Forum Replies Created
Can you manage yourself? Anything can be rent only at what price. If your price is significant lower than the other similar property, it will definitely rent out. For a start may be lower price then increase to the market price when the market improve.
If you plan to borrow at 80%. The 120K already tie to the first property. You have nothing left for the next property. You will not get the loan for the next one unless you borrow 100% and have sufficient cash for other fee and charge.
People often mention use the equity of your home to purchase the investment property. Use your example: your house cost you 600K and you have 120K deposit. After the market moved, your house now valued at 800K. Your loan still at 480K. Therefore, your equity will be 800K-480K = 320K. If you want to keep loan ratio still at 80%, 160K equity still needed to be remained in your house, the different 320K-160K = 160K, you can take out and use to deposit for the next property.Hope it make sense.
Of course, it will be less desire. But for the same reason, you can buy it cheaper than full size block. Personally, I don’t mind.
Your new house will create more storm water run off from the site. It is new policy that you need to divert it back to the kerb, unless you can arrange easement with your neighbour to get stormwater through. It is also very expensive exercise. Your slope is too great 5m, a sealed system will not work unless you have double storey. Pump system is highly likely your only viable option.
Have you bought that one yet? It is may be a good buy if you plan to sub divide or have a major renovation (add rooms etc… ). But just buy and hold, it will slowly bleed you.
NRAS mean lot of rental, also mean low rate of owner occupy. With high rate of rental and depend how much you buy, CG may hard to get than owner occupy suburb. You also have a strong competition from the NRAS property, mean the rent may lower than it should be. Therefore, your rate of return is lower. Cash flow is important as it help you hold the properties until you have decent CG.
This one extract from South Australia gov website. Highly likely QLD have similar rule/law. Talk to council or go to your local council website. They may put all requirements there.
” POOL Fencing
All swimming pools must have a continuous safety barrier maintained by the pool owner that restricts access by young children to the pool.
If you are a property owner and are selling a property with a pool built before July 1993 you must make sure that the safety barrier meets todays standard for new pools.
Fencing must be constructed in such a way to make sure that:
the outside of the fence is an effective barrier to young children
it is permanent
young children can’t crawl under or climb over it by using foot and hand holds
it is at least 1.2 metres high
any boundary fences used as part of the child-safety barrier are at least 1.8 metres high on either side with a 900mm non-climbable zone. The non-climable zone may be located at the top inside of the boundary fence if the fence is at least 1.8 metres high on the inside.
Gates to the pool area must:swing outward from the pool area
be self closing from any position
be fitted with a latching device out of reach of small children at least 1.5m above ground level.”Thanks Terry for your response. I am very appreciate your opinion.
It hard to tell how much it will be even you are quite experience one. To subdivide a block of land to town house, depend how many town house plan to develop, zoning, council policy… ect.
First point of contact is town planner/surveyor. They can give you some ideal of YES or NO first. And it is also not certain. Some time NO can turn into YES depend how good the town planner sell the solution to Council.
Government fee and charge are just one part of total fee you need to pay. It can be estimate by talk to town planner.
Large chunk of cost is for the infrastructure cost. You will not have the figure until your team of engineer, architect, surveyor… do serious work on of your particular site. Example: below X number of town house on that site, you don’t need a transformer. You plan to create X+1 town house – add 100K for new transformer… There are different way to layout town house. Depend adopt solution, you can get extra 1 house or lost 1 house.
It cost serious money to find out the final figure base on design solution as all your team members need to be paid to do the design and research.
So even very experience developer still get burn as many factor unforeseeable.
RegardsWith the Sewer and water meter condition, they are usually installed by Water supply company. For sewer, they just install a sewer connection point only. Your plumber will be fix the future sewer system into that point. Floor plan not needed, but it is a good ideal to have some plan drafted up so you can chose good locations for those service point for future house.
Raine & Horne, I have a smooth transaction with them. You can give them a try. And of course, you can terminate with PM if you are not happy with their performance.
One thing to consider is how your property conditions with tenant in there. With empty property you can do renovating, painting, fixing… ect, without hassle of asking very time. It is impossible to do painting while tenant still living in the property. Some small house keeping can change the price a lot, especially when buyer is owner occupy. People need to feel “home” when buy house for themselves to live. Depend on the market situation, a reasonable asking price and a tidy good property and good sale agent, it should not stay in the market for long.
Just in case you can get to it from the net. Here the contact details:
Contact Information
General Enquiries 0432 085 007
Fax 03 5942 9286
Email [email protected]
Office Hours Mon – Fri 8am to 18:00 AEDST
Sat 9am to 13:00 AEDSTThis one in Queensland look like they have some DIY product. I google it too.
http://www.stainlesshandrails.com.au/?gclid=CP3wr9a3lpsCFRBbagodS1skoA
Let us know how you go with the your project.
http://www.clearglass.com.au/index.html
Try this one as the first one when I hit Google. It look like it have what you want. It in Melbourne too.Scott have a good advice how it can be done. Little bit further more. If you want balustrade look nice and no worry about cost, go for architect special design to match existing building with proper engineer calculation to satisfy all safety requirements. Otherwise, go for some pre-design system specified by well-know manufacturer. They normally have good cost effective system to suit your need. Their insurance will cover you when something go wrong. The danger bit mostly is the post/glass base fixing. Underneath nice single sheet of glass you see in the new house nowadays, a big chunk of steel angle/rail cast-in concrete to keep that nice thing stand strong. It is very expensive.
BTW,
Builder licensed for build not for structure inspection. It is engineer job. Better go direct to engineer.
Cheershi
From your information, it is not enough to tell it is load bearing wall or not. Access roof space and see if anything sit on it. If there are, it is load bearing wall. Is 2.8m the height?? Careful with it when you demolish. Consider the risk, few hundred for engineer inspection may not expensive at all as fixing any damage structural now cost you thousands.Hi Daniko
If is structural work, engineer and council approval is highly recommended. You get liability for 10 years after the work done. Basically, it is prevent any accident happen in the first place, when everything is correct compliance with Aus building code. Builder job is build and do building work, but they hard to reach when thing go wrong – usually few months or years down the track. Fix something wrong is much costly than do it right from the start. Builder usually base on their experiences and want to do thing fastest and cheapest possible, but each situation is difference and they may miss some important things. That's why engineer still needed. Council normally have experienced engineer to check those stuff. If you see them first it will save you many thing later on.
DANIKO wrote:They claim that most of properties in Australia would fail if we check their compliance with Australian building regulations and many of them shoudl have never been approved.This is not correct. Proper builders build things compliance with Australian regulations – good product. The bad builders try to cut corner – terrible job. Avoid them if you can.
