Where did you purchase your first property?
- Thread starter redwing
- Start date
Location: Melrose Park, South Australia
Price purchased for: $81000
Year purchased: 1989 (17% Interest Rate)
Do you still own the property?
No,my ex wife does though
Why did you buy that property?
To get away from Mother In Law as we were living with them at the time.
Did you renovate?
Yes,spent a Motza
Price purchased for: $81000
Year purchased: 1989 (17% Interest Rate)
Do you still own the property?
No,my ex wife does though
Why did you buy that property?
To get away from Mother In Law as we were living with them at the time.
Did you renovate?
Yes,spent a Motza
Ok here's mine.
First property: was actually my yet-to-be-husband's purchase (PPOR)
Location: Prestons, NSW
Purchase price: $182,000
Purchase year: 1997
Do you still own it? No, sold in 2010 for $435,000 to move to Perth
Why did you buy it? Hubby got a settlement from a car accident and bought it so he could have his own place. The location was a new estate 10 mins drive from his parents place.
Did you renovate?. No, it was a new build
Why did you want to buy?. He thought property not such a bad place to put settlement money. Certainly better than blowing it at the casino
But since that wasn't technically speaking MY first purchase, I should probably do that too. So:
Location: Macquarie Fields, NSW (I know, I know)
Purchase price: $185,000
Purchase year: 2006
Do you still own it?. No, sold in 2010 for $235,000 as part of uncrossing cross-collaterised loans and moving to Perth.
Why did you buy it?. Seemed like a good idea at the time? Really had no clue what we were doing. It was a housing commission area, the agent did the classic "show 3 properties, in order from worst to best" and of course we went for the last one shown as it was a palace compared to the first. We had no idea how the offer process worked and even let the agent come up with what we should offer and so that's what we did. Double!
Did you renovate?. Yes, spent about $10k and a lot of hard slog.
Why did you want to buy?. Not sure, it just seemed like something we should do. We followed that up with another 6 months later, still own that one.
First property: was actually my yet-to-be-husband's purchase (PPOR)
Location: Prestons, NSW
Purchase price: $182,000
Purchase year: 1997
Do you still own it? No, sold in 2010 for $435,000 to move to Perth
Why did you buy it? Hubby got a settlement from a car accident and bought it so he could have his own place. The location was a new estate 10 mins drive from his parents place.
Did you renovate?. No, it was a new build
Why did you want to buy?. He thought property not such a bad place to put settlement money. Certainly better than blowing it at the casino
But since that wasn't technically speaking MY first purchase, I should probably do that too. So:
Location: Macquarie Fields, NSW (I know, I know)
Purchase price: $185,000
Purchase year: 2006
Do you still own it?. No, sold in 2010 for $235,000 as part of uncrossing cross-collaterised loans and moving to Perth.
Why did you buy it?. Seemed like a good idea at the time? Really had no clue what we were doing. It was a housing commission area, the agent did the classic "show 3 properties, in order from worst to best" and of course we went for the last one shown as it was a palace compared to the first. We had no idea how the offer process worked and even let the agent come up with what we should offer
and so that's what we did. Double!Did you renovate?. Yes, spent about $10k and a lot of hard slog.
Why did you want to buy?. Not sure, it just seemed like something we should do. We followed that up with another 6 months later, still own that one.
First Property
Location: Marrickville, NSW
Price purchased for: $310,000ish
Year purchased: 2010
Do you still own the property?
Yes.
Why did you buy that property?
I'd saved up almost* enough to buy.
Found a place in a great complex, no common walls, north facing, floor-to-ceiling windows in lounge room (leading to balcony which overlooks pool/common courtyard/garden), nice and bright, low strata fees, 5 min to train, 1 min to bus, near golf course, river, cycleway, very quiet block bla bla.
Did you renovate?
Not yet. Cosmetic will happen at some point.
Why did you want to buy?
PPOR.
* Thanks for the help, dad.
Location: Marrickville, NSW
Price purchased for: $310,000ish
Year purchased: 2010
Do you still own the property?
Yes.
Why did you buy that property?
I'd saved up almost* enough to buy.
Found a place in a great complex, no common walls, north facing, floor-to-ceiling windows in lounge room (leading to balcony which overlooks pool/common courtyard/garden), nice and bright, low strata fees, 5 min to train, 1 min to bus, near golf course, river, cycleway, very quiet block bla bla.
Did you renovate?
Not yet. Cosmetic will happen at some point.
Why did you want to buy?
PPOR.
* Thanks for the help, dad.
First Property
Location: South Lake, Western Australia
Price purchased for: $105k
Year purchased: 1993
Do you still own the property?
No I don't, I sold it for $185k in 2003 to upgrade ppor.
Why did you buy that property?
It was a nice property & I could afford it.
Did you renovate?
No, it was built in 1988 so was modern.
Why did you want to buy?
I wanted to get into the property market & purchase my first home.
Location: South Lake, Western Australia
Price purchased for: $105k
Year purchased: 1993
Do you still own the property?
No I don't, I sold it for $185k in 2003 to upgrade ppor.
Why did you buy that property?
It was a nice property & I could afford it.
Did you renovate?
No, it was built in 1988 so was modern.
Why did you want to buy?
I wanted to get into the property market & purchase my first home.
First Property
Location: [/B]Mildura - Victoria
Price purchased for: $128,000
Year purchased: 2005
Do you still own the property?
Yes.
Why did you buy that property?
I was 18 and had no intention of ever renting, the unit as reasonably priced and in a nice complex. So I went for it
Did you renovate?
Yes, over the time I lived there I installed a new bathroom, laundry, completely painted it, paver the small courtyard and replaced the vinyl floors with tiles. Did all this then rented it out :-(
Why did you want to buy?
Didn't want to rent and needed a PPOR
Location: [/B]Mildura - Victoria
Price purchased for: $128,000
Year purchased: 2005
Do you still own the property?
Yes.
Why did you buy that property?
I was 18 and had no intention of ever renting, the unit as reasonably priced and in a nice complex. So I went for it
Did you renovate?
Yes, over the time I lived there I installed a new bathroom, laundry, completely painted it, paver the small courtyard and replaced the vinyl floors with tiles. Did all this then rented it out :-(
Why did you want to buy?
Didn't want to rent and needed a PPOR
Location: Queenscliffe, NSW
Purchase price: $340,000
Purchase year: 2001
Do you still own it? No, sold in 2005 for $345,000 Borrowed too much, didn't know anything, couldn't afford it really, or possibly wasn't willing to make enough sacrifices to keep it, would have had to find $30K for a special levy to fix roof & balconies. Yep, pretty disastrous entry into the property market!!
Why did you buy it? PPOR
Did you renovate?. No, probably should have done the bathroom but couldn't afford to
Why did you want to buy? Sick of renting, always interested in property, loved living near the beach, thought it was a good first step.
Purchase price: $340,000
Purchase year: 2001
Do you still own it? No, sold in 2005 for $345,000
Borrowed too much, didn't know anything, couldn't afford it really, or possibly wasn't willing to make enough sacrifices to keep it, would have had to find $30K for a special levy to fix roof & balconies. Yep, pretty disastrous entry into the property market!!Why did you buy it? PPOR
Did you renovate?. No, probably should have done the bathroom but couldn't afford to
Why did you want to buy? Sick of renting, always interested in property, loved living near the beach, thought it was a good first step.
First Property
A 2 bedroom unit in a 6 pack unit block
Location: Greenslopes, Brisbane
Price purchased for: $95,000
Year purchased: 1994
Do you still own the property?
No I don't, I sold it for $106,000 in 1999 to move interstate.
I Owned it outright. I thought about selling it to husband but we had a nutty neighbour that lived in the house next door who would stick nails under occupants and visitors tyres, throw dog poo at people and various other nutty stuff. Thought it was probably why Sydney investor was offloading it when I purchased
Why did you buy that property?
5k's from city
5k's from parents
Both my sisters lived in suburb
Cheaper and nicer than the units I viewed in Coorparoo.
Easy access to freeway and city
I worked a Coorparoo so it was a 5k drive/ride .
I missed out on another unit in a block of 12 on a busy road. I offered the same price for this unit although it was heaps better and offer got accepted after I refused to go up.
Did you renovate?
With help of parents scrubbed, painted, new curtains.
Later hubby painted over kitchen cupboards, wood grain laminate doors and regrouted bathroom.
Why did you want to buy?
I wanted to buy rather than rent as I was living at home and saved $14,000. Apart from rates and bc fees it cost the same in p&i interest as renting.
.
A 2 bedroom unit in a 6 pack unit block
Location: Greenslopes, Brisbane
Price purchased for: $95,000
Year purchased: 1994
Do you still own the property?
No I don't, I sold it for $106,000 in 1999 to move interstate.
I Owned it outright. I thought about selling it to husband but we had a nutty neighbour that lived in the house next door who would stick nails under occupants and visitors tyres, throw dog poo at people and various other nutty stuff. Thought it was probably why Sydney investor was offloading it when I purchased
Why did you buy that property?
5k's from city
5k's from parents
Both my sisters lived in suburb
Cheaper and nicer than the units I viewed in Coorparoo.
Easy access to freeway and city
I worked a Coorparoo so it was a 5k drive/ride .
I missed out on another unit in a block of 12 on a busy road. I offered the same price for this unit although it was heaps better and offer got accepted after I refused to go up.
Did you renovate?
With help of parents scrubbed, painted, new curtains.
Later hubby painted over kitchen cupboards, wood grain laminate doors and regrouted bathroom.
Why did you want to buy?
I wanted to buy rather than rent as I was living at home and saved $14,000. Apart from rates and bc fees it cost the same in p&i interest as renting.
.
I bought my first property in 1982. It was in Keysborough, Melbourne. From memory it was $125K. Sold it for $230K in 1992 to buy a marital home in Canberra.
First Property
A small 3x1 1960s Fibro House
Location: Doubleview, Western Australia
Price purchased for: $510,000
Year purchased: Dec 2011
Do you still own the property?
Yes
Why did you buy that property?
To live in.
Close to city and just far enough along the freeway so that traffic is minimal, even in peak hours compared to a further 5-10kms North.
Close to misses work (hospitals)
Brother lived just around the corner
Very close to the beach.
It had a very good tenant in at the time so we had the option of leasing it for 11 months at a good rate, self managed before we needed to move in before FHOG issues
Did you renovate?
Painting and ripped up the carpet in the living room to expose the old Jarrah floor boards, obviously then sanded, polished and sealed again.
Why did you want to buy?
We had a goal of buying our first house before we saw out 21 and we did it.
A small 3x1 1960s Fibro House
Location: Doubleview, Western Australia
Price purchased for: $510,000
Year purchased: Dec 2011
Do you still own the property?
Yes
Why did you buy that property?
To live in.
Close to city and just far enough along the freeway so that traffic is minimal, even in peak hours compared to a further 5-10kms North.
Close to misses work (hospitals)
Brother lived just around the corner
Very close to the beach.
It had a very good tenant in at the time so we had the option of leasing it for 11 months at a good rate, self managed before we needed to move in before FHOG issues
Did you renovate?
Painting and ripped up the carpet in the living room to expose the old Jarrah floor boards, obviously then sanded, polished and sealed again.
Why did you want to buy?
We had a goal of buying our first house before we saw out 21 and we did it.
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First Property (Settled, though not the first signed)
Location: Clayton South
Price purchased for: $163,000
Year purchased: 2000
Do you still own the property?
Yes.
Why did you buy that property?
To live in.
Did you renovate?
No, it wasn't needed, the property was only 3 years old
Why did you want to buy?
Near work, station (for other half's work), good price for a 3Bed/2bath unit.
The Y-man
Location: Clayton South
Price purchased for: $163,000
Year purchased: 2000
Do you still own the property?
Yes.
Why did you buy that property?
To live in.
Did you renovate?
No, it wasn't needed, the property was only 3 years old
Why did you want to buy?
Near work, station (for other half's work), good price for a 3Bed/2bath unit.
The Y-man
First Property
Location: Sinagra, Western Australia
Price purchased for: $120,000
Year purchased: 1998
Do you still own the property?
No I don't, I sold it for $165,000 in 2003 to purchase PPOR. I wish I knew about LOCs back then as I should have done that to get PPOR money and kept the IP.
Why did you buy that property?
I wanted an IP and the easiest/cheapest way for me was a house and land. Land was $60k, house was $60k. I built a 4 x 2 with activity.
Did you renovate?
Nope it was brand new
Why did you want to buy?
I couldn't afford a PPOR as I was 22 but wanted to have something so it seemed like a good idea to get someone else to pay it off. No FHOG back then but pretty easy lending criterias
Location: Sinagra, Western Australia
Price purchased for: $120,000
Year purchased: 1998
Do you still own the property?
No I don't, I sold it for $165,000 in 2003 to purchase PPOR. I wish I knew about LOCs back then as I should have done that to get PPOR money and kept the IP.
Why did you buy that property?
I wanted an IP and the easiest/cheapest way for me was a house and land. Land was $60k, house was $60k. I built a 4 x 2 with activity.
Did you renovate?
Nope it was brand new
Why did you want to buy?
I couldn't afford a PPOR as I was 22 but wanted to have something so it seemed like a good idea to get someone else to pay it off. No FHOG back then but pretty easy lending criterias
First Property
Location: Woy Woy, Central Coast, NSW
Price purchased for: $325,000
Year purchased: 2010
Do you still own the property?
Yes
Why did you buy that property?
800m2 of land, medium density. Neutrally geared at the time, so a good purchase.
Did you renovate?
No, plenty of people would have been happy to rent as is.
Why did you want to buy?
I've been planning to retire by the time I'm 40. At the time, I had 12 years to go and this property was to set me up on my path to financial freedom.
Location: Woy Woy, Central Coast, NSW
Price purchased for: $325,000
Year purchased: 2010
Do you still own the property?
Yes
Why did you buy that property?
800m2 of land, medium density. Neutrally geared at the time, so a good purchase.
Did you renovate?
No, plenty of people would have been happy to rent as is.
Why did you want to buy?
I've been planning to retire by the time I'm 40. At the time, I had 12 years to go and this property was to set me up on my path to financial freedom.
First Property
Location: Launceston, Tasmania.
Price purchased for: $155,000
Year purchased: 2005
Do you still own the property?
No I don't, I sold it for $215,000 in 2009 to spend money on Hookers, drugs while overseas Travelling.
Why did you buy that property?
The old man Convinced me at the time, and it was an older federation house.
Did you renovate?
No, couldn't afford it. I did do a pathetic interior paint Job to try though.
Why did you want to buy?
No Clue, seemed liked a good idea at the time, but things changed a few years later once I went overseas.
Location: Launceston, Tasmania.
Price purchased for: $155,000
Year purchased: 2005
Do you still own the property?
No I don't, I sold it for $215,000 in 2009 to spend money on Hookers, drugs while overseas Travelling.
Why did you buy that property?
The old man Convinced me at the time, and it was an older federation house.
Did you renovate?
No, couldn't afford it. I did do a pathetic interior paint Job to try though.
Why did you want to buy?
No Clue, seemed liked a good idea at the time, but things changed a few years later once I went overseas.
Going off memory here
