(no subject)

[wickedcherub]

There's nothing that makes me more ill than looking at property prices. The area I want to buy - some of those houses have risen in price by 200k in the last eighteen months while I've been looking and my house value has gone up maybe 40k? Like I don't understand how the value of my house could have gone up a paltry $180k in the past ten years when other suburbs have gone up almost $500k in that time period. I'm being priced out of the market and it's making me ill.

I then worry that if I just shut my eyes and buy these expensive houses in that area that I want, then the market will drop instead of rise and I will have made a loss. Because surely the market cannot sustain 3bedroom houses 40 min drive from city centre at $700k. Surely.

I hate adulting so much.

Comments

[suze2000.livejournal.com]

I dunno. Get back to me in 10 years and I'll tell you if our house 9km north of the city has been worth the $4000/month mortgage. :(

Just keep in mind that it's land that grows in value, not the buildings. It's great to have a nice house on the land, but if it's pocket size it will rise in value more slowly. You can always decide to sit it out. There are lots of people who bought in what was once an ordinary suburb thirty years ago, and is now highly desirable because of the proximity to transport or other facilities (such as the beach). I think it's important to buy near transport (preferably train lines which aren't hampered by traffic like trams and buses), so look at that first. Good luck! xx