A young mother has told how she is about to give up after a frustrating and fruitless search to buy a family home in Sydney.
Gracie Lim said that after three “exhausting” weeks of trying and failing to find a suitable suburban home, she is reconsidering staying in her “tiny two-bedroom apartment” in the city centre.
“The last three weeks have been completely exhausting,” Lim wrote on social media.
‘Here’s the backstory: My husband and I finally decided to take the train to suburban life in Sydney.
‘After years in our small two-bedroom apartment, just 20-25 minutes by train from the city’s central business district, we thought it was time for a change.
‘We started considering buying land in Sydney and let me tell you, it’s exhausting.
‘In our current neighborhood, houses sell for between $3 million and $5 million for a three- to five-bedroom home, which of course we can’t afford. Other places we looked at, like Ryde or the Hills District, are a little more affordable but still around $1.8 million to $2 million, which is still a tough pill to swallow.’
Lim said she and her husband even visited Box Hill and Schofields in Sydney’s outer northwest.
Sydney resident Grace Lim has shared her frustration trying to buy a family home in Sydney on social media.
“I’m sorry, but living there felt like I was trapped in a Sims simulation: everything is eerily perfect but somehow soulless,” Ms Lim wrote.
She said, “desperate for options”, she and her husband began looking further afield, including the New South Wales central coast.
‘It’s undeniably beautiful – the coastal vibe, the charming houses and the relaxed lifestyle. Your million dollars can be of great help,” he wrote.
But of course, the constant sound of cicadas ruined everything for me.
‘At this point, I’m seriously wondering: should we just stay in our little apartment? What would you do if you were in my position?
Now she’s even considering moving to Melbourne, after seeing what her husband’s work friend was able to get for his money.
‘Bought a beautifully renovated three-bedroom Victorian home in Richmond for $1.4 million. It was absolutely stunning – my jaw dropped.
“I came away a little jealous because something like that would easily cost $3-$4 million in Surry Hills.
“Now I’m wondering if it’s worth uprooting what we’ve started here in Sydney and taking action.”
His dilemma attracted several sympathetic responses, offering him advice on what he should do.
“We made the decision to move upcountry to Parramatta when the opportunity to buy arose,” one person explained.
‘We had to make peace with a detached house that probably won’t be within our reach anytime soon (if ever) and ended up finding a relatively large two-bedroom for under $500k.
“The area still feels lively and is very well connected to Sydney.”
Another said: ‘We moved from the lower Blue Mountains to regional Queensland 24 years ago.
“Leaving Sydney was the best thing we ever did, even though I miss the trains.”
‘With small children, I would prioritize a shorter trip. There were days when I had little kids and I would count the seconds until my husband walked through the door to help,” added a third.
‘My cousins in Melbourne bought a three-bedroom semi-detached house near Footscray for about $900k. “If my parents didn’t live in Sydney, I would have moved to Melbourne,” said a fourth.
While Sydney’s property market has seen a recent cooldown, it is due to rising prices (pictured, a house for sale in Sydney)
While Sydney’s property market has cooled marginally, this is due to skyrocketing prices.
Sydney’s median house price fell 0.1 per cent in October, while annual growth slowed to 3.9 per cent, according to CoreLogic.
As recently as February, Sydney house prices were growing at an annual rate of 11.7 per cent with a monthly increase of 0.4 per cent.
In the other Australian capitals, Melbourne and Hobart, hose prices have fallen over the year, but there is still double-digit annual growth in Brisbane, Perth and Adelaide.
The median home price in Sydney is almost $1.5 million.