Buying 1st PPOR, make a new offer? Building and pool inspections reveal costly fixes needed

We know they saw the offers as it went back through the solicitors. Not optimal from a negotiation standpoint but clean and necessary.

The agent was actually annoyed that he was late (24 hours) in finding out what had happened. This wasn't intentional, just the fact that we were on the last day of the pool inspection clause of the contract and needed to ensure we were legally covered. It was also 2nd of Jan, so agents, solicitors and vendors were hard to get in contact with.

We are now looking closer at new house and land packages as an option. I guess it isn't often that the government throws up another 7k to entice. I pay enough bloody tax so I should at least seriously consider it. Now I get into the complexities of fixtures, fittings and the time taken to complete the program of works…….

Chapter 2 I will save for a new thread.
Thanks folks.

An update for you folks still tuned in.

– the agent never came back to us with any ideas. Guess he didn't want to work for a living
– we received our deposit back in full, so only out of pocket for inspection and time.

– We have just purchased a large block of land ~1200m2 about 150m from the bay/water. Flat, big, quiet (double cul-de-sac). ~30km from the CBD, so it is a little far out right now and my travel time will  be a little nasty. A sacrifice I am willing to make for the investment and lifestyle.
– We decided to go for the biggest block of land we could afford, negotiate very hard and put a sound skeleton of a house on it, then grow into it over the next few years. Oh boy, do we have a lot to learn about landscaping!
– The area is up and coming and this decision is really a combination/balance of lifestyle and long-term capital growth
– Area is still lacking a bit in infrastructure but I can see the city creeping towards it in multiple directions. some very large estates less than 10 minutes away are boosting population, infrastructure and employment.
– You can never be certain with investments, but I think we have bought well for the long-term. I expect our growth may be static for a year or two, but after that things are looking up.
– Hoping to save enough cash to enable an investment property later this year. IF not, will wait a couple of years for some equity and savings to go again. This investment game is frustratingly slow in the beggining but I am certain it reaches a tipping point down the track and becomes self-sustaining. It is a kind of faith almost like religion, except with facts and people that can tell us what is on the other side.

– Now we are searching for good home designs and trying to figure out all the "hidden costs" associated with building a new home. I will start a new forum item on that.