Hi Ozbargainers,
It looks like I'm getting $400k approved soon. Need advice from you all how to find the best house for that price in South Eastern suburbs Melbourne? (Cranbourne is a bit far for me ). I am a first home buyer and will be looking for a 3 Bedroom house/ townhouse if possible. Thanks in advance.
Cheers,
Matt
Wow. I need to move to Melbourne. $400k for a house? In almost all of Sydney, you can't even get a one-bed apartment for that.
Cranbourne would probably be the closest to the city at $400k for a house
Going to be tough to get a house around 400k in South-east Melbourne apart from the newer areas of Cranbourne and Pakenham.
You may be able to get a unit for around that price, but even those are going for $410,000+
Best bet is just to keep looking, widen your search to as many areas as possible.
I was in the same situation as you last year, and believe it or not in the same area (I'm located in Narre Warren)
Can you push up to $500,000. I think you'd struggle to find 3 bedrooms for $400K
If you want to buy an established property then go to https://www.domain.com.au/auction-results/melbourne/ and work backwards to see what kind of dwellings and locations your budget will allow. Then focus (inspections/auctions) to get to know the segment well and after doing some serious on the ground research hopefully you can buy well.
laughing while fading into a cloud of disbelief
But nah seriously I don't think you will be able to find 3-bedroom anything (house/unit/apartment/granny flat)with your budget.
The last time I checked, a 2brd 1bthroom in Clayton South was $600k, this was a year ago.
Perhaps look around Cranbourne and Pakenham, or somewhere else in the north west.
Thank you folks. Alright, I've got a fair idea now, going to be realistic and look for a 2 bedroom unit/ townhouse. All your input is much appreciated.
Is ur deposit 20% $100k?
No, only 5%.
Under $500K house in Melb is possible in outer suburbs. Such as Mernda. or you could look in to land.
Hi Matt, we purchased in this area 3 years ago. To get the best price you need to know the market for your area well. We put in an offer prior to auction that was accepted.
We were able to put in just enough for the offer to be accepted - real estate agent thought it was very reasonable - and because we knew well what other houses in the area were going for, we know that we paid less than we would have at auction.
Thank you for your insight
Maybe check real estate websites but i could be wrong