Joe what suburb is your property in ?
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Brisbane 04 wrote:Hi Joe,With regards to your insurance its up to you how much you insure for. You're able to work it out. For example I recently purchased a property for $247000, crazy as it may seem I insured it for $250000. I valued the land at $170,000. I'm with RACV and also and got the multi policy discount approx $400. Yes it would be disappointing if the place burnt down but $250000 will go a long way in building a new house if I have to chip in so be it but I can guarantee you that the property would no longer be worth $247000, it would be worth $360000+ and no reno I could do to it would bring it up to this price.
Good Luck Joe
We think alike! My IP is an old 50's house, but i agree even if you have to fork out a bit out of your own pocket the house will end up worth a lot more. The more you insure the more you have to pay and with the cost of living you just have to balance things out.
JacM wrote:Joe what suburb is your property in ?Laverton, Vic. Laverton has a high vacancy rate, i knew this before i purchased it but got it as a really good price. I'd rather wait and find someone decent…. although if i was hard up for cash i'd be very worried by now.
Oh that's right, Laverton. I remember reading that somewhere.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
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