Melbourne property under $500K.
It’s evident that property prices in Melbourne continue to increase. Many find it difficult to meet the affordability, while others are fortunate to manage a large property portfolio. Nevertheless, every type of buyer would be very interested in sourcing a quality property, particularly Melbourne property under $500K.
As at September 2017, here are some property opportunities that will fetch you less than $500K to buy:
Apartments in Melbourne under $500,000
In a nutshell, Apartments are often the most affordable. They are generally developed in inner suburban areas that are within close proximity to the Melbourne CBD. You are buying real estate that has an abundance of amenities and public transport to provide a quality lifestyle.
Locations, where we have found a 2 bedroom Apartments for under $500,000 in 2017, are – Bentleigh East, Brunswick West, Cheltenham and Essendon North to name a few.
Townhouses in Melbourne under $500,000
If a Townhouse is more your appetite, you need to consider compromising the location and moving further from the Melbourne CBD. Even locations that are within a 10-15km radius, often fetch a price tag of over $1M. There is a fine balance around location vs lifestyle and this should be considered when considering the difference between an Apartment and a Townhouse. A Townhouse may provide a large space, but the fixture and fittings of an Apartment can be very sophisticated with hidden storage facilities.
Locations, where we have found Townhouses for under $500,000 in 2017, are – Bayswater, Glenroy, Laverton, and Sunshine to name a few.
House & Land in Melbourne under $500,000
Often many of us want open space and a large parcel of land to entertain or care for our children. A large house and land sound great, but the location to maintain a $500,000 budget means you really need to move out in the outer suburbs.
Locations, where we have found a 4 bedroom House & Land package for under $500,000 in 2017, are – Geelong, Bacchus Marsh, Melton, Wyndham Vale to name a few.
This perspective is based upon our own research dated September 2017. Property markets change and these may no longer be right for you. Please note this does not take into account your personal circumstances. Please consult an accountant or financial planner to consider if this is right for you.
What should we do?
As property prices continue to increase, its never easy to source a Melbourne property under $500k. As time goes on, the above targeted areas may differ, but it is part of our job as buyers advocates, to source brand new and off the plan properties. No one has the same criteria or budget, however if you are looking for a Melbourne property under $500k, please don’t hesitate to contact us. We would welcome the opportunity to help with your property purchase. Our YouTube channel and Market Insights also provide a wealth of information to assist you with many areas relating to property investments.
While we have taken care to ensure the information above is true and correct at the time of publication, changes in circumstances and legislation after the displayed date may impact the accuracy of this article. If you want to learn more, please contact us. We welcome the opportunity to assist you.
Sep 2017
