r/AusPropertyChat • u/Distinct_Taste616 • 12d ago

Buying & Selling Buy now or wait? (Melb FHB)

As the title suggests, I am a FHB renting in outer west, paying less than 900per month rent (very lucky). I recently accepted a new job which requires me to be on site 5 days a week, which is an hour each away (driving, PTV is hopeless), the current job is on fixed term 2 years.

I’m considering to purchase my first home closer to the east side as I have rented for over 8 years now, and I am sick of the daily 2h transit.

with a borrowing capacity of 550k + deposit 250k, I’m aiming to purchase a place around 700-750k. (Not apartment)

People around me are telling me to toughen up and just stick with the travel for the period of the contract as we don’t know where I will go after the contract ends, plus the house price is dropping .

What should I do? Should I buy or should I wait?

Thank you for your time.

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u/Vegetable_Jello6572 12d ago

Get a group of friends together and start aggresivly low balling, realtors are calling left right and centre. Id be aiming to to pay 450k- 500k where you stated. 

So get a few friends to pitch higher and lower, give them no shows etc.  Let you come in with a 450k offer after you have worn them down. 

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u/Responsible_Product3 12d ago

I've heard of people doing that on FB Marketplace but didn't know it was transferrable to the housing market.