Bought somewhere wish we haven't

just remember two things

1. buying in and out costs big $$ stamp duty, agents fees etc. etc.

2. you want to take advantage of the rising prices, but by buying in, you also suffer from the affects of rising prices, its a catch 22 unfortunatly
 
I believe you're better off getting rid of a dog property during an upswing as you can then put the money to use elsewhere a d hopefully see some gains. Also, in a flatter market it can be harder to get rid of difficult properties as buyers have more choice.
 
Hi, i need a bit of moral support and advice:(

We just bought a place, a really nice unit, great grounds, swimming pool etc, it's in a suburb one from Dulwich hill (hurlstone park), however with this crazy market we only saw it once, made an offer, pretty much signed the same day (agent kept saying loads of buyers interested etc usual stuff), it's our first house and we've been looking in eastern suburbs for ages, just accidentally found this place, not in an area we've ever been really but took a punt. Long story short we've got a rail line running at the back of our house. I reckon we've overpaid but mainly concerned about re-sell value as it's a small townhouse so we'll need to upgrade in a few years. Any ideas what can we do to make sure we do sell? ie add double glazing? Is there a chance that council or rail lines would add a noise reduction wall in between rail and our house? We're separated by a lane and a tree area, i'd say we're about 10-20m from the line but freight trains can be a nuisance (don't care so much about electrical passenger trains they hardly make any noise).

Thanks for your advice! i know we should have done more research but we're naive first time buyers, that's my excuse:)

I know dulwich hill is going up so hopefully it'll catch up on the hurstone park as well... We paid 10-14% more than what units in this block went in 2011-2012

I live a couple hundred metres from Marrickville train station which is on the same freight line. They are not that bad to be honest. At first I was pretty worried but like anywhere with noise you get used to it. Have prices moved in the area regardless? Yes. So what is to stop that happening again. You have bought in a good suburb so you have alteast made 1 good decision.
 
2012 prices are not the same as 2014 prices. If you paid 10 to 14% of what it costs back then, isn't that market price for 2014?

I bought a PPOR recently and paid top dollar as well, but I was going to live in it for a few years so I didn't mind.

My issue is that I hear walking and a lot of noise upstairs from the main bedroom even at 10pm at night. I don't even know if it?s the floor above or the one above to the left who has floor boards. It bloody annoying and a bigger issue that over paying I reckon.

I even went upstairs and couldn't find the culprit.
 
I think i'm just being silly. I mean properties on the main roads and on the flight paths sell as hot cakes and what's rail line compared to that.
It's a great area and i'm enjoying it but as the family grows we'll need an extra bedroom that's the thought behind upgrading...
 
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MightyWill, you can talk to strata, they might have a by low on that ie if someone has installed floor boards that are noisy they need to cover with carpets etc...
 
The bad news is that there is a townhouse for sale in our complex now in similar renovated condition (maybe with a slightly older kitchen and bathroom) and the price guide is the same that we paid 9 months ago. Considering market has moved 10% since December it's not great.

The place currently for sale will sell much higher than quoted range. Don't worry about it.
 
The place currently for sale will sell much higher than quoted range. Don't worry about it.

While I don't nesscarily agree with the above, the first step in my opinion will be to attend the auction of the comparable place and see what it sells for.

This will atleast give you a number to work with when trying to decide how to proceed.
 
If its the block I'm thinking about (which is clearly visible as the train pulls into Hurlstone Park station, then just wait.

The place in the complex is for auction. Just sit back wait first. You might be pleasantly surprised :)
 
I believe you're better off getting rid of a dog property during an upswing as you can then put the money to use elsewhere a i'd hopefully see some gains. Also, in a flatter market it can be harder to get rid of difficult properties as buyers have more choice.

I agree sanj :)

Cheers
 
Yup, auction price ranges are always at least 10% below what they expect in my experiences. Stop agonizing about everything, relax and enjoy your first place. You'll look back on it and think it was a great purchase.
 
The bad news is that there is a unit for sale in our complex now in similar renovated condition (maybe with a slightly older kitchen and bathroom) and the price guide is the same that we paid 9 months ago. Considering market has moved 10% since December it's not great.

Buy it (at a very low price)! Then you average your price down across two properties so you won't feel as bad :D

The Y-man
 
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