Thursday, March 11, 2010

4th time lucky?

So we may have finally bought something. It's not a house, but a townhouse. We were originally staying away from townhouses, because you don't get any land, and there's not as much capital growth. But it's a really good townhouse, and rather than sell it in 2 years, we'll keep it as rental income. It's currently getting $460 a week, so we think by the time we move out, we could probably charge around the $500s, which will mean it basically pays for itself (depending on how much we pay off the loan).

We decided to buy it because a) we're sick of looking, and b) it has everything we would want in a townhouse. We had previously said if we got to April and hadn't found a house, we would start looking at townhouses. So we're a bit early. But it is a very good townhouse. It has:

-4 bedrooms (yay! an entire room for my clothes!);
-double lock up garage;
-tri-level (master bedroom way apart from everything else);
-small courtyard (with space for a herb/vegetable patch);
-air conditioning on all levels;
-ensuite to master;
-security system; and
-gas kitchen.

And it's in a very quiet area. We were sitting at the dining table signing the documents, with all of the doors open, and we couldn't hear a thing. Such a difference from our current place (we're on a main road). It's also a pet-friendly complex, so no more hiding the kittens.

My only caveat on buying it was that I have to be allowed to redo the kitchen within the first 6 months. It's only a relatively new place (2 years old), but the kitchen is ridiculously small. There are only 9 cupboards in it (I have 16 in my current townhouse, and even that's not enough), and the oven is so tiny I doubt you could fit a tray of biscuits in it. So yeah. I told William I would agree to buy it if we could redo the kitchen very quickly. There is no way I could function with that kitchen. It's ridiculous.

But anyway. We've got 14 days before it's unconditional, so we're not in the clear yet. I just hope this one doesn't fall through like all of the others.

3 comments:

Giggleworthy said...

Yay you! That is very exciting :-)

Have you drawn up plans for the new kitchen yet? /grin

Perseus said...

Congratulations!*





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Mars said...

Pics please!