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Old 02-06-2020, 06:53 PM   #1133
blueoval
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Join Date: Jan 2005
Location: Adelaide
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Default Re: Australia housing bubble

Quote:
Originally Posted by zilo View Post
Prolly cause we never had spas...theatre rooms..landscaping done on day one...double garage..workplaces with gyms and childcare at work...smashed avocado...smart phones on breathtakingly expensive handset plans...and an expectation that a degree entitled one to a job...

Hell ,we had 100 sq metre houses with one lounge room and one bathroom...and had sheets on the windows till we could afford curtains...air conditioning?...nope....two cars? nahhhhh
I bought my first home in 2007 in a pretty poor area. It was a poxy little 3bd flat, 1 bathroom, single carport off a main road on community title that was pretty average to look at, but it was solid. I still had to drive 45mins to work everyday and back.

I left it far too long to buy a house and really at the time, it was at the height of the boom before the GFC hit. We mortgaged ourselves to what we could afford and still be comfortable. Upgraded and replaced bits and pieces here and there but it was ours for about 5yrs. Sold it and made about 50k out of it which wasnt bad for doing very little other than new floor vinyl and some cheap plants. We used that profit to build the house we currently live in.

My point is, my expectations were realistic. We just had a vcr and the old box tv and we lived within our means at the time. I cannot say for a fact all people feel entitled to get everything, but I know a lot expect a lot for the price they pay in todays money.

Here in SA, you can get your foot in the door with house and land for under $300k if you are prepared to live in the outskirts of Adelaide and prepared to drive up to an hour in to work or longer if you take public transport. The house is new, but the house size and what you get for that price is probably not good enough for some. You may have to do your own perimeter paving, landscaping, floor coverings and be happy with the base range from the builders specs in terms of selections, but these extras could be done over time when your funds allow for it. It all boils down to being realistic and what you are prepared to accept.
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