The problem with driving in though is not the traffic. It is the cost of parking in Melbourne CBD. If you don't have parking provided (which is rare for office jobs), it costs anything from around $14-$30 (or more) for a days parking. This is more than the daily cost of a train ticket, and then you have to add the cost of petrol and other car-related costs on to that.
To the OP - we live in Frankston which is a suburb I would recommend. The transport links are good and, as others have said, the train is fine. I drive to Carrum station each day (as I can get parking there), and if I catch an express train it takes about 45 minutes to Richmond Station (about 50 mins to Flinders Street). Otherwise I can catch a loop train straight to Parliament station which takes around 50-55 minutes. I catch a train between 7.30-8 in the morning, to get to work easily by 9, and can always get a seat. I can usually get a seat coming home too, but I do usually leave the city after the main rush hour (about 6-6.30pm most days - if I leave at around 5 it is busier).
The Cranbourne/Packenham lines also come down this way but tend to be MUCH more crowded IME. I have in the past changed at Caulfield so I can get an express straight to the loop, but have had on occasion had to let 1 or 2 trains go first as you simply couldn't get on the train, much less get a seat.
If you wanted to look at Frankston you would be able to get a reasonable house for you budget down here - look particularly at Frankston South, and many of the houses have pools. We don't but it wasn't a priority for us. My daughter has started at Frankston High this year and so far we are very impressed. Most of the primary schools are also good. Beware though that to get into the high school you will need to rent/buy in the zone.
