Advice on house offer

**Eevo** · 30th January 2016, 04:58 PM

Originally Posted by Xtreme

If you're renting at the moment then the longer you delay buying your own place, the more it is costing you. Four years ago I assisted my daughter to buy a house at auction. She paid a bit more than the limit she had set herself for it but saved on rent at $500/wk for the following x months while she looked for another place that she liked, if she hadn't extended herself on the one she had already found & really liked. The value of the house has increased substatially (up 30% last year!) since purchase so purchase price is happily a thing of the past.

If you've already been looking for 2yrs are you prepared to wait another x years before getting into the market.

You can only kick tyres for so long but you don't begin to enjoy your new posession until you make the committment. Go for it - offer to meet them half way with an offer of $400k, which is what you uncle says it's worth.

i dont see renting as costing me.
renting or owning, all your doing is paying for a roof over your head.

property value is different in adelaide. its not going up. Monthly Indices | CoreLogic RP Data

a verbal offer for 415 was rejected this afternoon. they were told 420 and above thanks.

**Xtreme** · 30th January 2016, 06:02 PM

Originally Posted by Eevo

i dont see renting as costing me.
renting or owning, all your doing is paying for a roof over your head.

property value is different in adelaide. its not going up. Monthly Indices | CoreLogic RP Data

a verbal offer for 415 was rejected this afternoon. they were told 420 and above thanks.

Better that your rent $'s go towards buying your own place instead of helping the landlord buy his. In my books that's more than paying for a roof over your head as you will eventually own the roof and then you no longer have to pay for it.

**Eevo** · 30th January 2016, 06:14 PM

Originally Posted by Xtreme

Better that your rent $'s go towards buying your own place instead of helping the landlord buy his. In my books that's more than paying for a roof over your head as you will eventually own the roof and then you no longer have to pay for it.

Not when renting is half the price.
And when you own it, you will have paid th bank twice as much in interest.
Can't take it with you when you die

**trog** · 30th January 2016, 06:17 PM

Why not buy a place , this one you are looking at , or another , then rent it out for a few years. In the meantime rent a place at a lesser rate , and add whatever you can to the repayments. This can quickly knock a fair bit of the debt down. It is working for us.

**Eevo** · 30th January 2016, 06:34 PM

I just have zero interest in renting out a house.

**Xtreme** · 30th January 2016, 06:41 PM

Originally Posted by Eevo

I just have zero interest in renting out a house.

From some of your responses, it appears that you don't have too much interest in owning one at the moment either.

**Eevo** · 30th January 2016, 06:47 PM

Originally Posted by Xtreme

From some of your responses, it appears that you don't have too much interest in owning one at the moment either.

im not about to be sucked into a rat race.
eg, buy now before prices go up
eg, house prices always go up
etc etc.

it might be different in melb and syd but i'm not buying there.

cafe latte · 31st January 2016, 09:52 PM

Originally Posted by Eevo

i dont see renting as costing me.
renting or owning, all your doing is paying for a roof over your head.

property value is different in adelaide. its not going up. Monthly Indices | CoreLogic RP Data

a verbal offer for 415 was rejected this afternoon. they were told 420 and above thanks.

People play poker, I have had loads of offers refused that when I dug my heels in and walked away the offer was suddenly accepted..
Chris

cafe latte · 31st January 2016, 09:53 PM

Originally Posted by Eevo

i dont see renting as costing me.
renting or owning, all your doing is paying for a roof over your head.

property value is different in adelaide. its not going up. Monthly Indices | CoreLogic RP Data

a verbal offer for 415 was rejected this afternoon. they were told 420 and above thanks.

People play poker, I have had loads of offers refused that when I dug my heels in and walked away the offer was suddenly accepted..Nobody who is serious is going to loose a house sale for 5 grand I would call their bluff if it was me..
Chris

**VladTepes** · 1st February 2016, 02:28 PM

No doubt coloured by the recent expenses I've incurred for underpinning following subsidence, when you said "the house had moved" my immediate reaction was....

run away ! run away !

Did any of the previous people who pulled out of the sale get a building inspection done? If possible see if you can get their details or have them contact you and get a copy off them. They might be happy to recoup some of the $ they spent on it that is no useless to them. I wouldn't be at all surprised if the result of such an inspection highlighted big $ required to fix.

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