Really struggling to find a home... Anyone else?

Discussion in 'The Buying & Selling Process' started by SMsearching, 17th Jun, 2019.

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  1. SMsearching

    SMsearching New Member

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    17th Jun, 2019
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    Location:
    Melbourne
    Hi there, my partner and I are currently looking to buy our first home and it's proving extremely difficult. Is anyone feeling it too? We are looking for home inner west Melbourne (West Footscray, Maidstone, Yarraville, Seddon, Kingsville, spotswood) up to the 900k mark.

    Weve been looking for close to a year now and have lost on a few auctions that we are now definitely regretting.. Any advice on what to do? Or is patience our best bet atm? Or is anyone looking to sell their home?
     
  2. Trainee

    Trainee Well-Known Member

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    Your avoiding the most obvious conclusion. Raise your budget. Or lower your expectations.
     
  3. jazzsidana

    jazzsidana Well-Known Member

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    It's really a buyers market at this point with hardly any competition. No reason not to be able to secure right kind of property but good to have realistic expectations I'll say!

    Cheers,
     
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  4. KateAshmor

    KateAshmor Victorian Conveyancing Lawyer Business Member

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    Melbourne
    Perhaps someone else (an experienced friend/ colleague) could bid for you at auction. Or you could talk to local agents about unadvertised properties. Or perhaps try a buyer’s advocate. :D
     
  5. Dan Wood

    Dan Wood Well-Known Member

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    I have a feeling that expectations are way to high..

    I get it almost a million for a house, but you can't expect all the bells and whistles just because it's at a certain price point.
     
  6. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    Objectively, if one hasnt found a well priced home in the market of the last 12 mths........ the chance of finding one in the next 12 is likely lower....................... unless we have an economic knock.

    have had this same sort of concern from clients in Sydney ( where I believe the cycle is ahead of Melbourne), so your mindset isnt unique at all.

    Lexus at Camry price, and/or Goldilocks Syndrome is much more common at the moment with the bearish media ( and in part the bearish reality) over the last 18 mths or so, with the buyer seller Vacuum still very much in tact in Melb, but starting to leak towards normal in Sydney

    ta
    rolf
     
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  7. Marg4000

    Marg4000 Well-Known Member

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    Perhaps you are joking?

    If you can’t find a house in Melbourne in your price range, you are looking in the wrong places.

    Like most, you may have to settle for what you can afford, not what you want. It’s a first home, few people get their dream home for their first purchase.

    Or just rent in your chosen suburb forever.
    Marg
     
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  8. Scott No Mates

    Scott No Mates Well-Known Member

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    I only got 4 pages when I searched these areas for houses sub-$900k. Everything from 2 bedroom character homes through to rundown 4 bedders.

    Nope, nothing in this price range.