Post to Facebook on 30/7/2018 at 1:43 AM
Commenting on “Melbourne market still up as buyers fight for blue-chip locations”
https://www.domain.com.au/news/melbourne-market-still-up-as-buyers-fight-for-bluechip-locations-20180729-h13a6x-755094/
Number Listed Auctions: 687
Number Reported Auctions: 507
Sold: 320
Withdrawn: 43
% Cleared: 58 %
I must be very thick. The report reckons the clearance rate is 58%, but I think is less than 50%.
There are far too much uncertainty at present, and buyers are in fact more cautious than before not to bid recklessly at auction.
A dated property can present a bigger headache than it is worth. Unless you have a proper building inspection to certify that it is in sound condition, you may be living in nightmare for years to come, and likely to cost more than you budgeted for in renovation or restoration.
If you are buying the first home, I do not advise you to buy a very dated home, even if you are very handy. During the first few years, you may feel the pinch in paying your mortgage, and involve in a lot of adjustment in your lifestyle.
For those who have the money, but they are still classified as first home buyers in Australia, think twice before signing the contract for that McMansion. Domestic maids are not around to help you to do the household chores, and the utility bills can be very expensive.
Get into the real estate market for your needs first. You must not make yourself a slave to your house.
Thank you for reading.
Commenting on “Melbourne market still up as buyers fight for blue-chip locations”
https://www.domain.com.au/news/melbourne-market-still-up-as-buyers-fight-for-bluechip-locations-20180729-h13a6x-755094/
Number Reported Auctions: 507
Sold: 320
Withdrawn: 43
% Cleared: 58 %
I must be very thick. The report reckons the clearance rate is 58%, but I think is less than 50%.
There are far too much uncertainty at present, and buyers are in fact more cautious than before not to bid recklessly at auction.
A dated property can present a bigger headache than it is worth. Unless you have a proper building inspection to certify that it is in sound condition, you may be living in nightmare for years to come, and likely to cost more than you budgeted for in renovation or restoration.
If you are buying the first home, I do not advise you to buy a very dated home, even if you are very handy. During the first few years, you may feel the pinch in paying your mortgage, and involve in a lot of adjustment in your lifestyle.
For those who have the money, but they are still classified as first home buyers in Australia, think twice before signing the contract for that McMansion. Domestic maids are not around to help you to do the household chores, and the utility bills can be very expensive.
Get into the real estate market for your needs first. You must not make yourself a slave to your house.
Thank you for reading.
