Real estate prices in Sydney were already sky rocketting. Here we were like most of the first timers in the house market ,waiting for things to settle down or saturate. However having observed for a couple of years we decided things may not be changing much. Also we were paying someone else’s mortgage. Instead we decided time to build our own nest.
We started accompanying friends in their inspections for already existing properties. However I was keen to move into a brand new place. So dropped the idea of buying an existing home,though some of them were quite inviting. Second thing was to buy an old home with a big land area ,knock down and then consider subdivision and rebuild. With advises from friends and family we decided not to go that path as it was quite tedious and in terms of costs also there was nothing within our budget that was upto the mark.
Now our close family friend was already building a brand new paradise at Western Sydney.He gave us plenty of advice on what to look for . We made a trip to that area and after a couple of months saw a few advertisements and zeroed on a block of land.
Our land area is 403sqm. We got our finances for the initial deposit together.Contracts were exchanged in a matter of few days. (we unfortunately had to pay the stamp duty as laws got changed after few months of our contracts exchange).
Now was the time to wait for our plot to be registered and meanwhile do the builder selection.