Forum Replies Created
thanks minimogul and spider,
kids are a little way away btw
looking at 2 properties in paddo atm – one requires a fair bit of work and the other no work – approx $150k between the 2 both in good streets. big call in some ways – eg no work one sounds goods but how do we add value to it, knowing that paddo capital gain will be flattish over the next few years. both coming up for auction and hope to score on one of them
we love darlo also but mainly one street – high side of barcom st. stock doesnt come available there often.
spider, we like your suggestion about setting it up under a trust. we have been exploring it for sometime now but waiting to see final calculations to see if it really is the best option.
ah well, we will keep looking and hoping.
thanks again and keep the feedback coming
julie
hi guys,
just thought id bump this to top again and hope for a few more comments
cheers,
julie
hi spider,
i wish my budget stretched to $1.5mill – saw an awesome house not that long ago on forbes st, darlo for that price
really looking at entry level paddo – nice street, sub 150sq mt block, no carpark at sub $1mill pricepoint, possibly less depending on level of renovation required. of course this pricepoint in surry hills will buy a house requiring no extra works at all.
cheers
julie
thanks for the replies so far
hoping to hear more from others with experience or thoughts of the area.
between surry/darlo and paddo there must be a minimum of $200k difference for similar houses.
i guess what im really trying trying to determine is whether the extra $200k for paddo is justifiable long term or whether the feel is that neighbouring darlo will start to pull in the price differential.
cheers,
julie
thanks for all the feedback
as im looking at a terrace house atm, i appreciate what heritage listings are all about.
having said that, i dont mind the conservative outside facade (thats one of the appeals for me) but internally im a 100% contemporary sort of person and plan to do major works to this place if successful(think dr who
). my other major problem is that this place is brick externally and ideally i’d like it to be a rendered finish like most the houses in this street.really want to be sure my dreams are doable before proceeding with making an offer on this property.
a lot has been done to this property already internally so im hoping it wont be a huge drama.
thanks again,
julie
what does a syd carpark cost? $50k?
what are typical outgoing costs and how much will a bank lend for and against a carspace?
also, whats capital gains like on carspots?
as you can see, i know nothing about them but curious?
regards,
julie
thanks liz for your contribution. my thinking was the same as yours from day 1. we are working towards getting something before 1 july as i know the laws will be changing
surprised it was released like this in the first place to tell you the truth.never thought we were were eligible for the $7k as hubby bought may ’00
interesting article though although like you i feel that it may be innacurate. if we find a place prior to july ’04 we will run it by the osr and our solicitors but we are pretty sure we know what the answer will be.bad luck henry. looks like we both miss out on that part.
thank everyone for contributing
julie
not saying anything really
other than read that article in the daily tele and tell me what you think? julie
Liz,
firstly, thank for taking the time to answer my question. i have gotten my husband involved in helping me respond
the reason i believe im not eligible for fhog is because we would fail pt 2 of the eligibility criteria – ie, my husband owns an ip purchased pre july 2001. the reason i believe im eligible for the first homeplus is because we have never “owned and occupied a property”.
only reason i asked the question was because the article in the daily tele confused me a little by saying that if i put my name solely on the contract given that i have never owned a property i would be eligible for both the fhog and first home plus. the more i read this the more sense it makes.
i make reference to the july ’04 deadline because the article as well as a few others i’ve read have stated that there is an amendment to this policy that will come into effect as from july ’04 that will tighten this eligibility criteria and make people in my situation no longer eligible.
cheers,
julie
Liz,
im with you 100% in respect to the “owned and occupied” part but bear in mind this provision relates to the first home plus concessions which relates only to stamp duty concessions. the 7k on the other hand relates to FHOG which does not make the distinction from “owned” vs “owned and occupied”.
for this reason, initially it was my understanding that people in my situation are eligible for the stamp duty concession but not the fhog. this article however, tends to suggest that if the ppor is purchased in my name, i would be eligible for both, at least till 1 july.
veru interesting to say the least
julie
sadly, i think im between a 2-3
Somthing im going to have to work on julie
hi gramyre,
this is a great post and i’m very keen to see the responses.
i think my situation is very similar to yours and plan to take a similar course of action.
wealth creation and tax minimisation being my 2 main drivers
good luck
julie
great pointers jason.
more of the cheque book renovator type myself but found your post most informative. might get a little more involved in future
julie
Originally posted by mysta:In Lewisham, the owners of a four-bedroom house knocked back a bid of $950,000 in October and put the property back on the market with an asking price of $995,000. It is now listed for $839,000 after it was passed in at $810,000 last month.
please tell me we are not talking about 12 The Boulevarde? If so, im thinking they should have taken the $810k and run with it
julie
interesting article though although like you i feel that it may be innacurate. if we find a place prior to july ’04 we will run it by the osr and our solicitors but we are pretty sure we know what the answer will be.
