Forum Replies Created
You dont have to pay your tax until the next April. In other words put your tax return off to the last possible moment
Fern
My first thought was No, what can they add above the signature. After reading all the posts, my second thought is No – if it seems to good to be true it probably is. And then I thoght I was probably taking the whole thing too seriously – so my third thought is No – just natural paranoia (?) the Nigerian scams, and the way I was brought up.
Fern
It is true in Vic that once council have approved your plans to build No. 2, subdivision will be approved as a matter of course. I gather you have checked with Council that the land meets regulation size to permit 2 homes. Are you planning to renovate house No. 1, Are you planning to live in it or rent it? Could you have it revalued after reno. Could you rent cheaply elsewhere, rent No. 1, take rent into account with bank for serviceability on reserviced loan. Could you sell house No. 1 and use proceeds to build No. 2 and thereby owning No2 and using equity to go onto next project. (Sometimes you have to go back to go forward)
Fern
Congrats on new babe. First the bad news. Having new babe will be totally different to movies/TV Baby could scream day and night with colic, not breast feed, be alergic to formula, (require soy milk formula). (All happened to my DIL who thought she would go back to work after having baby – never happened) You could end up with depression and not be able to get out of bed. All of the above probably won’t happen but sorry – dose of reality cause you don’t want to be in too deep in having started something housewise you cant see your way out of. Bad stress on marriage believe me.
Good news, check with local council and surveyor and draftsman (all free advice) but you should get 3 townhouses on that block. One entry from top street and two – one behind the other going back up the hill on a new driveway in from bottom street . You would need to subdivide. Ask local draftsman for “footprint of useable land you could use and use time to design you own townhouses and then get them drawn up by draftsmen. You could even get approval from Council and sell block with plans and buy new house somewhere else
Old house will probably be full of asbestos so I would demolish. But you need a nice house to live in for a couple of years while you have baby/ies and save. Spruce up existing house with cheapest new kitchen you can find. Paint everything like mad, In Qld you don’t need new carpet, can you have floors polished?. Cheap & cheerful is what I would be aiming for. Couple of years down the track you can decide to build 2, live in one, sell one then build the third one. Just a thought, good luckFern
The product is called Claybreaker & can be bought anywhere, just sprinkle and fork it into the ground.
On another sidebar re bonsai. Did this for years in another life and you can fast track this by planting a little tree in the ground, let it grow for a period until you get to a size you want, watch it all the time for pruning and shaping. Dig it up and choose a nice root and put a suitable rock under it (for visuals when potting) , nip off the bigger roots and replant (obviously in winter), cut off branches you dont want when they are small, lop off the top, when it is small, which will bush it out, lop off branches when they are small (so you dont get big unsightly scars on trunk and topand make sure the cut when you cut off the main trunk is facing away from the front of the tree), wire it to the shape you want, then when it is the right size, dig it up, cut off the bigger roots and leave the small feeder roots, and pot it into a bonsai dish. Choose a dish with two holes in the bottom, using one wire through both these holes and up around the trunk to stabilise it. Obviously choose a hardy tree without a tap root as cutting this will kill it. Jap maples are pretty good as they have small leaves to start with. These can look good at about 300mm high in about a 300mm oblong bonsai pot. Start several and hope one survives. Good small, older (stunted) stock can often be found in bigger more unltended nurseries, i.e. country. Good Luck.Fern
Johnno2 I would be very interested to know a bit more about your friends development. What suburb in Vic, how far from t/port, shops, is it two on a block or duplex, it is 2/3 bedrooms, singledouble storey. What price range was agent suggesting to buyers. Did you think friends expectations overpriced in existing market?
Fern
Legal rights are all very well and good. Actually getting your money is a whole other ballgame. Get the rent happening again first priority and then ttttrrrryyyy to get whatever else you can
Fern
This is the order for reno
1 new wiring, inc for any big changes, like electric oven, new hws kitchen & bathroom gpos & ceiling fans etc, lights etc
2 any new plumbing req. (changing position of kitchen sink, new bigger pipes req for hws etc.
3 new window
4 new kitchen & bathroom makeover. I assume you have already chosen tiles & have them waiting for tiler, laminates for benches and cupboards already chosen and ordered)
5 patch & paint inside
6 timber floor polishing (leave some windows open for airflow else polish can ‘bloom’ up new paint on walls
7 new carpet
8 new roof & guttering
9 paint exteriorFern
Definitely talk to the agent first before Solicitors. I would think you could pull out of the contract because of the Architect plans advtsg. alone. Unfortunately its buyer beware regarding the renovations.
Fern
I would lodge a Notice to Evict forthwith as this gives you the legal leg to stand on. – then go and talk to her again. Tell her “you are really sorry shes in this position, realise she’s waiting till guy might decide to return but you are in a real pickle and rely on her rent to pay mortgage and you are getting behind, will lose the house etc. etc. What can you work out together? She can go to the Dept Human Services and they will pay her rent for a while, can she borrow money from someone (Mum/Dad) for a while, or (my choice)
could she get a border in to help with the rent
but you really need some decisions on her part quickly” Then you have to realise you are not St Vinnies. My second motto is -if it comes to this – “either you can be happy or I can be happy, I’d rather I be happy.Fern
Dazzling what a creative way of presenting to get unbiased input. I loved it. Why not insert that good old clause whereby you can search for and sign up clients for the top storey before you actually take possession. I would be immediately emailing the property depts of all govt/type depts offering the top floor and get feedback before you even offer on the property. Maybe laterally thinking -the local hospital has run out of room for a particular dept. A few suggestions as to why it has been hard to rent. Check if the top floor has its own entrance. If not is there a central foyer with doors off into the ground floor tenancy or would top floor clients have to walk through bottom flr clients space. If so what costs involved in creating entrance foyer and isolating off staircase. Maybe space too big for one client. If so what about turning it into smaller offices or serviced offices. Start thinking creatively for that top space. I would be thinking installing a little cafe somewhere and renting that out to someone to run down the line too – (obviously dependant on how far to shops etc. It sounds totally exciting Dazzling how wonderful to be playing at that level. We are all in awe
Fern
I am in Vic too and you have to give a tenant 4 mths notice to vacate (they only have to give you 2wks mind). You can give them 60 days notice if – there are reconstruction, repairs or renovations planned, the landlord or his family wants to move in. You are obviously going to do both of these aren’t you???. No way go to court, your PM and everyone else who can will charge you. I have never heard of going to court as a matter of course. I would go around to tenants and ask them if they have a problem with the vacate notice and take it from there.The PM works for you so just tell them no You can also ring Department of Justice – Consumer Affairs on 1300 55 81 81 and discuss all this with them and they will send you a free booklet with all this in. Don’t panic – you’re OK
Fern
Michael, I realise the counter-cyclical buy theory but would like your advice on selling in a down market. I am wanting to sell a new townhouse in a really good suburb in Mar but could hold onto it for another year at a pinch. Do you believe the market in Melb will drop further, or hold steady and patchy for a few years.
Fern
Don’t know Tarneit at all. Pt Cook has massive new housing out that way and the growth corridor out from the city through Caroline Springs has been huge and I see it continuing as it is cheap compared to going out the other side of Melb. Is the block on an estate with good quality homes around it. There are some very expensive estates out that way. If its a block left on an estate with all quality homes two storey homes around it, it is a different matter to a block in an estate where there is still lots of land and only middle class single storey homes. You really should look up other blocks/homes in the specific area, work out costs for the sort of home to build (not overcapitalising against other homes on the estate)and see how the figures come up
Fern
Roxburg Park – I didn’t buy there when it first opened because it was Urban land authority and the next suburb on from Broadmeadows, Dallas – very low class, and I judged it would only ever stay cheap – WRONG, but the growth has gone out of it now. Craigieburn has just had a new freeway extension opened up to it from the ring road which chops 10 mins off travel time out there from Melb,
Fern
Hi DLPP, are you the old Don and Liz from NZ, in that case double hi. Yes I just came to that brilliant conclusion last week. If I can get the new T/H up and running enough, and put my existing PPR on the market late Feb early Mar, I will still catch the summer buyers, I would then have the 3 mths settlement to complete the new T/H PPR. We could even move in a bit unfinished. We are demolishing the old weatherboard between Xmas & NY, trouble is I can’t get slab poured before 2nd wk Feb, so it will be close. Weatherwise it doesn’t seem to get that cold in Melb anymore (but that is cyclical? too. It just seems everyone gets out and does more here in summer, including shifting. My market would be older people downsizing though and I suppose they have to do that anytime.
Fern
Thanks Matthew,thats a good idea, I will talk to some agents
Fern
It sounds possible to me. My drafting guy (very experienced with the Council I deal with) told me that once approval to build has been issued, subdivision is issued as a matter of course. Speak to a surveyor too. I have built a new townhouse behind an old house and it all went as above. I wouldnt be telling the prospective house purchasers that you will be building as the construction noise, trucks etc. might put some people off
Fern
I have had aluminium cladding on a large home for approx 22 years. Absolutely brilliant as far as no painting goes – only need to do windows. It is now an IP so great. Only problem the kids did dent it throwing balls at it in one spot when younger. Will it add value – not a penny. If you ever aim to sell repaint. You may not need to replace all bad weatherboards, Builders bog can do wonders with smaller areas and save a lot of time getting old board off etc.
Fern
Me again, – about $2000 for water, extra for gas & power – new lines, meter etc. If power not on your side, drilling under road to bring across.
Fern
