Forum Replies Created
Thanks Terry, will chat to my mortgage broker
investhut
my ideal budget is 550k and might consider 600k and looking the very same areas.
wenty, pendle hill and then seven hills/blacktown.
from a growth perspective i think wenty/pendle hill and better than toongabie. just bcoz the closer you are to westmead/parramatta, there is more demand.
if you going to toongabie, then might as well consider south blacktown, with fast and many trains into City?
investhut
hi all,
i did get response from them, it was just short notice and half the time they are in city..
in short both are very normal conditions for everyones knowledge and some solicitors just choose to put everything under the sun the cover the vendor.
but confirmed by my solicitor nothing to worry abt and 99.9% you can ignore them.
regards,
investhut
Hi,
Thanks for your input. I did say will discuss with solicitors today.
they said, its probably a last minute bluff and they are seeking price discount thats it.
of their possible 15 plus list, we finalised will just fix a cracked window and only toilet seat cover. take it or leave it.
rest is their decision from there.
solicitors both local in same area said, this letter from Purchasers Solicitor is common and kind of beyond belief.. but worth trying.
Regards,
Investhut
thanks guys!!
I will second that, thanks to all for sharing their knowledge and wisdom. Not only me, but 100's other benefit from this forum.
Thanks Michael,
I was happy to Pay this one down as i had no need to move, minus two big things happening very soon to each other.
Will do the sums, but Stamp Duty in this case in NSW for a prop worth 240k – 250K is only about 8k and 1-2 for my Solicitor.
so Im looking at 10k to get in my Dads name, then let it rent out, while I am not sure where I want to live..
Thanks!
Hi Michael,
I owe about 1k on the property, which can be paid off anytime. The reason for Trasfer is, I dont know where is want to live for next 1-2 years, happy to rent closer to my Sister. If I rent it out, it will bring 300pw as income in rent, and more 40% will go to ATO.
but I will still need to fork out similar 300 per week for Renting closer to my sister…
also this way, what rent I get, we (me, my wife and my father) can rent something similar and live in it.
honestly in last 2-3 weeks I have had to make big decisions, whether to sell or rent it, or transfer in my days name
but also whether to buy something else a lot more sooner, but Im thinking avoid the buying decision for now and just rent for 1-2 years.
Thanks
thaks Derek and Jamie,
honestly the situation has changed way beyond my control in last 2 months. i had our first Baby and my mother passed way 1 week after that. so for family reasons I will be renting closer to my Sister home for 1-2 years..
all i know is have 175K redraw, prop will rent for 340 per week. I am happy to take the money from the house and reinvest in IP. but that will take 1-2 months to find the next right IP.
but can I rent the Prop say from 15 Oct, find the right IP sometime in Nov and then use my redraw to show 20%, stamp duty and other cost for the IP..
sorry my Accountant is currently overseas, other wise would have quizzed him as well.
Thanks,
Manish
jamie so if I take the money out and put it as 20% deposit for 1 or 2 IP, then it has the same effect right?
Thanks
Investhut
oh yeah, Im also on 95k a year income, so def pay lots of tax.. and the prop will rent for 320-340 per week.
being close to station, shops and 3 schools
thanks,
InvestHut
hi richard,
thanks for your responses. i checked I am on this loan:
https://www.loanaustralia.com.au/Our-Home-Loans/Other-Home-Loans/Flexi-Plus/default.aspx
so it looks like I am with full offset facility only, from what I can read/understand
regards,
investhut
Hi Richard,
For my current property, i have say 185k available in redraw, as I bought the property for 220k with 20% deposit.
would I not completely refinance, but home and new property that I want to purchase with a new company.
they would offer 2 separate loans, for townhouse say its worth 260k now.
they would make the loan for 208k, leave 20% in there.
for the new home/prime residence, bring forward the 208k, the loan will be 232k on a 440k property.
I am assuming, that for townhouse, 208k loan, interest will be tax deductible, am i wrong in this understanding??
investhut
thanku to both of u… makes a lot of sense.. will keep u posted.
thankyou all.. this makes so much sense
really this forum is the best.
i will see mortgage broker over weekend n sort the loan out…
where i am looking i am getting 7-8 mins walk from station fibro home for about 330k or bit less. it its a bargain.
also there are 3 drive from station 3 bedroom brick home… for same or bit more…
any suggestion here folks?
with the way petrol prices are n traffic in sydney… i think fibro close to station will do better in 5 years time???
any input/direction??
Hi All,
Nothing againt Dubai, but could not resist as I just came back from there.. I was born and lived in dubai before I came to Sydney. I have most family there.
few things to consider which only an insider can tell u….
1) its not democracy, its sheikdom… rules can change anytime… and as the ruling family sees fit.
2) for same job, that an arab national does, a white person does or any other nationality. everyone gets paid differently..
3) currently everything is over developed….. but little or no infrastructure in place to support it… yes the train lines are coming,,, but it needs more of everything..
4) there are many many buildings which are sold basically to black money of the world… and most towers in dubai marina, palm jumeirah etc.. are mostly empty…
5) the extreme weather, which everyone knows but living in 50 degrees is not easy..please consider both good n bad points. n i recomment do visit the place…… n decide for urself.
InvestHut
Hello Everyone,
Atleast someone can shed some light regarding the CGT implications, of renting a first home from day one…
Thankss,
InvestHut
Hi All,
i was thinking of renting into the vendor (from whom I have purchased it), i know they are building a new house and it will take few months for that to complete.
dont know if that info makes sense.. or helps in this case.
tc
InvestHut
Hi Jon,
thanks for your input, much appreciated. being a first home buyer, this whole process has been a big learning curve…
almost certain that no approval exist. the wall itself seems well withing whats its boundary should be, if anything it looks it must be behind where other villas garage boundary is.
now bcoz of query the Strata Manager is aware that this change has been done.. so i dont know what his response will be in near future.
i am having till tomm, i am really looking at either pulling out or want the vendor to reduce by atleast 7k-8k.
as there was shower leak behind the tiles, which can cost 2k-4k for water proofing, re grouting and re tiling. i thought thats ok. i can manage that. as pulling out will also cost me 2 k.but now if i have to change that brick wall back to some sort of garage, i will argue tomm. that it will cost say 4k-5k and plus 2k-4k for shower redo.
and really ask them to reduce price say by 7k-8k.
regarding this garage issue, i will tell that it will need rework any sudden time if i am asked to do… plus whenever i wanna sell this i will face the same issue of many potential buyers being turned off.
InvestHut
