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Yeah I was wondering about the finance side of it too and I wanted chat to those who are doing it first hand.
I did some research last week to find out the nuts and bolts about it. M.Investigator the ACT Revenue Office page only tells you part of the story. There are actually 3 ACT govt. agencies involve and I called and spoke to two of them to understand the end to end picture. So seeing that there isn't a lot of info on the web I have put together an unofficial FAQ.
You can check it out here if you want to know more http://www.hammerandheels.net/act-land-rent-scheme-how-it-works/
They say 1200 blocks have been rented so far under this scheme so there are people in Canberra doing it. If you are one of those people I would love to talk to you.
Angel
I could never live in a house without built in robes.
Actually in our current house I have the whole walk in robe in the master bedroom to myself and my bf uses in BIR in the spare bedroom. In the last house, the BIR in the master wasn't big enough so I turned our 3rd bedroom into my walk-in wardrobe
I’m a blogger. Started last year when we started building our house.
Wow, thanks for posting the link.
I’ve always wondered about the quality of work on these renovation shows with the time and budget pressures of delivering for on screen reveals.
This one is a shocker though.
I’m surprise that CB would leave it in that state and risk her reputation like that. After all she is Australia’s Queen Bee renovator. There as got to be more to the story.
Hi i’d love to see the pics too. Please email to [email protected]
ThanksHi Greg,
I just got my construction loan approved two weeks ago. They valued the land and house separately. The value of the house/building was the construction cost that the builder put down in the contract (so basically what it cost me to build the house). I had to send the bank/valuer the building contract, council approved plans, all the specifications and the inclusion list.
So if your houses were going to cost $200K each to build, the bank's valuer is not going to value the building more than that. You should check how much these blocks of land are really worth. If you are paying $210K with a house on it now, once you knock the house down (which is not cheap by the way) the bank might value the land only at a lower price?
Before I buy anything I always get an independent valuation done. It costs $440 (including GST) but well worth it in my opinion. It gives me more confidence that I am doing the right thing (but that's because I don't know a lot about the property market).
Good luck
I have great news!
A designer from Basalte wrote to me (via comments section on my blog) and they said they do sell them to Australia. It is through a bus system called KNX. They even have a re-seller in Canberra who does the installation as well.
I'm going to give them a call this week to find out details. But I;m a bit scared now that I won't be able to afford it.
I will keep you posted.
Hi Jack,
Here's a few you might be interested in.
http://www.bookshopworld.com.au/property/property_renovation.html
I'm thinking of buying Renovating for profit by Michael Holmes. I wonder if it comes as an iBook.
Thanks for the great thread.
I'm certainly feeling more comfortable with the choices I'm about to make in this market.
All that for $45K. That's impressive. What's next for you?
Angel
Good idea. I'd also recommend a hot bath with Epsom salts, lots of them.
We got more sample pots today and think we might have found greys that don't look blue. A couple of the small areas we painted are looking good but we'll see how it turns out tomorrow after we do a couple of whole walls. I have all my fingers and toes crossed.
What colour are you painting yours? Which suburb are you in?
Angel
Jamie M wrote:Angel 13 wrote:Hey, I'm Angel from Canberra. Looking forward to hanging out with people who share my passion.Catch you all soon.
Always good to see another Canberran on the forum. Welcome aboard
Cheers
Jamie
Hey, I'm Angel from Canberra. Looking forward to hanging out with people who share my passion.
Catch you all soon.
The renderer just finished our house the week before last. I've taken two weeks of annual leave to paint it. We've almost finished the first coat (with a roller) and OMG my body hurts from head to toe.
Unfortunately the greys are looking blue in certain lights so we're going to have to change the colours
P.S. Jamie, I found this forum through the link on your website. Thanks heaps!
What's the results program and who runs it?
I had Lasik last year through Vista Eyes and it was money very well spent. The cost was $5,300 for both eyes and their service was fantastic. It was an interesting experience too, the actual surgery part took less than 5 minutes.
Angel