Reality check?
We’ve been looking at houses for a while on and off for about 2 years now and we’ve been quickly priced out of the market. We’re wanting something with a little bit of land and a little bit of room compared to our smaller house now.
We have a max borrowing capacity of 1mil as I am currently on maternity leave, returning back to work in September (this will increase our borrowing capacity. But we’re unsure if we want to take on more debt)
We found a house we like and were considering putting a offer in. It’s been on the market for 4 weeks and they’re asking offers above 1.1 mil. We spoke to the agent at the open home and they said we could just put an offer in and see.
We’re considering going in at 950k and expecting them to then it down
property average online value is 1.08
Currently empty.
They paid $385,000 - have done work to the land but no inside changes
Are we wasting their time?
Are we looking at a terrible time to buy?
It’s genuinely what we can afford and what we’d get approved with in our current situation. We would be able to sell our house (as the realestate has said it’s an extremely desirable location, size and in a good price range. It’s suitable for first home, investment or an older couple downsizing)