I’d be seeking a 2nd opinion, whether from office of fair trading or another solicitor. The contract of sale is regulated by the OFT & you cannot contract out of some obligations.

Insurance is only required for a max of 6-7 years from commencement, not completion, so if the work is a few years old it is less onerous.

If the vendor is not…[Read more]

I like department of planning website, census data or bis shrapnel reports. Good indicators of what’s approved ie zoning changes, where the growth is planned & how long before it hits the fan.

no, but I have met a few cute ones over the years.

Seriously though, try bmt.

point of note: how long is the life tenant going to live? How long are you going to forego rent/outgoings/insurance/land tax etc? What costs is the occupant going to pay, if any?

You may need to enter into a lease with the occupant but for no fixed term, rights regards inspections, water usage etc – seek legal advice. Also what are your…[Read more]

1 are the termites active or has it been treated? If active, I’d probably steer clear. Building inspection companies put many disclaimers on their reports to cover themselves as a requirement of their insurers.
2 termites are natives of Oz, they live all over the country. Active nests can be 50m or more from the point of entry.
3 vigilance is the…[Read more]

Technically yes, if you buying residential investment properties which you do not live in it should not affect your ability to claim the FHBG at some later stage (I know of at least one case where the person has bought several development sites but not a single dwelling and was eligible when the time came for their own home).Practically, do you…[Read more]

The vendor may already have a depreciation schedule prepared for the building, ask the agent. The main depreciation that you will get benefits from will be work which was done inside of your unit eg kitchen, bathroom, carpets, painting, services etc. Depreciation on the structure is usually very low, only 2.5% pa but the building may not have had…[Read more]

grimnar wrote:
Oooh, that's a neat trick…. will have to check it out.Nah the thingamagig replaces the wingwong, which is no longer in production… But what I really want to know, is why do gooses need bridges anyway???

Generally they don't but left handed ones never go astray & they are a special order on Tuesdays.Daniel, why would you want…[Read more]

Starting at the kerb: new kerb & guttering & or layback, crossover, replace footpath, footpath security bond, driveway, landscaping, front fence, mailbox, street number, paths, clothes line, predesign survey & levels, site preparation, demolition (& asbestos removal), tree removal (arborist report), basix compliance report, stormwater drainage…[Read more]

In most instances including units, each property is individually metered (older units or those that may have been under one owner originally may not have seperate services).Cl 5  of the NSW Residential Tenancy Agreement indicates what the tenant agrees to pay by way of services ie 5.1 electricity, 5.2 gas, 5.3 excess water, 5.4 water usage (no…[Read more]

morpheusbushy wrote:
The $120k is the required insurance amount. I was able to get a figure on the 'entire valuation' as the bank said so I am assuming it is just for the house itself and does not include the land!

Morpheus, the bank is not concerned that the land might burn (but it will always be there), it is concerned only with the house…[Read more]

Depends how close they are to the property. As devo notes not everyone cares. A few trees which cover/block your direct views onto the towers/wires sure help as what people can't see can't hurt them (so they think).The jury is still out whether there is a link between powerlines and any ill health effects (other than to your wallet), likewise…[Read more]

No and yes. You would need to consult with the town planner from council with regards to what is contained in the Local Environmental Plan. The plan may state a minimum land size required for a house which may mean that you need both blocks in order to build a dwelling (or you may be able to build a pair of joined duplexes but not two freestanding…[Read more]

What are your instructions to the property managers? ie contact me everytime the tenant f@rts, if you need to spend more than $500 etc or is the property manager very inexperienced – you can ask the PM to use their initiative ie is there mouse/possum poo around, did your prepurchase pest inspection reveal TERMITES or other pests (have you done…[Read more]

ooops, I almost forgot:7 – blame the government for not creating satellite cities outside of the majors which allow for decentralisation of industry/commerce8 – blame the government for not creating/planning better transport infrastructure like a very fast train allowing people to live further away from town centres & viably commute9 – blame the…[Read more]

Check out the effect with the office of fair trading in qld – you may be able to charge the usage (if separately metered) or you may need to wait until a new lease is signed.

1 – blame the banks for making credit too easy2 – blame the government for restricting the supply of land (supply & demand issue)3 – blame the government for the tax system which allows NG (for all forms of investment eg equities which are also overpriced).4 – blame the unions for restrictive work practices which limit wages5 – blame the…[Read more]

It depends upon your market & whether you want to do all the work yourself. Local paper, domain.com.au, home.com.au etc are all good starting points. A little more expensive but peace of mind is using an agent – cost 1 week’s rent.

A pool’s a pool, for some it is a must, for others it’s a must avoid. It requires daily maintenance & filtering. Some tenants don’t mind others don’t want to know.

Fencing is mandatory, make sure it is compliant with the regulations & there are no climbing frames nearby.

these are generally two units with a common foyer & possibly a removable wall or door both on the same title.