Hello everyone, welcome back to my channel! I'm Joyce, and on my channel, I mainly share my experiences working and living in Australia. Today, I'm finally giving you a tour of my new home! Before we dive into the apartment tour, I want to take you through my criteria for buying a house, the buying process, and my experiences since moving in.
My Initial House Hunting Criteria
Let's start with the conditions I had when looking for a house. These were initially for renting, but evolved into my buying criteria.
-
Proximity to a Train Station: It needed to be close to a train station, with a commute to the city not exceeding one hour.
-
Limited Transfers: Commuting should involve no more than two modes of transport, ideally walking to a train station for a direct route to the city, followed by a single transfer.
-
Walking Distance to Amenities: A supermarket or shopping center within a 10-minute walk was a must.
-
North-Facing Orientation: Prioritizing a north-facing house to maximize sunlight and ventilation in the Southern Hemisphere.
-
Large Windows and Natural Light: I wanted large windows, preferably floor-to-ceiling, for ample natural light.
-
One Bedroom with Parking: The ideal property would be a one-bedroom apartment with a parking space.
-
Proximity to a Gym: A gym within walking distance was highly desirable.
-
Decent-Sized Kitchen: A kitchen that wasn't too small.
Why I Chose This Area
I chose this area for a few key reasons.
-
Convenient Transportation: The transportation options were a significant factor.
-
Established Community: The area was already an established town, unlike many new apartment developments in Australia. I prefer having access to local shops and smaller restaurants, and dislike relying solely on shopping centers.
-
New Construction: The apartment was newly built, which meant I wouldn't have to worry about pre-existing issues or costly repairs.
-
Complete Interior: The interior was already well-furnished, eliminating the need for additional renovations.
I ultimately chose this apartment because its layout was similar to my previous rental, which suited my current lifestyle.
The Buying Process: A Step-by-Step Account
The process of buying a house in Australia can take many forms. I worked with a trusted agent who managed the complexities of the process.
-
Leveraging Existing Documents: I already had essential documents like financial statements, pay slips, passport, and personal information readily available due to prior visa applications.
-
Pre-Approval: I initially contacted the agent for pre-approval, which helps determine your borrowing capacity before committing to a property. I got ahead of myself and ended up choosing a property during the pre-approval phase, so we moved directly to applying for a loan.
-
Loan Application Complications: I encountered an unexpected hurdle when the bank I chose (due to its low interest rates) assessed the property's value lower than expected through a third-party evaluation. I had assumed the bank would lend me the desired amount if my income could cover the repayments, but that wasn't the case.
This situation led to a setback, forcing me to find a new bank with a more flexible evaluation process. The salesperson for the new apartment was extremely helpful. He provided a list of banks that had successfully financed similar properties, which helped me secure a loan. This experience taught me the importance of thorough research.
Life in My Own Apartment: Adjustments and Joys
Living in my own apartment feels very different, though it also comes with adjustments.
-
Financial Pressures: Mortgage payments, management fees, and government taxes create financial pressure. Although I had previously paid rent, the additional costs related to property ownership are significant.
-
Lifestyle Changes: To manage these expenses, I have had to adjust my lifestyle, potentially reducing socializing and travel opportunities.
-
Sense of Security: Owning my apartment provides a sense of security, and outweighs the burden of potentially needing to move again every year and the associated stress of searching for a new place to live.
-
Long-Term Planning: This sense of security allows for more long-term planning in my life and career. I can now adjust work around where I live.
Initially, I wondered why people didn't furnish their homes completely upon moving in, but I now understand the reality of budget constraints after the initial expenses of buying the house.
-
Prioritizing Needs: Now it's all about prioritizing needs like needing to replace my bathroom glass door. During the initial viewing of my house, I saw that other models of the same style had the glass door to prevent water from getting on the floor, but mine did not.
-
Gradual Improvements: I plan to gradually make improvements and transform the space into my ideal home.
The apartment's layout is similar to my previous rental, which made the transition smoother. Initially, I was concerned the new apartment would be smaller, but it turns out to be much larger, putting me at ease.
Future Content
I plan to share more detailed information about finding a house, the buying process, selecting a broker, choosing a bank, and required documentation in future videos. For now, I want to focus on this apartment tour.