[Ellie DiazMember@ellie-diazJoin Date: 2004Post Count: 7]

January 23, 2012 - 7:27 am

Hi Andy28

we are getting 1% on loans totally just under $600k so you should definitely get more than 0.9%

I would renegotiate if you can. if not right away once your loans are settled and you have proven your credit worth.

good luck!

[Ellie DiazMember@ellie-diazJoin Date: 2004Post Count: 7]

January 12, 2012 - 6:50 am

Hi Fergus,

We purchased land in Christies Beach and are in the process of obtaining a fixed price quote on the construction costs. the block used to be one standard size block and was split into two; 352sqm and 375sqm. we noticed there was a lot of this going on and when we spoke to Onkaparinga Council they confirmed that this was a relatively new zoning law as land was very scarece in the area.

However this may not be applicable to the whole of the council area so you will have to find out about your own block and whether it applies to you.

Before purchasing the land we also looked at buying existing homes with a reasonable size block to subdivide. Beware of this as the layout of your land and the existing dwelling locations may be an issue. Also, corner blocks sound great for another access but you have to be carefull that you are able to connect to the services (for this you need to speak to SA Water who will also give you a cost estimate).

You also need to consider minimum setbacks etc.

Another thing we also found out, again depending where the block is, there is a Council law that limts the number of bedrooms to three if you can only fit a single garage, but there is another law that supercedes this and allows you to bypass the hoops you would otherwise have to jump over with Council to obtain approval. Of the two final prospective builders we were considering, only one was aware of this. so do your homework and ask lots of questions or you may not get the full advantage of your block.

Hope that helps

[Ellie DiazMember@ellie-diazJoin Date: 2004Post Count: 7]

January 8, 2012 - 12:23 am

Hi BigAJ,
I guess I might be stating the obvious here, but when you purchase an investment property outgright you will have the rental income to add to your income when looking for finance once you have established the property and have a good record of the rent being paid.

All the best.
Ellie

[Ellie DiazMember@ellie-diazJoin Date: 2004Post Count: 7]

January 28, 2005 - 11:11 am

Hi Cruiser,

I work at a council in NSW (but not in the DA department). however i don’t expect the DA costs to be more than a few $00’s. You’re best contact the council and ask them directly.

What I would look into (and you may already have done this) is check on the cost of all the things you have to do to comply with what you have to do.

If the purchase price including all these, is still reasonable (and for the rent return it looks like it is) then go on ahead with it. Better yet if you get a couple of $000’s off for the inconvenience.

All the Best

[aacool] Ellie

Ellie Diaz

[Ellie DiazMember@ellie-diazJoin Date: 2004Post Count: 7]

January 18, 2005 - 12:14 pm

Thanks Rick,

We bought the property for 180k just over 2yrs ago. we believe it’s worth anything from mid $300k up.

I thought of the garden too. Looks a little tired due to the water restrictions but definitely would consider giving it a facelift.

The dishwasher, new cooktop and reverse cycle in the living area won’t be that much. My husband thought we should put a spa in the backyard but I’m worried that it would be over capitalising and by the time you get it thru council and get it installed will be a while and will be winter before we sell. Also not everyone would like a spa in the backyard (or am I wrong?)

Ellie

Ellie Diaz