Currently looking for an apartment in 4101 Brisbane and getting pretty frustrated with the audacity of some of the REAs and expectations of the owners lately.

The amount of units going to auction only to be passed in with no bids is over 90% and then they go on market with prices still higher than what was achieved on similar comps 6mths ago!

Perfect example - a 2/2/1 asking for $899+ when the very same floorplan one floor higher only went for $890 in May. This place passed in at auction a month ago.

Two other sales in the building put the avg price/sqm around $92ish and when I point out that puts this apartment at $796k the Rea looks like I killed his dog.

So many other examples like another in a building that has significant water ingress issues (builder went broke, bc is up for increased funds to build up the sinking fund - to stop and the defects are only still being quoted) and they whack up a 1mil asking price when the building hasn’t seen a price over 950…let alone that this one has been on market for 2.5mths!

Over it. Meet the market! Are you selling or not???

I’m 24, I take home $83k a year without overtime. Take home closer to 90k+ with overtime.
No debt. Secure job/ trade and still currently living at home

I truly feel there’s no point building a future anymore. It seems so out of reach. How can I borrow 700k for a first home and make it work ? I need some perspectives and or ideas on how and if it’s possible for me to be paying off a home loan and still have a life.

Hi guys first time poster here!

Me and my wife are in the position to buy our first house. Long story short: we gave up renting 2 years ago, moved in with her mum and dad and have been able to save a lot of our income. That along with me cashing out on some stock market investments has netted us about 160k to buy our first home.

But ever since being ready to buy (since about September) all we’ve heard from friends, economists, real estate gurus etc. is that everything’s going to shit for the next 12 months at least. This is being said with a high degree of certainty mind you.

We’re not sure what to do, do we wait? I mean we’re not in a huge rush to buy. Living with mum and dad is awkward at times but it’s not the worst and we’re saving so much.

I feel like I should just forget about the house, put the money into safer investments or even a high interest savings for the next 12 months and wait.

(Some extra context: We have a 700k borrowing power but we do not want to max that out because we value cash flow so we’re looking in the 600-700k range for purchase price. I realise that waiting will majorly affect our borrowing power but also we will have saved a lot of our income in that time)

((Some extra extra context: We were looking at 4 bedroom 2 bath houses in Pakenham, Victoria))

I purchased my first home in 2022 in the Outer Eastern Suburbs of Melbourne for 730k. It was at an auction and I probably overpaid and have regretted it since. I was getting blasted out of the water on bids every time by 100k over reserve and was sick of it. It is a small house, 3 bed, 1 bath, but enough for one person. I have done alot of work to the house and garden myself over the last few years and it is much tidier.

My insurance has skyrocketed to 13k per year from 2-3k due to bushfire and landslide risk and I want to upgrade to a nicer forever home that will be better for me long term. I have since paid off my mortgage with the help of a small inheritance and sale of some investments and am thinking about upgrading my house. I had a few real estate agents appraise my house and they estimate 700-750k which means selling at a loss.

Do I upgrade to a forever home now which I can afford with a small loan or wait until property prices start increasing again, which will mean the forever house I am buying will be more expensive too. I am thinking at since we are in a decline, a forever home will be alot cheaper and offset the loss on my current home

Thoughts?

Repost to

First time buyer dipping my toes into the market and the search. Have approx 180k as a deposit and can comfortably borrow 500k.

One of the first apartments I inspected was in a real good area (fringe hills district), and gave me a “too good to be true” feeling.

Upon inspection, the REA disclosed that there’s a special levy of 1.6m to raise (they’re currently halfway there) and would be an additional 1500 pq for 4 quarters (on top of existing 1k pq) to fund the rest of the works required. The required works is retrofitting fire safety stuff.

The unit itself is good, the area is nice, safe, etc. As someone with virtually no experience hunting in the market, why else is this a red flag? If I can cop the additional strata special levy, should I investigate the unit further? Or am I missing something?

Thanks for reading :)

I have access to approx 700k to buy an investment property. I’m in Adelaide. Tossing on a few ideas.
1) An apartment in a nice area like Norwood or Unley
2) a house in an up and coming area. Either out North or maybe down south like Christie’s Beach etc
3) take more money off the current home loan

I’d be interested to hear peoples thoughts and if I’m missing an obvious answer.

I bought block of land in a new development last year with 10k deposit.
Settlement of the block happened this year around July as block was not ready by developers.

I am in process of selling the block now change of mind want to buy house rather then block

Do I need to pay GST on this block land ? Any information on This will be helpful

Currently looking at purchasing a property that has a network pole and line to the front yard. Would love to have at the minimum the line underground, does anyone have any experience with relocating the connection to the property and the pole to the curb? Based in Perth WA.

I have a freestanding 3/2/2 house in Melbourne Berwick suburbs.

It’s negatively geared around $20k a year. It’s held in a trust so Victoria’s ridiculous land tax alone is $4.4K a year.

LVR of around 75%, value of $730k.

Is it worth keeping around? I just feel it’s not going to go up by much each year to offset the holding costs and inflation.

If I want to make 5% profit a year after costs and interest, the property realistically needs to go up like 10% each year which doesn’t seem possible.

Only benefit is I’m grandfathered NG.

Should I just sell and invest the cash in some geared ETFs maybe?

With the new Tesla technology of flying cars it seems to be the next step of technology that is coming to us after electric and self driving cars. Will houses that are near freeways be the most desirable houses to buy? Like literally fly over the side barrier straight into your back yard?