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Maybe for some people just the prospect of owning their own home to put a roof over the head of their family is enough. The Aussie dream is to own your own home and who are you to criticise people for chasing this dream? Not everyone buys homes as investment properties you yuppie ****.

Totally missed my point. Perhaps I should've been clearer.

Not saying it has to be an investment property. I've just seen a trend of many people choosing to "build their own" house (that they've selected from the Simmonds homes brochure) in a newly developed urban sprawl suburb.

This fits in with the boogan behaviour being described on this website as it:

  1. Allows them to get the larger 1st home buyers grant because they're building a new property. Free money they think. Too bad everyone gets this free money, so the developers just add on the first home buyers grant to the pricce.
  2. The excitement of living in a brand new home. Apparently an older house doesn't cut the mustard. Perhaps the plasma doesn't look as nice on the wall in an older house?

I've got nothing against people wanting to buy a house for their family to live in, and not looking at it as an investment. But surely the latter has to be at least considered when making this kind of decision?

Personally, I'd much rather buy an older house in an established suburb, that I know is going to hold it's value, so that one day, in some unforseen circumstances, if I do have to sell it, I know that the mortgage is going to be less than the value of the house, and it's going to be worth more than it was previously.

These McMansions are usually in subrubs with little to no infrastructure in them, one of the things that strongly influences house prices. If the market does hit a downturn at some stage, these are the areas that are going to be hit the hardest, no doubt...
 

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