== MARCH 2009 FOUND OUR PROPERTY ==

Because I am mostly at work, my wife did all the running around, and contacting sales agents, and meeting with house builders to see where else we can get a property that is within our limit.

My wife has found a house on www.realestate.com.au which was only posted 20 minutes ago, we looked at it, talked about it and short listed the property we want with the rest, at the end we settled on this one property.


A view plan of the house facade on completion

It was a House and Land Package building off the architecture plan, the house design is unique.
This property had all the top fittings included and was well below our budget with $10,000 more to spare the cost of the house and land package is $297,000, this was also in a perfect location and was a great bargain for its price as all property around us were selling for over $330,000. But before we get too excited, We did more research on our own, and what are the benefits and any negatives of this property, and thank god what we found this property is excellent for investment and capital growth plus its great for our three kids.

Some the research we found why this is the best property to purchase.
All of these are less than 5 minutes drive from the property which is excellent

• 2 minutes drive to the freeway bypass, and less than 15 minutes drive to my work at Melbourne CBD.
• 5 minute walk to the school, two schools are being built Catholic and Public schools they both will be completed in 2010.
• Very cloes to malls and shopping centres being built completion date at 2010.
• Two minute walk to the park which has a playground and basketball court
• Very quiet area, peaceful and no crime
• 2 minutes drive to the train station going to Melbourne City.

We called the Agent who is handling this house and land package. We knew that this property is a hot property based on the basis of its location and its price. We knew this will be cheaper as it is being built of the plan unlike other builders which have a display home making it more costly for buyers.

After all the dramas and past frustrations, thus our journey now begins. Because of our past experience losing one of the great locations, we advised the Agent that we need to place a deposit ensuring both House and Land are secured, he advised to see him after two days because it is his day off, I insisted to see him on the same day because I know for sure this property will not be available in two days. So he agreed for us to see him on his day off which is the next day.

Tuesday, 3rd of March, 2009

On this day my wife and I have put a down payment of $1000 to hold on the property. $500 goes to the Land and the other $500 goes to the House.
We have been speaking to our real estate agent who is liaising with the builders.

Thursday, 5th of March 2009

We went to see our Home Loan Officer. She has ran some stuff with us regarding our Home Loan, and which method is the best. My wife and I decided to stick to one particular plan. This is to pay off our car by borrowing money off my mum, in turn this increase our credibility with the Bank.

My wife and I have put down $2000 which is to secure the house and land to sell off to us. $1000 goes to the land and $1000 goes to the house. We discussed the plans with our real-estate agent and have modified a few changes the list includes.

• Increase height of ceiling to 9ft instead of 8ft
• Lengthen the Kitchen Bench all the way to the wall
• Laminated flooring on all bedrooms
• Close off the study room
• Add a door to the Masters Ensuite
• Add a window on the wall next to the sliding door next to the kitchen
• Swap the Pantry and the Fridge around
• Swap the Toilet and Basin around
• Add a automatic Panel garage

The cost of this upgrade is $10,000 which we have enough of on the budget.

After we have decided finally that this is what we wanted and have agreed to modify the changes our real-estate agent has now sent it back to the builder and for the architects to re-draw the plans for the house.

We have also gone and looked for a solicitor. The solicitor has had a look at our contract of sale and has sent a copy to our Bank. They are also now liaising with the Bank and our Builder to organize the smooth building process of our house.

We have now agreed and settled on the land in which we now have to pay $4000 to complete the 5% deposit on the land, we had till 31st of March to pay this as the Land value will increase therefore the builder will need to fork out the money to pay of the difference and which it will increase the price that is given to us.

After a few issues with the solicitor, and bank we have agreed to pay the $4000 and have signed the deal, we are now locked in and currently only as a nominee under the Land contract of sale. In order for use to get the full contract of Sale we have to sign the Build first so that the Builder will transfer the land title fully to us.