Home Sweet Home
Tim and I are trying to get into the housing market. More specifically, we’re looking to buy our first home. This home could either be a house, or a townhouse, but we’re not really looking into units or apartments (it’d just be like moving out of one shoebox into another, with the difference being we would be allowed to put picture hooks in the walls).
On Saturday, Tim and I went to look at a couple of townhouses in Morningside. We only ended up looking at one, because the other one seemed not to be an open house (dumb agents not keeping realestate.com.au updated!). It wasn’t too much of a problem, the one townhouse we did see was gorgeous. It had ducted airconditioning, two bathrooms plus a third toilet downstairs, separate laundry, new quality appliances in the kitchen, and a beautiful courtyard full of baby trees and plants and one big grown-up tree, and a covered paved area perfect for a bbq and outdoor setting.
Far from wearing rose-coloured lenses, I will also note that the kitchen was small, there wasn’t much cupboard space, and the second bedroom was quite small too.
Still, it’s hard enough getting into the housing market, let alone being picky about little things that we would be able to live with without too much trouble.
Unfortunately, there was another couple there who felt the same way. In the end, they were waiting for their parents to show up to tell them how much they could offer for the place. The asking price was $375,000.00, and it was a competition between us and them – the winner being who could make the most attractive deal to the seller. We both had one chance to make an offer, and were encouraged to offer the very most we were willing to pay.
In the end, we lost out to the other couple, which was a bit disappointing. We’ll never know how much we lost by either. It could have been as little as $500, but that’s not really likely.
Anyway, we’re looking at a few more places in different areas now. What we’re aiming at doing is buying something a little bit smaller, and a bit cheaper (hence looking at townhouses as well), pay down the mortgage with extra repayments and keeping all our money in an offset account, and then in a few short years, using the equity in our house to get a new place that would probably be bigger and a more ideal “home”. Maybe something we’d stay in for quite a while. Then we can rent out the old place and use it as an investment property.
I’m keeping my fingers crossed we find a place soon – the housing market is a real cut-throat industry right now, and it’s difficult for first-home buyers to get their foot in the door.
I’d really prefer not having to go all the way out to Darra to find a place…
