'We could buy a million dollar house looking over the marina and enjoy life!' we gush over wine. 'Why renovate again! Life is too short!'. And this sounds like a fabulous idea - why not? We could stretch the budget. Jamie's got about ten years worth of work life left in him, and we could easily Air BNB a house like that. Did you know you can even rent your house out to porn companies for quite a bit of money? Goodness. But it's Tasmania, and the goosebumps, you know. All ethical concerns aside.
But we're not sure it's us, and houses like that are going for 150 - 300K over the list price. A million dollar house could end up 1.3 million. There's no way we can afford that.
So there's a few options on the table. The houses below could be sold before I even publish this, things are moving so fast down there.
The Million Dollar House
For 1 to 1.3 million you could end up with a house like this one. Kettering is about 20 minutes drive from Hobart, and has a stunning marina. It's just near Bruny Island. The kitchen is - um, purple? Nothing a lick of paint won't fix.
| Pros | Cons |
|---|---|
| Beautiful house | Expensive |
| Sea Views | Still needs renovations to get to what we would really think is 'us' |
| Easy to AirBNB in high season | Land is sloping - hard for cars etc |
| OMG the views | Garden would be interesting - exposed, hilly |
| Close to world class marina | Not a particular fan of the style of house |
| Right on walking trails, close to shops etc, short drive to Hobar | Last house on this road went for 1.3 - 200 k over list price |
Dodges Ferry
| Pros | Cons |
|---|---|
| Close to Beach | Block is a reasonable size |
| Could have money left over to renovate | Ugly house |
| Easy to AirBNB in high season | Dont' like the house much |
| Close to surf beach | Would need to renovate some |
| commutable to Hobart | Flat block is boring |
| Reasonable price - money left over | |
| Could accomodate family over from mainland | Do we really like the area? |
Snug
| Pros | Cons |
|---|---|
| Beautiful house | Expensive |
| No views | Still needs renovations to get to what we would really think is 'us' |
| Possible to Air BNB | Expensive - it will go for more than 985 k |
| Five sheds, a studio, a double carport, rainwater storage and lots of space | Not really our style |
| New build | - |
| Good location - only a k from beach | - |
| Great to have family over from mainland | - |
Garden Island Creek
| Pros | Cons |
|---|---|
| Very close to water | NOt over keen on the house |
| Liveable | Not a dream house |
| Secluded | Tiny house - can't have guests |
| Very affordable and lots of cash left over | Garden is too small |
| Not a bad little house | Too far from Hobart? |
| Money left over | Um - rising sea levels? |
Tinderbox
This is my favourite, but it worries me somewhat. Could we afford it? ARe we getting too old to look after a property like that? Is the house TOO tiny to be practical? This is the one I wanted you to see, @artemislives!
| Pros | Cons |
|---|---|
| OMG look at location | Affordable - to a point |
| Sea Views | We'd need to build - can we afford that on top of 750K? |
| Cute and liveable | Who's going to pick the olives? |
| Secluded | Tiny house - can't have guests |
| Easy to build garden/raised beds | We would need to build more amenities eg sheds |
| Could already live there - we are used to tiny spaces | |
| Money left over if we don't build | Can't afford to build |
And then there's the Huon Valley and Cygnet, which have some nice houses that woudl be great for permaculture gardens BUT I wanted to be close to the sea again, and so did Jamie. There's also some okay places just inland but they'd need renovation and we'd end up with the same kind of house we started with here, which took a lot of work to make beautiful. Say this one below - you can see how much work it'd need but it's only 500K, so maybe we could renovate easily.
The thing is, currently we have to buy sight unseen which is awful. What if we don't like the vibe of the place? Vibe means a LOT in our world.
I keep thinking we're going to miss out if we don't act soon, but logically that's stupid. I guess the best thing is would be just to move there and stay on my friend's land in a caravan (she has ten acres about half an hour from Hobart) and get Jamie set up with work, and then we have more freedom to look around to find the right place. FOMO is hard, but logic means that we WILL find the right property for us. At the moment, NONE of these properties are really speaking to me.
Boomer Bay
Oh, apart from this one, but that's an hour from Hobart and not in the area we want to live - AND it's over 900k. Sigh. But it's pretty perfect, don't you think? It's got land, sheds, views, everything - and is our style of house. But Jamie woudl have to work and the commute is way too far!
So, ultimately, I have to wait til my crypto portfolios moons....and that would have to be a lot, as I dont have a LOT invested. Sigh. I have expensive taste.
Please advise!
**Note ALL of the images are taken from Domain.com.au and are linked in the subheadings.
Daaaayum these prices on property that is just crazy there. My advice, never do any consessions on location. You could renovate literally everything on a house but can never change the location.
And airbnb yeah? Nice income indeed on the other hand always having someone around and not having your own spot.... I would rather have two homes on the property and rent out a small one while still having the personal space.
But this is me..you is you! Following the outcome though so I gave a place to drop by when in Tassie :D
(But location!!!!)
Oh man that is GREAT advice and SO true. In the end we may go for land in the right spot, and live in a caravan!!!
I can't imagine affording those prices! At those prices, the place would have to be EXACTLY perfect!
These are Aussie dollar prices... but still, I know. Our plans are changing all the time out of horror at how much money they are!!
Dayum! Pricey!!! Here I am trying to find a perfect house in regional QLD for no more than $300k. 😅 Was fine looking last year and the year before, but now all the houses are being bought up by interstate people and raising prices! Argh!
Then they're not right. 🙂 Don't settle for something that doesn't absolutely yell at you!! It will happen in time.
That really sounds like the best thing to do!
Thanks yes I think the caravan idea is the best. ANd you're right - I need it to speak to me. The one that did sold for 1.3 - I don't want to spent more than 800!!! We're on our second home and the price of properties went up in our area so we're all good for like for like - just dont want mortgage #2!
Sometimes I just feel more and more out of the loop; like I got left behind by the times!
There are some beautiful properties there, to be sure but the whole idea of "a million dollar house" makes me shudder. Property prices are nuts! I say that, and here in the USA, our lovely house (which we paid about +/- USD 200K for, 12 years ago) evidently has a current market value of USD 880K! How did that happen? We didn't have 400% inflation in 12 years... and our incomes sure didn't go up 400%!
Anyway, good luck with the house hunt!
Same here..we bought for 300 k, a year ago we had it valued at 700 k and now it's at 950k??? It's definitely a sellers market.
Oh My Freaking Gawd.... my VERY DEAR FRIEND Mea Souris is probably the ONLY other person living in Tinderbox!! 🤣 Stunning spot and near my all time FAV place of Cygnet. You and Mea would get on soooo well - she has lived here in Thailand for eons and is caring for her elderly mother there on a big property. She is a sculptor and artist and writer and just the coolest person who knows everyone down there. She has a stall at the Salamanca Market in the season.
DMing you her phone number in discord. 😍
Thankyou!!!!! I don't know if we can afford it but... it looks amazing. Properties are selling for waaaay over asking price so don't like our chances!!!!
Very expensive 😉 I can never imagine having a house worth more than 100k range.
It's all relative to where you live. We bought cheap about ten years ago and property prices have gone up a lot!!!
100% agreed 🤛 everywhere same situation - property prices will always go up as population is growing - so I am moving away farther 😀
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Up here in Sydney you can get half a parking spot for a mil. Crazy up here
I know Sydney is crazy!
Wow. I rather buy a tent and live under the clear sky than spending these money on overpriced concrete.
Did you know you can even rent your house out to porn companies for quite a bit of money?
What a chore would cleaning be and sanitizing again your home after that hahahah.
I think that it is better to make big decisions under less pressure, when we are stressed and rushing we tend to not see the full picture.
I know, I was giggling the other day: 'Honey, have you seen the pastry roller?' :P
Last night we sat down and talked about it and decided we might hold off a month or two for that reason!
You took a very good decision, there is no reason why you should hurry and pick a house under pressure!
Holy cow, the views! I like the inside vibe on the Tinderbox. Boomer Bay looks massive. For 900k you'd get a heck huge mother loader of a property in Brazil--if I had that type of money, on cash, I'd defo invest and use the earnings to rent or live around the world.
It sounds like a lot, I know, especially to global Hivers. But it's also in Australian dollars, and considering we were broke when we bought a 300K house then the market went up, we're by no means rich. I dont think we'll stretch that far though because I dont want another mortgage.
Housing market is going crazy around the globe it seems. Construction material has skyrocketed. Now interests are going up to counter inflation; gotta pray for people that have non-fixed interest mortgages. But still, with those views! Waiting to see what you two will discover over there.
All those look like holiday properties to me, not a home like the one you have right now. Sure, it probably could be fashioned into one, but a million dollar for a porn mansion without seeing it first?
I'd really opt for the caravan in a friend's place option. Usually being on location yields better results. Also you could probably talk with an owner directly and skip the property agents.
Some really great places with some spectacular views.
It looks like you are approaching everything very methodically,
Weighing the pros and cons of each possibility paints a much clearer picture.
The homes that check the most important reasons for relocating will make their way to the top of the list.
Prices of Real-estate seem to be skyrocketing all over the place.
Homes back in New Jersey, where our kids still live, are hitting the market and sold within 24 hours, going for 25 % over asking price,
The advice I give my daughter, who's looking to purchase her very first house, is take your time. I believe the housing market is going to have a correction and prices will somewhat return to normal.
For me, this would be a deal breaker.
(The thing is, currently we have to buy sight unseen which is awful. What if we don't like the vibe of the place? Vibe means a LOT in our world.
I don't know how else to put it, but if you don't like the vibe of the place and the dirt is now yours, your f--ked.
Take your time my friend, you may not yet be living at your dream location, but from what I can tell by what you share with us on #hive, you guys seem to be comfortable with your present situation.
Well thought out dreams have a better chance of becoming a reality.
Peace @riverflows