Wednesday, April 20, 2011

Upwardly mobile

I've been cruising real estate websites while I've been off work (the back injury is healing...so is the throat infection that I got from hanging out in doctor's waiting rooms too much). Part of this was looking for a friend who is genuinely in the market for a new house. The other part was me wondering if there was anywhere in Melbourne I could afford to buy a place. Turns out that the answer is no.

Drives me a little crazy to know that although searching all of Melbourne in my price bracket returns 8 pages of hits, not one of them is suitable. I don't qualify to live in student only developments - and my God, there are a hell of a lot of them, fully furnished one room and a toilet style - nor am I in the market for a car parking space in the city. So I started looking a little further afield. And then I found it.

I found a nice looking block of land on the Melbourne side of Bendigo. Or was it Ballarat? I can't remember now, and it's not vital. Either way, it's about an hour from where I live and work now. A little more research, and I found that I can build on the block for about my price limit. And building in a regional area, I could even get a bigger grant from the government. So there you have it. About an hour out of Melbourne, I can afford a house. Hell, I could maybe even save a little, based on what the mortgage repayments would most likely be, assuming I was earning the same as I am now.

But there's the rub.

There are next to no jobs listed in the country that I qualify for. Nor are there people that I know. Sure, I have ideas on how to meet people when moving to another place now. But do I really want to do it, just so I can have my own place? Surely there is a better solution out there...Trouble is, I have no idea what the hell it is. As a single person who doesn't work in a well-paid industry (or at least for a generous employer), and someone who hasn't managed to save due to a debilitating travel habit, I have no deposit saved. Property prices in Melbourne have risen over 100% in the past decade and, although the market has slowed, are still continuing to go up. So where does that leave me? Renting, that's where it leaves me. Until I decide that the country life is for me. Then? Well, we'll see...

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