The pandemic was raging, prices were soaring and buyers, especially those moving to regional areas, were battling it out for limited stock - 2021 could have been one of the most challenging years in recent memory to buy a property.
That's the situation first home buyer Tom Minchin and his wife, Emma, found themselves in when, at the start of 2021, they decided to move out of the city and closer to family in the Blue Mountains, west of Sydney.
"We were looking for a small, three-bedroom house with a bit of character and the potential to grow in. So, from January we started keeping an eye on the market while we sorted out our finances. We weren't officially looking to buy, but we were going to the odd inspection to get a feel for homes."
During that period, properties in the Blue Mountains were selling quickly. "Prices were just going up and up and we were seeing near-identical places selling for $20,000 or $30,000 more than they had a week earlier. So, not having gone through the process before, it was pretty intimidating."
Faced with a red hot market and plenty of competition from other young buyers, the Minchins were introduced to the idea of a buyers agent and quickly decided to take one on to try to get a leg-up.
"We weren't really worried about him finding properties for us. It was about whether he could get us in to see a place or even help us negotiate, and given how quickly prices were going up, we thought that if he could get us a property a week earlier it would pay for itself.
"In the end, it actually happened really quickly. The property that we ended up buying came on the market and e buyers agent managed to get us in to see it the following day and before the first open inspection. We put in an offer and the owner was motivated to sell, so we went to final offers and the buyers agent managed all that on our behalf and we ended up getting it."
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Diese Geschichte stammt aus der March 2023-Ausgabe von Money Magazine Australia.
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Diese Geschichte stammt aus der March 2023-Ausgabe von Money Magazine Australia.
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