Tuesday, October 18, 2005

Looking for a new home - week 1

The time has come, I'm now looking for a new home to call my own.

I have too may years experience in looking for property for other people, leasing real estate, selling properties and looking to purchase development sites. All commercial discussions, now it's time for me to do it for myself...

I can conservatively say I have looked at over 2000 properties in the greater Sydney region and I have decided the Eastern Suburbs is going to continue to be my home.

Having my finger on the Sydney Real Estate market has it's advantages and disadvantages - I know what's out there... Altona, the house in Point Piper my old office sold for AU$28,000,000. The 2 bedroom units in Bondi I would catch a disease if I cooked in the kitchen. The terraces in Paddington I would have to go outside to use the toilet (until I renovated). The 3 bedroom units in Coogee I wouldn't feel clean after having a shower. The studios in Elizabeth Bay that I would have to share the corridors with the more "interesting" demographic of society.

Last weekend was my first weekend out looking, armed with my list of potential 1 bedroom units, with parking in my modest price range, all in chronological order and doing the 15 minute dash between inspections. I made the HUGE mistake of asking my mother to join me, mum has no concept of time and Saturday morning traffic (Once upon a time I was able to conduct 13 open house inspections in 1 day).

Off we go, first stop in North Bondi, didn't even bother stepping out of the car. The building looked a cross between ghetto, old school building and school building turned housing commission. NO.

Next stop, Woollahra, my second favorite suburb in Sydney, the description was 1-2 bedroom. WTF!!! Was the 2nd bedroom going to be on the balcony? What ever happened to s55 of the Fair Trading Act? (yes that is the correct section). It was dark in the bedroom, bathroom and kitchen. NO. There was another unit for sale in the same building so up to the 5th floor, this one was a studio, I need separate bedroom. It was lovely and light, renovated kitchen and bathroom. As I said to mother dearest repeatedly. I need a separate bedroom. 3 days later mum is still saying I should consider it... Ahhrgg!

disheartened. We do a "drive by" a unit in Bronte, my favorite beachside suburb, I knew this property was slightly out of my range, by this I mean, I can afford it but I would be eating 2 minute noodles until my next pay rise - no quality of life, or maybe... I'll be wafer thin at the beach each day... Ahh, No. It looked like a cent hasn't been spent on the building since the mid 60's, I see high strata fees in the future.

One more for my first day of inspections. It is in a teeny tiny street that I can't even do a U-turn, a gorgeous block of 8 units, ground floor, I could look inside from outside, thinking this is great, I don't even need to contact the agent to arrange a time to inspect the property. THEN I realised "if I can see inside, do I want just any old stranger to be able to look into my home so easily" NO.

This week I have 1 property on my list I can actually attend, another property I am sending both my mum and my previous boss to look at on my behalf.

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