Life is full of defining moments and for most of us the day we buy our very first home is a special and memorable day. <\/strong><\/p>\n Considering many of our dreams and aspirations are tied up in the bricks and mortar of our homes, it\u2019s unsurprising auctions are often loaded with expectation and emotion.<\/p>\n The buying process<\/a> is far from dull, and realestate.com.au in partnership with CUA\u00a0follows all the highs and lows in this Auction Mornings series.<\/p>\n Our second hopeful bidder is Lena, an under-30 first homebuyer keen to move out of a rented house in Fitzroy and buy her own home in St Kilda.<\/p>\n \u2018I want to get into the market, own my own place and ground myself in Melbourne,\u2019 says Lena, who\u2019s originally from Tasmania.<\/p>\n Lena, who\u2019s currently working in the property industry and studying a Masters of Property, definitely did her homework.<\/p>\n \u2018I decided on St Kilda because it offers a great lifestyle and is close to the city,\u2019 says Lena. \u2018I spent the first couple of weekends of my house hunting going to as many properties as possible to get a feel for what was within my budget, and to establish exactly what type of property I wanted.\u2019<\/p>\n \u2018Once I\u2019d decided on finding a modern one-bedroom apartment in a good, central location, I looked at suburb profiles and previous sales prices to get a good idea of rental and value growth,\u2019 she says.<\/p>\n Lena also took into account current market drivers and forecasts \u2013 \u2018thanks to working and studying within the property industry I have some good relevant knowledge,\u2019 she says.<\/p>\n In terms of being well prepared for purchasing a home, Lena had all bases covered.<\/p>\n \u2018My finances were all in place,\u2019 says Lena. \u2018I had pre-approval, I knew where I stood in terms of stamp duty, the property had been inspected twice and I\u2019d spoken with the relevant property management company to get a neutral overview of building conditions.\u2019<\/p>\n 2\/1 Acland Street, St Kilda, Melbourne. A perfect first homebuyer investment. Picture: realestate.com.au\/sold<\/p>\n<\/div>\n Located on a leafy part of Acland Street, St Kilda, 2\/1 Acland Street is a perfect example of a fantastic first home and investment property.<\/p>\n \u2018The property is in a great location, is of a decent size, has a good layout and lots of natural light,\u2019 says Lena. \u2018It\u2019s also in very good condition and doesn\u2019t need any work doing to it. Although I\u2019ll probably paint<\/a> a wall or two to personalise the interior<\/a>, and maybe add a vertical garden to the courtyard.\u2019<\/p>\n \u2018The property itself is awesome,\u2019 agrees John Carter, senior sales consultant, hockingstuart St Kilda. \u2018It\u2019s an architect-designed renovation brimming with lots light thanks to lots of glass and high ceilings. It also has plenty of nice features and polished floorboards, not to mention two car parks, you\u2019re lucky to get one parking space in St Kilda!\u2019<\/p>\n \u2018Lena has made an excellent move,\u2019 he adds. \u2018This property is a terrific investment. I wouldn\u2019t be surprised if in ten years we\u2019re talking a million bucks for great one-bedroom apartments in St Kilda.\u2019<\/p>\n St Kilda pier at sunset \u2013 the perfect spot and time of day to go penguin spotting. Picture: Getty<\/p>\n<\/div>\n Popular with a diverse mix of people, locals and tourists alike, St Kilda\u00a0offers a fantastic lifestyle and plenty of picturesque spots thanks to its popular beach, pier, salt baths, beautiful botanic gardens and Acland Street, which bustles with cafes, bars, restaurants and bakeries day and night. Vibrant, laid-back and cosmopolitan in feel, this highly sought after suburb also has excellent transport links<\/p>\n \u2018The market in this area is super strong \u2013 the fact that we\u2019re Bayside helps,\u2019 says John. \u2018As does the fact that first homebuyers don\u2019t have to pay stamp duty for properties up to $600,000. We sell a lot of apartments, and I\u2019ve seen a pretty full on price rise since the stamp duty change has come into place,\u2019 he adds.<\/p>\n \u2018St Kilda has so much to offer<\/a>,\u2019 says John. \u2018It\u2019s\u00a0very attractive in terms of real estate<\/a> because it\u2019s absolutely bullet proof investing. In my 23 years at hockingstuart St Kilda I\u2019ve never seen a downturn in prices. In fact we\u2019ve had incredible capital growth every year, mainly due to the \u201ceveryone wants to live in St Kilda\u201d factor.\u2019<\/p>\n According to John the median price around St Kilda for one-bed apartments start around $380,000 to $600,000, while bargain basement ones that need work start around $500,000 and can go right through to $1.1m to $1.2m and beyond depending on the property.<\/p>\n Lena\u2019s strategy on the day was to bid confidently and stay within budget, her bidding limit between $450,000-$455,000.<\/p>\n \u2018This was my first ever auction as an active bidder,\u2019 says Lena. \u2018I went to a few prior auctions to get a feel for them, but I was still pretty nervous as I really wanted the property but I knew there would be competition for it. I also didn\u2019t have much time to prepare because I had to study!\u2019<\/p>\n Lena certainly didn\u2019t let nerves get the better of her, placing her initial bid of $440,000 with confidence.<\/p>\n She continued to hold her own against two other strong bidders, one another owner-occupier, the other an investor, until her main contender, the investor, bowed out\u00a0\u2013 with a twist.<\/p>\n While walking away from the auction the investor whispered in Lena\u2019s ear \u2018I\u2019m out\u2019. Armed with this knowledge, Lena went on to place the winning bid of $461,500. \u2018It was a kind thing to do,\u2019 she says of the lady in sunglasses who slipped away as discreetly as she\u2019d arrived.<\/p>\n The auctioneer for the day, John Carter from hockingstuart in St Kilda was impressed with Lena\u2019s bidding style.<\/p>\n \u2018The strategy the bidders \u2013 including Lena \u2013 employed was quite aggressive, which is the way to do it,\u2019 says John.<\/p>\n \u2018There\u2019s no point holding back at an auction, that\u2019s not how you\u2019re going to win. All the buyers were very active buyers and made a really good job of bidding.\u2019<\/p>\n \u2018I think today was a really good move for Lena,\u2019 says John. \u2018She\u2019s got herself out of a rising market and has somewhere to live in a great location. The vendor was very happy, we\u2019re happy, the buyer is happy, it couldn\u2019t have been a better day.\u2019<\/p>\n Now, with the auction over, Lena is looking forward to moving into her very first home and making it her own.<\/p>\n If you\u2019re looking to upsize, downsize or buy for the very first time, make a good move<\/em> and speak with CUA today.<\/p>\n
\n <\/p><\/div>\n Realestate au <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Meet the first homebuyer<\/h2>\n
![\"\"](\"https:\/\/i0.wp.com\/www.realestate.com.au\/blog\/wp-content\/uploads\/2017\/09\/27172704\/2_1-Acland-St.jpg?resize=800%2C600&ssl=1\")
<\/p>\nThe dream home<\/h2>\n
![\"\"](\"https:\/\/i0.wp.com\/www.realestate.com.au\/blog\/wp-content\/uploads\/2017\/09\/28101808\/St-Kilda-pier.jpg?resize=800%2C600&ssl=1\")
<\/p>\nThe suburb<\/strong><\/h2>\n
The auction<\/strong><\/h2>\n