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November 19, 2015 - 10:32 pm

Thanks Richard. Its with a solicitor and I am not sure if that is secure enough.

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November 25, 2011 - 10:43 am

I think it may be wise to hold off buying.  But do your research.  Buy a copy of the sales in the area you are looking at to see what the trends have been in the past and up until the last three months.  Residex also has good information on predictions you can purchase as well. 

Even though you won't know for sure what is going to happen you may get enough information to feel confident in whatever decision you make.  There's nothing nicer than being able to sleep soundly at night happy in how things are in your life.

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November 25, 2011 - 10:27 am

My tenant paid a month in advance from the start as that was how the agent does things as a rule.  The tenant was PERFECT though and had a very reliable history elsewhere (she thinks we are the best landlords she ever had too ).  Previous tenants also paid monthly and were on time but only stayed for the 6 month lease period.

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November 25, 2011 - 10:20 am

Your local council should be able to assist with information but you need proof in writing to protect yourself.  I think the zoning usually stipulates what development can occur on a block of land.

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November 25, 2011 - 10:11 am

I have been reducing our debt level over the past year.  Also sold an investment property but not just because of the world affairs but because I wanted to take a break from full time work and then only work about 3 days a week. 

Have been trying to cut back on spending on frivolous consumer goods as well and Christmas won't be a biggy.  I know we need to spend to help our economy but really… so much of Western spending is gross consumerism and now the piper has come calling.  My kids think I don't spend much on them at Christmas compared to some of their mates but honestly, 3 – 4 – 5 hundred dollars a child is excessive and is NOT what Christmas is all about.  It is about Christ and spending TIME and LOVE with our family and close ones.  I think of the hospitality and happiness of people living in less materialistic societies and think they got the recipe right. 

I hope the fears of many people are not as warranted as they think.  Last GFC fear was fever pitch but things weren't anywhere as dire as expected for Australia.  If Europe don't get their act together we will experience greater affects this time but still… not as much as many other countries will. I also believe people will be more resiliant this time.  That's my two cents anyway. 

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August 16, 2011 - 8:38 am

@ hbbehrendorff  I can't give any evidence but my gut feeling is either a flattening or a correction if things go pear shaped world wise.  I think the Australian economy is going well although not perfect.  Pessimism is counter productive to most endeavours but it is wise to keep a critical eye on what is happening around us.  The stock market roller coaster last week reflects just how emotional people are feeling at the moment.  Perhaps some will view real estate as a much safer option when there is a low debt to value ratio. Wising for high gains in this economic climate is unrealistic unless you have the ability and experience to spot a great opportunity and have enough cash so high debt is not required during the venture.

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August 16, 2011 - 7:11 am

Hmmm. Interesting.  I will have to check out that video link when I have a spare 45 minutes.  Houses are selling in Port Macquarie at the moment but units are a little slow.

Noticed there is are three grants to help home buyers – $7K for first home owner, $10K for a new construction, $7K to relocate from Sydney, Gosford or Newcastle to the Mid North Coast.  That's potentially a $24K grant for a new home owner or a $14K grant to relocate and buy an existing property. These offerings don't seem to be promoted as most people I know have no idea they exist – except for the first home owner grant.

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July 14, 2011 - 11:49 am

sapphire101 wrote:

Anyway, I now have found tradesmen that do the job for the right costs and this is at properties hundreds of kms from where I live. They are out there and a good handyman can do everything bar the elect and plumbing for $30per hr. including changing a light bulb.

$30 an hour  means that handyman is getting ripped off if he is a contractor.  Factor in insurance, tools, car costs, fuel, advertising –  $30 doesn't cut it – he isprobably really working for only $15 an hour at the most.  Most lawnmowing men charge far more than that and they need to, to survive.  Most trades seem to work for something between $60 and $110 per hour in our neck of the woods.  I am happy to pay $45 for the plumber to go chang a washer or redo the filter in the shower if it means I don't have to listen to my partner gripe about having to do repairs.  He is a great handyman himself but is quite over it after all these years.

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July 14, 2011 - 11:40 am

Oh, and the plumber was ok. One slightly crooked pipe but nothing to complain about.

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July 14, 2011 - 11:38 am

Rich Sparky wrote:

Ohhhhh… Sorry forgot to tell you the best part! I'm only 25! Most of my mates are still in uni & where bagging me leaving school at 15 to start my apprenticeship.. Now I have properties & drive a porsche which they are still living at home… I have just got my builders license & am in the process of setting up my next business so I can semi retire by 30. So please in future think before you open your big mouth & put a profession down! Good luck with the investing

Where the hell do you work Sparky?  I have never seen rates like the ones you quoted so are curious.  We had some work done for us during renovation and the sparkies seemed very good and no complaints with either the work or the cost.

However, the tiler had to be supervised otherwise he would have laid chipped tiles and left the decorative line of tiles at a lower surface height than all the others (wtf??).  We did all our own tiling previously so were somewhat horrified by such lack of care. 

Then I made the terrible mistake of not staying during the entire install of the kitchen and they stuffed the benchtop which has never been fixed.  Oh, and the owner who installed the plantation shutters did it visibly crooked.  We complained and he did come back and correct it which was good.

All the tradesment from the two previous houses 20 and 10 years ago seemed to do a good job so we were appalled at the lack of care in these three.

We did not hunt for the cheapest quote but from now on we will definitely check out the tradesmen much more closely before hiring.  We would rather wait for a good tradie and pay a bit more if necessary than get someone who is too lazy to do the job right the first time.

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July 14, 2011 - 10:40 am

Oopsy, the block of land was sold in 1970 not 1990.

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July 14, 2011 - 10:38 am

ummester wrote:

bardon wrote:

I used to think this way but what I have found is that when it comes to property, time in the market is far more rewarding than timing the market. In 25 years time the theoretical 5% that you may think that you have saved ( and it is a theoretical number and doesn't include the rent you are paying whilst you find this market beating bargain) will look like peanuts. The market is very forgiving over time so much so that you could pay well over the odds and still come out ahead. I had to do some old records for tax recently and when I looked at my first purchase, its value and repayments I couldn't believe how small both were . I also remember at that time everybody warned me that I had paid to much and was overcommitted to the extent that I believed them when in fact with the benefit of time these comments and felling were totally inaccurate.

Overall I agree with you. But house prices since the mid to late 90s (especially since the early 00s) have been an aberation.
.

My parents first home cost them 3150 pounds in Blacktown in 1960 which they sold for $13000 in 1971.  They bought a bigger home up the coast for $14500 which they sold for $99,000 in 1990.  In 1967 they purchased a block of land on the central coast for $500  and sold it in 1990 for $2000  to a relative.  It subsequently sold for $18000 about two years later.

I was in perth in 1987 and the lovely townhouse we rented was up for sale for $35,000 and was sold for double that 2 years later. (hindsight is a cruel thing)  We came back to NSW and the cheapest homes were selling for $35,000 withing 2 something like 18 months the price had doubled.  We in 1989 we bought a quarter acre block and built a small brick home for $70,500 which we sold ten years later for $145,000.  The prices skyrocketed after this. 

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July 21, 2010 - 10:31 am

Hi Terry

How come you asked these questions?

– which state will you buy in?
– are you at risk of litigation

Thanks.

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November 9, 2009 - 8:38 am

How long did the process take and what did you need to do to present a good case?  The thought of going through the court is not one we would like to do for financial reasons but this neighbour has a reputation for be a tight wad and the problems will get worse with the trees. 

We can't understand why they are evading the proper solution when the solution will just become more expensive over time.  There is a real risk that foundations will be compromised too.

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July 6, 2009 - 11:22 am

Unfortunately there is a huge variability in the quality and timeliness of service provided by brokers.  Never, ever trust everything they say. Check and double check with the lender and your solicitor and never trust the broker will do things in time.  Well… unless there is a history of reliability and great service. There are brokers and then there are broke-rs.

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July 6, 2009 - 11:13 am

Great bargain hunting KY. Can't beat that.

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July 6, 2009 - 11:12 am

Nice work Adrien!  I would never have thought of topping a black fence with timber.  I think I will have to see how much of a nuisance the rabbits are first.  I have this strong reaction than any rabbit not in a cage or the on the stove is a bad rabbit.  Cute lil guys but oh so destructive.  Might have to try and terrorise it/them with the dog but then after the funtastic chase she'd have no idea what to do with it (not a killer). 

We needed fences in the rural area to keep the roaming goats (which totally destroyed a neighbour's very expensive garden) and horses (and dogs) out.  Now we're back in town it is still the same but it is dogs and rabbits.

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July 4, 2009 - 11:38 pm

You did a great job Nicklee88. 

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July 4, 2009 - 11:02 pm

Hi Propertunity.  Not a silly idea at all. Hmm… maybe even a really dark green would work well although maybe not as well as black.

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June 29, 2009 - 9:42 am

Hi Reeco

Good to see another one of your posts. You haven't posted for awhile so I guess that must mean you have been busy soaking up all that great information.  Sigh, I am a little green with envy but will just have to live vicariously through your always interesting posts.