F51
Abode Hunting
January 21 2018
Comments
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RHP User
8 years ago
I couch surfed a little with friends and family in and around the Metro area..Was SORT-OF seeing a lady, but needed my own place again."Said Lady" pissed me off one day.. and I took off on the bike.. ended up in "Mount Helena"Lovely little community.Found myself looking in the window of a local realestate office..A delicious lady came out and asked if I wanted something...Short of it, I bought a fucking house..3x1 on 3/4 acres, with a decent shed and HUGE trees..So.. we signed me up and I went back on my minesite..Come settlement days and shit.. and agree to meet on the property for an inspection..Fuck me.. I called her up and said... "Where he fuck did I buy a house...?'She told me the address, and I realise I was in a community 15kms away...We had a hell of a laugh.. with her relating that she had NEVER had anyone buy a house, and then forget where it was..
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RHP User
8 years ago
Serious?! That's hilarious! 🤣 With property prices having hyperinflated between then and now, it would've fetched you a lovely bundle!
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RHP User
8 years ago
...I saw what I wanted and knew what I would pay for as well as the cost of personalising my hideaway. The absentee owners didn't know they wanted to sell but like most things, negations are paramount and I didn't mess with middle men like agents etc. Zero emotion until I closed the deal....and got that plus the adjacent block for substantially less than I was willing to pay. All good...it's just another purchase and if that one didn't go my way the next one on the list would have. CM aka the Real Estate Iceman 😎 - Posted from rhpmobile
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RHP User
8 years ago
I've got to learn how to walk away. Please, nobody sing, "Let It Go"! 🤣 Although I'm close to putting in an offer on another place, my heart is still sore about missing out on the first one. 😕 Ah well... moving on! 😛
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WineAndFunTimes
8 years ago
We moved mid last year. We were lucky that we found something we loved fairly quickly but there was 5 offers on the table after only the first open home. We offered about $20,000 above asking price as a best and final with no idea what the other offers were. We have no regrets about the extra money we paid because our house has everything we were looking for and we are very happy. - Posted from rhpmobile
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Sawadee
8 years ago
The friendly real estate agent you mentioned used you as his pawn to prise another 3K out of the other buyer. Meaning a bigger sale price and larger commission . These cretins play one against the other all the time . Personally I loath real estate agents with a passion. As far as I'm concerned they are nothing but retired car salesman. When I sell up in the next couple of years , I won't be using a R.E agent that's for sure..
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gazpacho
8 years ago
I bid bravely at an auction and ultimately was the highest bidder on the day. I foolishly thought that the house was mine, because the agent had nominated a property value and I was a good $60k above that figure.The property passed in, failing to reach the reserve. The agent sold it next day to one of his colleagues, I expect. I read somewhere that I can get areal estate licence by simply completing a two week course! Pity that they don't seem to teach ethics. HugsGaz
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GezWouldGo
8 years ago
I call them used house salesmen!
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RHP User
8 years ago
Ive bought and sold more than a few homes, and had a couple of investment places too. Things Ive' learnt. !) It's true what they say about location. Buy a place you can afford in the best location This is good for both re-sale and value appreciation. 2) having said that, if you buy a place that needs lots of work, DO NOT over capitalise. It's a rookie mistake and is made by people all the time. There's formulas you can google that give a good indication of what to spend on a renovation in relation to the cost of the property. 3) Cash is king. If you dont have cash to purchase, then make sure your finance is approved and ready to go. Its easiest to be 'gazumped' when your offer is subject to finance. 4) ignore Jayme's rant about agents above. Fact is the agent works for the vendor and as such is beholden to get the best price possible for them. If more than one party is interested in a place then bidding will occur, it's not corrupt, its sensible. If ever you put your place on the market you'll want the agent to do the same for you. 5) Trust the vibe of a place. If it has a cold clinical feeling or a warm welcoming feel that will make a huge difference both in terms of livability and will have a big impact on re sale potential. 6) ask a real estate agent to provide you with a list of all the recent sales in the area/suburbs you are interested in. Then you can see the asking prices versus what people actually paid. This knowledge is very handy. Owning your own place is awesome. Congrats and enjoy the hunt. (PS Im not a real estate agent :)
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RHP User
8 years ago
When you have to stick to a budget. ☹️
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bonefide
8 years ago
One of the hardest things some people do in thier life's, both singular and as a team. Looking for your forever place that ticks all the boxes or most of them, and or building that bricks and mortar castle. Or simple apply to be on the block have 4000 trades at your place, companys/supplers scrambling to get your requested items to u on time, while wearing company logo, and tools down time to do a challenge for 10 grand. Shit shit shit did I think that out allowed. 😆😆😆
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Katkat
8 years ago
Used my charm so me & my ex bought the land I made all the negotiating & hunted a house builder and built it from there couldn’t be any happier less than 5months house is up and we got the key why would the builder take long if they can get their $$$ straight away now I have I house to myself and my housemates all females yay! - Posted from rhpmobile
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MsJonesy
8 years ago
After having bought & sold a number of times (and I may have had a short employment stint in the industry 🤔), the best advice I can give is to take the rose coloured glasses off when buying property. There is ALWAYS another property if you miss out on one, and being objective when assessing whether to buy, and what to buy, is really important. How much did I pay for my property? Exactly the amount I offered on my first and only offer. Which happened to be $1,000 above their "$x+ offers" listed price. I was happy to walk if the offer wasn't accepted....but I knew they were desperate to sell. The agent knew I was bring completely objective about the purchase, and that I was serious about my "one & only offer". I didn't fall for any psych pressures...I always had back up properties to seriously consider/put offers on, so I was not available for emotional manipulation. For my last purchase 5 years ago I kept my options open with regard to location (specific areas in 8 suburbs were in the mix), style of property (house, towhouse, unit), and age of property. What was important was that it could be re-sold easily -- that it would appeal to many! No quirky features, good bones, classic style, not full of current interior design fads (brass/bronze/gold fixtures? So 2017!) I looked for 6 months, so I could do my research and know the property values in the areas I was interested in (keep a folder with brochures, notes and sale prices). The renovations are continuing and they are mainly cosmetic. I will have to update the 2 bathrooms & the kitchen prior to selling, but thats an easy task as the layouts do not have to be changed. I totally agree with Sharon112 - agents work for the vendor not the purchaser. Don't chat too much with them, don't share all your property dreams and gush about how wonderful the property is. Its a business transaction - take the emotions out of it when dealing with agents. Keep all the excitement for chats with friends/family. Good luck Peony - there is the next perfect property for you just around the corner 👌😊
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RHP User
8 years ago
Cash is no longer king, I'm afraid! The seller wasn't interested in cash. 🤔😮
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RHP User
8 years ago
That's quite the portfolio! The one-bedroom apt scene in Melbourne sucks. The glut in the city apts is rightfully so - most of the 1-bedders are horribly tiny pigeon holes with a joke for a kitchen, and I wouldn't even bother inspecting them. A few new blocks along Elizabeth St are obviously targeting the China buyers with a crazy price tag for a shoebox! Simply outrageous! Most 1-bedders, especially the newer ones, are crazy-tiny. Those tend to stay in the market for a long time. So when you come across the rare one that is large and feels spacious, there is a buyers' frenzy for it! I try to avoid auctions, but looks like this new one I'm looking at might end up with a boardroom auction. Sigh... 😣😯
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RHP User
8 years ago
"Cash is no longer king, I'm afraid! The seller wasn't interested in cash. 🤔😮" That makes absolutely no sense at all unless you were offering less than the other bidders.
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RHP User
8 years ago
I offered the highest price in the range. My friends and I wondered if the agent was playing some sort of bizarre game. I actually suspected that he used my written offer to get the other buyer to raise his offer. In the end, I lost out by just $3000. I could've offered more but I felt at that stage, I was already offering $10K above what I feel is the market value. My heart wanted to bid $15-20K above the highest end of the price range, my mind cautioned, "Don't be a bloody idiot!" 😛 Seriously, good luck to the buyer for getting the banks to approve the mortgage on a place that's been way over-valued. I've learnt the trick to getting over a lost opportunity- judt keep on moving, keep on searching, and only allow yourself 24 hrs to grieve. 😛
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MsJonesy
8 years ago
I'm not a property guru...just the one place! 😁 CBD is a nightmare...totally agree about the shoe boxes. Sooo....change the area you are looking in.
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RHP User
8 years ago
Myself and the ex had the biggest problem with the conveyancer. We found a house that was perfect for us via a real estate agent and exactly in the price range we were looking at. Being first home buyers we were unfamiliar with the process. We had pre-approval on our finance, we offered asking price to the real estate agent 5 minutes into our inspection. We were aware of the whole gazumping thing and didn't want to miss out, this house was exactly what we were looking for. We get told we have to contact a conveyancer who acts as a mediator for all the paperwork. One was recommended to us by the estate agent so we just went with them. The conveyancer meddled with every bit of the negotiation process, kept ringing myself and or the ex and basically abusing us over the phone because we were ''holding things up'' and we should ''just get on with it''. No lady, there's a whole section of the roof that it is rusting and needs replacing we will not just get on with it. The estate agent, the vendor and myself all had a great relationship, were working together to sort things - this drove the conveyancer absolutely mad, who would ring me and berate me because I was ''organizing things behind her back''. I finally had enough of this one day and said ''I am not going to deal with you anymore, I wish to speak to your manager''. The manager rang me back and abused me herself, told me I had insulted one of her staff and this was not to be tolerated. I had a nice little mini-explosion over the phone, filled her in on the details and basically said ''I am paying you over three thousand dollars to file paperwork, not to tell me what I can and cannot have or do with my house'. I apparently need you to buy a house, you know this and consequently think you can treat me however you damn well please. I am paying you over three thousand dollars to be rude to me, stop for a minute and think how that would feel to you''. After a threat to take the whole thing elsewhere, money be damned, plus a little visit to the Real Estate Institute, everything calmed down and we managed to purchase a house. My lord though - of all the people I expected to try and screw us over, the paper monkey was not that person.
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RHP User
8 years ago
Oh... thought you've "bought and sold a number of times"? So I imagined you flipping property and hearing ka-ching! 💰💱💳 Ka-ching! 😁 I didn't even bother inspecting any city apartment. A friend in Docklands has to wash her pots and pans in the shower because the kitchen sink is a token half-bowl ornamental stupid thing! 😒😝 A lot of city apts are appalling, built without a care nor a thought. 😕 And Melbourne ought to come up with the mandatory minimum sq m regulation already! The minute that occurs, market value for those apts falling under the min requirement would surely plunge! Those under 50 sq m are going to be white elephants. I ain't touching them! 😛
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RHP User
8 years ago
It's pretty appalling that some apts here are similar to or even smaller than the ones in Hong Kong! Makes you wonder who gave these buildings approval! Or maybe, they just do not care about anything else beyond money. 😒
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madotara69
8 years ago
Massey University of New Zealand - Te Kunenga Ki Pūrehuroa ... Did a thingy and that's why I'd be no good at it :) The study compared buying a home and the breakdown of figures relating to profits invested Also a breakdown of renting If you rent over the same period of time and invest the money it costs as a home owner, interest, rates, insurances, maintenance, taxes, sales commissions, etc You may find if you put that geeky mind of your favourite place to be :), you could live in an apartment passably nicer to the budget with buying now, look at the Massey uni for yourself, guess you might by having control to invest your money over a lengthy time, ways ahead in the hop and skip the jump.. 'The kinfolk said "Jed move away from there" Said "Californy is the place you ought to be" So they loaded up the truck and they moved to Beverly....... Hills, that is. Swimmin pools and movie stars.' That's my good deed for the day, back to the flux capacitor and how to fit this F1-11 flight simulator into the space ship, Tara can wire it up, it's her thing.If you get ahead of time, in time, we're taking off, going to have a look at the single only Universal certainty, wanna see absolute chaos ?? Mado Mado Tara xx
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RHP User
8 years ago
I don’t own any more that went south with the marriage but when I was married we built and renovated. Apart from the usual location location location objectives I look for gas connected as electric cooking and hot water are nightmares, a bath, and good insulation. 😃
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RHP User
8 years ago
When buying a property one should forget about emotions. Real estate agents do not work in vendors interests either. Many have lost money while selling houses. Tell your friends you are buying. Try to find the seller and offer to buy without the agent but through a lawyer. They save, you save. It can happen. That is how we bought our first property. Choose few locations and do a research. Online and offline. As MsJonesy has said- buy what you can afford in a good location. Have your finances ready. Remember, money is real. It is not air. Considering prices, you will have to pay for your property for the rest of your life. Fight for every dollar and do not be ashamed because of it. Do not let yourself be blackmailed, always have back up properties to consider. Look for structurally healthy property, not decorated and I would avoid cbd. Usually it is better to buy in winter, go for an inspection (or auction) on a rainy day. If you are buying through a real estate agent, complain a lot. Do not talk about how beautiful it looks. There are always other properties. Strategically look for faults. Go with the friend, preferably a builder, who can find all sorts of faults, and play a good cop-bad cop game. After all agents are playing as well. Ask why the owner is selling? Go and see the neighbors. If owner is not interested in cash, they are still interested in something. That might be a good thing. Find out what. Adjust your offer only once but not by much and make it clear that it is your final. Then stick with it. If it doesn't work, it will next time. Some say renting now is a better option. Best of luck. (Ms)
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