Unheard of – Part 2

May 17th, 2012

Hello and Welcome

Yes I am aware that you are only getting this blog once a fortnight and that is about all I can handle at the moment. Why is that you say? Well I am sure this week’s episode may explain a few things (actually it will be the next episode that explains why life is busy but I want to keep the excitement up for this one).

Unheard of – Part 2

Where we left you last time we had a young couple who were expecting their first child and were on the look out to buy a property in a city that is listed by the Huffington Post as the 7th most expensive city in the world to live. We were also at a junction of what to look for to buy. Do we buy a 2 bedroom place that we can afford now but will be too small for us in 3-4 years; or do we stretch and borrow extra money for a deposit to get a 3 bedroom place?

Now I don’t know what the housing situation is like where you live is but here it is ruthless. Where I grew up everybody owned a house, in fact I didn’t know a single person growing up who lived in a unit. But my Princess who has spent most of her life in Sydney, has never lived in a house. That still blows my mind – she grew up living in a unit whilst I lived in a house. But the even crazier thing is that the units where My Princess grew up in are worth more than a lot of the houses where I grew up.

So we didn’t know what to do. Yes I had just got into banking but I had no idea on investing in the property market. I need to emphasis that – I have no idea about investing. Literally no idea, that is why I have never done any. I don’t have shares, managed funds or even a poker table. Not that these are not a great thing to do, but it has just been that I have had a bigger priority: I find a place to house my family. So not knowing what to do I decided to set a faith goal and I did. When I paid rent online one day, I put as my transaction description that appears on my statement “Rent – 15 to go”.

What was I doing with that little narration? I have speaking in faith that in 15 more payments (30 weeks) we would stop paying rent forever and we would be living in our own place. This was a crazy thing to write as I mentioned before it is not easy to enter the property market in the 7th most expensive city in the world. But I stuck to my guns and every fortnight I spoke in faith as I paid “Rent – 14 to go”.

Now shortly after I started counting down we found the three bedroom place I was talking about last episode. We were torn as this place looked good enough to be able to live there for the next 5-7 years as it would have three bedrooms; but we would of had to borrow money from our parents for the deposit and have a very high loan which isn’t wise for a newly-married couple with a baby on the way (that is the bank manager in me talking now – very good advice though). So we walked away.

This was hard because we thought it was perfect and we had the awful task of continuing to look. And we looked and looked. A month went by, then another and a lot more and we started to feel like it wouldn’t happen. My Princess’ baby bump was getting bigger and bigger and we were running out of time to get that extra government bonus we had already talked about. Then…… we found it.
We sort of knew before we even saw this place that this was it. We took a quick look at it and made a decent offer. I personally don’t believe in playing games when it comes to these things like starting incredibly low and working our way up. So we made a strong offer only $10,000 under the asking price. This was lucky because we only got to make one offer. The real estate agent had a few offers that day and ours was the best so they sold it to us. No one got the chance to make another offer. We had bought our first place.

During this whole journey every time I would pay rent I would still count down “12 to go”… “11 to go”… and when we made an offer on this place we were down to “4 to go”. By the time we moved in I had to pay a final few days rent on our old place and no word of a lie the count had gotten down to “0 to go”. It had been 7 months of speaking in faith and it happened right on time. Totally unheard of.

Now that was 3 years ago and the story is not over.

To be continued…

Have Fun.

Dan

This entry was posted on Thursday, May 17th, 2012 at 11:40 pm and is filed under The Main Event!!!. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply