The one that got away...

I like this story ....as many moons ago I said to my then gf ...don't go on your OE (overseas experience) and buy a house instead...
Fast forward to today ...30+ yrs latter ...still renting.
(she asked her mother if she should buy and the mother said NO ...you spend all the money you have while you are young as when you are married the husband will provide and you will not be able to holiday ...enjoy yourself while you are you young)

ps we both got married but not to each other...she regretted this advice many times over!

 

Ouch... I feel your pain! All these examples remind me of a couple of friends' experiences. One in particular sold a terrace house in Richmond a long time ago for a house and bigger block of land in Fawkner for the equivalent price - both were about 70k then. Now look at the difference in terms of price...

More recently, another friend sold their large 3 bedroom Northern suburbs home in Thomastown in 2014 for under 400k, just before the boom cycle hit Melbourne's north. I was contemplating buying it, but didn't want the awkwardness of buying from a friend and again, didn't think highly of the area. Doh!!!!

 

Yeah it doesn't matter everyone learned from their experiences I too missed Maidstone Clayton and a few others had I bought would be 7 digits growth more combined

I think Melbourne is more alike to Sydney pushing out to the west. The only place way below what anyone can buy distance wise infrastructure wise is Werribee ATM. Won't be suprised every suburb 15kms would be million dollar soon. Just look at reservoir St. Albans all rising

 

I think I have shared this in another topic like this before but here it is again!
Purchased PPOR in Dulwich Hill in 2007. Sold it in 2011 for a decent profit (against Somersoft's advice !!). I was going to purchase again in the Sydney's east but couldn't find anything and then ended up going overseas. Came back to Australia 2 years later and found out i'd missed out on about $300k in growth :-/

In early 2011 I was just about to purchase a 2 bedroom apartment in Minto for $153k. I'd even exchanged contracts but pulled out at the last minute following a bad strata and B&P (retrospectively not enough to warrant it but I was young and scared haha). I don't think you can buy anything in Minto now for under $350k and it was cash flow positive even when interest rates were 7%!

I sometimes torture myself with these two examples but did have a great few years overseas including a year in New York- and having my cash tucked away in a savings account was VERY comforting especially when you get to New York and find out no one will rent to you because you're a foreigner and and you may need to pay a year's rent in advance....

 

I missed out on a beautiful little house in Seven Hills in 2013. The agent was quoting "low 400s" so I immediately offered $401k after the inspection which was rejected and countered by $410k. This was on a Saturday afternoon at about 6:00pm so I decided to take the Sunday to sit on it and called the agent on Monday morning to up my offer, only to be sold the property had sold for $405k the previous afternoon! Absolutely astounded that the agent hadn't called me to ask if I wanted to put in a higher offer and I would have paid up to $415k at that stage.

That one still hurts to this day as it's probably worth at least $600k now

 

Just goes to show if you want to the property just buy it !
You will not regret paying a few thousand more at that time a decade or two later

 

Regret not buying Bitcoin at $4. At the time I considered buying a few and would be pretty loaded now had I done it.

Also simar with Amazon shares a few years ago.

But oddly enough not property ... Yet.

 

I use to always drop/pick up my wife from Lidcombe station (live 15 mins away) due to the express trains into the CBD. On the way we always drove passed this place (9 New Street, Lidcombe, NSW 2141 - View Sold History & Research Property Values - realestate.com.au) thinking how great it'd be to live or have an IP 5 mins across from Lidcombe Station for the convenience. It eventually went up for sale but I couldn't justify it's cost at the time and was already focused on getting PPOR paid down (the old school way, lol).

2010: sold for $440k
2017: sold for $950k

Ah well, I guess many people can apply that scenario to most Sydney properties back in the day.