New Beginnings
I'm currently living in Sydney and have decided to relocate AGAIN! :)I think this will be the 5th time moving interstate and have decided to finally settle in Melbourne!!! I like the cold!!!
Property prices in Sydney is just way to far out of reach for first home builder
Block around 650m2 in the outer suburbs currently sells between $550-$650K. By the time you build something decent, you are looking at close to $1m or tipping over $1m
Question is, where in Melb?
East side prices just makes it too far out of reach.
Unless you head towards Frankston or Cranbourne....but who wants to go there.
Epping and Wolert is affordable, but we were put off by the big overhead power lines
I decided to go against everyone's advice and headed out west to have a look.
Yes the traffic has a lot to be desired out west, but I figured with the amount of $ the government is spending to promote the area, it can only get better over time.
So we had a short stay around Lake Sanctuary, drove around and saw plenty of new and insanely massive houses around the lake.
Land prices for water front property was being advertised up around the $700K mark. This has jumped significantly from 3-4 years ago, when blocks were selling around $500-$550K mark. Definitely out of my reach. But definitely a good sign of growth
We looked around new land releases in Point Cook and was pleasantly surprise that a block of land 650m2 can be had for sub $300K. Block are close to the coast and with all the new shopping centres, massive sporting complex, brand new modern houses, and new infrastructure being invested by the government. It's pretty much a safe bet. Plus the train ride from Williams Landing to Flinders is only 35 mins. Can't complain about that.
Yes supply around there is greater then demand at the moment. But I'm in it for the long haul and thinking long term. Once everything is built up and more and more areas being established along the coast down Werribee to Geelong. PC will be eventually prime real estate.
That's my opinion anyway, I may be way off and the suburb may turn out to be the biggest Boganville in Melbourne. Who knows ......
Anyway, we found a nice block in the new Paragon Estate and decided to put a deposit on it
Land was settled in Dec 2013 and am now a proud owner of a piece of dirt.
Good thing is land is already titled ready for construction
We have a builder and design in mind
Now comes the long drawn out process of getting to construction stage.
