Cheyne & Andrea talk openly of their First Home Buying experience

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Video Transcript - Opening

Cheyne:

So, I guess we'll talk about our personal experience with Darryl and Latte Property. For us going to auctions or buying existing property and [you know going to] searching for houses every weekend wasn't really feasible with being short on time and having a family. So buying Off the Plan was pretty much the best option for us. We found that from speaking with Darryl we were able to find out things that we didn't know and couldn't have found out on our own. And also I guess having all the information put together as [I guess] one single package, for us to be able to make the decisions and having a portfolio of properties that were [kind of] off the market. So buying Off The Plan and getting things like 'First Home Owners Grant' just worked perfectly for our situation.

Andrea:

I think for us also having a property become available to us before going to the public was a good thing because [you know] we were able to get in first [I guess] and see what we wanted and get first pick of the bunch. So that was a big help as well.

Cheyne:

As well as not having any surprises, having a bit of choice as well with the house we bought we were able to choose things like bigger ovens, able to change the upstairs [ was going to be] a toilet into a pantry. Changing the things like the style of cupboards and the cabinetry. Which you don't have that option or if you're going to buy a new house, or build it, we're not builders, we're not renovators.

Andrea:

We wanted to buy something that was existing and not able to do any work to it, we don't have the time or the patience to renovate.

Cheyne:

So we also had [I guess] like a menu of properties to choose from and we could select the area that best suited our needs. With auctions, we're basically just terrified of auctions, because you don't know were it's going to go. We just went to a few out of interest to see how they go and how they pan out and every auction we went to was like $100,000 or $200,000 above what the list price was. I think for us the stamp duty savings were pretty substantial and I think what we paid was about $5,000, which is pretty decent. Because we had an estimate on how long it would take for the property to be built that gave us a goal to set for our savings so [you know] while we were renting we were still saving $2,000 a month, which was great to build up to and work towards getting a large deposit, which meant we didn't have to borrow as much as well. And we had obviously our First Home Owners Grant it was I think First Home Buyers Boost at the time, which was amazing for us. And the other thing that was the whole plan from the start is that having a long term goal so that we can have the townhouse that we're in as an investment and then down the track when we have a bigger family, to upsize and then use the equity that's built up in this house to be able to move to a larger property. So we wanted to have a townhouse in an area that would [you know] have good growth and then move out to a bigger place closer to the family, closer to the parents, and we're definitely on track to doing that. So I think in the next couple of years we'll be able to rent this place out for a decent amount of money, we spoke to the neighbors and their getting a pretty good rental income, which pretty much outweighs what we're paying in mortgage repayments, so then that cancels itself out and we're going to be paying for a new house, a bigger place out in the suburbs. So works well. We wanted to live in this area because we knew it would be good for future, when we wanted to rent it out, it's a good investment.

Andrea:

And Darryl took us to all of those locations so we could check out the land and the surroundings and see what was available, we chose the one that best suited us.

Cheyne:

And Darryl has been great to deal with, always on call, always able to provide us with the best information, never too busy, which is great. And the people that he's got working with him are just amazing as well, great to deal with, from start to finish. I think actually when we signed for this property we were at a pub. I think we celebrated before we actually bought it. So yeah, most deals are done over a drink I think. So yeah, don't have to go to an office, Darryl comes to you and just makes things easy. Especially with a little one, he comes and works around our time, which is nice.