When we think of getting a “good deal” in the real estate world, it brings up connotations of squeezing the vendor down to their absolute lowest point. It brings forward visions of the selling agent in a dark room with a migraine, driven there by your absolute refusal to budge on your offer. But it doesn’t have to be that way.

Sometimes great value can be found by just playing the buying game smarter.

What do I mean?

Well, take the case of the first home buyer. As agents, we quite often come across first-time buyers with stars in their eyes and just wanting to buy something!!......... Anything!! They search for their home quite often with an eye on today and with no thought for the years that follow. They’ll buy the small 2 bedroom unit or funky apartment which serves their current need perfectly…….for now!!! But then kids come along or they get the Saint Bernard that they’ve always wanted and very quickly, it’s time to move.

So, what’s the problem?

The downside with a quick move is the entry and exit costs! Stamp duty, mortgage costs and insurance, selling and marketing fees, conveyancing. It can all add up to tens of thousands of dollars. Compounding the issue, the property may not have had enough time to increase significantly in value. We know that in the medium to long term, real estate is almost always a hugely rewarding investment but selling within a year or two, depending on timing, might not bring those rewards.

The solution??

Perhaps wait. Save a little longer and buy the bigger home that suits you now and will serve you if and when your family situation changes. This can be particularly helpful in a flat or declining market.

In a rising market, there is an external urgency to buy quickly. You don’t want to wait and have to pay more. But you can’t afford the bigger home just yet. Or maybe you can! Just because Mum and Dad are in South Yarra, doesn’t mean your first home has to be there too. Don’t make the mistake of thinking that you have to start your real estate journey where your parents finished it. Maybe look a suburb or two further out where you might find a nice equilibrium of convenience and reaching the goals of what space your home should offer. It’s a balance.

No solution is perfect and you must always take your own personal situation into account. Perhaps the best advice is to stop, breathe and plan. Work through your current and future needs and how these equate with your budget. From there, you can make some wiser choices.

If you are ready to buy and would like some help finding the perfect home, we’re ready to listen. Our agents at Barry Plant Manningham are trained to find out exactly what you’re after so that we can suggest the perfect solution. And why wouldn’t we? After all, we’re just people helping people through a really exciting stage of life.

Please see below our impressive sales for the week!

• 346-350 Bell Street, Preston sold for $3,720,000
• 13 Wiarando Court, Doncaster East sold for $2,332,000
• 9 Hamilton Crescent, Doncaster East sold for $2,110,000
• 82 Carbine Street, Doncaster East sold for $1,885,000
• 6 Forest Place, Templestowe sold for $1,778,000
• 36 Barnsdale Way, Ringwood North sold for $1,680,000
• 31 Morinda Crescent, Doncaster East sold for $1,400,000
• 4 Mayfair Avenue, Templestowe Lower sold for $1,400,000
• 22 Stradmore Avenue, Templestowe sold for $1,250,000
• 12 Violet Court, Blackburn South sold for $1,150,000
• 2/65 Medway Street, Box Hill North sold for $1,096,000
• 84 Lloyd Street, Heidelberg Heights sold for $1,000,000
• 1/31 Halls Parade, Mitcham sold for $950,000
• 44 Worrell Street, Nunawading sold for $963,000
• 408 Lower Plenty Road, Viewbank sold for $835,000
• 2/54 Metery Road, Eltham sold for $830,000
• 101 Bamfield Road, Heidelberg Heights sold for $780,000
• 12 King Street, Bulleen sold for $720,000
• 4/3-5 Skeffington Street, Bellfield sold for $715,000
• 2/35 Albert Street, Ringwood sold for $700,000
• 4/10-12 Anderson Street, Templestowe sold for $692,000
• 106/8 Hepburn Road, Doncaster sold for $651,000
• 2/13 Mountain View Road, Kilsyth sold for $636,000
• 201/1377 Burke Road, Kew East sold for $616,000
• 1111/20 Hepburn Road, Doncaster sold for $505,000
• 209/9 Red Hill Terrace, Doncaster East sold for $485,000
• 6/321 High Street, Templestowe Lower sold!
• 20 Ovens Street, Box Hill North sold!
• 464 Doncaster Road, Doncaster sold!
  

Currently under offer and will be sold soon:

• 1280 Heidelberg-Kinglake Road, Cottles Bridge
• 340 Middle Hut Road, Doreen
• 13 Nyora Road, Eltham
• 47 Domain Drive, Beverdidge
• 17 Daphne Crescent, Hurstbridge
• 22 Coolabah Drive, Eltham
• 3/3-5 Skeffington Street, Bellfield
• 1/136 Parker Street, Templestowe
• 3 Carel Court, Park Orchards
• 24 The Pines Outlook, Doncaster East
• 7 Grange Park Avenue, Doncaster
• 1/51 Warrien Road, Croydon North
• 201/1377 Burke Road, Kew East
• 48 Serpells Road, Templestowe
• 1 White Lodge Court, Donvale
• 11 Calderwood Street, Bulleen
• 4/20 Freeman Street, Ringwood East
• 38,40 & 42 Chippewa Avenue, Donvale
• 6 Shirvington Place, Donvale
• 36 Barnesdale Way, Ringwood North
• 308/435-439 Whitehorse Road, Mitcham
• 2/1 Ellison Street, Blackburn
• 112/202 Surrey Road, Blackburn

Spiro Drossos

Managing Director

Barry Plant Eastern Group