Forum Replies Created
- Originally posted by aumeow:
should i buy a house over there or rent instead?
This is a personal choice. Certainly RE is cheaper in Melbourne than in Sydney, but the gap between the two cities is closing and both are on a fairly even par as far as CG in the current property market. If you can afford to buy, then go for it, but if not renting may be the better option; again as I said, apart from personal choice depends on your financial situation (ie. after doing your “sums”).if so then what areas should i be looking at?
Depends on your budget, and as I can see from your question below, that is 200K???Which basically leads me to answer your next question……
me and my partner have been looking at st kilda since the last time we visited melbourne and it seems like a nice place
St. Kilda is a trendy place; very cosmopolitan (latte sipping types) and so I don’t think 200K will get you much, at least not anything worth living in immediately.do you think we can buy a proerty for around 200k close to the city and also buy one or two positivly gear property around the area?
BOTH??? Not likely!!![blush2]You MAY be able to get a unit for 200K but you certainly won’t get BOTH a unit AND even ONE positively geared IP. I’m afraid positive geared IPs in inner Melbourne are near impossible.
Good luck, and I’m sure you’ll enjoy living in world’s “most liveable city”!!! [biggrin]
JoOn the left hand side of the screen you will find the word “SEARCH” using this function; typing in the keywords SIGHT/SITE UNSEEN (selecting Subject Only in the Search In section) will bring up pages and pages of threads pertaining to this very subject.
Enjoy!!! [biggrin]
Try this: http://www.ocba.sa.gov.au/tenancies/leasetermination/index.html?friendly=printable
Especially note the section:
Termination by Landlord
Fixed term TenancyUnder a fixed term agreement a landlord cannot give valid notice of termination for a date prior to the final day of the term. The fixed term is binding. The tenancy can be terminated by mutual consent.
The landlord, however, may apply for termination of the fixed term, if continuing the tenancy would cause undue hardship.???
[wacko]Hi Nathan,
Firstly, it depends on what your mother’s situation is, that is, if she is not claiming where she is currently living (or any other property) as her PPOR then she will be CGT exempt if she claims IT (or her portion of it) as such.
Your partner and yourself of course will be CGT exempt as it is your PPOR, and if it not so for your mother, then the most you should have to pay in CGT is the percentage of ownership that belongs to her. That is, if you each own 1/3 of the property, then at most, the only CGT payable will be on your mother’s third (if circumstances do not meet the above criteria).
Hope this helps clarify it a little for you.
Cheers, [biggrin]
Jo
Cafank,
NEVER buy property on “gut instinct” alone (if at all).
How about giving us some more information before you expect people (aside from perhaps a few inexperienced “newbies”) to be able to give any credible/logical reasoning that could help you in your decision making???
Firstly, let me ask:
1. WHO offered it to you, and WHY??
2. The gross rental yield is between 12.8% – 14.4% which in today’s market is almost (note: I said almost) impossible to come by in residential properties.
3. How do you know CG will be minimal??
4. All properties age, so what if it is not going to stay “new” forever, neither are you!!!
Just because a property gets “older” doesn’t mean it loses value!!! Or it is that you invest based on tax deductions/depreciation hence “new” means higher claims???5. How much information do you have on the area?? That is, what infrastructure is in place, what is the population size/trends (ie. growth or decline, past and present)??
6. What is the rental yield of similar properties in the area, and market value for properties being sold???
Personally, based on the “little” valuable information you have conveyed, my “gut feeling” is WALK AWAY!!!
Good luck,
Jo
Welcome to PI Pitt, always good to see a friendly face (avatar?) [biggrin]
Then scan the local pages, newspapers, and pick up the phone during the weekends, or after work.
Failing that, engage the services of a “buyer’s agent” who will do the walking and talking for you.
But a word of advice, it may get you a property, but it won’t necessarily TEACH you anything.
DO FOR YOUR SELF and learn!!! [biggrin]
Cheers,
Jo
You people really need your eye glasses checked [smart][smart][smart] there was a thread started by JackHu entitled ‘DONATIONS” way before Rob’s
https://www.propertyinvesting.com/forum/topic.asp?TOPIC_ID=14678
and I’m sure there was another as well but it purpose wasn’t spelt out as clearly in the title and I can’t recall the author; nonetheless you “blind bats” [smart][smart][smart] missed ALL of them (Rob’s included)!!! [blush2] I motion we take up a collection for those with vision impairment in this forum!!![tongue]On a serious note…..I agree, there can’t be enough pleas for help made, to encourage people to “dig deep”!!!
SO COME ON EVERYONE…..PLEASE PLEASE, EVEN A FEW SPARE DOLLARS CAN HELP MAKE A DIFFERENCE!!!
Cheers,
Jo
at 8 he still thinks money grows on trees….
You mean it doesn’t????[blink]Damn!!! What’s next??? [glum2] First the Tooth Fairy, then the Easter Bunny, followed months later by Santa, and now this……come on, give the kid something to hold onto too!!! [bawl]
Cheers, [tongue]
Jo
Originally posted by padmaa23108:I am from Albury (Albury-Wodonga twin cities),in between Sydney and Melbourne and Canberra.
Oh I see, another “fence sitter” huh??? [rolleyesanim]
No seriously, you’re right it is a nice place. I have friends there and I like stirring them too about not being able to pick which side of the border they are going to inhabit!!! [tongue]
Cheers,
Jo
Hey PK,
How this though…..there are a couple of other insurance companies, I know of at least two, that in the event of a “natural disaster” (ie. cyclone) the property will not be covered, BUT (wait for it……) both the fence and gate posts are!!! Go figure…….[blush2]
Cheers,
Jo
Hi Oldtimer,
I think if you have a read of the current topics in Somersoft (especially Accounting & Tax) you will find Julia has recently made (and hopefully will continue to do so) some brilliant contributions, much appreciated by many, myself included.
Cheers,[biggrin]
Jo
Hi Jess,
First of all a tsunami won’t burn your house down to the ground, a fire will though, in which case as long as you have adequate insurance to cover rebuilding the construction, you’ll be fine.
A definition of “natural disasters†as defined by HLG (refer to weblink below)
A natural disaster is a serious disruption to a community or region caused by the impact of a naturally occurring rapid onset event that threatens or causes death, injury or damage to property or the environment and which requires significant and coordinated multi-agency and community response. Such serious disruption can be caused by any one, or a combination, of the following natural hazards: bushfire; earthquake; flood; storm; cyclone; storm surge; landslide; tsunami; meteorite strike; or tornado.
I have underlined a very significant part of this definition, because the chances of your property being the ONLY one to be struck by a “natural disaster†(Act of God) is as probable as your chances in winning lotto.
Noneless, the cold hard truth remains that in Australia (as in many other countries) although most insurance companies cover SOME damage caused by such events, in general, there is nothing set in place to provide TOTAL coverage. For a few years now, with the increase in natural disasters in Australia alone, insurance council and governments have been discussing a review of insurance coverage offered to communities hit by such tragedies.
http://www.dotars.gov.au/ndr/nat_disaster_report/exec_summary.htm
Finally, in the event of a “natural disaster†(Act of God) you are not totally forgotten; true the government is not obliged to assist, but I daresay they will. Furthermore, there are a few organisations that can help with natural disaster claims; here is one of them:
http://www.idro.com.au/about/default.asp
At the end of the day Jess, please remember, you’re not alone!!!
Cheers,[biggrin]
Jo
Originally posted by specific:If you make a profit when selling an IP, can you re invest this within the same tax year and therefore ‘avoid’ the capital gains tax?
Short answer: NO
Long answer: There are ways to minimise the amount of CGT you pay, taking into account your other income earnings/expenses throughout that fiscal year, but ultimately (unless you have incurred significant capital loss that would negate the gain) you WILL HAVE TO PAY in that same year.[glum2]
Cheers,
Jo
Originally posted by Anion:Does proximity to bilabongs and dingos affect the value of the property?
I’d be more concerned with devaluation from living next to people who feel the need to ask this kind of question; it’d make living near dingoes look less painful an option!!! [whistle]
Hi Byronent,
Try these links:
http://www.abs.gov.au/Ausstats/[email protected]/0/2619aaebcadda426ca2569ad000402ca?OpenDocument
http://www.dundas.wa.gov.au/our_community/bulletin_board.html
You will note that Norseman is listed as one of the areas in decline.http://www.affa.gov.au/content/publications.cfm?ObjectID=4C089205-5721-416F-AB6577C5AD169311
Note the section for WA which details Norseman as having experienced a population increase between 1991-96.The two latter sites are the most up-to-date.
There is plenty of information about this mining town, it’s just a matter of doing some extensive RESEARCH.
Cheers,
Jo
Not to mention the ones at your own front door!!![blush2]
If you think of it as a re-make of a well known classic 60’s hit but replacing the lyrics “party” with “website” and “cry” with “advertise” you can almost hear Steve as he sings…..
[strum] “It’s my website and I’ll advertise if I want to” !!! [whistle]
Personally I don’t care one way or the other.[blink] However, if I could make just ONE itsy bitsy suggestion….purple would be a much prettier colour option!!![biggrin]Thanks Steve,[grin]
Jo
Here is a list (provided by Channel 7) of a few aid agencies in Australia:
http://www.seven.com.au/news/tsunami_howtohelp
Please call and donate, they are free to call 1800 numbers (if that will persuade you).http://www.msf.org.au/ (My thanks to Sim at SS for this one)[biggrin]
For those (like me) wanting to donate to an organisation that is neither religiously or politically based.With New Year’s Day just around the corner, I urge you all to please give generously to those killed by the tsunami, who unlike you and I, will not be blessed with the opportunity of seeing in a brand new year.
Jo
