Ballparking it – $15-20k depending upon several site variables (ie site unseen). Tandem garage is probably not the best solution as many find it inconvenient

See the Office of State Revenue website: OSR (assuming that you are in NSW) or check out your state govt website.

propertunity wrote:
Now maybe if you had borrowings over $1M with the same bank or applied for more loans as the others have said, it might be a different story.

As the old saying goes, if you owe the bank $1M and can't pay – you've got a problem. If you owe the bank $10M and can't pay – then the  bank's got a problem. I've seen it plenty of…[Read more]

Pardon the dumb quezzie, but why if it took the builder 4 months to get you a quote for mods to a house are you liable for their delay & subsequent price increases? I'd be talking to a quantity surveyor or a contract administator before I 'd agree to paying for increased costs in an flailing economy.

Consider why you have 'invested' – was it for a quick buck? No, PI is a long-term strategy. If necessary, consider doing some inexpensive work to the house (ie no more than $5-10k, less if possible) to improve the appearance and increase your return.You won't learn what not to do until you've done it.

Flick the contract to your solicitor/conveyancer to review (they usually don't charge to review the contract, provided that you go ahead with a purchase within a reasonable time).If necessary do all of your building/pest reports & have solicitor review the strata minutes to ensure that there is no disharmony/adverse conditions existing within the…[Read more]

Fiona, your risks are more than just a rise in interest rates & vacancy factors. The rental market has performed strongly over the past 2 years with yields rising dramatically – this is not sustainable (for renters), expect lower yields hence lower rents especially if you are anticipating that property prices to rise. Those who watch property…[Read more]

Some people like high risk pursuits, I prefer specific performance. If you sign the waiver, I hold purchasers to it – not my problem if you didn't undertake your due diligence or listen to your legal counsel.SNM(and some wonder why).

Adrian, a shoebox is a shoebox (studio <50 m2), you will find that banks find it difficult to lend against. These are often converted ex-hotel rooms and have a very transient tenant. Sometimes these are best let as furnished due to the short tenure/high turnover – best if you can do an executive type rental in desirable locations eg city digs for…[Read more]

duckster wrote:
Strangely our federal parliament members can own a house in Canberra and still claim living away from home allowance of $215 a  night which pays off their mortgages while staying in their houses they own in Canberra.One in five claim a travel allowance while staying in their own investment home in Canberra.see…[Read more]

Depending upon the type of wall paper you would be best served by hiring a wall paper steamer.I don't know how a kitchen will look in your bathroom

Absolutely nothing, the requirement is that you reside in the property for 6 months in the first 12 months after purchase. If you do live in the property, then you can vacate & use the six year rule for cgt exemption.

It will only cause a problem if you do go overseas and use your passport. The Dept of Fair Trading regularly checks details (as does the ATO etc) to ensure that you are in fact living in your ppor if you have claimed the FHBG.

A poorly educated guess is not totally. The first 3 years it was a rental, the next 6 were OO, followed by a 6 yr allowable absence. Yr 7 and beyond again is a rental. Not sure if the regs changed (as they do every time the wind blows), however 4/16 yrs x MRT x 50% discount on the capital gain is possibly your liability (unless your extended…[Read more]

Can you fill us in a little more Kooz? Either the vendor is also the deposit holder or the REA/Vendor's solicitor is the deposit holder – which is it? In the former, in both instances the vendor can (virtually) walk away with the free use of the deposit as pointed out, and your only way of protecting your rights is by way of a caveat. Releasing…[Read more]

Jaffa, I know that the NSW Dept of Lands website has a portal which allows you to view the title details (although it does not allow access to owners names or dimensions of the block), other sites such as Dial Before You Dig also provide you with a heap of information. Check what info that you can find online, you may come across the title…[Read more]

It depends upon what you use eg 1 sheet of fibre cement 1200 x 2400 cut in half to face both sides will cost $25-$30, DAR hardwood will set you back $7/m and you will need 12 or so lengths @ 1.2 m, then you will have the choice paint or stain. You will probably have to get yourself a couple of posts for the gate to be hung off and to close up…[Read more]

The general consensus is that it is dangerous to sign the waiver however if you have undertaken all of your due diligence (pest, building inspections &  legals etc) and you are satisifed with all conditions (lawyer hasn't picked up any encroachments, or other problems) then it may be worth proceeding with signing the waiver. The waiver is always…[Read more]

jazz77 wrote:
measure the height and width of the gate required and go to bunnings or similar. They have a range of un-assembled steel frames that can be assembled to almost any size. They are pre-hinged also. Cost $60 – $80. You will also need pickets or pailings to clad the frame, some screws suited for going into steel. And maybe a post to…[Read more]

Generally, you may be fine – depending upon the type of loan that you have eg fixed rate or IO you may have need to refinance at the end of 5 years or so. You run the risk at that point of the bank revaluing the property, realising that you have negative equity and requiring that you either top-up your equity or decline new finance leaving you in…[Read more]