First Home Buyer Equity Growth $100k

?? ON-AND-ON-AND-ON…PURCHASE #19, 2nd THIS MONTH by EASY BUYER’S AGENT baby… This purchase was for a First Home Buyer. She is rebuilding her life after going through some difficult circumstances. She now lives with her renovator brothers and looking to buy her first home. Asking: $215k, Purchased: $195k and beating two other competitors. You see, when you have competition, you just have to put forward your best foot. Read on ?

? BRIEF:

Client is First Home Buyer, she really had no idea how to approach the buying process. She has sent us few links of few properties she liked.

? PROPERTY’S STORY:

We looked at the properties she has presented previously and we did the extra mile: that is NOT to choose any from what she gave us. Rather, we found an even better one. With pre-approved budget of only $200k, the task became a bit challenging. The reason is, as this is for owner-occupier, many factors need to be considered:

• Does she like the house?
• How about the area? Distance to CBD and amenities?
• How about the neighbourhood? It can’t be “the hood” (no pun intended) 
• Not to mention, she wants a big land that has value-add…all for under $200k…

While she understands her budget is limited, and she wouldn’t mind property that is a bit far away from the CBD, Easy Buyer’s Agent couldn’t just surrender like that. We did source and found a property that was way closer to CBD and ticked all her boxes, way better than all the options she has shown us previously. And not just that….check this out.

This property was originally purchased in 2017 for $295k. Owner has moved over-East and needed to sell ASAP. Yep..we found deals like this.

When we put an offer in, agent mentioned there were 2 other offers. Agent said we just had to put our best foot forward. Asking was $200-$225k, agent indicated owner was wanting around $215k…I mean, you bought it for $295k, factor in stamp duty and bank loan, I can understand why owner wanted $215k. Anyway, using negotiation tactic, and being very strategic and careful in determining the purchase price, we picked a number which our client was happy with, as well as giving us a huge chance to win. You see, you bid too low and you’ll lose out…you bid too high, you overpay. Client liked the house, I would feel so guilty if we lose this.

Now, talking about potential equity growth. Strategy is simple. We tell her, having brothers who work as renovator, just make it nice…spend a little, like $20k to make it $295k again. Some clean and nice 3×1 in the area has actually sold for at least $300k in the current market. With land size of 682sqm it fulfilled our client’s size requirements.

What a way to rebuild a new life.

? We take pride in what we do. We treat every single client just like our family, and story like this pushes us to keep being better and better. If you are in the market of buying property, do speak to us first…we are more than happy to share our knowledge with you.

 

Until the next purchase….peace.