My mum has been looking for an investment property and the last couple of weekends I’ve been going out looking at places with her. Chances are that Mike and I will be renting from her wherever she buys.
Yesterday we saw three places we liked. Three very DIFFERENT places.
Place 1 – “The Parkwood House” is a 3 bed, 2 bathroom house with a large fenced yard. Great for a family, especially one hoping to get a puppy in the future!! Needs new carpet/flooring and a fresh coat of paint on all the inside walls.
Place 2 – “The Townhouse” is a 3 bed, 2 bathroom townhouse that is absolutely gorgeous. No yard, but very modern, upgraded kitchen, terracotta tiling, new carpets, large bathrooms and bedrooms…just lovely. Going to auction Thursday.
Place 3 – “The Beechmont House” is a 4 bed, 2 bathroom restored Queenslander that was moved from Brisbane to its current location “up the mountain” in Lower Beechmonth. It was bought and relocated by its owners, then renovated. They did a great job and my sister fell in love with it the second she walked through the door.
Mum’s first option was the Parkwood house, but she found out today that someone made a cash offer on it earlier today. So my sister and I called her and talked to her about the Beechmont House. We argued yesterday over who would get to move up there. I made a pros and cons list but I’m not sure which one out-weighs the other. The drive up and down the mountain on a windy road every day would probably not sit too well with me. I don’t think I’d get sick, but I do think that I’d worry about accidents, especially in wet weather. Its quite a view from up there though.
So mum then called back to let us know the townhouse agent had called and mum told her what she could afford and that we assumed that was nowhere near enough for the townhouse. The agent asked her if she’d be willing to put a contract in on it and mum said, “Yes.” So supposedly that’s going to happen tomorrow. The agent said, “I’ll present it to the owner and all he can do is say yes or no.” This has me a bit puzzled. What mum is going to offer, well, I thought they’d be aiming for about $100k more than that amount. So I don’t imagine the owner would accept it. Two years ago one of the townhouses in there sold for $380k and another for $450k. We’re offering less than both of those. But why would the agent go through putting a contract on it if she didn’t think there was a chance he’d accept the offer? I know you don’t always know what other peoples’ financial situations are, but…it just seems too good to true, and you know what they say…
In an ideal world, we’d live in the townhouse during the week (it’s 5 kms from Mike’s work) and the Beechmont house for the weekend. It is so peaceful up the mountain! Ultimately, the decision is up to my mum I guess.