))
EP. 1390 BUYING BACK CHILDHOOD MEMORIES THROUGH PROPERTY... IT HAPPENS!
Manage episode 474352237 series 3445143
Content provided by Mark Novak, Lisa Novak, Billy Drury, Branka Stankovic, Stevan Bubalo, Cleo Whithear, Bidhan Shrestha, Josh Wapshott and guests, Mark Novak, Lisa Novak, Billy Drury, Branka Stankovic, Stevan Bubalo, Cleo Whithear, Bidhan Shrestha, and Josh Wapshott. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mark Novak, Lisa Novak, Billy Drury, Branka Stankovic, Stevan Bubalo, Cleo Whithear, Bidhan Shrestha, Josh Wapshott and guests, Mark Novak, Lisa Novak, Billy Drury, Branka Stankovic, Stevan Bubalo, Cleo Whithear, Bidhan Shrestha, and Josh Wapshott or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
What happens when nostalgia meets the property market? Our fascinating journey into the emotional world of real estate reveals how sometimes buyers aren't just purchasing a home—they're reclaiming a piece of their past.
We share the remarkable story of Damien, who recently purchased the exact two-bedroom apartment in DY's distinctive Longview building where he lived with his parents 30 years ago. The moment of recognition, walking through that front door and realizing this wasn't just any apartment in the building but their specific former home, created an extraordinary full-circle moment. The family even recreated a past photo in the same spot, with Damien trading his childhood white shirt for a green Guinness one—a visual testament to how life changes while spaces can remain familiar.
The financial side of this nostalgic journey tells an equally compelling story. Tracking the apartment's value from its first recorded sale at $81,000 in 1987 through to the current $920,000 purchase price demonstrates the remarkable growth trajectory of Sydney's Northern Beaches property market. While Damien plans to rent the apartment rather than live in it, the emotional value transcends the investment aspects. His parents immediately recognized unchanged features while noting updates like floorboards replacing the green carpet they remembered. The dual balconies and practical floor plan make this not just a sentimental purchase but a sound investment.
This rare occurrence—buying back a family home—raises important questions about balancing emotional connections with financial considerations. Does the property represent good investment value, or is the purchase primarily driven by nostalgia? For Damien's family, this property offered both. Have you ever considered buying back a childhood home? What memories would draw you back, and would you make the purchase if the opportunity arose?
Chapters
1. Buying Back Family Homes (00:00:00)
2. Damien's DY Apartment Story (00:01:30)
3. The Emotional Pull of Family Homes (00:03:36)
4. Property Value Growth Over Time (00:05:11)
5. Investment vs Nostalgia Considerations (00:06:55)
1637 episodes
Share
