PHOTO: Kevin Laplanche and his young family have been in the market for their first home for six months.
Dunedin first-home buyers have described the trials and tribulations of striving to secure a slice of paradise in what has become an ultra-competitive property market.
The Otago Daily Times spoke to several such buyers after they had been through a modest suburban house at an open home yesterday.
The two-bedroom, one-bathroom home had a rateable value (RV) of $220,000 but an asking price of $325,000.
William Wilson and Elizabeth Permina were among those viewing the home yesterday.
Mr Wilson said the yawning gap between RV and asking price was a lesson they learned early.
“We realised that rateable value’s got nothing to do with actual value.”
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