(no subject)

[theducks]

Dear potential sellers of property,

A renovated 3 bedroom house in Greenwood is seemingly worth $395k (1, 2).

Given the above, despite what you may believe (or your unaffiliant and overly optimistic real estate agent), an unrenovated house a few streets away is NOT worth $390k (here). People don't pay for potential. People pay LESS because of the potential, generally by the amount it would cost to bring it up to spec, and minus a profit margin.

Sigh.

Comments

[theducks.livejournal.com]

Nah.. it's all too expensive, especially when compared to how much more it would cost than what we pay in rent, not even considering how much transport to and from work each day would cost us.

I was looking at prices in Melbourne and Sydney last week.. it's cheaper than here. Sigh. So depressing.