My First Home Search So Far
Hi All,
I started with my first home search journey from April this year. My wife and I both work in the Auckland CBD so central auckland was a our preferred area of search initially. But it didnt take us too long to be pushed in to outer suburbs. We finally came to a more desirable location for us in Papatoetoe.
1) Our first home led us into a 2 bedroom brick and title in birdwood avenue listed with an asking price of 699K. This was a small 2 bedroom unit only, perhaps less than 100sqm. We loved the property right away, but 699K was too much of an asking price. The agent was a nice lady, she spoke to us in a very helpful manner and continued to explain that she was "helping first home buyers" so that they do not have to go through the nerve wrecking auction process. I will admit I was so in to her talk, she could have convinced me to buy if I had that kind of money initially. But coming back home, I did some research, and found out that the property was listed at auction just 1.5 months after this agent bought the property at auction. She bought it for 641K, and 1.5 months later she relisted it at 699K asking price. She sold that property successfully for 697K.
2) Just 3 weeks ago, a property in st George street, which I was interested in again, sold at auction for 681K. This was a 2 bedroom brick and tile town house in st George street. This was again bought by the same trader who I met in (1). I walked away feeling sad, but determined that the next property I will put my mind and money at, I will definitely win at auction.
With this passing time, I have accumulated more savings, and by this time my budget has increased. Just yesterday another property I was interested in, was up for auction. I had visited the property atleast 3-5 times to ensure my self that this was the one for me. This was a 3 bedroom brick and tile house on a cross lease again in st george street in papatoetoe. Knowing that the property (2) above sold for 681K for 2 bedrooms, I had all the numbers done and prepared myself for the worst scenario. It came down towards the end between me and another couple, and the other couple outbid me to secure the property. Atleast I thought they did, then along came the same trader (1 and 2), and outbid the other two couples. I left sad again, and in tears, but this time with disgust and hate for this trader. How can she profess to help 1st home buyers when she is the one who is killing first home buyers dreams. I understand that this an investment strategy, and she is doing a great job at it. But it's not fair on us first home buyers who wish to pursue dreams, and so many other things along with buying a property.
The property (2) has been relisted on trademe with an asking price of 799K in the space of 3 short weeks (144a St George Street, Papatoetoe). She has not done anything in the property, just put her display furniture to enhance the appeal of the property. Nothing else.
I dont think the immigrants are ruining the property market. No, its our own very local friendly neighbors, and there is absolutely nothing we can do to stop them for breaking other peoples dreams and ambitions.!
I started with my first home search journey from April this year. My wife and I both work in the Auckland CBD so central auckland was a our preferred area of search initially. But it didnt take us too long to be pushed in to outer suburbs. We finally came to a more desirable location for us in Papatoetoe.
1) Our first home led us into a 2 bedroom brick and title in birdwood avenue listed with an asking price of 699K. This was a small 2 bedroom unit only, perhaps less than 100sqm. We loved the property right away, but 699K was too much of an asking price. The agent was a nice lady, she spoke to us in a very helpful manner and continued to explain that she was "helping first home buyers" so that they do not have to go through the nerve wrecking auction process. I will admit I was so in to her talk, she could have convinced me to buy if I had that kind of money initially. But coming back home, I did some research, and found out that the property was listed at auction just 1.5 months after this agent bought the property at auction. She bought it for 641K, and 1.5 months later she relisted it at 699K asking price. She sold that property successfully for 697K.
2) Just 3 weeks ago, a property in st George street, which I was interested in again, sold at auction for 681K. This was a 2 bedroom brick and tile town house in st George street. This was again bought by the same trader who I met in (1). I walked away feeling sad, but determined that the next property I will put my mind and money at, I will definitely win at auction.
With this passing time, I have accumulated more savings, and by this time my budget has increased. Just yesterday another property I was interested in, was up for auction. I had visited the property atleast 3-5 times to ensure my self that this was the one for me. This was a 3 bedroom brick and tile house on a cross lease again in st george street in papatoetoe. Knowing that the property (2) above sold for 681K for 2 bedrooms, I had all the numbers done and prepared myself for the worst scenario. It came down towards the end between me and another couple, and the other couple outbid me to secure the property. Atleast I thought they did, then along came the same trader (1 and 2), and outbid the other two couples. I left sad again, and in tears, but this time with disgust and hate for this trader. How can she profess to help 1st home buyers when she is the one who is killing first home buyers dreams. I understand that this an investment strategy, and she is doing a great job at it. But it's not fair on us first home buyers who wish to pursue dreams, and so many other things along with buying a property.
The property (2) has been relisted on trademe with an asking price of 799K in the space of 3 short weeks (144a St George Street, Papatoetoe). She has not done anything in the property, just put her display furniture to enhance the appeal of the property. Nothing else.
I dont think the immigrants are ruining the property market. No, its our own very local friendly neighbors, and there is absolutely nothing we can do to stop them for breaking other peoples dreams and ambitions.!
Comment