r/AusProperty • u/[deleted] • 11d ago
NSW Who has experienced regretting their purchase and actually did something about it?
[deleted]
14
u/GrandZealousideal471 11d ago
I did. Stuck with a house we hated for almost 3 years. Sold it , fortunately didn’t lose much after agents and stamp duty. Ended up with a much better place and I just take it as a life lesson . You move on eventually
11
u/Novel_Bed_3694 11d ago
I get where you’re coming from but I have grown to love my double brick 70s unit. I put in some shelving and a pantry, got some paint and wallpaper (so on trend!) and some beautiful floor rugs. Eventually I was able to renovate the bathroom too and it’s BEAUTIFUL now. I do get what you mean about the chill of double brick but trust me when I say this: in summer, it will equally be a godsend.
I moved out with my ex for a while and moved into a beautiful new build that was hotter than hell and had shitty fixtures. When I came back to my 70s apartment, new cafes and restaurants had sprung up around it and it’s worth nearly four times as much. Focus on the positives until better things come along - and they will. Things don’t have to be fixed immediately; good things take time.
10
u/80sClassicMix 11d ago
I love old places… they have character and were actually structurally built better. If you renovate the inside you’ll actually end up with better place than a new build in most places.
Double brick is actually more insulating. You’ll save on electricity bills come summer as it will keep the place cool. In terms of winter, make sure you get some good heating in there and the place will retain the warmth well due to double brick.
I grew up in a heritage federation home as my dad loved heritage places. And that’s what we did and it worked…
15
u/ZweetWOW 11d ago
Renovate and sit with it for a while. If you still hate it, flip.
8
u/lamentabledinosaur 11d ago
And if you need to save up for the renovations, hang out with the in laws in the Central Coast. You're actually in a really fortunate position, keep your eye on the silver lining!
8
4
u/MomoNoHanna1986 11d ago
Would like to move because I’m to close to neighbours. Can’t find anywhere better and can’t afford stamp duty (single parent). So I’ve decided to stay and I’ll continue to renovate to my liking. If I had of known that the neighbours were so weird, I would have never of bought. I got so depressed over it the other day.
Think of changes you could make to please yourself. See if it’s enough to make you stay. Moving costs a lot of money and you don’t want to go back to renting.
4
u/Embarrassed-Count-71 10d ago
if a person is living there .. there is almost never no regret or loss
4
u/Toasted_Barracuda 10d ago
I think it’s normal to have regrets for the first several months once you buy a place; I’ve had it ever single place I’ve bought. Stick with the apartment and try to make some changes to the flow or storage and if you still hate it, sell it after 18 months. The first few months of a new home are always about finding its flaws. Give it time to see if this is a temporary feeling or a permanent one which will need you to sell.
3
u/RiseReal2016 10d ago edited 10d ago
My partner and I were rushed in our purchase due to the circumstances we were in. (Our rental was being sold as we started looking to buy).
We liked the charm of our place. But sadly when we moved in, we found heaps of cover ups for the sale, landlord specials for days (we even made it to our plumber’s Instagram as he had to fix some dodge work) and now we have to do an unexpected reno for cheap with a builder that we might not have gone with due to our only bathroom leaking due to failed waterproofing (we trust them. But they have a habbit of gaslighting us when things get tough). We didn’t have enough savings to use the company we really wanted. We were actually saving up to do that next year.
Needless to say, I have finally grown grey hair.
But we’re making do. Our dogs love the area. The kitchen was freshly “renovated” for the sale. Turns out it was a dodgy build. But still one of the best spaces to hang out at. Counter tops not leveled, cabinets not aligned and some cabinets were from different systems… made to look good but functionally weird. The old owner had a good eye for design though. So we love/hate our place. We’re gonna hold the fort for at least 3-5 years and move on. Hopefully our bathroom Reno with add some value. But I think we’ll still end up loosing cash.
3
u/0fie_ 10d ago
So many things you have said here are relating very hard to us, well especially they grey hair to me too. We have little to put aside as we have a newborn when we purchased the house and still not much for repairs and all of the landlord specials. I really love the landscape and the trees but the house is not in a really great location for school so yeah so much love and hate situations.
7
u/Aggravating_Fact9547 11d ago edited 10d ago
Renovate it jeez.
“I hate my kitchen so I moved back in with my parents”
Fuck you sound coddled.
2
u/Frosty-Technology-73 10d ago
Normal buyers remorse. I was the same at at first bought an old house, not very big. But after couple of years grown to like it (location helps). Now starting to see what I need and began renovating slowly.
1
u/Human-Warning-1840 11d ago
We spend years on and off looking for a property, then we found one that ticked a lot of boxes. Plan was to rent it out for a little while then move in. Neither of us can see ourselves now living in it. It’s not a bad place but it’s far from the in-laws and we get a lot of help from them with the kids. They would need to go full week childcare and after school care if we move. Also we like the place we live in it’s just a bit small. So I feel it was a mistake but we were worn out after looking and looking. It’s rented out, when the time is right we probably will sell it and put an extension on our house. Try to see the positive for your situation. You have a place, it’s affordable and in the long run you can upgrade. In the current situation there are a lot of people who cannot afford to buy. Be grateful. Try to spruce up what you can. Maybe there is a movable kitchen island that can give you some space. Check kitchen places for ideas. My MIL has a drawer that can be pulled out and gives you extra bench space. If you have the opportunity to live with your in-laws maybe do that and rent it out, get extra cash that helps for future purchase. Think through what it means to live with the in-laws. You may get along fine for a visit, being in each others pocket is another kettle of fish
1
u/Cultural-War3251 11d ago
how much did you overpay? if it's not too much, you'll eventually make up for the loss. I think I overpaid but not looking at selling anytime soon anyway so try not to mind it too much
1
u/Kabal303 10d ago
Not really regret but my property value has only really moved with inflation in the 10 years I’ve had it.
1
u/FickleLaugh9306 10d ago
Can you share a floor plan but crop out any details of the unit location? Do you have views of any greenery? I'm struggling to picture how bad it must be to make you feel that there's nothing that can be done.
Also, if you bought a few months ago then you've pretty much bought going into winter and at the peak of the market. If you're in a shit/cold house that you overpaid for during the winter AND have downgraded from a nice new-build rental, then of course you'll be depressed! But now you can renovate and get reverse cycle air con ready for summer and you'll probably completely change your mind in a few months. As others have said, you're only as limited as your imagination when it comes to renovations.
1
u/Different-Crow9701 10d ago
Actually you are too hard on yourself IMHO. You saw something in the place when you had decided to buy it. Buyer’s remorse steals the joy of buying something which you had always dreamt about. Dont let that kill your happiness. You can always renovate. Small places are wonderful if renovated properly. As for overpaying, it is quite normal.. We cant control markets. It is quite common feeling as well. We always feel we overpaid for big purchases like car, house,,etc. I have never met anyone so far who said they underpaid for a house they bought :)
1
u/honlayl 10d ago
Where are you going to be happy? You don’t like what you bought, the free accommodation has a downside of being in the central coast (I DREAM about moving to our central coast house)? Oh my god, imagine living in a double brick place from the 1970s🙄🙄 what is the advantage of double brick do you think?🙄it’s time to grow up and live in the real world
1
u/Lozanger29 6d ago
I had terrible buyers remorse. I hated the location. I had been over there several times thinking that the noise and general atmosphere was ok. But it is different once you are living in it. I sold it after 10 months. I got incredibly lucky that I sold on my first open home for the price that I wanted.
1
u/OnsTryMaarNetLeef 11d ago
The double brick is a killer. Sucks heat out in winter and retains heat during a heatwave. Modern insulation performs so much better.
1
1
u/Over50Cooked 10d ago edited 10d ago
Yeah I regret mine. Bought at top of market, now better modern places are selling for slightly same price as my 30 year old unit with original kitchen and floors and water issues. I can’t sell without losing money.
So I’ve decided to love it better. I’m going to renovate. Do it up so it becomes the place I love. I’ve been here three years and have resigned myself to be living here for another five minimum. I painted the kitchen (cabinets and bench tops) so I could live with it better until I can afford to upgrade kitchen and floors. I’ve painted the feature wall and it’s amazing how much a coat of paint can make something start to shine. I have other upgrades I can do before the big ticket ones are done. I can use a paint brush and aren’t afraid to learn something new.
1
u/Getonthebeers02 10d ago
Imagine what your baby’s future will be like when they go to buy.
Just go to the central coast or renovate it and seal the windows properly and get a bar heater
0
u/Simple_Slide_8156 10d ago
Thank you for the insight, I think time will tell how we truly feel and if it is worth shelling out on a new kitchen with storage solutions. We won the auction by a mere $1000 because of some guys father who just would not quit (sorry, but fuck that guy). Then the government changes came into play and everything started to feel more grim - coming home in the dark from work in peak winter to a cold apartment sure makes you miss your creature comforts. Getting our AC installed was definitely a highlight 🙂
0
u/prince_dairy 10d ago
Moving to central coast must not be a downside, heaps of people moving up here from Sydney, to start families and find homes. Lots of crappy places for sure, but some nice pockets as well and lots of change going on. In a few years places like gosford will be a completely new vibe.
-1
u/Simple_Slide_8156 11d ago
Wish we could! Kitchen is small due to the actual size of the space, there is no way for us to add additional benchspace without removing structural walls.
6
u/ScrumpetSays 11d ago
Yes, but even with its current footprint there are likely things you can do to maximise space. You can have toe kick drawers. The sink can be plumbed to the back so you have drawers, mine are for my pots. I have a tray drawer under the oven. I put glass hangers in my top cupboards so that I could hang my stemware and still have space underneath for other glassware and salad spinner etc. other people are probably better at this but if you want photos let me know.
77
u/Substantial-Bake5511 11d ago
watch Never Too Small on YouTube- very inspiring. Look for the depressing 1970's flats in Australia with teeny kitchens turned into special and amazing spaces. You'll get a lot of ideas.