Hey Jamie, 

Thanks so much for the reply. 

I didn't pay LMI on my apartment. My folks were nice and setup a loan on their own house to help out. But that has all been closed now so I can't access it again. 

How does the 80k loan work? Would that go through bankwest if i stay with them to get that loan against the apartment? (separately). 

We…[Read more]

HI Shahin, 

New house will be purchased in both our names. That's the plan to use the 150k in the new purchase. But just not sure how to get that (well more sure now thanks to the tips here!)

Just to be clear, I don't have the 150k deposit. Only the equity in the apartment – that's all. 

Hi Shahin, 

thanks for your respone – much appreciated.  here's the answers:

1. First thing to do is change your existing mortgage to Interest Only and have a linked Offset if you haven't done so already.
Have not done this. Never even thought about it. But can certainly look into it. Woudl i do this through bankwest (or the bank i re do it…[Read more]

hey there,

great point thanks Jac.

You’re right tho, about the tenants. My current tenants are great and I’m confident I can weed out the baddies, famous last words hehe.

I was looking at laminate – do u know if this would be the same result in noise compared to wooden floorboards??

Cheers

ahh ok could consider that if I totally get rejected.

I am guessing that laminate floors are just as bad as wooden floors..

Hello Jac,

I am a very light sleeper myself, and have been living in apartments for the last 3 years.

The guy above us is quite annoying – he is just not considerate. We only hear the occasional thud when he drops his boots on the floor after coming at 5am sat morning which he does every week and sometimes music when he has a party.

I totally…[Read more]

Hi Duckster. thanks for your reply and advice. big help. It would be my contents that is in the apartment. Essentially i will take all the furniture out, but really want to leave the fridge/washer/dryer in there… as they fit perfect and are a hassle to get in and out… even though I was advised against renting a furnished apartment out in that…[Read more]

Hey All thanks for that. I gave it a miss. besides someone offered alot more for teh property than it was worth so good for them!

Looks like you got a good deal! This one is asking 319k and im putting an offer in for 307. A one bedroom in same complex sold for 16 gran less than  what they were asking so i know i can get away with it.CheersJoel

Thanks both for your comments. Good tips… If i were to move in and out at later date essentially it would be like a year or so to still get CGT benefits… decisions decisions!Your right tho it is a lifestyle choice!ThanksJoel

No comments? surely someone knows something…

Hi Richard, Thanks for your reply.  So I should be able to get the finance finalised prior to auction – depending of course on the final bid? I will be living in the property for a minimum of 3 years. I will be doing it up and so it should be pretty sweet once im finished hence i'll want to stay there Im sorry I dont understand what you mean by :…[Read more]

Hey Matt, Thanks for that. The only other issue I have is the auction has to be unconditional. So whilst I can get a pre approval – the actual approval wont occur until i actually buy the property and the bank does an evaluation on it. Is there anyway i can ensure its fully approved prior to auction? So i can bid unconditionally? Cheers

Hey again – i have another alternative… to buy with my sister- which i hav ea great relationship with. We could get someting worth 500k between us give or take 20k. . But then i have to divide the profit by half… what do you think?

Hey Don, I could definately do it up on the weekends. My dad is a builder so i can good tips and do it myself. However id have to find one that wasn't a large block and didn't smell hehe. I like the idea of a 1 bedroom because then its done and its notin the 300 mark. more like 250 for a nice one. Your right tho i could do it up and increase the…[Read more]

hey all, thanks for your comments above. I guess the reason I'm looking at buying off the plan is because in two years (when the complex is finished) i will be better off financially less in debt and be earning alot more at my work. I guess there is no gaurantee that the price will go up in the apartments… if they go down id die! . So yeh thast…[Read more]

ok great. It woudl be more like 20% i think. 5% woudln't be enough to get rid of the LMI would it?Cheers

Hi Richard, Thanks for that. So its not a bad thing for mwe to ask for them to do gather? The only problem is they will be selling our home (we've had it for over 20 years) as us kids have all grown up and moved out except me. They will be selling it in the next 2 – 3 years. Not sure what would happen with that loan then? Would it have to be…[Read more]

Marc, Your brilliant thanks so much for that.  i had no idea you could do that at all! Thanks and Regards,Joel

Hi Simon, Well for instance if i go to a standard loan calc on the net. and punch in:Loan Amount: 250KInt: 7.25%Length: 25 yearsFreq: MonthlyRepayment Type: Interest onlyMonthly repayments: $1510.42andLoan Amount: 250KInt: 7.25%Length: 25 yearsFreq: MonthlyRepayment Type: P&IMonthly repayments: $1807.2That extra 300 bucks is not a big monthly diff…[Read more]