First Home Buyer Burned by Sunset Clause Finally Secures Dream House in Lower Hutt
There is a house worth of stuff packed into the laundry room of Bailey Ross’ parents’ house.
The 25-year-old Wellingtonian bought a television, dining table and chairs, sofas, appliances and wine glasses – “the essentials” – more than a year ago thinking she was due to move into her first home in weeks.
Instead, she was left heartbroken when the developer of the house she’d bought in Tawa for $515,000 in May 2019 cancelled the sale with the sunset clause in the contract and relisted the properties (bought by Ross and a number of others) for $90,000 more than what she’d paid.
In the year’s time Ross spent waiting for that two-bedroom to be built, prices in the Wellington region soared. But she refused to let the experience, or the prospect of sinking the remainder of her life’s savings into a deposit, put her off the new-build dream.
Ross set her sights on home ownership when she was just 16 by starting a savings account, and says she has been “extremely blessed” by the privilege of living with her parents rent-free to work towards that goal.
Read the full article here. Comment on it on The BFD.
