Ali Cheema and his wife Faiza – who are based in the outback town of Emerald in Queensland – decided to buy an investment property in Brisbane after putting it off for several years.
will chat to a recent home buyer about where they bought and why – as well as the practical details, like how much the property cost, if they got what they wanted and just how hard the process was – to give readers a taste of what the current market is like.Tell us about yourself?
After putting it off for several years in the hope prices would fall, last month we bought our first home – an investment property – in Brisbane. We wanted to buy in Brisbane rather than in rural Queensland as it has more capital growth potential.We started considering buying a property two years ago, in 2021, but decided to wait as we expected house prices to drop or stabilise. During that time, we kept saving to increase our borrowing power.
We waited two years for the market to stabilise but holy cow, these markets are like ... ‘Good luck, man’ as they haven’t come down.We started actively looking in February. We hired Home Scouts buyer’s agent Bronwen Stacey because we weren’t able to fly to Brisbane every weekend to inspect properties or attend auctions due to living more than 800 kilometres away.
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