Location Location Location: Know what you want (and what the vendor wants)

Location Location Location: Know what you want (and what the vendor wants)
Location Location Location: Know what you want (and what the vendor wants)

On this week's episode of Location Location Location Australia, buyer's agents Bryce Holdaway and Veronica Morgan were tasked with helping out two young couples who knew exactly what they wanted.

The 26 year olds Steven and Amelia had already bought and sold one house, and with Steven a real estate agent they were familiar with Brisbane's property market.

First stop is a two storey weatherboard home in Camp Hill with three bedrooms, one bathroom and a modern kitchen. It's on the market for $550,000, giving the couple money to add an extra bedroom. The vendor, an investor, had just repainted the house's interior and redone the polished timber floors. Though Steven was initially skeptical of its position on the busy Stanley Road, the house was popular with Amelia, who loved the layout and the style of the home.

Next stop: Carina, where the couple currently reside. It was a bit further out, and the house Bryce guided them to wasn't to Amelia's taste, but it was much larger and had the full four bedrooms they were looking for. In addition to the main house's four bedrooms and two bathrooms, it came with a separate studio out the back. It was priced at $650,000 - right at the top of the couple's budget. But the couple weren't keen, so it was off to the next house.

The final home was in Coorparoo, bordering their dream suburb, Camp Hill. The restored Queenslander came with a massive backyard, three bedrooms and a new kitchen and bathroom. It was up for auction at $600,000 plus.  The couple were particularly keen on the character of the house, but it was clear - Steven's heart belonged to Stanley Road.

And so the couple put a bid on the home. It has previously been passed in at $520,000, and the price guide was at $550,000, so Steven gave the order to proceed with a $525,000 offer. However, they were with another buyer, who put in a $550,000 offer, and the selling agent advised Bryce that the property was likely to come off the market at $560,000.

The couple put in a $555,000 bid but were shot down by their competitors' $560,000 offer - more than Steven and Amelia were willing to pay for the home. However, all was not lost - the couple increased their budget by $20,000 and found an an even better home - a modernised three bedroom Queenslander in Camp Hill, pictured below.

Location Location Location: Know what you want (and what the vendor wants)

The new option has a $649,000 price guide, but Steven and Amelia weren't the only buyers interested in the home, with two other offers already made. Bryce, knowing the vendor had been recently stung by a buyer whose finance fell through, put in an offer of $672,000 - but with fully approved finance. It wasn't the highest offer put in on the house, but it played to the vendors' needs.

The tactic provides a useful lesson for those buying a house: remember that price isn't everything and find out as much about a vendor as you can.

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Veronica was also helping out a young couple: Sarah, Scott, and their baby.

Sarah and Scott, who have a passion for mid-century architecture and renovations, were after a three bedroom home with a view. They had a $850,000 budget, including renovations.

The couple had been living in Melbourne, but wanted to buy a house in Hobart after relocating back to Tasmania where they grew up.

Their first stop was a 1970s era brick home. It had a big backyard and a great view, but not as much room as the couple would like. However, it was offered at $460,000, which would give them plenty of money leftover for renovations. Neither is particularly impressed.

Next stop is Howrah, a beachside suburb. Right on the water, only 15 minutes from Hobart's centre. The second house was on a bigger block, and had three bedrooms and two bathrooms. Unfortunately, although it is a mid-century home, most of the character has been choked out of it by renovations. It had a price guide of $750,000, and a spectacular waterfront position, which captured the couple's attention.

But it wasn't enough to eclipse their bad feelings towards the house itself, which Scott would have to bulldoze before he was happy with the property.

So Veronica then took the couple to a larger 1950s brick home, which retained plenty of its original characteristics. From the front it had waterfront views, with an open plan living, dining and kitchen area at the front, and three bedrooms. The house, set on a 938 square metre plot, was on the market for $650,000 - so the couple would have money to update the home.

But despite its qualities, Scott still wasn't excited - and getting him to respond well to a house became the task of the episode. So Veronica and Bryce took them to a long, thin single storey 1960s modernist house, with a living room at one end, a rumpus at the other and three bedrooms in the middle. The 1,381 square metre battle-axe block had a price guide of $550,000, well under their budget.

Many of the original features of the home have been preserved and Scott was finally excited - but the roles were reversed, with Sarah a little apprehensive about the layout and plot shape, which means neighbours on all sides.

In the struggle between the two houses, Veronica suggested an independent source of information - an architect. As they planned to restore and renovate each home, adding on rooms if necessary, an architect was the best person to decide which was a more flexible option. And so, after consulting with an architect, the couple decided to go with the 1950s brick house with waterfront views.

Veronica then moved in with a $622,500 - $27,000 under the asking price - and managed to secure the Hobart house for Scott and Sarah.

Scott and Sarah's search showed the importance of a professional opinion. When hunting for a house, every friend, family member and passer buy will have an opinion on what, where and how you should buy. But for those who are unsure, and especially for those who are hoping to make changes to a house, it pays to get in a professional.

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