Some moments in life are truly monumental, and for most of us the day we buy a home is a defining day.<\/strong><\/p>\n So many of our dreams and aspirations are tied up in the bricks and mortar of our homes, and with so much pinned on the home buying process<\/a>, it\u2019s unsurprising that auctions are often loaded with expectation and emotion.<\/p>\n The buying process<\/a> is far from boring, and realestate.com.au in partnership with CUA\u00a0follow all the highs and lows of the process in this Auction Mornings<\/em> series.<\/p>\n Our fourth auction hopefuls are British immigrants Liz and Matt,\u00a0a couple in their twenties who are new to the buyers\u2019 journey here in Australia and looking to buy their first home together in NSW.\u00a0<\/span><\/p>\n The pair is keen to move from their one-bedroom rental apartment in McMahons Point,\u00a0a harbourside suburb on the lower north shore of\u00a0<\/span>Sydney, so they can upgrade to two bedrooms and get on the property ladder.<\/p>\n Drawn by the abundance of green space thanks to nearby Lane Cove National Park, close proximity to the CBD and the area\u2019s excellent business opportunities and facilities, the couple have set their sights on Macquarie Park,\u00a0a suburb in northern Sydney.<\/span><\/p>\n \u201cHaving rented since we first arrived here in Australia about three and a half years ago, we really want to start investing in our own property and get onto the property market over here,\u201d says Liz.<\/span><\/p>\n Doing their homework, the couple monitored the suburb\u2019s median price and compared recent sales to determine which properties would fall into their price range. They also had all their finances in place.<\/p>\n \u201cWe\u2019ve been looking at the market for over a year now so we know the most popular areas to buy are close to the city,\u201d says Liz.<\/p>\n \u201cHowever, we can only afford a one bedroom unit near the city, whereas we want two bedrooms, so we decided to look a little further out of the North Sydney area.\u201d<\/p>\n The two bedroom apartment is light, airy and in tip-top condition. Picture: realestate.com.au\/sold<\/p>\n<\/div>\n The newly renovated\u00a0<\/span>25\/3 Durham Close is a spacious two-bedroom property ideal for the professional couple, who are looking to live in a bustling business hub but with plenty of leafy outdoor spaces right on their doorstep.<\/span><\/p>\n \u201cThe apartment is only ten minutes away from where I work and sits right on the edge of the national park, which is lovely,\u201d says Liz.<\/span><\/p>\n \u201cThis apartment ticked all the boxes.\u201d<\/p>\n The well designed, modern apartment is in superb condition and benefits from views of the national park and a large swimming pool in the complex.<\/p>\n \u201cThis property has been immaculately renovated and styled, it\u2019s a top-end example of this type of unit,\u201d says Oliver Sheenan, agent from Ray White.<\/p>\n Rainbow lorikeets are regular visitors to Lane Cove National Park.<\/p>\n<\/div>\n Home to multinational businesses, Macquarie University and Lane Cove National Park renowned for its beautiful bush walks and river,\u00a0Macquarie Park\u00a0has quickly become\u00a0Sydney\u2019s\u00a0second largest business district.\u00a0<\/span><\/p>\n The popular suburb offers<\/a> an affordable entry point for first-home buyers.<\/p>\n \u201cWe did quite a bit of research and checked what the other properties in the area were selling for,\u201d says Liz.<\/p>\n \u201cWith all the new housing<\/a> development happening in Macquarie Park we feel it\u2019s a great place to invest our money.\u201d<\/p>\n \u201cThe market is performing very strongly in Macquarie Park, we\u2019ve seen great growth throughout 2017 and it\u2019s achieved some great prices,\u201d says agent Oliver Sheenan.<\/p>\n The median price in\u00a0Macquarie Park for a two bedroom apartment is currently $765,000.<\/span><\/p>\n With loan<\/a> pre-approval in place and with a little auction practice under their belts, the couple\u2019s strategy on auction day was to be confident and get the first bid in.<\/p>\n They agreed that $790,000 was going to be their top bid.<\/p>\n \u201cWe were very excited but nervous at the same time, we really wanted the apartment but you never know what\u2019s going to happen,\u201d says Liz.<\/p>\n \u201cWe\u2019ve been to two previous auctions, with the first one going nearly $300k over the guide price and at the second one we missed out by $20k\u00a0\u2013\u00a0<\/span>we\u2019d simply reached our limit,\u201d says Liz.<\/p>\n A little practice clearly stood the couple in good stead, as Liz bid strongly, placing the first bid of $730,000, and she continued to hold her own against competing bidders, eventually placing the winning bid of $784,000.<\/p>\n In terms of Liz and Matt\u2019s strategy, agent Oliver Sheenan says confidence is key and the pair had what it took to hold their own in the bidding process.<\/p>\n \u201cAs soon as they were outbid they hit back straight away, and that\u2019s a great way to demonstrate that you\u2019re serious about the property,\u201d says Sheenan.<\/p>\n Making the first bid is a common strategy to show you\u2019re serious early on, but it doesn\u2019t guarantee success.<\/p>\n If someone makes a counter bid, don\u2019t hesitate to follow up with another bid provided you can afford it. Be decisive either way.<\/p>\n Deciding your limit in advance is so important, and\u00a0CUA has some great tips for being prepared for auction day.<\/p>\n They may be a long way from the UK, but Liz and Matt are living their Aussie dream, having found a great home in a great suburb.<\/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 strategists<\/h2>\n
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<\/p>\nThe dream home<\/h2>\n
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<\/p>\nThe suburb<\/h2>\n
The auction<\/h2>\n