My Journey to Buying One of Melbourne’s Hottest Properties

Buying a Property 2Before I bought the Melbourne hottest property and live the life of modern convenience, I have to admit it was never easy. I was confused whether to buy an apartment or a single detached home.

I was with a friend during one of my daily morning rituals, with a hot cup of coffee enjoying my favorite pastry in a Melbourne coffee shop not far from where I work, when I met Peter from Chilli Realty real estate agencyI was telling my friend how confused I was whether to get a single detached home like my family did in the past or should I go and take an apartment instead. We had some friends who lived in apartments but mostly in single detached homes like I did. Perhaps Peter overheard us and decided to join in and share his thoughts.

Well, what Peter shared more than validated my earlier assumptions about getting an apartment instead of a house and lot. I knew apartment living is more convenient and offers me the kind of lifestyle that I truly deserved. Don’t get me wrong but I don’t think living in a single detached home is practical if you are living in the city. If you are in the suburbs of Melbourne, probably a single detached home might be a very good buy. But I wanted to live where the action is. I wanted to live in a property that allows me access to all of the things that I enjoy the most. I don’t even have to drive to work because I can simply take the mass transport system or just pedal my way to work.

The properties Peter’s realty, Chilli Realty, showed me that time were truly amazing; on paper, at least. And I could tell that every single unit of property the realty is selling has been dutifully maintained. So, eyeing a particular property, I set up a schedule with Peter so we can visit the said property over the weekend.

I gathered all of my financial documents later that night. The following day, I asked for permission to go to work on a half day so I can have my loan application preapproved. I went to two financial institutions in Melbourne and submitted a copy of my documents in order to get preapproved. Peter told me to have preapproved if I am not going to buy the property on a cash basis. This way, I will have an idea of the amount of loan I am entitled to borrow based on my financial standing. Peter also said this will save me the hassle of getting preapproved only to find out the dream apartment is clearly way out of my league. So I did just that.

With a working knowledge of how much I am able to loan from the financial institution, I called a friend who had a property inspector friend and asked if he wouldn’t mind accompanying me to the property I am scheduled to visit and inspect with Peter that weekend. Thankfully, he agreed and since we have a common friend, he was prepared to inspect the property for free. But I was prepared to give him something afterwards.

Well, to cut the story short, weekend came and we visited the apartment. It was truly a lot better up close and personal than it was on the portfolio brought by Peter in our initial meeting. The apartment was very modern complete with all the fixtures of a modern home that you can ever think of. I knew I just had to have this apartment. And I also knew that I am being emotional already. And when buying anything, the last thing you will ever need is to buy on impulse. So, I had to calm my excitement and wait for the inspection of my friend’s property inspector friend. When he gave me the thumbs up sign, I knew I have found a gem. And since I was already preapproved and knew that the loan amount is sufficient to cover the purchase of the apartment, I knew the last thing now is to get all the paper works done.

Peter was kind enough to show me all the details of the purchase. I also asked if I could review first the contract before signing and he readily obliged. I brought the contract to a lawyer who gave me the go signal as there was simply no issue that he could foresee. And the rest is history.

I am now living in one of Melbourne’s hottest apartment units and loving every moment of it. Access to everything that I need can be reached by foot without any hassle or stress. If I was able to attain this dream, you too can live yours. It is just a matter of making sound decision and weighing the pros and cons of the property you plan to buy.