It is always interesting to see what banks etc have predicted and to review these 6-12 months later to see how accurate they may have been. If any of the banks had predicted the rise in rates (even reading into the underlying inflation rate) they would have looked like they were profiteering if they foresaw official rates rising  to 6.75% (more…[Read more]

http://www.api.org.au/DataPage.aspx?LinkName=1&Menu_ID=13&division=3&sm=13_1

There should be a 149 certificate attached to the contract of sale (short form should be sufficient – as this shows all of the planning instruments & zoning) – your solicitor will requisition a full S149 from the vendor upon exchange.Take a copy of the S149 down to the council town planner and get them to explain away any 'nasties' or queries.It…[Read more]

AFAIK it isn't in the BCA – may be that someone is having you on.

I'm with you Terry – only question is Kiz – how do you take possession for the refurbishment works without 'owning' ie are you renting or have negotiated a longer settlement period with access?

Cost comparison – roughly 60% +/- of brick. Your main savings are the difference in the cost of cladding/framing vs brickwork as essentially you cannot do away with the slab (although it is of a slightly lighter design) and the roofing (unless you have a tiled roof – more expensive again).Colorbond dents when hit vs brickwork which dents your car.…[Read more]

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I'd agree with Terry, if you can get an LOC and use it for the purchase or alternatively (many will shoot me down in flames), use the IP as security and the PPOR to top up that security up if necessary and have the loan against the IP (with an offset etc) – then there would be a no questions asked approach as the money borrowed can be directly rel…[Read more]

Terry/Richard, if the land is for a PPOR and you borrow against the current house to fund purchase/construction then relocate to the new PPOR, will the interest on the loan on the old PPOR (now an IP) be claimable or is it better to sell the old PPOR and have buy a new IP (esp if there are CGT implicatations in selling the old PPOR)?

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sogni1 wrote:
The offer: A conditional offer is being proposed…..Suggested Offer:The following offer is for the property located at:Price offered : $This offer is conditional on the following:An  up front non refundable $ (nominal) option payment which secures the property by way of 'an option to purchase' while the following is…[Read more]

If the strata search did not reveal anything (check what it did reveal) then it is probably coincidence. Marsfield is a good area – close to Macquarie Uni (and new private teaching hospital), shopping centre, new train line (late 2008), high tech industrial area.How big is the block ie 4 units in 20 may be high but were there similar numbers 2 or…[Read more]

Income protection insurance only covers loss of wages – investment income is unaffected (you can't get income protection insurance to cover your IP income). IPI is a tax deduction (if you are working).A two week waiting period? Gee, that must be costing an arm and a leg – most are around 1-3 months wait (ie you should be able to support yourself &…[Read more]

HJ, you need to consider what are your reasons behind contemplating selling – you have only held this property a short time, probably paid a premium if there was a new lease in place and now with 3 years or so left to run on the current lease want to make a run for it. You have 3 years of income virtually guaranteed still to come from this site,…[Read more]

Firstly make your offer conditional that the vendor will sign any development approval or other application promptly within the settlement period.Secondly, if council/Land titles office permits, go for a sub-division, values are better (if notional) but sales are easier as each property does not require the other owner's approval for any works…[Read more]

Glen,to answer your last question first, if the replacement benchtop was 'like for like' eg laminex benchtop replaced water damaged lami benchtop (ie not lami to granite etc) then it would come down to the cost of the replacement item (due to the extended life).With regard to changing from PPOR to IP, you may need mortgagee consent (from the…[Read more]

Ensure that the builder/architect bear any costs with regard to lowering the pit, these are not your problems to rectify and the responsibility of the arch/builder.Raise and discuss the problems with the architect – get them to clarify the problem and present the solutions. If the levels have been stuffed up find out what is going to be…[Read more]

Andy, there is usually no issue of a slab being below the ground surface providing that the outside wall has been tanked to prevent water hitting the wall below ground (there are many houses still being built on sloping sites).AHD is simply a reference point. A good residential builder will use a surveyor sparingly – boundary, 1 m above FFL &…[Read more]

One thing to remember Glendafull, is that you are not buying any tenure in the land. That is, the owners of the caravan park can sell the park to a developer and give you 24 hours notice to vacate the property. You will need to check that the property isn't being considered for a sale and that the park will be around for longer than the 7 1/2…[Read more]

I'd tend to consider the purpose rather than the property itself. That is, once you consider that property A has a better growth potential than property B and make that decision (sure you'll look back in years to come and say 'oh we should have held on to both etc) then you will just live with it. I have bought and sold numerous times as well as…[Read more]

And to be really pedantic HW, "no property can actually be said to have increased by 20% until " it has been resold and settled on a "like for like basis" as we are otherwise only comparing median prices against the subject property.