My dream PPOR is for sale by auction - and I can't afford to buy ...

D

Debt Junkie

Every day for four years I looked at this house on the way to uni and thought how gorgeous it was. I love St Lucia. And it's the nice part of St Lucia - ie, not overly studented.

http://www.realestate.com.au/
Property ID : 104343866

(Sorry about not providing a direct url - I didn't want to create a post was 18 inches wide ...)

Now it's for auction in under a week and there's no way I can afford it. Sigh.

I actually love the house I live in now, but it's not so easy to give up the house I daydreamed about for years ... gotta focus on why my current PPOR is more suited to me.

This must have happened to others? What did you do?

DJ
 
Our first house was a "landmark" house on a prominent ridge. It was lovely to live in and we planned to live there forever.

Moving was quite a decision, but the proposed parallel runway was the decider for us.

Anyway, after moving to a nice house in a really desirable street, we spent a few years wondering if we would every buy another "landmark" house. Each time one came up in our suburb we would do our sums and work out that if we sold our IPs and still borrowed a "normal" housing loan, we could do it.

We actually did try to buy two others, but each time missed out, which was a painful thing, but only for a short time. Couldn't care less now and still drive past these houses each day and think "what a lovely house" but don't wish I was there.... that would be torture.

Each time, we would have sold our IPs to buy. Many others have come on the market and we have decided against them. Having one really beautiful house does not compare to the feeling that if hubby wanted to chuck his job we could coast for a while. It also meant giving up our future income stream.

Now we have a very nice house in a good street. I still look at the expensive landmark houses that come up, but it is an easy choice really. It is not like we are living in a dogbox.

The income stream is looking better and better and the "need" to live in a gorgeous house is much less strong than it used to be. I think we were spoiled by our first house.

Wylie

PS I think the St Lucia house is gorgeous too. I would be very tempted too, but think of the bigger picture.
 
I think I am too involved in property...it has made be numb. It's business to me. Sorry I have no desire towrads that house at all. To me location is everything and I wouldn't want to live in St Lucia. I really love the Southside. I also prefer new houses or renovated queenslanders.

It would make a great IP though being close to the Uni.
 
I love that style of architecture preferring character houses to the fugly McMansion or cubist styles that are so prevalent today. Wylie, your landmark house wouldn't be in Percival Terrace would it? I am in love with one or two "nanna" houses in that street.

I wouldn't want to live in St Lucia either - like Sue, I'm a southside girl.
 
sue78 said:
I think I am too involved in property...it has made be numb. It's business to me.
Click to expand...

Sue,

I think that's a bit sad. I can understand that you may not like this particular house, but there are so many houses that have character and are beautifully designed and crated (St Lucia is full of them). I love good architecture and would happily pay a premium for it.

As for this house being an IP, even if you could rent it out by the room to students I don't think the yield would be great (DJ, what do you reckon it would go for, $1.5M?) so you'd be holding for growth.

John.
 
I have very fond memories of St Lucia - lived there on and off for five years, mostly in student dumps :D It would absolutely kill me to buy this place as an IP and rent it out to students! Sigh.

I think I considered selling up everything (IPs & PPOR) for a fraction of a second before discarding the idea ... I have to agree with you Wylie, the big picture is more important, and I need to know that I too, can just dump the job and walk away if need be ... (not the case yet, but maybe soon!)

St Lucia's the only other place in Brisbane I'd want to live ... apart from Brissie's south-west, that is, which is where I am now, and probably where I'll stay.

Maybe, years from now, I'll have enough cash to consider it, but I doubt if I'd do it even then ... like I said, it's just a dream, and one whose time to fade away has come!

DJ
 
Debt Junkie said:
... like I said, it's just a dream, and one whose time to fade away has come!
Click to expand...

Well that's just crap :eek: :D

What's the use of dreams if you just let them fade away?

A while ago I found my 'retirement property' - a place in the Tassie wilderness, just what I have always dreamed about owning. I'm not in a position to buy it, nor would I want to at the moment since I'm still trying to accumulate growth assets. But I've still got a picture of it on my notice board and that dream as a motivation for what I am doing. Sure, I may not buy this exact property, but as soon as I'm financially free and in a position to buy a property like it I'll be out of here in a flash :cool:

John.
 
God no! It's not like that!

It's more like my goals and perspectives have changed as I've gained more life experience.

The house is still gorgeous, but no longer really suited to me - but the dream is going to linger a bit beyond it's useful life. Then it's going to go down the path of previous dreams that I've grown out of ... like the dream to be a neurosurgeon, cat burglar (in really cool black gear:D ), international spy! etc.

I think I've a better idea of what makes me happy, and it's what I have now.

My dream now is to be left alone by the world, and to not have to work, and have the freedom to do what I want, when I want etc

And there's no way I'm letting go of that dream! It's a keeper!

DJ
 
Debt Junkie said:
:D Just trying to chase what makes me happy. My dreams are growing, slowly. After reading your 'how much cash' thread I'm starting to get some new ideas!

DJ
Click to expand...

First class plane tickets. 6 star hotels. The best restaurants in the world. The freedom to work or not work, as you please. Have the time to spend with your family. The money to help out those in need. Palazzo in Italy. Chateau in France. Mansion on the Gold Coast (check out Clear Island Waters).

That might give you a few ideas.
Alex
 
alexlee said:
First class plane tickets. 6 star hotels. The best restaurants in the world. The freedom to work or not work, as you please. Have the time to spend with your family. The money to help out those in need. Palazzo in Italy. Chateau in France. Mansion on the Gold Coast (check out Clear Island Waters).

That might give you a few ideas.
Alex
Click to expand...

And with that, you've kind of hit on the reason why my dreams aren't that big.

I don't actually want alot of those things. I've got most of what I want already ... except the freedom not to work.

That's my key goal - to quit by 40 - it might not be achievable, but I'm going to try for it anyway. At a stretch, I'll make it 45 :)

I might do some travelling, absolutely first class, but that's about it. Family and friends are already close, life is very very good (touch wood). I've just got to ditch the 9 to 5!

DJ
 
johnnyb said:
Sue,
I think that's a bit sad. I can understand that you may not like this particular house, but there are so many houses that have character and are beautifully designed and crated (St Lucia is full of them). I love good architecture and would happily pay a premium for it.
Click to expand...

I agree with you! I think it's sad too. I like admiring good architecture but don't have to live in one. Tbh, my ideal home would be a two storey condo or just a big condo on min 10th level, gated, swimming pools, parks, tennis, gym, shops etc the type you get in Asia. The least maintenance the better.

I used to want the Macmansion but after a taste of it, I'd probably die cleaning.

alex - have you stayed in palazzo versace? 6 stars bleh..whatever. i have no desire to travel first class or buy holiday homes...what's the point? I've been to france twice and i think that's enough unless there was some special event held there. Still so many places i want to go; middle east, india, more china, africa, inca trail, mexico, canada and more europe. have you taken the traveller iq challenge on facebook? :D
 
sue78 said:
alex - have you stayed in palazzo versace? 6 stars bleh..whatever. i have no desire to travel first class or buy holiday homes...what's the point? I've been to france twice and i think that's enough unless there was some special event held there. Still so many places i want to go; middle east, india, more china, africa, inca trail, mexico, canada and more europe. have you taken the traveller iq challenge on facebook? :D
Click to expand...

I have stayed at the Versace, actually. I rather like it. I've also flown first class (on miles: a lot of miles). I wouldn't pay for it (yet) but it is VERY good.

But each to his/her own, of course. Just aim for whatever you want.
Alex
 
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alexlee said:
First class plane tickets. 6 star hotels. The best restaurants in the world. The freedom to work or not work, as you please. Have the time to spend with your family. The money to help out those in need. Palazzo in Italy. Chateau in France. Mansion on the Gold Coast (check out Clear Island Waters).

That might give you a few ideas.
Alex
Click to expand...

I think I'll just settle for a reasonable house with a decent backyard.
This one's a bit further out of town, but if I was living in Bris Vegas, this is the sort of thing we'd like....

http://www.realestate.com.au/cgi-bin/rsearch?fslm=1&a=o&id=103533773&t=res

Cheers,

The Y-man

p.s. sold fully furnished? You'd pay about 3 times more in Templestowe...
 
sue78 said:
i have no desire to travel first class..
Click to expand...

Sue, was lucky enough to travel in first class recently (no I didn't pay for it, on some travels for work and was upgraded from business), and let me tell you, absolutely fantastic.....Not long before you would get used to it......

A slight variation to the topic, as there is an amazing IP (not PPOR) opportunity which goes for auction in a couple of weeks, but may be beyond me. Bit like Debt Junkie's St Lucia dream. Am busily scurrying for funds as we speak but am not optimistic :(

If I can't afford it, I know this will continue to spur me on. But I will be somewhat p'd off for a little while....
 
Hi Nat.

Yes, both properties we contracted on were in Percival Terrace, missed both, but don't have any regrets now, especially as the school parking has become so problematic. The one opposite the school (1930's one) was gloriously shabby, and the people who did buy it ripped out the gorgeous 1930's bathroom and have probably ruined the ambiance, but I loved the shabby feel and would have not touched it too much.

I have spoken to people who have been in the house since it was done (now new owners are doing more - you would have noticed) who have said it is fantastic and others who have said they have ruined it. It all comes down to personal taste.

The one that the Y-man linked to just leaves me cold, so lucky we are all different or we would be pretty boring.

Wylie
 
wylie said:
The one that the Y-man linked to just leaves me cold, so lucky we are all different or we would be pretty boring.

Wylie
Click to expand...

It would be good for a huge family..so big you could evevn have 2 famillies living there. If it was just us I'd be too scared to go home on my own. The house is a bit dark. I like a bright house.

My friend, an overseas student...really rich. Her parents bought one of thsoe 7 br mansions in stretton similar to yman's house. sh elive sthere by herself and the hwole house is practically untouched as she just lives out of her bedroom!!

I'm sure 1st class travel is lovely! i just wouldn't pay for it.
 
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