First Home Buyer Below Market Purchase
BOOM ANOTHER ONE....Purchase #57 by Easy Buyer's Agent. This time it's for a First Home Buyer client who has spent years looking for her first house to now finally be able to make that decision to purchase. Asking: FROM $425,000, Purchase: $417,000, a 3-bedder sitting on 710+sqm land. Similar properties in the area have sold for at least $435,000. Read on.
Our client is a First Home Buyer looking to buy a property which she can utilise the stamp duty concession ie. below $430,000. Suburbs need to be close enough from where she works.
Finding a property for owner occupier is always interesting. While an owner occupier is generally willing to pay more (which works in her favor especially in the current rising market), however, the requirements for the property itself can be challenging. For our client, the property needs to be within 25 minute drive to where she works in East Fremantle. She also owns a dog therefore the property must have good land size with backyard (450sqm minimum).
If you know anything with suburbs surrounding East Fremantle, finding a property sitting on 450sqm with price below $430,000 is almost an impossibility. When she first came to us, few of the properties she considered were at least in the high 4s. This means, even though she might still get a discounted stamp duty, she would still need to fork out thousands of dollars for it.
But this is what Easy Buyer's Agent is engaged to do, that is to find a matching property regardless of how difficult the requirements might be. Using our knowledge on the WA market, we quickly proposed several suburbs which we think will be suitable for her. Long story short, we found a matching property: sitting on a 710+sqm land with good size backyard. It has an ample side access. In fact, there might be a future plan for the council to allow battle-axe subdivision. It's located within 20-minute drive from East Fremantle.
In this rising market whereby negotiation is a rare occurrence, we still managed to negotiate $8,000 off the asking price. And even though this is for owner-occupancy, we always like to give our client an investment edge. Similar 3-bedders have sold for more than $435,000+ in the area. There is plenty of room to create equity.
Looking to buy property in WA? You know who to call. If you are undecided or probably not confident enough to execute the purchase, we can be your working partner who can support you in your journey. Don't let the stress of property purchase gets the better of you. We have information on more than 300+ suburbs all across WA. Get in touch now, consultation is free. Until the next purchase. Peace.