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Got a 1994 Holden Rodeo Ute. Worth about $8000. Has a crappy turning circle, but has nice shiny wheels! Defiantly no Merc or BMW though!
Cheers,
Aaron
Thanks Luke, will do. Do you build many, or know of anyone who builds units this size regularly? In the Rowville area places this size are few and far between, and the three or four real estate agents I have spoken to say it would sell quite well despite the size. Would you agree? Or is pricing not your area?
Also, if you dont mind, can I ask what your average build cost is per square meter or square if its easier? (I am looking at building a neat two bedroom, with acess from main bedroom to bathroom, nice kitchen, nothing too over the top, obviously limited by space)Cheers,
Aaron
If rent covers your loan, then I believe its could be a good deal. Its worth playing with some figures to see if the rent would still cover your loan if interest rates rose significanlty in the future. I would also look at any work / maintenance that you may have to do to the apartment over the next year or two which could possibly reduce any profit.
In regards to resale, get around and ask some real estate agents in the area how much they may be able to sell an apartment like the one you are looking at. Also ask them if apartments like this come up for sale often and how long they generally take to sell. As I am from Victoria I dont have a good knowledge of property prices in your area, but just look around at similar type properties in the same location and you will begin to get a better idea of what is happening with prices, resale etc.
Hope this is of some use.
Excellent, thank you for your help!
Thanks Luke,
That has helped. I called the council (not town planning area though) and they were helpful but I did not get all the info I was after. Do you find it better to drop into the council or make a call?
