r/AusPropertyChat

Hello!

Wondering if anyone has tips on wording to use and not to use, and/or how to write this clause to cover myself completely, if report comes back unsatisfactory and I want to back out and get my deposit back!

I’m in Melbourne! And buying an apartment, where I did see a small area in bottom corner of wall near a window in the lounge room that looks possibly soggy and crumbling… I could see a little hole through the plaster too. Might just be minor but could also be major!!

Help, I really like this place haha.

Thanks!!

An update from this post a couple of days ago.

I offered $410, agent asked for $420, I said $415 is my best offer and it was accepted. I could have offered lower considering how long the place has been on the market for, but I am pretty happy with the price to be honest and proud of myself. I think $415 for a two bedder in Brunswick is pretty good.

Contracts were signed Thursday, B&P booked for yesterday, confirmed with myself and the agent. I showed up to be there for 20min as I wanted to see the place again, inspector was there and we were having a good chit chat and thought, where the hell is the agent? He called her, she answered, he asked how far away she was. She proceeded to swear, saying “fuck I’m such a fucking idiot I forgot fuck I’m an idiot I didn’t realise it was confirmed”… both the inspector and I were utterly bamboozled at how unprofessional she was. It was unhinged. She kept trying to ask the inspector to stay there so she could be there in 45min. He was very firm that he has another job after and I want to be at the inspection and had to leave soon. She continued to swear etc etc and we ended up agreeing to Monday instead.

After the phone call ended the inspector said he has never encountered such an unprofessional real estate agent and that she was completely bullshitting because automated confirmation text AND emails are sent out. He could not believe what had happened and I was extremely angry and frustrated as I’d planned my day around the inspection and just wanted to know for sure whether there were any major defects that would require me to pull out of the sale. Inspector thinks she may have been trying to drag it out beyond the cooling off period or she didn’t want me there lol.

Naturally I panicked about this because I do not trust this woman to show up on Monday, but my broker reassured me that because my offer was conditional (subject to finance and B&P) I can still pull out even if the cooling off period lapses (can anyone confirm this?).

Anyway, once again it has confirmed that the reason this place has been on the market for so long is the utterly incompetent moronic agent. Even the inspector said he’s inspected several apartments in the building before and that they are well built and he doesn’t anticipate any major issues. I have researched thoroughly for a month and I cannot find anything that is off-putting aside from the agent and her behaviour and false advertising of the property. It is hard to not let it get to me when buying my first home is already a stressful experience. I wish she were not making it worse!!!! Does this warrant a complaint to the REIV once everything is settled?

I am not talking excessive partying. Those days are long gone.

But I have a feeling, any extra $ I would have after monthly repayment, I would be inclined to push it towards paying down principal.

Haven't bought a house yet, and curious to know how things changed for you ​when you bought your first home.

Cheers

Is there an Australian reddit group specifically for buyer's remorse!?!

I am having a really bad one! and I need to vent in the right forum. I wish I did not buy, and I can't sell right now without a loss because I paid a premium on this property :(

Advice or warnings? We are low income and not able to borrow the amount we would need to buy land and build a home. Same with an existing house.

But I have saved a decent chunk of money and I may be able to purchase a plot of land- is this a stupid idea to buy land and sit on it until we can afford to build ?

I understand costs are expected such as rates and we would need to ensure the land could stay as is indefinitely with no time constraints to build.

We were so close to building a home a few years ago until borrowing terms changed and we were unable to afford it, then every plot of land in our area went up $50k - $80k + and was sold off. I guess the fear of missing out again is getting to me.

Curious what happens if the purchaser is, say, $5k short at settlement. Can the title be transferred normally and the purchaser be left with a bill for the remaining stamp duty?

Has anyone experienced something similar?

If you're within an hour of a city, are you commuting regularly to it? Did you buy a small acreage or a suburban house in a regional town. Do you miss the conveniences of the big city? Have you felt isolated from your friends and family?

I am trying to decide if I follow through on purchasing a block of land 1 hour out of a major city near a small country town. There are the basic amenities - IGA, hardware store, doctors, school, daycare, pub, and not much else at this stage. 1 hectare (2.5 acres). Main selling points for me were size of land (I cant stand the blocks they sell these days - 500k for 220 square metres?) the price (440k) and the ability to do basically what I wanted, when I wanted with very little resticition on timeframe or house type.

Going rural was always a flight of fantasy for me. sort of like - oh that would be nice - with no real thoughts about committing to the idea. I always imagined I'd be in the suburbs somewhere but unfortunately not on my income and not in this market.

So Im looking to hear what other people found when they moved away from the big city and if they regretted it or not. What was something they found out that they never thought of. what would you say to someone considering the idea.

I swing back and forth about loving the idea and freedom and the thought of raising a family there and building a big house one day - and crying over the distance, the commitment to a mortgage for a dream i may realise one day and the fear of isolation.

Hey there! Has ANYONE ever had an offer accepted subject to finance AND b&p??

Lol, might be a long shot

I'm a FHB keen on a property going to auction many weeks away but want to put in a good offer.

I can't do unconditional as I will not risk my deposit.

Am I dreaming?

I was on realestate.com.au and came across a house and land package that had only been added less than '20 hours ago'.

I called them up next day and they say that property was actually sold long ago but asked if they could grab my details and they'll check (They were AFK).

At the same time he recommended that I check out another property they had online. He messages me later confirming the property i was enquiring for had sold already. He then also reminded me of the completely irrelevant property I was not interested in.

I felt like I was roped in on the good value property, to then switch sell me another property they had in their inventory that probably wasn't getting many bites?

TL:DR felt bait and switched from great value property that was never actually on the market, for a property they are struggling to sell/get my data.

Most mortgage calculators didn’t give me the insights I needed, so I built something that models real-life scenarios instead of just basic extra repayments. The tool to help pay off a mortgage faster and understand your financial position. With a focus on families and maternity leave.

What it does:

• Model extra repayments and see how much interest you save
• Factor in offset accounts
• Simulate parental leave and income changes
• Project your future position (e.g. when kids reach school age)

Show how your loan actually plays out over time

Goal:

Make it easier to optimise your mortgage and understand your financial position in real-life situations.

You can:

• Use the “Load Example Scenario” dropdown to test it quickly
• Or enter your own numbers

Nothing is saved or sent anywhere. Everything runs locally in your browser and can be shared via a link your partner.

Would love some feedback. Any ideas or thoughts would be really appreciated. Still fairly new and being tested.

mortgageforecast.com.au

https://preview.redd.it/u1m84lsdubug1.png?width=1500&format=png&auto=webp&s=938e6edfd8a90366c46205e125c498b23ea2aa09

Hey guys, first home buyer here. My partner and I run our own business and it has been growing well. Our family are kind enough to let us stay with them for the next two years or so.

We have found our dream block of land for 1.8m, it is an off the plan block of a residential site being subdivided. Settlement won’t be until the end of the year or early next, so we have a good time to continue to save more of a deposit and increase our business income.

Do you know of any banks that do land only loans for first home buyers ? I heard some require you to get approved for land plus have a confirmed builder quote. But our intention is to get the loan and keep saving in 2027 and paying interest only and then building EOFY 2027 as our serviceability will go up enough to service a 1m build on top of the land loan. (Hopefully).

Worst case, if we completely miss that target, we thought of property prices continue to go up we could sell the land.

Any advice or tips would be appreciated!

[supprimé]

I am a first home owner and looking at buying an apartment on Carilla Street. I am not from the area so would appreciate any feedback or insights about living on that street or Burwood in general. I will be taking the train to the city for work. Thank you.

Apparently you need a 30-40% deposit on a rural zoned property, are you really saving that to buy? Is there something I’m missing?

Can’t use the 5% deposit scheme on rural homes but then the jump to 30-40% deposit is crazy and feels unattainable..

Hello I am a first home buyer looking to buy my first home in the South East of Melbourne. My budget is around 700k max. I am buying as a single person and already have my pre-approval sorted and I have been looking at properties around Narre Warren and Berwick. After a few inspections I realise that for my budget it's either a townhouse or a small free standing house in a block of around 250m2 is what I can afford. I want to purchase something that would give me the best capital growth in 5-10 years. Most people suggest buying an old house with a bigger land size. But I will be an owner occupier and I want a place that is relatively modern and low maintenance as well since it will be just me living there with occasional visits from my parents and brother. I ve been looking at the below two properties

2/5 Fiona Court, Narre Warren, Vic 3805 https://www.realestate.com.au/property-townhouse-vic-narre+warren-148524348?campaignType=external&campaignChannel=other&campaignSource=share\_link&campaignName=share\_link

30 Lexington Parade, Berwick, Vic 3806 https://www.realestate.com.au/property-house-vic-berwick-150851436?campaignType=external&campaignChannel=other&campaignSource=share\_link&campaignName=share\_link

The one in Narre Warren is a townhouse but pretty close to the train station and Westfield fountain gate. The train station is a huge plus for me as I need to go to the city for work. But it's a townhouse with body corp.

The one in Berwick, when I say Berwick it's pretty much in Clyde North Berwick edge is a house in 238m2 land. but it's further away and you need to take a bus to the train station and drive for groceries. But it is a house and not a town house.

What would be the better choice out of these two for better capital growth ? And is it better to buy a house even in a small land away from infrastructure than to buy a townhouse with body corp close to infrastructure?

Hi,

I’m seeking some advice about my property.

I own a home just outside of Brisbane- I bought my ex out after a property settlement about one year ago. My life plans and lifestyle have also changed a lot too as a result.

I have a big mortgage (about $610K) which is bigger than I would comfortably agree to in general but the separation was a really stressful time so it was a bit of a panic agreement.

Anyway, it’s one year in and I cannot afford to stay in the house on my own and rent out some of the house to family. I don’t feel I can keep house sharing, it’s really frustrating and starting to impact my MH.

The options I am considering are to either:

- Downsize and purchase a small apartment closer to the city which would be affordable on my own and let me enjoy my life a bit more

- Rentvest and again move into an apartment on my own.

My worry about rent vesting is that because I have such a large mortgage, the approximate rental income will fall about $150 short of the mortgage repayments every week.

The good news is that the house has increased in value like crazy and I have about $300K of equity.

Any advice would be amazing- long term financial decisions aren’t my greatest strength tbh.

We've bought our new home with a bridging loan and are trying desperately to sell our first apartment. We just keep getting massively lowballed on all our offers and keep thinking we will regret not taking them. I know that the market has changed, but are other apartment owners noticing that the popularity of apartment living has immensely dwindled?

I just don't understand why people come to open homes knowing the price range and offer $40,000 below the lowest range. We are so scared we won't sell in time.

Curious about opinions.

The property is a large apartment in the inner east of Melbourne. It’s beautiful, but will take a while to sell because it lacks lift access - stairs only. Body Corp is fairly high (7k or so a year).

Going through a divorce, the ex wants to rent the place out for a year before selling because of the current market dip. I’m not sure that is a great idea. I think that with the costs of renting the place out, body corp fees and so on, the costs of holding will eat into whatever more we get for it if the market picks up in 12 months. Rental income would only just cover the mortgage, then all the fees would be subtracted from that, plus we still have to pay rates, body corp etc. and I have to pay rent elsewhere in the meantime.

What do others think? If we don’t HAVE to sell will it actually be worth holding onto property for 12 months in the hope the market picks up? Do we think it will pick up THAT much?