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  1. #11
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    I would buy cheap on the outskirts.

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    Little Ted  (30-07-2015)

  3. #12
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    20 minutes seems very reasonable. I know it's longer than 5, but if you can save $70k, sounds worth it. Especially if it's a new development as you say...Could you buy off the plan? You would have quite a bit of equity in the house once built and you'd be closer to affording back where you live now.

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    Little Ted  (30-07-2015)

  5. #13
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    It's a no brainer for me, but we live out of town so it's 10 min to a tiny little town and 15 min to the outskirts of our closest regional centre. There's pretty much nowhere that we go to that isn't 20min+ travel time. Unless we are popping to the little foodworks for milk or the paper. So we would definitely live further out and have a bigger house for less money

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    Little Ted  (30-07-2015)

  7. #14
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    Okay. I think we're just going to try and go for a good-sized house when one comes up. There's nothing on the market currently.

  8. #15
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    Based on other info - keep saving.
    I would only move out if I got a bigger block.

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    Little Ted  (30-07-2015)

  10. #16
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    Quote Originally Posted by maternidade View Post
    Based on other info - keep saving.
    I would only move out if I got a bigger block.
    The thing is is that we can't save enough to keep up with the house prices going up. We are now further from being able to upgrade than we were two years ago. Last year we were $20k short, now we are $70k short.
    Feeling a little disheartened I guess. Never ever thought we'd still be trying to buy. We've made numerous offers with some being over asking price but were outbid each time.

  11. #17
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    I was in a similar situation and opted to move further out for a larger and better home. It increased my daily commute from 1.5 hours to 2 hours, we can no longer walk into town to the cafes and shops, and we are further away from the city too. On the plus side we got a flat block with lots of extra space for veggies chooks etc, the house has a better floor plan and is larger and newer, and we are closer to farmland and wineries!

    I think the biggest thing to think about is the extra costs of selling and buying, it really adds up and can really eat into any savings you make by getting a cheaper property. Think general moving costs, plus potential mortgage discharge fees, new home loan costs and LMI of that applies too. One thing I wish I'd done first is rent a place first in the new area before making any final decisions about selling and buying. Probably would have still ended up roughly where we are now but it would have given me good info about the area and I would have been better informed about property values and the good/not so good parts of town.

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    Little Ted  (30-07-2015)

  13. #18
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    Quote Originally Posted by Little Ted View Post
    We have been looking for some time and realise it's so not the time to buy but we either buy or spend a lot of money on basic renovations as our house needs some things replaced. We don't have the skills to do them ourselves so it would be quite expensive. Besides that it is too small for our family in many ways.

    Would you...

    a) Buy on the outskirts (cheaper) and drive in and out of town for activities, school, etc.

    OR

    b) Keep on looking in town to save money and time.

    My DH works the opposite direction to the outskirts which makes it a little more tricky.
    Have you thought about a big reno on your existing place? Maybe getting an architect in, having plans to extend (up or out) drawn up. Costing it out properly, taking into account if you stayed you don't have to pay stamp duty or agent fees etc. Is your current location your ideal location?

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    Little Ted  (30-07-2015)

  15. #19
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    Quote Originally Posted by GirlsRock View Post
    Have you thought about a big reno on your existing place? Maybe getting an architect in, having plans to extend (up or out) drawn up. Costing it out properly, taking into account if you stayed you don't have to pay stamp duty or agent fees etc. Is your current location your ideal location?
    The area hasn't changed enough for us to stay here. Properties have been bought by investors in the street and rented out so no one is renovating. Not worth renovating this one - it has "issues" and the floor plan doesn't lend itself anyway. We do wish we'd bought one we could extend on to in the first place but that too was a horrible time to buy!

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    GirlsRock  (30-07-2015)

  17. #20
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    30 mins isn't far at all. We drive that far to get petrol and go to Costco etc!

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    Little Ted  (30-07-2015)


 

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