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Recent news with oil find shows Coober Pedy was going to start taking off… is there no talk of that in the area yet? I guess it will take some planning time and money until work starts there, but would have thought this a great future investment area?
I agree too, but its not a very exciting article. The main point I get from it is the market will be different in different areas around Australia and you need to do your research…
Definitely lay underlay under the carpet. We renovated a similar house, and the smell of urine went through the floor boards – terrible!
Danniko
It sounds like you dont have much choice with only $400K… I couldnt imagine finding a house in the south of Sydney for that kind of money. Even if you went slightly west there isnt much around for that money… much less 3 beds 2 baths.
I recently bought a unit in Carlton – 1.5 beds (1 bed with open study) 1 bath for $300K that I rent for $400 p/w. I put a new kitchen in and painted, plus its very close to train. I bought this with a view to put my mum in shortly though… but its still an ok investment for the moment.
Good luck!I agree with Linda. A friend of mine got burnt big time by not doing any inspections for P & B. It is a small cost that can save you heaps in the long term.
What I would give to know that!
My opinion… and this is only on the Sydney market, and I am NO expert, but I think there is a little way yet for prices to decrease.
I think there will be an interest rates rise, by mid year, which will push a few more people to sell… if there isnt though, the market will just stay flat I think for at least another year.
If you look to Perth, Darwin or some country areas…. ignore everything I have just written…I love the plasma TV idea… it would be really eye catching when you walk into the apartment plus it has depreciation advantages!! Nice work.
Another idea is maybe truck drivers may need some space to leave their truck? I guess it depends on the land configuration. The reason why I say that is that my grand dad used to lease out his land for truckdrivers to leave their trucks. It was really secure though as he lived near the land so could keep an eye on it.
Stuck at two
You dont have to justify anything. Situations change, so you must too. Why dont you write down all the for and against points and be very honest. I think that will give you your answers.
ecattMy opinion is to read as much as you can, and watch some shows on tv which are great… if you have foxtel the lifestyle channel has some excellent shows such as property ladder, grand designs, the million pound property experiment etc and then there are heaps of decorating shows too like changing rooms etc.
The most important thing with renovating is to have a schedule and a budget and to keep things neutral when decorating… and always be prepared for the unexpected!!!
Good luck.Thanks for all the great advice… I have learnt alot from this discussion!
Wow Chris, you sure have got some experience there, and you have obviously seen the good and the bad of investing.
Are you planning on developing your DA sites? How is the planning permission going in Tassie? What size blocks are you planning? I have a million questions I could ask you! But lets start with these!![biggrin]There are alot of people out there who paid WAY too much for their houses, got swept up in the boom hysteria and now they are possibly in trouble…
There are also alot of people who took equity out of their houses to live the good life, and now they are possibly in trouble
There are alot of smart people also who looked ahead and knew it couldnt last.
Either way there will be alot more reposessions in my opinion and the interest rates will go up, my bet is they will raised twice this year….
[rambo2]Sonja
That was great… hope you dont mind but I have passed it on to a couple of my pommy mates here. Anything to stir them!South Sydney
Well done Amanda!!
Couldnt agree with you more Nazzy… and it is so important to find a mechanic you trust…. they are out there!!!
This is about the only thing I have seen in the last couple of months, and it was in Money Magazine December issue (ie came out early Nov)
“Property experts expect prices to continue flatlining in 2006 — but if interest rates rise, it could turn ugly, writes Terry Ryder.
Nobody is quite sure what to predict for real estate in 2006, because everything depends on interest rates.
Even a 0.25 percentage point rise will scuttle a recovery. The average mortgage has risen 30 percent in three years, so a typical borrower is paying $350-400 a month more than in 2002.
“The market is susceptible because borrowings are so much higher,” Sydney buyer’s agent Henry Wilkinson says. “It’s hard to see what will happen in 2006 because it depends on many variables, with interest rates number one.”
Louis Christopher of Home Price Guide says even a small rise will hurt affordability, deter investors and keep the market “under water”.
If rates don’t rise, most see the market flatlining in 2006 — neither rising nor falling.”
I just found a good article on that actually…
http://homesite.ninemsn.com.au/outdoors/fences-and-walls/ideas-and-designs/natural-fencing-options
Another idea, depending on how exposed to the elements the fence is, but you could get some of that cheap bamboo matting. It is sold at most hardware stores, is really cheap, yet looks modern and effective. We put some up and it has lasted about 18 months, but probably needs replacing now. Its still cheaper than painting though….
