Who here has overpaid for a ppor knowingly?

Ppor is a very personal choice, it's something you become attached too, unlike an investment property which is all about the numbers.
Curious who has paid over the value just to secure it? And are you still happy that you did?
And by how much did you go over for the poll.

 

Haha - hard to know until you move in

 

Like to also see a poll on investment properties too ...to see if it differs

 

I reckon ppor would have more people overpaying, good to see.

 

It will be interesting to see if the heart controls the wallet or the head!

 

Interesting that someone has already voted spending 100k+
Would be interested to know if your still happy about it? Must have been something special

 

We underpaid for ours

 

So far I haven't. My current one I underpaid by about 20%. Looking to upgrade now and prepared to pay overs to get what I want if I have to. Probably around 10-20%. The next one we will be looking to stay there for 20 years minimum so I doubt paying a bit more is going to be an issue in the long run.

 

Still looking for my PPOR, but I know I'll overpay. I'm in Sydney

 

I overpaid too by about 10 lira on a multi-million dollar ppor. @Barny - what units are we using $, %??

 

Current one I couldn't tell you, I don't know if it was overpriced but it was what we were happy to pay for it and it was pre the last boom so i'm happy. It's in a block of 8 townhouses and the lowest price anyone paid was 5 grand less than we did, some people paid more than we did.

Future one, I think we pretty much paid what it's worth, I can't "know" that for certain as it's only worth what someone will pay for it but I reckon it's pretty spot on, it was close to my own pre auction valuation.

 

according to the valuer we overpaid by $30k but according other sales we were pretty spot on ( it was the cheapest house sold in the area for years)

 

Any currency is fine. Convert it to Aussie

 

According to other sales at that time i think is a better indication of what it's worth. I find valuations are always off.

 

I haven’t yet but I assume I will as the market is hot in the inner north where I’m looking. So I guess I’m ‘willing’ to over pay by 100k if it’s something that I really want as a PPOR.

 

Kinda goes against everything we do when purchasing investment propertys.

 

When do you move in? Feedback 3 months after please.

 

March - will do. But confident we didn't pay too much.

 

I know right. For me though the reason I buy investment properties is so I can sell them later and upgrade my PPOR. I’m not a buy and hold investor, maybe I’m not an investor at all actually. #crisisofcharacter

 

We only paid 10k over. Which at the time was a stretch for us with my wife almost 9 months pregnant (with our first child) on auction day and interest rates at almost 9% being 1k per week in mortgage repayments, it was pretty stressful. Glad we did in the end because if it were today there's no way we'd be able to afford it.