The off topic thread 4.0

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Cruyff14

TheBrownDog
Aug 16, 2011
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Because, at the time we were living with my parents. Their house is not big, and we were pretty much confined to our room. It was taking a strain on our relationship.

We didn't want to rent, and needed to get out of there. We didn't have enough of a deposit to buy a house, so we thought we'd get an apartment. And buying an asset is never a bad thing. So we took the plunge and got our feet on the property ladder.

We want children in the next few years, so we are upsizing, and plan on being there for the next 20-30 years.

We will keep the apartment as a rental - provided we can get renters in there - and as long as we can afford it. And if we can't, we'll sell it. The great news for us is that my cousin wants to rent it from us for a few years, as we're in the zone for a very good school in the area, and her daughter will then be eligible.
 

SM

Bigfooty Legend
Aug 3, 2008
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Because, at the time we were living with my parents. Their house is not big, and we were pretty much confined to our room. It was taking a strain on our relationship.

We didn't want to rent, and needed to get out of there. We didn't have enough of a deposit to buy a house, so we thought we'd get an apartment. And buying an asset is never a bad thing. So we took the plunge and got our feet on the property ladder.

We want children in the next few years, so we are upsizing, and plan on being there for the next 20-30 years.

We will keep the apartment as a rental - provided we can get renters in there - and as long as we can afford it. And if we can't, we'll sell it. The great news for us is that my cousin wants to rent it from us for a few years, as we're in the zone for a very good school in the area, and her daughter will then be eligible.
Lol sorry I think you've completely misinterpreted my question.

I'm just asking out of curiosity about why you bought off the plan which would have meant waiting ages for it to be built when you could have bought an affordable apartment that you were able to move into in 6 weeks?

Personally if I'd sunk the time and patience into buying off the plan I'd want to be living there a fair while or else it feels like wasted time.

But fair enough keeping it as a rental, sounds like a good plan.

Funnily enough just came out of a work meeting where the affordability of our low cost builds was talked up, pretty incredible what you can get from a new build.
 

Cruyff14

TheBrownDog
Aug 16, 2011
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Lol sorry I think you've completely misinterpreted my question.

I'm just asking out of curiosity about why you bought off the plan which would have meant waiting ages for it to be built when you could have bought an affordable apartment that you were able to move into in 6 weeks?

Personally if I'd sunk the time and patience into buying off the plan I'd want to be living there a fair while or else it feels like wasted time.

But fair enough keeping it as a rental, sounds like a good plan.

Funnily enough just came out of a work meeting where the affordability of our low cost builds was talked up, pretty incredible what you can get from a new build.
Oh.

Nah, couldn't have bought something we wanted/happy with in an area that suited us. We would have needed to save more etc and no chance we could have got something in that time frame.

It's just funny what happens with life. We'll have been there nearly four years by the time we move out if all goes to plan. We've had great times there. I proposed at home, and it will always hold sentimental value because of that. It was the first place we bought and so much has happened since we purchased. Promotions, change of jobs, overseas trips, getting married etc. All significant milestones to look back on.

Yeah, keeping it as a rental is the ideal scenario. If we can't, we can't. We'd sell it, but it would be the best thing to do if it got to that point. We've earnt equity on it. And we're proud of what we have achieved while we've been in there.

Absolutely. We've gone with a volume builder - Carlisle Homes - the biggest in Melbourne, and while their base prices are higher than others, their inclusions list is great. We're getting double glazed windows, air con, heating, alarm, dishwasher, wine rack, flooring, Caesarstone bench tops and an upgraded electrical package.

We're adding a bit more on. And while it's costly, it's so exciting - and rewarding - to go through this process knowing we got here from hard work.

I guess though, the housing market between Melbourne and Sydney are vastly different. So things may differ a bit I'd imagine.
 

SM

Bigfooty Legend
Aug 3, 2008
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Oh.

Nah, couldn't have bought something we wanted/happy with in an area that suited us. We would have needed to save more etc and no chance we could have got something in that time frame.

It's just funny what happens with life. We'll have been there nearly four years by the time we move out if all goes to plan. We've had great times there. I proposed at home, and it will always hold sentimental value because of that. It was the first place we bought and so much has happened since we purchased. Promotions, change of jobs, overseas trips, getting married etc. All significant milestones to look back on.

Yeah, keeping it as a rental is the ideal scenario. If we can't, we can't. We'd sell it, but it would be the best thing to do if it got to that point. We've earnt equity on it. And we're proud of what we have achieved while we've been in there.

Absolutely. We've gone with a volume builder - Carlisle Homes - the biggest in Melbourne, and while their base prices are higher than others, their inclusions list is great. We're getting double glazed windows, air con, heating, alarm, dishwasher, wine rack, flooring, Caesarstone bench tops and an upgraded electrical package.

We're adding a bit more on. And while it's costly, it's so exciting - and rewarding - to go through this process knowing we got here from hard work.

I guess though, the housing market between Melbourne and Sydney are vastly different. So things may differ a bit I'd imagine.
Not that different, they're growing at just about the same rate at the moment.

Sounds like exciting times ahead!
 
Mar 29, 2010
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Absolutely. We've gone with a volume builder - Carlisle Homes - the biggest in Melbourne, and while their base prices are higher than others, their inclusions list is great. We're getting double glazed windows, air con, heating, alarm, dishwasher, wine rack, flooring, Caesarstone bench tops and an upgraded electrical package.

We're adding a bit more on. And while it's costly, it's so exciting - and rewarding - to go through this process knowing we got here from hard work.
Just on this, WiFi is s**t so I highly recommend getting data points installed too.
 

Cruyff14

TheBrownDog
Aug 16, 2011
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Not that different, they're growing at just about the same rate at the moment.

Sounds like exciting times ahead!
Oh interesting.

Yeah, it's been a massive year.

Just on this, WiFi is s**t so I highly recommend getting data points installed too.
Great, this is very handy to know. We're gonna add extra power points too.

What do you mean though, it's s**t?
 
Mar 29, 2010
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Oh interesting.

Yeah, it's been a massive year.


Great, this is very handy to know. We're gonna add extra power points too.

What do you mean though, it's s**t?
Choppy, easily interfered with. A wall for example can turn a 4 bar connection into a 1 bar connection. Your fridge, microwave, everything can interfere with it and it's just slower than a wired connection. Always try and get a wired connection where possible..

Eg. I got one put in all my bedrooms, especially the kids as they will no doubt have computers when their older and cabled connection is going to be far superior than a wireless one, especially where my router is and where the bedrooms are. Smart TVs will all have a ethernet port, far superior for streaming etc, especially 4k.
 

glenferry23

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Apr 26, 2010
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Lol sorry I think you've completely misinterpreted my question.

I'm just asking out of curiosity about why you bought off the plan which would have meant waiting ages for it to be built when you could have bought an affordable apartment that you were able to move into in 6 weeks?

Personally if I'd sunk the time and patience into buying off the plan I'd want to be living there a fair while or else it feels like wasted time.

But fair enough keeping it as a rental, sounds like a good plan.

Funnily enough just came out of a work meeting where the affordability of our low cost builds was talked up, pretty incredible what you can get from a new build.
The stamp duty savings are quite significant when buying off the plan, can only imagine how much money Cruyff has saved/earned by purchasing that way and then living at home (whilst earning two incomes) whilst it was being built.
 

Cruyff14

TheBrownDog
Aug 16, 2011
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The stamp duty savings are quite significant when buying off the plan, can only imagine how much money Cruyff has saved/earned by purchasing that way and then living at home (whilst earning two incomes) whilst it was being built.
Unfortunately we had to pay LMI as we borrowed more than 80% so our SD was virtually done there.

But at that point, my wife and I were both earning significantly less than we are now, and we were saving $5000 a month living with my parents. Definitely helped us a lot being able to stay at home during the build.
 

SM

Bigfooty Legend
Aug 3, 2008
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The stamp duty savings are quite significant when buying off the plan, can only imagine how much money Cruyff has saved/earned by purchasing that way and then living at home (whilst earning two incomes) whilst it was being built.
That's a fair point, I guess I was thinking more from the time sunk into a property.
 

glenferry23

Brownlow Medallist
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Like anything , it has its pros and cons. Buying off the plan means you’re at the mercy of the developer and have to wait and deal with all sorts of delays because your deposit is already tied up.

But you save a lot on stamp duty and in Cruyff’s case, keep earning saving during that period. Which then gives a head a start into acquiring that second property earlier than anticipated.
 

SM

Bigfooty Legend
Aug 3, 2008
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Like anything , it has its pros and cons. Buying off the plan means you’re at the mercy of the developer and have to wait and deal with all sorts of delays because your deposit is already tied up.

But you save a lot on stamp duty and in Cruyff’s case, keep earning saving during that period. Which then gives a head a start into acquiring that second property earlier than anticipated.
Yeah, I just know if I went through all the hassle of dealing with developers and delays and issues, etc. I wouldn't be rushing back into doing it a second time!
 

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