It is just going to be another entry on my home hunting thoughts. Recently I have been quite troubled with the whole saga – choosing the right home to buy is certainly not easy. There are just too many factors in it. House or unit or town house? Free standing or semi-detached? 2 or 3 bedrooms? Location location location? With or without the car space? And most importantly, how much it costs?
I think what makes me struggle the finance itself. When we started looking around a month ago, we were mainly looking at the units or town house around Eastern suburbs – ranges from north to Kensington, south to Maroubra, east to Coogee and west to Mascot. I figured out that I should be able to get myself out of debt in 10 years if we settle for a unit or town house. I don’t like the feeling of “owing” someone something.
But then someone older in FOCUS suggested us to look for a house with its own land, for the reason that it is the land that is valuable in the Eastern suburbs. It would provide kids a backyard to run around, and you have freedom to do whatever on top of your land. And a house is better for ministry in FOCUS – you can invite people over (I failed to see how a unit/townhouse differs though). Due to his influence, we have been looking at free-standing/semi-attached houses over the past 2-3 weeks.
However, the cost would bump up quite a bit, simply because houses with land cost much more than similar sized units/townhouses. With a bit of calculation, I would still struggle to reach debtless in 15 years, even at the condition that reserve bank does not introduce some outrageous interest rates. Due to my lack of trust (in myself anyway), I don’t sit comfortably in the situation where I need to budget every penny in order to survive.
I started to reason with myself why it is not good to buy a house. If it makes me financially stretched, I might be more attached to work, which leaves me less time. Because it is a house, I need to spend time fixing this or that, doing the the gardens, etc, which leaves me even less time. I won’t be so involved with FOCUS as a result. So at the end it is not a good idea…
For there is a time and a way for everything, although man’s trouble lies heavy on him. For he does not know what is to be, for who can tell him how it will be?
Ecclesiastes 8:6-7 (ESV)
my two cents: house gives more privacy, but gardening is definitely a chore. one need not to worry about noise when inviting people over (to a certain extent) in a house.
Its an old line I know but I think its all about knowing what you actually WANT rather than what is best for investment. I was very unsure about what I actually wanted and watched friends buy and do up a house and that looked good. I have done the same and it has far exceeded my wildest dreams. It is fantastic having my own land and a small castle on it.
Maybe you could try prioritising what you think you want and go from there. You won’t get all the wants but once you get a few the rest falls into place.
Woah. You’re making me not look forward to growing old…
I thought houses grew on trees.
Thanks for the suggestions. The deal has been settled last night (see my latest blog) at I think a reasonable price. Time for me to learn to become a handy man…
if you want a house well if your looking in the eastern suburbs then yeah the cost could be a problem.
let me suggest buying out west. 4 years ago i’ve bought my place out here even though i worked in the city 50min train to central station(no driving :)).
i’m going to sell very soon it’s 3bedrooms garage on 750sqm interested? :) only around 350000 walk to station,westfield …
when i bought it 4 years ago i talked to a few of my work mates they would’nt even consider buying out here they were all looking very close to the city. well were are they now now it’s impossible expensive to buy or if they were lucky would have got a flat somewhere who knows.
just remember you can always sell any buy something after you paid it off that why slowly and steady you’ll get to what you want.
check out the internet you’ll find houses here even around 250,000 what will that get you in the city? a studio appartment?
remember slow and steady get something cheap pay off quick when think about something better that way if interest rates go up you won’t stressout.
good luck
must say that for 250k you will get 3br Brick house on about 650Sqm
and not crap like some may think
think outside the square
Well. Laurie, thanks for the suggestion. Again, there are several reasons that I chose to stay in the Eastern suburbs, and being able to continue to serve in my church is the main one.
Anyway, I’ve purchased a place at the end of October (it is somewhere in my blog), and that spelt and end to my search.
Yes finding a new home is not an easy work it takes a lot of correct information to the place where you wanna settle down and some other factors to consider. I think a best way to inquire is if you have friends living in that place then you can ask them.