Geez, we were owner builders and thank goodness we didn't have any of the problems mentioned above. Mind you we did live in a rural area where very little ever goes missing but if it was in town it would have been a totally different story. It was a big job and we build a great place that was done better than many builders might have done. However, we wouldn't do it again because working and owner building is very wearing. Owner building did give us a much greater respect of the work builders do.
I think it adds a temporary safety that may save some people from having their homes sold from under them or who will have to sell them voluntarily for less than they would like. It is only a deferral of interest payments – meaning borrowers will still need to pay the interest (accruing interest) down the track. Definitely better than nothing and it will help some people to sleep a little more soundly.
In my local area (coastal mid north coast) I have found that the first home buyer grant has definitely boosted the prices in the lower end of the market. Those properties owned by people still wanting top dollar have been sitting there for 5 or more. Well priced units and houses are being snapped up quickly. However, the prices are still less than they were 18 months ago. I expect the market to soften when the FHOG ends. Rental vacancy rate is very low – less than 2%.
So if I am hearing correctly Reeco, you are saying that it is best to keep your expectations flexible because although everything is being 'delivered', there can be unavoidable changes in the schedule, and rigid expectations can cause frustration?
I really enjoyed your posts of 2 April. I think you have a flair for writing that is just becoming apparent! Fair mix of reasoning and feeling. Yeah, I know, off topic but… hey, we're all human! I cannot wait to read your posts towards the end of the year.
You have my deepest sympathy. We just sold and bought and the bank's inefficiency, tardiness and difficulty in being about to talk to anyone who had the right information etc was quite painful (different bank to yours). We are told it is due to lack of sufficient staff members.
Hehehe. Sure does. Learning from Hong Kong is seriously keen. I have no idea why my name would pop up Reeco. You would have explain – if that's permitted.
It has been interesting to watch the local prices and buyer interest levels from September to now. Prices slumped and buyers were thin on the ground before Christmas and some agents sounded somewhat desperate. (like many people) In the past 2 months, the homes in the low end have increased along with the buyer interest. Units have continued to drop a bit but some villas seem to be holding their ground. At least from what I can see. Agent behaviour has changed too.
It was also interesting see how over priced some properties are and how many smell of mildew in this area. The keenly priced properties get snapped up pretty quickly at the moment.
Those webinars would be very interesting especially if the advice or the issues discussed ended up panning out.
Yep. I have. For those unlucky enough to get a fixed loan before the interest rates plummeted, the portable ones are the lesser evil. You can transfer the security from one property to another or, to a cash term deposit. It also means that you don't have to pay the full loan application fees or goes through as much rigmarole if you would have had to get another loan anyway.
Thanks for feedback. After speaking to council and others we have decided to try and exchange subject to the survey report showing the house is inside the boundaries. We feel pretty confident that it is. We will have to pay for it but it will give peace of mind. The builder of the house had a very good reputation we found out after a bit of sluething.
I think some council personnel may make silly decisions because they are terrified of having their butt kicked and through lack of knowledge.
The building and pest inspections are all good and we know where the pipes are. Just wondered what the legalities are especially if we decide to extend or put in an extra garage.