Cool,

Thanks for going to "Beartown" aka somersoft, Jamie. I'm doing in the .40% dance right now…. makes a big difference .

Cheers

D

Hi gavsam,

Keep checking the council website, they should have all the current planning scheme, amendments, and anything else that is currently in the works on the website. You've gotta watch the mail-outs, it's supposed to be everyone in the area, but it's not everyone in the suburb.

You can also read through past council meeting minutes where you can see if there are consistent refusals of certain developments, or if a planning issue is current and has been dragging on for a year or several years.

You can also subscribe to the planningmatters newsletter on the planning depts website, which will give u weekly updates on planning amendments and schemes that are coming through.

If it's worth money to you, better keep on it

Cheers

D

Yeah my V8 guzzler loves that petrol!

But this makes me think that higher fuel costs will fuel (scuse the pun) market demand for residential property that is close to amenity. Rate drops might encourage a few who have been diddling around to get in to the market and lock in a fixed rate.

But cars are a good investment …… right ;P

Cheers

D

Cut back on groceries to pay mortgages – what a great idea.

Hear me out, firstly, obesity epidemic, might reduce that. Secondly food wastage. We've cut back on junk, basically quit drinking alcohol, and make sure we use up all the food in the fridge. I'm happily cutting back on the food bill, fresh fruit and veg is cheaper and better for you! Supposedly Aussies throw out heaps of food, so maybe it'll cut that down.

Now, aside from that anyone got a crystal ball on petrol prices, I almost cracked $100 for a tank the other day……….. between that, the carbon tax, and lower immigration, it'll be watch this space for consumer spending.

D

Hey Kong

I think the purpose was for fun. I completely believe there is no correlation, as many people who have no wealth will buy hideously expensive cars on finance. ( I know a few)

And many who have plenty of wealth will buy a nice plain car that does from A to B.

I personally use my car as inspiration, my first car was FREE from a front yard, I drove it home with a flat tyre and spray painted the front quarter panel with a spray can, the other 2 cars I bought (Kingswoods) were $1250 each. I drive my car, and I feel like I'm headed in the right direction. Sure it's not a Maserati or and Aston. But maybe later…….

BTW Kong, fess up buddy….

It's good to have a bit of fun.. now and then.

Cheers

D

Hi 1desi,

On the other side of things, you may find that some councils require you to have a permit for a rooming/boarding house if the number of separate people leasing a house is over 4. You may be required to have extra fire proofing etc. Some of the brokers on here should be able to give you the banks take on this deal.

In Vic there is this publication…. not sure what state you are in.

http://www.google.com.au/url?sa=t&rct=j&q=rooming%20house%20regulations%20victoria&source=web&cd=2&ved=0CEQQFjAB&url=http%3A%2F%2Fwww.stonnington.vic.gov.au%2FDownloadDocument.ashx%3FDocumentID%3D2946&ei=y2abT7SoL62yiQf-mPnJDg&usg=AFQjCNGPObRzjYPVaFiGJBcLywTy8PDsKA&cad=rja

See how you go. Keep us posted.

D

In a normal lease you cannot sub-lease without the owners agreement.

In this case I would say, no-no. Questions you need to ask are, what happens if you lease it, then settlement falls through? How will you then easily evict your tenant? What about a bond?  If the tenant causes damage, and settlement falls through, then what? As you are not the owner of the property legally you can't sign on the lease. You will have no legal recourse, you have no paperwork. If you want to lease it, be open with the vendor and explain that it is to be used as IP and that you wish to advertise for a tenant and get one during the settlement process. Encourage them, through the agent, to get a tenant (they will get the rent of course) but they will also pay for the leasing fees etc, and you can then have a legitimate lease when settlement goes through.

Good luck, keep us posted!

D

Great segment. Thanks for putting yourself out there in order to help others, lawsjs, and of course the others in the segment.

Cheers

D