londonjas

Hi All

Just a little note to say hi! I have been reading the forum for a while but have had very little constructive to say so haven't bothered! That is until now....

My wife and myself are planning to head to Melbourne next year (June'ish) and we are off to Melbourne for a recce trip in two weeks time. The recce is going to be spent looking at neighbourhoods, checking out property prices, understanding what the cost of living is going to be like and so on. I haven't seen any meets advertised but it would be nice to meet some of the people 'on the other side' if only to put some names to faces!

I have to come clean and admit we have a little head-start in that my wife grew up (mainly) in Melbourne and my in-laws live there which makes the process a little less scary.

I'll post details of how we get one when we get back!

Oh and one little ps, how on earth do house buying chains work in Aus? Everything seems to be 30 or 60 day terms so very confused about how people line up a sale and purchase at the same time!

cheers

londonjas

NickyC

There are no chains here in Australia. When you put an offer in on a house and it's accepted you usually (depends on the contract) have to cough up the deposit (can be 10%) of the purchase price within a week or two. Settlement is usually 6-8 weeks later and you're locked in to it (or you lose your deposit). So you either have the full amount available at the time of the offer - or you get finance for it. People just don't make daft offers (like I'll buy your house as long as I can sell my own sometime in the future) - they'd be laughed at, here.

If you need to sell your old house to finance your new house - then you sell your old house first. Or you get bridging finance until you sell.

londonjas

Thanks nickyc. That sounds a whole lot more sensible than here!! I have that pleasure coming up fast.

woodyinoz

I have friends in this suituation. They have to complete in 60 days ( now 30 ) and they haven't had any interest in their place. They don't seem to really be worried because they will just rent one of them out if needs be. For them they are buying cheaper so the burden isn't there but for some other friends that are buying 3 times more I hate to think what will happen. They are having an auction next week! No not to sell but to get an idea of what it is worth... then they will add on another couple of $$$$$ to see if any mugs will buy.

What I did find strange when we first started looking is when a house is on the market for say $400k when they really wont except under $450. There is no knocking people down on price either.

fraser

Your in-laws live here Now that is scary I moved here to get away from mine

Brisben

That's my plan Fraser, I tried to sneak off without telling ere in doors, but as usual she is always one step ahead

fraser

You should make sure you go for a walk in the dark on a high cliff then

Brisben

Nudge nudge wink wink

DJMA

Hi

Hope your recce goes ok, how long are you out for. We went out last year to validate our visas and look at areas to live. We opted for the eastern suburbs although once we have lived there for a while, that could change. It us took nearly a year to get the house sold and sort everything else out, so we could get on and make the move. We leave the UK next Wednesday and arrive in Melbourne on 15th November. We are staying for a month in Armadale, while we look for a longer term rental.

Julie spent at least 10 years at school in Melbourne, so like yourselves we have a definite head start. The move is a pretty scary prospect, especially as it is getting so close.

We haven't seen anything about other meets in Melbourne, apart from the Mornington one. Maybe once we get settled we can start something in our area.

Look forward to hearing your thoughts on the different suburbs etc

David and Julie (DJMA)

OzTennis

At the weekend, a place on The Strand in Williamstown was auctioned. Photo attached - guess the price!

OzTennis

Bordy

$680,000. ??

jonjon

go on then give us the price

NickyC

1.7 million? (I know I'm right!)

OzTennis

Agent's estimate $1,700,000 (Nicky).

Sold for $2,600,000.

Will probably be knocked down and a new house put in its place so $2,600,000 for the views! :scared:

6 doors down sold for $3,910,000 2 months ago.

Not typical of Williamstown prices though which average at around $620K.

OzTennis

NickyC

Coo! Bet the sellers were pleased!

No doubt bought by a British migrant as no Aussies could possibly afford it

(That's the last time I trust realestate.com's sold prices!)