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I’d appreciate a copy as well if possible. thanks in advance.
Qlds007 wrote:Owner Builders are not the favourite clients of Lenders so you will be limited to around 75-80% Lvr.why is that? is that LVR inclusive of land value also?
i feel that there is a chance for me to save some cash with being an owner builder, therefore thats my reason. thanks.
i'm a newbie too, but if i was single with your current specs, eg, 100K cash plus a very decent income, I'd be renting and looking at getting 2-3 properties.
back on the subject of negative gearing…in my mind a little over-rated.
i just discussed the idea with a few ppl doing it and the consensus was basically that you had to pretty much rort the system and 'increase' your expenses on the investment property in order to maximise your tax return.
i wouldn't feel comfortable doing this. i'll keep looking and learning.
TheYoungInvestor wrote:Thanks for that Tony BAppreciated Not buying anything anytime soon waiting for the prices to drop right down and more affordable then will snap up few bargains and invest
i've been trying to buy lately and been outbid 3 times lately. when they dropped the interest rates last week, i decided to stop looking for homes for 6 months or so with the hope of a 10% drop in prices or so……………….now, with this 21K FHOG, I'm displeased as I don't think this will help my cause, which is to get a cheaper house and smaller loan, not an even more expensive home and loan.
i'd be interested if the FHOG would apply to owner builders? I wouldn't mind building on my own as an owner builder.
elkam wrote:Hello dublin_101In your calculations I think you may have forgotten to use the 50% discount to CGT because you've held the property for longer than 12 months.
Cheers
Elkathe way i calculated was:
purchase price: 200K
sale price after 10 years: 300Kthat is 100K profit and I calculated the CGT at 25%. Therefore on the gross profit on 100K, i'd be paying 25K………….leaving me with a gross return of 75K.
my input would have been 61K over the 10 years as per the calculation used on what I have to pay per week out of my own pocket.
Therefore with a gross profit of 75K against an investment of 61K………….I was thinking what is the point of the investment???
thanks
i put in an offer (high 300Ks) on Monday and on Tuesday I was informed it missed out on the house.
then later that afternoon the news came thru about the 1% drop in rates. No, I didn't do a knee-jerk reaction and think 'yeh, i can boorrrow more'. i went home and read a lot of comments on the net where many ppl were saying that we are braced for a recession.
i'm now sitting trying to come to a decision whether to buy or not. i'd be happy if house prices go down 10% within the next 6 months or so, but at the same time, I'm a little worried that this may not happen.
is there any way of getting this info online? thanks.
