First Home Buyer Opportunities in Hadfield

On Saturday I drove to Hadfield to bid at auction. My buyers were excited, nervous and prepared, which is to be expected from first home buyers who have carefully selected a home with all of the right elements for capital growth.

They had zeroed in on Hadfield, a tight little suburb wedged between Glenroy and Pascoe Vale just 13km north of the city.

Though it’s a small suburb, it offers exciting buying opportunities.

“My buyers could potentially secure their dream home and maintain a respectable repayment strategy.”

The house was special but presented challenges for my buyers. West Street is a semi-busy road, so the constant flow of cars and shouts from the driver’s side windows reminded us all that we would have to anticipate road noise from this home.

The house was part of a deceased estate and while it had been lovingly kept and presented nicely for sale, it featured all of the classic nanna-style characteristics that buyers could expect.

Focusing on the Long-Term

Three things gripped my buyers about this home. Firstly, it had a fabulous floor plan, which could lend itself to a magnificent renovation and would no doubt preserve the property in the long-term. Not many houses that first home buyers look at within a 13km radius of the city could serve as a 20 year home.

Secondly, the property had daggy plush carpet but beautiful hardwood timber floors underneath. This was one of the most important questions we had for the builder who conducted the pre-auction inspection. 

“The house was special but presented many challenges for my buyers.”

Thirdly, the house was situated almost in at the apex of the Glenroy/Pascoe Vale and Oak Park boundaries. Oak Park Station was a mere 1.9km drive away, making this a viable longterm commuter home.

As it fit our desired $500,000 budget, this meant that my buyers could potentially secure their dream home while maintaining a respectable repayment strategy in the face of career changes, children or private school expenses.

A Suburb on the Move

Subsequently, we had our pre-auction coffee at a cute little shop on Middle Road in Hadfield.

As we sat there sipping our coffees, we could see clear signs that this was a great suburb on the move. The changing demographic was obvious and aspiring young couples and families dominated the cafe strip.

Unfortunately, the property ran above our budget, and we had to step back to watch two young and passionate first home buyers fight it out.

But the $518,000 winning bid confirmed a growing theory – Hadfield is an up-and-coming area that will soon find itself on the professional first home buyer map in 2014.

For more information about Hadfield, read our suburb profile here.

Sales and Growth Chart - Hadfield

Source: Pricefinder

Points of Interest in Hadfield, Postcode 3046

St Thomas More Primary School
Moreland City Council

About the Author

Cate Bakos is an independent buyers advocate and qualified property investment advisor and has proudly been a property investor for 17 years. Cate has a Bachelor Degree in Chemistry (Hons), Certificate 4 in Property Services (Real Estate), a Certificate 4 in Financial Services (Mortgage Broking). She is also a licensed real estate and a Qualified Property Investment Advisor accredited by Property Investment Professionals of Australia (PIPA).

Leave your comment

Share with friendsX