House Hunting

We rent at the moment, our house is a lovely three-bedroom two-storey home in Signature Estate in the suburb of Sanctuary Lakes, a western suburb of Melbourne. The house we live in is now for sale and it makes us a little sad, but also a little nervous. It’s time we finally buy a place of our own.

It means we’re really making the decision that we’ll be staying in Melbourne, which I suppose was never really a question. Melbourne is a great place and after three years here we’re happy to stay.

But there is a conundrum. Our house is for sale for $365,000 we’re now pre-approved for $300,000 because that is all we have asked for. We already have a home loan for a house in Sydney and don’t want to stretch ourselves too far. But I’m starting to wonder if $300,000 is going to get us a descent house.

Today we saw four houses via open house. Two were alright, but would need some work. Two were not nice at all, one of the two smelt really bad, the other looked to be missing whole parts of a wall and had a bathroom with floors that were probably in serious need of repair. One of the ok houses was too small, but the property looked good and the house was only $260,000. But it had a small lounge room and no dining room, we have a lot furniture.

So we’re not certain what to do. Borrow more, buy the house and stay where we are or keep looking around.

We saw one house, only from the outside, which looks promising. It’s at the end of road, right near the freeway. It’s also at the end of a schoolyard which is great cause when we’re at work the kids are at school and when we’re at home, school is out. It is also the ONLY house in that part of the street. It is the best placement even if there is some traffic noise you’d get used to it. We haven’t seen inside it so it could be a bust.

The other thing that is frustrating me at the moment is the way homes are priced. You can look at a home and love it and then see the price $280,000 to $330,000 a range of $50,000 which is pretty freaking huge and no home owner is going to take $280,000 for their home.

Why don’t home prices get listed like car prices, present it as, this is the house and this is the price for the house. I’m not into haggling and the fact that there is a possible movement of 50K is just madness. I just like to know how much a vendor wants, decided if I can or am willing to pay it and then pay or walk away. Surely it would be so much easier.

One house that we though was quite interesting, the one mentioned above all by itself, was taken off the market because of, as the sales person told us, a couple of thousand dollars. The owner knows what they want and no one has yet come to the party with the payment. But if you think the sales person is going to be honest with you and tell you what the owner wants you’d be sadly mistaken. When questioned he said “if you come in with a price of $290,000 the owner will take it”. He then when on to say “and offer of about $293,000 would secure the home”.

I’m thinking that after saying it was taken off the market over “a couple of thousand dollars” he should be better at providing an honest price. We know what our budget is, we don’t want to dance around. We just want to know how much it costs. It’s really not so hard.

2 Replies to “House Hunting”

  1. Hi James,
    I love your house in the Lakes! It is great place. I hope you guys don’t move too far away.
    I think that you can’t go wrong with a house in Sanctuary Lakes, it is so well sought after at the moment.
    Good Luck!

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