I’ll start, I bought a shit box of a house. Every morning I wake up , I regret purchasing the property. Paid $650k for a duplex(107sq.m), strata title.
Not really a ‘purchase’, but I don’t talk about my exes.
🤣
They don’t matter, you can just recompile them from source anyway.
Also an old run down house, in 2014 at the peak of the market. Barely managed to refinance a few years later without getting nailed with LMI because the property value had dropped so much. It’s really only returned to what I paid for it recently. While I empathise with people who want the real estate market to crash, realise that the people who get fucked in that scenario are those on the bottom rung of the ladder. Not the people sitting up the top.
What I want is probably impossible: static real estate prices and rising wages.
Still if I had done it differently, say bought a newer place and further out, I’d probably have cursed my commute every day instead.
You point to the only solution to the real estate market we have. It aligns with the self interest of the most people possible.
Of course whether a government ever takes the steps required to induce such a situation is another story.
Home ownership sucks at first. Especially when repair costs come up. But as rents continue to rise and your mortgage holds steady you start to see the value. Then when wages start to equalize after an inflation period it’s like getting discount rent. These words might ring meaningless at the moment but you’ll live to no longer regret your decision.
For me it has been a used car I let myself get urgency pressured on. I should have realized the transmission was on its way out, I should have paid more attention to the loose trim piece that after I got it home revealed that I need to replace the whole dash. And the perfume smell has not faded, and I’m kind of scared of what I’m going to smell when it does. All in all I overpaid by at least 50%. Because it was the 14th Wrangler I looked at and all the others had major issues.
Thanks mate. Yea my repayments are low so atleaat that’s a positive when compared to rent.
My God man, in what suburb did you pay 650k for a strata duplex?
Anyway, my answer is Chainlink (LINK) at ~AUD$60
The financial loss was one thing, the time, effort and anxiety of watching graph go brrr for years is a whole different trauma.
Dianella Suburb is nice and the street I live in is kinda posh so I am not complaining about the suburb, its just the house
Dianellas not bad. It feels like one of those places thats it’s own thing, yet close enough to everything else.
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