thanks minimogul and spider,

kids are a little way away btw

looking at 2 properties in paddo atm – one requires a fair bit of work and the other no work – approx $150k between the 2 both in good streets. big call in some ways – eg no work one sounds goods but how do we add value to it, knowing that paddo capital gain will be flattish over the next few years. both coming up for auction and hope to score on one of them

we love darlo also but mainly one street – high side of barcom st. stock doesnt come available there often.

spider, we like your suggestion about setting it up under a trust. we have been exploring it for sometime now but waiting to see final calculations to see if it really is the best option.

ah well, we will keep looking and hoping.

thanks again and keep the feedback coming

julie

hi spider,

i wish my budget stretched to $1.5mill – saw an awesome house not that long ago on forbes st, darlo for that price

really looking at entry level paddo – nice street, sub 150sq mt block, no carpark at sub $1mill pricepoint, possibly less depending on level of renovation required. of course this pricepoint in surry hills will buy a house requiring no extra works at all.

cheers

julie

thanks for all the feedback

as im looking at a terrace house atm, i appreciate what heritage listings are all about.

having said that, i dont mind the conservative outside facade (thats one of the appeals for me) but internally im a 100% contemporary sort of person and plan to do major works to this place if successful(think dr who ). my other major problem is that this place is brick externally and ideally i’d like it to be a rendered finish like most the houses in this street.

really want to be sure my dreams are doable before proceeding with making an offer on this property.

a lot has been done to this property already internally so im hoping it wont be a huge drama.

thanks again,

julie

thanks liz for your contribution. my thinking was the same as yours from day 1. we are working towards getting something before 1 july as i know the laws will be changing surprised it was released like this in the first place to tell you the truth.

never thought we were were eligible for the $7k as hubby bought may ’00 interesting article though although like you i feel that it may be innacurate. if we find a place prior to july ’04 we will run it by the osr and our solicitors but we are pretty sure we know what the answer will be.

bad luck henry. looks like we both miss out on that part.

thank everyone for contributing

julie

Liz,

firstly, thank for taking the time to answer my question. i have gotten my husband involved in helping me respond

the reason i believe im not eligible for fhog is because we would fail pt 2 of the eligibility criteria – ie, my husband owns an ip purchased pre july 2001. the reason i believe im eligible for the first homeplus is because we have never “owned and occupied a property”.

only reason i asked the question was because the article in the daily tele confused me a little by saying that if i put my name solely on the contract given that i have never owned a property i would be eligible for both the fhog and first home plus. the more i read this the more sense it makes.

i make reference to the july ’04 deadline because the article as well as a few others i’ve read have stated that there is an amendment to this policy that will come into effect as from july ’04 that will tighten this eligibility criteria and make people in my situation no longer eligible.

cheers,

julie