Time could be now to buy.
Have the real estate Hunger Games ended for first-time buyers?
When Hannah Rogers and her partner Fabian Stockwin began looking for their first home together, they were understandably nervous. Over the last few years, the affordable end of the Hobart real estate market had gathered a pretty unsavoury reputation.
“At first it was pretty daunting looking for a place. We had heard lots of stories about how competitive the market was! One agent at a house we were inspecting hinted heavily that we would need to look fairly far out of the city to be successful.” says Hannah.
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Being out in the market, looking around Moonah and Glenorchy, things weren’t as dire as the couple thought.
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“It definitely felt like things were not as competitive as they were a year ago. Friends had talked about seeing 30 plus people at open homes and there was nowhere near that many people checking out the homes we were looking at.”
After a month of looking and one offer trumped by another buyer, they secured a home they’re already in love with.
“The house we bought is a little, late 1950s three bedroom weatherboard house in Moonah. It’s got some cute quirks that we love like old mirrors and wood panelling. It has a bit of a garden that is exciting for us to play with after renting for so long. It’s only going to take us both an extra 5-10ish minutes to get to our jobs in Hobart which is really great as having quick access to the city was important to us.
“When we went to view it on a bit of a whim to fill in time among other open homes, we instantly both really liked it and could see ourselves living there.”
For Hannah, originally from Yolla on the North West Coast of Tasmania, it’s been a drama free rite of passage she’s happy about.
“We are excited to get a dog and to be able to really put our stamp on a place and not have to worry about a landlord. I feel very proud of the both of us to be doing the grown-up thing of having a house after working so hard for it. It’s a big commitment to each other as a 20 something couple to both be contributing to a mortgage.”