oc | Tuesday 31st March

Walking The Walk

So the talk is over, now its time to walk to the walk.

For 20 minutes a week over the last 7 weeks of this series you have been given the keys to a happy homebuying life.

You have been given a million dollar gift as promised.

Question is; will you take that gift, open the door and walk into a life of reasonable affluence or will you remain a victim of your upbringing, your educational environment and your everyday habit energies.

Right now it’s your .

Are you are chocaholic decision maker/homebuyer or do you have inner gumption (love that word) to do the right thing for you and your family?

My after dinner routine goes something like this: around 8.00pm I feel like a chocolate – I tell myself that I’m overweight and that chocolate is not helping me, but then I go to the fridge, get a chocolate and eat it.

I’ve received a cue, I’ve made a decision, I’ve acted and I have achieved an outcome.

I’ve made a decision, but is it a good one?

Is making a decision on buying a home for you much like deciding to eat a chocolate?

Or are you prepared to break your habitual chocolate cycle by making some good decisions?

A quick recap on what we’ve learnt

  1. There are good homes and bad homes for young homebuyers. Southbank v .
  2. Your good decisions, nobody else’s, will get you the good home. The internet is not a solution, you’re the solution. The selling agent is not the problem, you’re the problem.
  3. A good FFF AND PPP plan for 10 years rather than just your “PPP Now” plan will give you lots of free money
  4. Try and buy an older home in with and ok floor plan to live in for 20 years. As you go through the 9 stage life cycle, from no kids to young kids to older kids back to no kids again and you will receive a (tax free) by doing nothing. It will eat your super for breakfast.
  5. Go through the proven due diligence process BEFORE you buy – its great hourly rate work.
  6. The only person that decides good is not me, not the agent, not your dad – it’s YOU (providing you are informed)
  7. Engage a suitable experienced professional, such as a buyer advocate to Value and for you.

What’s this $1,000,000 in my back pocket for free stuff again Mal.

Apartment In 2000 a young home buyer bought an apartment in Docklands at 15 Caravel Lane for $507,500 and resold it for $576,000 in 2014.
Money in your pocket – Zippo

Inner Melbourne Around 2000 a young home buyer spent similar money on a family home in Celia Street Glen Iris $493,000 and sold again in 2014 for $1,500,000.
Money in your pocket – $1million

Outer Melbourne Around 2000 a young homebuyer bought Barrington Drive Pakenham ($134,000 around 2000 and resold for $285,000 around 2014).
Money in your pocket – not much, especially if you now want your kids to go to school near Glen Iris.

Lets deal with the excuses as to why you cannot be the Celia St buyer.

Excuse 1) I don’t have any money – I’m struggling to get a deposit and once I do then Barrington Drive (Outer Melbourne) is all I can afford?

Do not make this excuse please. Read these books please.

  • The Millionaire Next Door – Thomas J. Stanley, William D. Danko
  • Your Money or Your Life – Vicki Robin Joe Dominguez

Excuse 2) I’m an unlucky person – my lot in life is set and I can’t change.

Do not make this excuse please.

  • Youtube Tony Robbins or read some
  • Thich Nhat Hahn Books – both very real and ethical motivators.

Excuse 3) It can’t be this easy – it has to be hard to buy well and make a million dollars.

Do not make this excuse please. Read these books please.

  • Read the Australian Author – any Jan Somers property book or
  • Brian Tracy (Goals)

If I can leave you with my strongest six pieces of homebuying wisdom

  • Happy life – happy wife
  • History repeats itself unless you break the cycle by breaking your habit energies.
  • Good decisions and bad decisions take the same amount of time and angst – only the quality of the prep is different.
  • Time heals or hides nothing in Melbourne property, it only accentuates.
  • No definition of value maintains its rigor for all men and women accept value to you.
  • In negotiation the closer you are, the more you talk about money and the more you talk about money the further you drift away from getting what you really want.

Thank you for reading and good luck never hurts, so good luck to you all as well.


Thank you’s for a lot of people that helped put the Young Homebuyer series together.

The idea’s girl and driving force behind me writing it: Eileen Berry

My editors: Jane Hutchinson and Karin Derkley

Key Publishers: The Weekly Review – Eileen Berry. The Age – Alice Stolz. James  Marketnews – Jen Milligan

My supporting co-workers at James Buyer Advocates: Kristen Hatt, Adam Woledge and Gina Kantzas and Naomi Adams, Elle, Sam, Karen, Peter, Tom, Simone and Adam G.

And finally thank you to the hundreds of wellwishers, phone callers and note senders supporting this series for Young Homebuyers.

More in The Age, Weekly Review, James Buyer Advocates Young Homebuyer series

Article One: Good Home and Bad Homes – Simply your decision. Glen Iris gain a $million – Southbank lose a $million CLICK HERE

Article Two: Clarity Plan – PPP’s – get the best out of now  CLICK HERE

Article Three: Futureproof your plan FFF’s and put a $million into your pocket – CLICK HERE

Article Four: Due Diligence. Boring but very profitable. Great hourly rate work – CLICK HERE

Article Five: Value Concepts that can work for you – CLICK HERE

Article Six: Practical Valuing – CLICK HERE

Article Seven: Negotiation at the Pointy End – CLICK HERE

Article Eight: Walking the Walk – CLICK HERE


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