Hi all
Was talking to a young couple the other day and they were telling me they bought a property for $255000 a while ago just before the govt were about to make changes to the FHOG.
It was Bank valued recently at $210000 and the market seems to indicate that with a motivated buyer they may get $220000.
Obviously they are dissappointed.
When i asked them how they come to the decision to buy the reasons were given were:
Basically they rushed into buying.
Whilst i have some experience probably research and assessing whether a property is a bargain or great price is not my forte.
What insights could one give to a young couple venturing into the property market.
Where should they by looking to get a feel for the values of the areas they are looking in.
I guess a template or checklist to assess the property is not overpriced etc.
Regards
SG
Was talking to a young couple the other day and they were telling me they bought a property for $255000 a while ago just before the govt were about to make changes to the FHOG.
It was Bank valued recently at $210000 and the market seems to indicate that with a motivated buyer they may get $220000.
Obviously they are dissappointed.
When i asked them how they come to the decision to buy the reasons were given were:
- Sick of looking
- Felt rushed not to lose the FHOG
- Alot of interest so they signed up on the day
- only seen the property once
- No due dillegence done
Basically they rushed into buying.
Whilst i have some experience probably research and assessing whether a property is a bargain or great price is not my forte.
What insights could one give to a young couple venturing into the property market.
Where should they by looking to get a feel for the values of the areas they are looking in.
I guess a template or checklist to assess the property is not overpriced etc.
Regards
SG