Viewed an awesome beach side house today
You could literally walk out the back gate on the sand
BUT
I struggle to see "value" anywhere
Yes it was "only 4 years old"
But it was built, lived in, and owned by the same builder
Some of the downstairs wasn't finished
The outdoor area could have been nicer
Yet, they want premium prices for it
1000 sqm of paradise
But at what cost?
It's like the physical real estate market has got totally detached from value
The workmanship was ok
But the design as simple as possible
Build and flip
Build and flip
Into a highly leveraged market
Yes, someone had shown interest at close to the asking
But just because someonelse wants to buy it at the owners asking
Doesn't mean I have to
At best, if you rented it out, I reckon you might get a 5% net yield
Totally and utterly overpriced
WTF
Depressing in some ways
jakewoodhouse / Jake Woodhouse
npub1lt…6k4fh
2024-12-07 08:53:40
Author Public Key
npub1ltz38gwwmmg740r5qlqjn96gth5thv5wmhkwlgqks9lu3485q7jsy6k4fhPublished at
2024-12-07 08:53:40Event JSON
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"content": "Viewed an awesome beach side house today\n\nYou could literally walk out the back gate on the sand\n\nBUT\n\nI struggle to see \"value\" anywhere\n\nYes it was \"only 4 years old\"\n\nBut it was built, lived in, and owned by the same builder\n\nSome of the downstairs wasn't finished\n\nThe outdoor area could have been nicer\n\nYet, they want premium prices for it\n\n1000 sqm of paradise\n\nBut at what cost?\n\nIt's like the physical real estate market has got totally detached from value\n\nThe workmanship was ok\n\nBut the design as simple as possible\n\nBuild and flip\n\nBuild and flip\n\nInto a highly leveraged market\n\nYes, someone had shown interest at close to the asking\n\nBut just because someonelse wants to buy it at the owners asking\n\nDoesn't mean I have to \n\nAt best, if you rented it out, I reckon you might get a 5% net yield\n\nTotally and utterly overpriced\n\nWTF\n\nDepressing in some ways",
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