Buying a House

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vat_man

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My partner and I are currently in the process of buying a home in Sydney for an outrageous amount of money.

I have a small place in Melbourne that I have rented out, so this isn't completely new, but this morning we put an offer in for this place we liked, and I have to say, I have this slightly nauseating pit of fear in my stomach.

Wish me luck guys - this has so far gone far too smoothly and I'm very much of the opinion that something's going to go horribly wrong.
 
Hopefully it all goes good.:)



I wish the best of luck you you and your partner, vat_man.;):thumbsup:
 
Thank you - I really don't want to keep looking. It's very tiring.

I don't know what it's like where you are, but Sydney real estate, especially reasonably close to town (we'll be about 10km out if we get this place) is like hand-to-hand combat.
 
Originally posted by vat_man
My partner and I are currently in the process of buying a home in Sydney for an outrageous amount of money.
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:rotfl: - Sounds like fun.

Seriously though, good luck.
 
**** sydney, come live here in brizzy. no bushfires and no dumb lunatic soccer nutcases :lol:

but hey, good luck mate. i remember the auction for this place im living in... :cry:
 
Originally posted by Dudebusta
**** sydney, come live here in brizzy. no bushfires and no dumb lunatic soccer nutcases :lol:
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Well, that's debatable - they've got you, haven't they? :D
 
Good luck man. We bought a house about that distance from the centre of Edinburgh last year. I still remember the experience - long periods of nervous waiting followed by brief periods in which you have like 5 seconds to make a decision that's going to change your life.

Not fun, but highly exhilarating.
 
Originally posted by M5Power
It's really that hard to find and buy a home?
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We've never had any problems.:confused: Then again we have our houses built.:p


My aunt & uncle just bought a new house like 2 weeks ago before they even sold their current one. The only thing that posed as a problem for them was possibly not being able to find a buyer for the current house.
 
Originally posted by M5Power
DudeBusta: It seems only to be a problem in Australia and Great Britain!
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It's a Sydney thing. Sydney, being Australia's 'international' city, has a very high proportion of high income earners, and consequently demand for inner city housing particularly is backed by buyers with high incomes. So, you've got this mix of people buying for investment and, like us, people looking to buy somewhere to live. There's really nothing like it in Australia.

Given the spread of large cities in the US I seriously doubt there would be anything like it there. UK people might like to think of London, and NZ people think of Auckland, to get an idea of what I'm talking about.
 
Goodluck vat_man! I hope the smoothness doesn't end for you soon... ;)

Anyway, I have no experience in real estate... my parents probably have but like Josh we had our current house built too.
 
Good luck, man. Nothing like owning the place you live in, even if it is mortgaged for years to come...
:lol:
Hope all the signatures get collected without a hitch.
 
Wow, good luck for sure. If I can offer any advise, get a stamp made with your signature on it. When my wife and I bought our house three years ago, we spent almost 4 hours going over papers and signing stuff. I must have signed my name a hundred times....

It is a good experience though, there's nothing like owning your own home, building equity for yourself instead of your landlord! Once your there, you'll never go back to renting....:)

:cheers:
 
Originally posted by vat_man


It's a Sydney thing. Sydney, being Australia's 'international' city, has a very high proportion of high income earners, and consequently demand for inner city housing particularly is backed by buyers with high incomes. So, you've got this mix of people buying for investment and, like us, people looking to buy somewhere to live. There's really nothing like it in Australia.

Given the spread of large cities in the US I seriously doubt there would be anything like it there. UK people might like to think of London, and NZ people think of Auckland, to get an idea of what I'm talking about.
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I'd bet we've got the same problem in Washington DC, especially since the whole city's urban and completely confined within its small borders.
 
Originally posted by M5Power


I'd bet we've got the same problem in Washington DC, especially since the whole city's urban and completely confined within its small borders.
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Bet your ass you do, my uncle, the 2nd youngest of the 4, just moved back into the DC area, he had lived in Singapore for 2 years (works for Exxon...) but due to the limited amounts of available land/housing, he just had a house built in VA.
 
Originally posted by M5Power


I'd bet we've got the same problem in Washington DC, especially since the whole city's urban and completely confined within its small borders.
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Sydney has a similar issue. The metropolitan area sits in a natural basin, and is bordered by:
- the sea to the east
- national parks to the north and the south
- a river and mountains to the east
...so there's a physical limit to the size of the place. We're seeing strong growth in satellite cities.

The city centre sits about 5-6km in from the east coast, with the harbour carving out a lot of inner city land. As such, anything within 15km of town, particularly to the north and west (don't ask about the east - it's completely out of control pricewise) is in strong demand.
 
Hey, good luck and congrats.

I know a small part of the fear. I was looking at houses a bit ago but decided to hold off for a bit over the economy and my knowledge of how greedy partners at Big Five professional services firms are. (I was right to hold off, had the job axe swung my way). So, maybe someday, but not now.

Again, good luck and enjoy the place. Hope it has a nice garage.
 
Well, the vendors have accepted our offer - now the fun and games of building/pest inspections, valuations, mortgages and conveyancing begin!! I'm fairly freaked out (in the way that Hiroshima was a fairly large explosion).
 
Originally posted by The Porko
Vat_man do u know if u got the house yet. If not try out west and its not that far from the city.
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Well, they've accepted the offer, and we exchange documents Wednesday, so that would be 'Yes'.

This place is close to as far west as we were comfortable with going - the cut off was Pittwater Road.
 
Ha!

The spot's ideal - with our work backgrounds we're always going to be employed somewhere between North Ryde and the City, and access to those areas from where we've bought is excellent.
 

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