Remember your first PPOR? like your first kiss?

I remember my first kiss. :eek: In a property context, If you could go back and do it again what would you have done differently?

- Practiced with a pillow(i.e researched a bit more)
- Waited longer(i.e saved more for the deposit)
- Chose a different person (i.e different town, city, country)

About to go behind the school bike sheds a makeout with the bank soon so i want it to be special :p
Wish we'd understood what location really means. It ticked all the right boxes, like close to transport, shops, work, etc. But there was a subtle difference in the areas of the town and it was in the wrong (therefore slowest) quadrant for capital growth.

We were literally on the wrong side of the railway tracks.
Taken more notice of the location of our neighbour's entry* door (and centre of activity at 6am weekdays), relative to our main bedroom window.

*I'd say 'front' door, but their's happens to be on the side... our side :(
So far its been subtle yet ...not so subtle things that a person should be aware of when buying there first PPOR. The sorts of things that one can only see in hindsight or very carefull investigation....

So a fine tooth comb required for ones first?
Our first PPOR was a little 2-bedder clad home in Wentworthville in Western Sydney - 700sqm block, quiet street - absolutely loved that little house, it was tiny but as it was just the two of us it was perfectly fine and very much felt like home from the first time we saw it. We bought it in 1996 for $146k, I had to sell my car to make up some of the deposit.
Sold it in 2000 for $240k, we thought we'd won the lotto!
(Of course now it's worth about $450-500k ... I kinda think we should have held onto it, but it didn't cross our minds and besides finances wouldn't have allowed it at the time.)

We upgraded to a better suburb for $280k, 3-bed/2-bath brick home with pool, old but we renovated a bit, added a nice big covered deck. We sold after 3 years for $485k - yipeeeeeee! It was the absolute height of the market. We had bought a block of land 12months earlier so we went on to build our dream home nearby.:)

Market hasn't done a huge amount since then, but overall we've gone from a $146k home to a nearly paid-off $650k+ home in about 13 years - and around $350k of that has come from capital growth - so gotta be pretty happy with that!

In hindsight I wouldn't change a thing - I believe PPOR is a vastly different proposition to IP, you have to be happy in your home, area, proximity to family, friends, school and work, it's almost completely touchy-feely, while IP should be a pure numbers game.

First kiss - definitely would have chosen someone different!:rolleyes:
Still living in our first ppor so can't be too bad! (Well ok, it's been all of 3 years :p )

Given another chance, probably would have gone for bigger land/smaller house in the same price bracket.


The Y-man
Check for termites & don't trust your building/pest report. Place was riddled with damage.

Borrow as much as you can. We spent only about 70% of our budget. This was just before the last sydney boom so while it went up 40% in 18 months we could have made more money if we had bought big.
Just remember it is only your first PPOR and there will be others to follow (most likely ;) ). As such, look for the investment potiential and plan what you will do with it after the fact, before the fact.

Wish I had gotten an offset acc, instead of redraw... No idea of what % may still have tax deductability, and no way to fix it. As a result I will be "stuck" with my PPOR for a few more years then I would have liked... don't really want to sell...

Oh well. Live and learn.
Dropped suburb standard and jumped in on a low entry deal. Won years later on the sale, but slightly higher standards early would have yielded much greater CG over those years.
His name was Andrew, we walked down to the lake and he kissed me, he knew what to do and was very good at it, then he helped me learn to kiss back, I had a wonderful boyfriend to share my first kiss with.

Then he moved on, possibly to teach more girls about kissing....I got to teach my next boyfriend how to kiss, at the end of that first kiss with Don, I said how was that?

He said fantastic.

I said, great, that was from Andrew btw.:p:)

Now, what was it about property that you wanted to know....
Purchased my first ppor in Albert park - a double fronted Victorian with a genuine 2 owners, ie it was knackered.
Painted it and did some other rough work and sold it like an imbecile 6 mnths later and made 30% gross gains in 9 mnths. Thought I was a legend but in hindsight was dumb selling. Unfortunately i didn't learn from that selling mistake and kept buying/selling for a few more yrs.
First kiss was an awkward affair that Id rather forget :)
Not paid it off, i wanted to keep it as an IP but had paid off the mortgage and needed the cash to pay for the new PPOR i was building.
Should have used a 100% offset facility although dont really remember them being that prevelent in the early 90's.
I bought a townhouse at Oxley Park. Completely renovated and perfect for a girl who didn't know how to use a hammer. Probably should've bought a house that needed some work as values have increased more, but had tunnel vision at the time. Bought it with the intention to use the FHOG and then move in with the love of my life 6 months later. He dumped me soon after cos he wanted me to buy the renovation rescue next door to his place for him to renovate.

Bought it the first weekend of the FHOG in 2000 so prices increased by about 50K in 6 months, everyone going crazy to buy their first home. Sold for 65K more than I bought it for about 2 years later.

Tips: read the strata reports carefully. There's usually a reason why strata fees are so low (in my case, tight rse owners who allowed the place to look like a run-down caravan park). Secondly, check out the neighbours. Thirdly, don't sign a contract before you have finance. I went in innocently "knowing" I'd get finance. Lucky for me I had no problems. Fourthly, listen to your partner. Sometimes they may actually be right. The property I chose, while I got some profit out of it was not a good long term buy and I would've been better off buying a house that needed TLC.
So go low in the market, come out high. 100percent offset for greater tax benefits, and better equity access later on...


kiss the ugly chick. she may become princess in the future who puts out...alot