First 'home' buying

[Grahameeboy]

Property works, in 4 years we've gained on paper the equivalent of 1 1/2 years income after tax.
For doing nothing but live in it. But we did buy at the start of a boom cycle and rode the wave.
I've never not made money on houses. But there are traps, especially the 'leaky house" issue.
When buying, you have to know when to walk away. We did with our first choice, it got into an informal auction (multiple offers). We withdrew our offer after the first evenings negotiation. Then a better house came along as they always do.

I can beat that Lou...my house has almost doubled in 4 years......I expect your usual standard of reply..

[Lou Girardin]

I can beat that Lou...my house has almost doubled in 4 years......I expect your usual standard of reply..

Congratulations?

How about, we gained a 125% pa return on our original investment - tax free.
Gotta resist looking at all that equity with one eye and the other on more toys.

[Grahameeboy]

Congratulations?

How about, we gained a 125% pa return on our original investment - tax free.
Gotta resist looking at all that equity with one eye and the other on more toys.

Put those toys away Lou......reckon I owe you a beer