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2019 Money Magnet Symposium - Discover how to make, and keep, more money and achieve a financially empowered future
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  • Profile photo of JanHJanH
    Participant
    @jhmz
    Join Date: 2017
    Post Count: 7

    I have an 50 years old 2 bed unit in Ringwood Vic. I bought it over 10 years ago and knew at that time that I would need to fix some structural items in the future, such as a corner of the unit might need restump and the roof need rebed. It has been good for the past 10 years and it hasn’t given me much problem. Lately I asked a roofer to quote on the rebed but he said I need a builder to check the framework instead. The location of this unit is very good, just the age of the building makes me concerned.
    I think I have only three options at this stage:
    1, Get building/or structure inspection done for $500 then decide what to do next.
    2, Sell this unit in the next 6 months as it is.
    3, Ignore the roof ( not sure if I can/want to ignore it).
    Much appreciated any suggestions!

    Profile photo of Kumpapeat4Kumpapeat4
    Participant
    @kumpapeat4
    Join Date: 2019
    Post Count: 8

    I think stage 1 is good to do.

    Profile photo of Ethan XUEthan XU
    Participant
    @lslmysyxh
    Join Date: 2019
    Post Count: 1

    I have a 50 years old house too; get a another roofer to quote, or just get a builder to check around, but builders and inspectors love to overstate the problems.

    Ethan XU | My Finance Corp
    Email Me

    Profile photo of MelbourneExpertsMelbourneExperts
    Participant
    @melbourneexperts
    Join Date: 2019
    Post Count: 3

    considering the costs of selling – I think getting a firm understanding of the cost to fix the unit is well worth it. Worst case you have the figures in case a buyer wants to know so they’re less likely to give a random low ball.

    Hope this helps.

    Mark
    http://www.melbournefinanceexperts.com.au

    MelbourneExperts | Melbourne Finance Experts
    https://melbournefinanceexperts.com.au
    Email Me

    Local Melbourne Experts, The Best Advice

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