Lets make our own jam..

Is it just me or does anyone else think we have become a nation obsessed with cooking shows? As one series ends another begins to feed our voracious appetite for high class home cooking.

I think it reflects a fundamental change of attitude that’s also evident in the real estate market.  In direct contrast to the high living, high spending, high debt culture that dominated before the GFC property buyers today are much more cautious and much more inclined to ‘make do’.  It’s the masterchef ‘let’s make our own jam’ attitude.

For the first time in years we are now a nation of savers.  Despite reports the economy is strong, unemployment is low and the future looks good we’ve had three years of doing it tough. We’ve grown used to being frugal and talk of future price rises in fuel and electricity aren’t helping.

Certainly those looking to purchase property are much more risk averse.  It’s usually the banks who tighten the screws on home lending but we are seeing home buyers themselves re-evaluating their requirements.  Yes, the extra bedroom or the ensuite bathroom would be lovely but suddenly it is no longer a necessity. 

So if you’re looking to sell, be realistic about your prospects.  Don’t be discouraged.  There are definitely buyers out there but the deals are hard fought.