Over the past month, I have been looking at two apartments located in quiet streets within my suburbs of interest. One of them is a ground-floor apartment in Ormond, located south of Carnegie in Melbourne’s inner south-east. The other one is a first-floor apartment in Hawthorn East, between Hawthorn and Camberwell in inner east Melbourne. I have inspected both properties twice, checking the condition of each property, locating the plugs and NBN ports to put my appliances in and seeing how I could arrange my furniture. I also did some due diligence on both properties. I did some research online to see which planning zone the properties are in and whether there are any problems with the property such as being located in a flood zone. I have also read the contract and vendor statement for each property myself and got them reviewed by the conveyancers to see if they need to be revised. Lastly, I have ordered building and pest inspections to see whether there are any oustanding problems that need to be rectified.
Looking at both properties closely, I can see both the positives and negatives of each one. The Ormond property is only a 10 minute walk to the nearest train station in the Frankston line. That makes it easy for me to catch the train. Moreover, when the Metro tunnel opens next year, I can change to an express train in Caulfield station to go straight to the city. I also really liked the big outdoor space of the apartment. In fact, there is enough space to build an outdoor deck and set up some small garden beds to grow some plants and vegetables.
However, I have spotted a few negatives with the Ormond property. The aforementioned outdoor room has the fences in the wrong places, meaning the window of one of the bedrooms is overlooking a neighbouring backyard, presenting an invasion of privacy. I have alerted the agent of the issue who relayed it to the vendor. The fence problem is nearly being fixed with a quote being organised to move the fence. What cannot be fixed; though, are the rooms in the apartment being small. This not only means I cannot fit everything that I have in the apartment, but I would outgrow it quickly, forcing me to sell in the short-term. That is what is stopping me from buying the property.
In contrast, I prefer the Hawthorn East apartment more. That apartment is located within a quiet street in Hawthorn East. It is near a train station, meaning I can easily catch the train to the city; Camberwell, where there are plenty of shops, markets and amenities; and a park, where I can do some running. The rooms are also big, meaning I can fit everything that I have while still having enough room to buy more things. That makes it less likely that I will outgrow the apartment and being forced to sell the apartment too soon. Lastly, the kitchen and bathroom are renovated, meaning there are only a few things that I need to do (mainly replace the carpet with the floorboards and the heater with a split system) before moving in. Despite a higher price tag and higher strata fees, it is a really nice apartment that I can see myself living for years to come.
The auction for the Hawthorn East apartment is happening tomorrow. Having done a lot of research on the apartment, I will be coming to this Saturday’s auction and bidding with the intent of buying the property. I feel I have a good shot of winning the auction. Not only have I done a lot of research on that property, but I have decided on the prices that I think will get me the property without paying too much. If I fail to get the property; though, there are still plenty of properties that I can buy that would suit me. It has only been over a month since getting my pre-approval, but I am already getting stuck into the property search and seeing what it is like to be looking for the property that would be right for me. I can use the upcoming Christmas/New Year break to recharge and reflect on what I have learnt so far. Hopefully when I get back into the property hunt in the new year, I will be renewed and ready to find the property that is right for me.
One thought on “First Home Buyer Journey – 29th November 2024”