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yes there are a lot of members of this board that have been messing around down there – particularly in the Anchorage. You are looking at very storng growth areas, but if you can find anything at all in Perth for under $250k I would grab it.
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“Other things will be sacrificed at the economic alter well before anyone dares to dictate to Ozzies what and where and how we drive. “
I don’t think what is happening supports the theory that Aussies won’t change. I read the article on The Australian website yesterday discussing the decline of the Commodore’s popularity and they pretty much said it is a dinosaur waiting to be buried… big cars are just too expensive to run now. Holden is just scared of dumping the big fanily car as this has been it’s identity since meat pies and football were invented.
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Hi Mei,
yes I was non-resident for many years, but have now resumed Aussie residency. I just need to try and remember what I was doing back then
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probably just a crap agent. It can work in your favour – the person who paid $251k wouldn’t be complaining!
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i just heard somehting on the news to suggest fuel prices could halve in 12 months. can’t see it but interesting.
when the new basix codes come in in WA I expect we will see a jump in construction costs and a decline in approvals.
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ps – if you plan on financing the construction for a kit home be sure to speak to your broker before you get too excited. they are almost impossible to finance, even using a chattel mortgage proved to be a dead end.
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can’t speak for RS, but from personal experience building with fleetwood hasnt been a bed of roses. they are just as swamped with work as the rest of the building industry, so expect delays for engineering drawings, council aproval, general building of it, price rises along the way (particularly the steel element)
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hi natwayne – it took me about 3 years from woe to go to build the house I am in (and a serious amount of grief). I will look at it in a couple of years maybe but am happy to relax a bit. PPOR is a great tax relief when you are effectively developing for yourself so it is important to take advantage of it.
anchorage titles are about 3 or 4 months after release date, rivergums latest release will be titles around january but they are asking for huge deposits now (5%), baldivis central is quicker but nothing for sale there, meadow springs is about 3 or 4 months away. so generally 4 months which isnt bad.
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If he/she has the property listed and doesn’t have a copy of the title they are in breach of the real estate and business agents act. anyway, to speeed things along just go to your settlement agent and pay the $20 or so for them to search it for you. It sounds like the agent may be playing games with you tho.
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very interesting. I could apply for some refunds, but then I would have to add them back into my personal return as I have claimed the GST component as a deduction, so it would be a lot of hassle. thanks for the tip tho and I will add it up to see if it is worth while
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yes I looked at the mounts bay ones about 8 years ago and can say i am glad i didnt invest – the growth in that time would have been minimal. the huge emu brewery apartment tower (70 odd stories?) will be a few doors down as well and you will be competing with that
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opinions… well Lancelin is a go ahead near Perth beach location which I would think should continue to grow nicely. Bridgetown is the new and affordable retreat for the boomers that can’t afford Dunsborough – a beautiful place and set for good growth. my pick would be Bunbury tho, the freeway extension should set it up nicely.
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well I hear of people saying things like “it’s a one off, I will fly under the radar”, yet the ATO has made quite a big deal this year out of targeting one off property transactions and their ability to match state reveneue and council records etc against your return. the guidance I have read is that a one-off transcation can certainly be an enteprise. Julia’s booklet is always an excellent resource for this type of situation:
http://www.bantacs.com.au/booklets/How_Not_To_Be_A_Developer_Booklet.pdf
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and then when that deal is organised you will be in a position to start on another spec home, as the first one wil have nil cash requirement. of course it will be hard to collect the same profit from a house and land conpared to a spec home. with the house and land the buyers bank will need to agree to (a) the current market value of the land and (b) your building contract. The 2 added together are unlikley to be the same amount as your spec home less holding costs.
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check with an accountant I would suggest. These things come down to intention but from an outsiders point of view it could appear that you have built a spec home. As such you could be liable for GST on the sale of the completed home and the net proceeds after that will be assessed at your full marginal rate – CGT would not apply in this scenario. And proving intention can be an interesting process!
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Originally posted by melbdude26:A WHOPPING 80 per cent of Australians believe houses are overvalued and more than half expect prices to drop over the next quarter, according to a survey.
http://finance.news.com.au/story/0,10166,16053135-14302,00.html
yes I discussed this ‘survey’ on another site. it is total rot and is sad to see it is still being tossed around as serious research. Having done the survey I can say that some of the questions forced you to make inappropriate responses to continue to the next question.
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these prices couldn’t include very much. i think the headline prices like this exclude siteworks and are pretty much a shell of a home. if you want to build a finished 4×2 with double lock up garage as a complete turn key investment you would be looking at $150k – $180k depending on size and fit out e.g items such as air cons, dishwashers, landscaping etc.
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I have read quite a lot of discussion on custodian and there seems good and bad points. Consider a DIY job like building a kitchen as a comparison. You call in a cabinet maker and he can provide the materials as well – you pay him a hefty premium to get the job done fast and professionally and you may benefit from his purchasing power on the materials. Alternatively, you can give it a go yourself and if you are any good you will save money and do just as good a job. It all comes down to your skill levels and how much time you have. If you have these 2 factors then you would be better off organising the investment yourself. If not, then they would be a convenient solution for entering into the property market.
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Hi Brenda – just to follow up on your point “Proverbs 22:7 “The rich rule over the poor, and the borrower is servant to the lender.
I have no wish to be servant to my lender via maintaining and tenanting IP’s with them owning 80% and me doing all the work and only owning a mere 20% share.”
note that they don’t own 80% of your property – all they own is the right for you to pay them back what they have lent you – an amount that is fixed and does not adjust for inflation. otherwise we would all be getting rich by leaving cash (ungeared) in a term deposit account – which we know simply won’t happen. as inflation erodes the value of th mortgage and property continues to grow in value (unlesss the earth explodes of course) then you will see your wealth grow.
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if the end of our economy as we know it is nigh I really don’t think any of us will be in a positon to buy real estate, much less care.
I dont buy this whole line that depriving and beating yourself up will make you rich. loosen up guys, you ahve to live a little along the way.
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