The big news in the last six months is that myself and Jacqui have bought an apartment. After a few years of half-hearted looking we finally found somewhere that we liked enough to actually bid on.

Jacqui always wanted a bit of outdoor space, so a courtyard or garden was a must. She spotted ana apartment in Maroubra which looked great. Decent sized garden, recently renovated, move in, nothing to spend sort of place. It met all the requirements, so we got our finances in order and headed off to the auction.

The agent had quoted an expected price around $520k, so, Aussie agents being what they are, we knew that would probably be a bare minimum. Although this was our first auction, there were found being held at the venue before ours, so there was plenty of time to get a feel for how things were running. Standard procedure seemed to see lots of frantic bidding, then a pause when it appeared it was finally down to two buyers, but then the serious bidders would come in and the final stage was reached.

When our auction started I figured I’d bide my time and see what happened. Bidding started at $450k and I was hopeful of getting the apartment for a decent price, but it quickly ended up at two couples duking it out at $540k. After the “going twice” announcement, I started bidding and we ended up bowing out at $570k. Damn! I was a bit disappointed, but Jacqui was heartbroken.

Back to the drawing-board, or so we thought. A couple of days later the estate agent called us to say that the owner of the apartment next door, in the same building, wanted to sell. We went to check it out and it was identical in layout and size to the apartment we’d missed at auction. The only downside was that, while there were no structural issues, it was a rental property, so would need a complete paint, a new kitchen and a few other things done to get it up to the standard we wanted.

Luckily our bid of $525k was accepted and, after all the legalese was over with, we picked up the keys on November 23rd. Here’s a few photos of the state it was in when we bought it.

With the help of Jimmy, my builder mate, we quickly worked through the major items needing to be done so we could move in before December 10th.

• rip out carpets and built-ins in both bedrooms
• rip out carpet and lay a wooden floor in my office
• install many extra plug sockets
• sand & white-wash the floorboards throughout
• prune the trees in the garden and get rid of the weeds

Here’s a few photos of the work in progress. We’ve now moved in and had a BBQ/housewarming on NYE which went pretty well. We’ve a new kitchen on the way, plus a few final touches to sort out before the major work is finished. More photos to come!