental is in the type of property you have in Balwyn if it's not too rude a question?

We were set on Berwick too, the houses look awesome and the prices spot on but i didn't want the commute if i were to get a job in the cbd, it looks like at least 60-90 mins each way (just a guess as i've never been) compared to my 11 minute drive i have at the moment and the wifes 5 minute drive.

Just concerned that one of the biggest reasons we're doing all this ie to save a bit on the mortgage and still have a nice house could have buggered off down the pan (

Regards,

Mat

futureaussie

Where i Berwick? I am buying a 2 year old house in The Chase and move in 14th March after flying out 1st March on CPV

dolphanfootball

Hi Mat,

I use to rent in Camberwell, renting and buying has jumped dramaticly in this area, surrounded by private schools, big population of Aussie familys, thats why the price has gone up and up and up. You should be okay in Blackburn, 3-4 bedroom around 450,000 even chadstone and burwood, where as 2 bed single story in camberwell and surry hills will cost near to 600,000. Try Yarraville as well, this is the new up and coming area of Melbourne, and 5 km from the city.

Happy hunting.

Colin

asprilla

Hi Matt, you can save a bit on the mortgage and still have a nice house, but you will have to compromise with the commute...It will be the same story in any big city in Oz.

ozzieeagle

http://www.realestate.com.au/cgi-bin...&tm=1200949970

This is less than 30 mins away from the city.... Ask your freinds why they havn't recommended it.... I'd like to hear valid reasons why as well, thats coming from someone thats lived here for a couple of decades plus.

For 500,000 you will definitely build the house of your dreams here... I suggest... you check out... Simonds.com.au... then "single storey homes"..."liana"... then do a virtual tour... you can definitely build that and get change here.

So if you dont mind building, give that a go... they... along with Porter davies and Metricon also have display homes for sale... in fact Metricon have one for sale.. complete with landscaping, pool and close to the lake for 460,000 ( I reckon 445,000 or less could get it)...

Id really love to hear some reasons from people why Craigeburn, wouldnt be recommended.

Techno Freak

We are buklding on the Chase too. See you over there sometime. We have bought the land, but cant star the build until October, and wont be ready until June 09 - so, a long way off.

Geelong Gent

When they say 600 they mean 660 (but expect it to exceed 700).

The suburbs you mention are surrounding "posh" suburbs.

For $500k budget does this include the cost of purchase? if not you need to also account for the stamp duty which is roughly 5% (not a direct calculation as it is stepped - but this should give you an idea of the cost).

Geelong Gent

When did you go back Colin? I know of some people now spending $900K in Blackburn

asprilla

out of interest, how long does the commute to the city take in peak hour?