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Buying a House

Discussion in 'Off Topic' started by MISS VDUB, Feb 22, 2008.

  1. MISS VDUB

    MISS VDUB New Member

    Messages:
    947
    Location:
    Beautiful Mt Nebo, QLD
    Hey Guys,
    Well Bob and i had the mortgage broker come over the other day for the big "give us all your money" discussion. Pretty scary stuff. This is our first house, and i think we will be living on Bread and water for a while!!! There's no surprises why people can't afford to buy into the housing market anymore, especially if you're single.
    We have found a beautiful house we are going to have a look at tomorrow... we have already fallen in love with it from the pictures. I'm so excited, but also packing pineapples at the same time!!!!
    Does anyone have any tips on what to look for when inspecting a house, and also any tips when it comes to making an offer and bargaining.

    Ash x
     
  2. melissa

    melissa Administrator Staff Member

    Messages:
    15,671
    Location:
    Newcastle NSW
    Bathrooms and Kitchens are big ones... no doubt you would be getting an inspection done on anything you were interested in, but if the bathroom or kitchen needs to be replaced look at $10 - $15K each..unless you know people or you are very handy.

    Forgot to say good luck and wish you both all the best in your search. I have bought 2 houses and both of them were empty when I looked at them, I see that as a good sign and I didnt have to imagine my stuff over anybody elses stuff.
     
  3. mish13

    mish13 Well-Known Member

    Messages:
    3,504
    Location:
    Gold Coast "Parkwood"
    I have brought and sold a few houses over the years and I cant stress enough to find yourself a really good building and pest inspector,as I think Melissa already said. White ants are the main thing you don't want to find.
    I wish you all the best as there is nothing better then having a place to call your own.
    Good Luck Michelle
     
  4. kombimatt

    kombimatt Active Member

    Messages:
    1,768
    Location:
    Dodges Ferry, TAS
    I'm sure you have heard it before but be ruled by your head not your heart with the new house you have found.

    It is a big step you are taking having that mortgage govern your finances so make sure you can cope with repayments while also leaving some spare cash for things you and Bob can enjoy together. Nothing worse than going out for a night out or buying that new VW part and thinking Oh bugger I'm not really sure if I should do this/get this can I afford it?????????

    Good luck and all the best - hope all your dreams come true!
     
  5. ruby6689

    ruby6689 Well-Known Member

    Messages:
    8,433
    Location:
    Burnett Heads
    That's great news I bought this house without seeing it up close, just fell in love with the position, I got goose bumps up my arms as I veiwed it from the distance so I guess I'm the worst person to give you advice......good luck with your search.
    I always feel happy when I hear of a young couple taking the step into home ownership it's darn hard to get that start these days....congratulations................Lorraine
     
  6. The Dub Driver (Byronbug)

    The Dub Driver (Byronbug) Well-Known Member

    Messages:
    4,892
    Location:
    Queensland
    Ash
    remember what I said about a clause in your contact...
    Will buy only if it passes pest/termite/building/flood etc inspection...
    Judy
     
  7. GypsyWannabe

    GypsyWannabe Active Member

    Messages:
    3,030
    Location:
    Quakers Hill, Sydney
    All the above suggestions are good but one I would add is to buy a home, not just a house.

    Stand/sit in it and get a feel for the type of home it is. Check out the community, the neighbours, the schools, the shopping centres and reserves nearby. Walk down the street at different times of the day/night, different days of the week....

    A home is so much more than bricks and mortar.

    Good luck!

    Baz
     
  8. morts

    morts Member

    Messages:
    158
    Location:
    McLaren Vale, SA
    Hi Ash

    As far as negotiating a good deal it depends on what the broader market is like at the time you are buying and what the market is like for the particular type of property you are looking at in that particular suburb or pocket of the suburb.

    For instance if things are a little slow you are in a good position to negotiate the property price downwards, however if you are in a hot market you can easily miss out if you don't submit your best offer almost immediately.

    Once you have decided on the area you want to buy in and you have decided on your preferred house style inspect as many target properties as possible that come up in that area and follow up what they sell for. Within a short time you will be well versed on values in that area and will instinctively know a good deal when you come across one.

    Also, once you have found a house that you are intersted in inspect it at least three times. After the first visit the wow factor is gone, and each subsequent visit you tend to notice a lot mored detailed things about the property that you don't pick up on earlier visits.

    Is the property for sale by auction or for sale by private treaty?

    I can understand how excited you are - I still remember buying our first property! If you do not get this property don't worry - think Kombi Karma (the reason you didn't get it is because there is something better out there for you)

    And finally, and you may not believe this at the moment as this is your first purchase, but the deal of the decade usually rolls around about once a fortnight!

    Good luck!

    Michael
     
  9. The Brewmaster

    The Brewmaster New Member

    Messages:
    3,683
    Location:
    Moffat Beach
    Best of luck Ash and Bob

    Best of luck Ash and Bob

    All the above has been great advice but one I would add is to have an unbiased third party to go along with the two of you during one of your visits to the property. Then you have a voice of reason to interject with the heart factor that often consumes the potential purchasers.

    Good luck with it.

    Cheers
    Brett
     
  10. zeuspig

    zeuspig Active Member

    Messages:
    1,472
    Location:
    Sunshine Coast
    I think you have been given some good advice. I am looking at the moment myself on the sunny coast and have just been going to inspections to get a feel for what houses go for in different areas.

    You can also get a print out of houses that have sold in the street, what the person paid for the house and how long ago to get an idea.

    If anyone is looking at buying a property in Mackay I have one for sale!!!
     
  11. ruby6689

    ruby6689 Well-Known Member

    Messages:
    8,433
    Location:
    Burnett Heads
    Does it have waterfrontage Zeuspig???????????
     
  12. kombimatt

    kombimatt Active Member

    Messages:
    1,768
    Location:
    Dodges Ferry, TAS
    Hey Ash how did things go?

    Any news or developments?
     
  13. zeuspig

    zeuspig Active Member

    Messages:
    1,472
    Location:
    Sunshine Coast
    Haha, No water frontage luckily it stayed dry over the flood. Came up in the backyard a bit.

    Although it was a different story for my sisters place unfortunately.
     
  14. MISS VDUB

    MISS VDUB New Member

    Messages:
    947
    Location:
    Beautiful Mt Nebo, QLD
    Ok... Bob and i didnt get much sleep last night. We have been in negotiations with the owners of the house since 1pm yesterday. We're both feeling very stressed and overwhelmed. We're both riding the emotional rollercoaster at the moment, and it's only just begun. We have both agreed on a price, and pending on the Green light with the finances on Wedneday, we will be the proud owners of a beautiful Colonial House in Mt Nebo... Well the bank will anyway...:)

    Ash x
     
    Last edited: Feb 24, 2008
  15. ruby6689

    ruby6689 Well-Known Member

    Messages:
    8,433
    Location:
    Burnett Heads
    Fantastic Ash and Bob...finger's crossed for you....Lorraine
     
  16. kombimatt

    kombimatt Active Member

    Messages:
    1,768
    Location:
    Dodges Ferry, TAS
    Good news!

    Lovely to see a young couple starting out. All the best.
     
  17. KahunaKombi

    KahunaKombi Super Moderator Staff Member

    Messages:
    22,287
    Location:
    Bracken Ridge, Qld
    Know how you feel Ash and Bob - nervous times but you do have a cooling off period after signing and the building & Pest Inspection is a must to get done 1st for peace of mind and also to protect you in case they have not been honest with you - trust no one - like buying a Split on ebay to find it is full of bog but the house is a more expensive exercise.
     
  18. kyznet

    kyznet Active Member

    Messages:
    4,671
    Location:
    Ashgrove 4060
    Hope it all goes well for you guys - there's a couple of KC members up there at Mt Nebo.

    One thing I was going to suggest was to check out what the place is like at night - you'll notice completely different things at night. Oh, and I would always take a tape measure - we have big furniture, so we always had to make sure our furniture would fit in there.

    Best of luck. :)
     
  19. back street bessie

    back street bessie Active Member

    Messages:
    4,335
    Location:
    Kangaroo Point 4169
    Hey great news Bob and Ash,im very happy for you both.What a nice area to live in also..i love that part of town. :)
     
  20. ModelJets

    ModelJets Active Member

    Messages:
    1,265
    Location:
    Brisbane
    Good luck Bob & Ash. Just make sure you factor a couple of rate rises into the repayment schedule and you'll have that buffer.
     

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