First auction ever!!!

I've just bid at my first auction ever! (that and i've drunk a heeeeap of coffee and am buzzzing around like mad)

So yes..I just bid at my first auction ever...I pulled out ar $402,500...but i got there from $350,000 :P

Got a few odd looks too :P

Overall, very good fun...and a nice rush. Pity it was bought by a business in the end...damn rich people.

Oh well...anyone else bid at an auction before...and if so....did you win?

Zac

hope you were bidding on a house and not a dub😁

We bought our last house with a post auction offer.
We wanted the house but hadnt sold ours - private treaty
Would NEVER buy before i sold. Briding finance can REALL be a killer

The day of the auction ours sold
The house we wanted went to auction and failed to sell.
They got $180k and wanted $230k. It was a deceased estate and they were hungry for money.
I offered 190k and they agreed.

Yes - this was 1991. House prices have increased since then

Dont think i could ever buy at an auction. The head starts to take over.
What ever you NEED to remain calm.

Good on ya for buying a house though

i didn't buy it.

and personally...i thought it was overvalued when i pulled out at 400k

good luck to whoever did buy it tho,.

and yes...it was one hell'uve a dub. i mean...house 😉

Man, that sort of money makes my head hurt. I couldn't imagine borrowing that much moolah from the bank. It scares me.🥷

Mmmmm... I cringe at the thought of having to pay that kinda money back to somebody with interest! :jesus

I bought my first house - a one bed terrace in Balamin in 1985 for 59k

My neighbour next door was laughing his head off cause he bought in 1982 for 18k

A year later my other neighbour who bought for the same $$ sold for the same $$ 12 months later.
The person who bought sold 12 months later for $150k

I hate to sound like an old fart but the sooner you buy property the better you are.


Especially once you deduct rent - you cant loose in the long run with property.

Stuff superannuation

[ Edited on 24-6-2006 by Bizarre ]

for those in melbourne...this was in richmond...a couple of streets behind 'the depot' (swan st)
(and right next door to a mechanics/restorer)

Schmoburger wrote:I cringe at the thought of having to pay that kinda money back to somebody with interest!

Your happy to pay that sort of money in rent to some sod who is getting negative gearing to pay off HIS investment mortgage??

i died at the thought at having a 50k mortgage 20 years ago.

IF ONLY now!!

i know my flatmate who i pay rent to (he's also the owner)...spends all the rent i give him...so i know he's not paying it off :P

BUMP! :bounce

U must be buying a house.... What do u get for that money in Melb

yeah auctions r a good rush....

I bought a footy jumper signed the other nite at a Trivia nite for $300.00 its great

We bought our place at auction 9 years ago near Blacktown in Sydney. It scared me half to death. Luckily my dad sat next to me with his hand on my arm and told me when to bid. Should have seen the look on the other bidder's face when I said, "108 thousand dollars". He thought he was about to win. ha ha ha.😂

We paid $115k. At the time I remember being a bit disapointed I had to pay more than 100k for it.

Now the land alone is worth over $300k. 🙄

I agree with Bizarre. Buy as soon as you can. Buy what ever you can afford, flat, house, WHATEVER, but get into the market and start paying it off. I have 3 brothers and I'm the only one of us with a mortgage and my wife and I are far more financially stable than the rest of them put together. And that's even with having studied full time 7 out of the last 9 years. Rent money IS dead money.