Hi CharleeNorth Adelaide is safe but expensive.  Places close to the city but not so expensive would include the first suburbs on the south and west side rather than the suburbs on the east and north side.  Public transport is quite good for the inner suburbs (not nearly so good further out) that most suburbs within about 5 kms of the CBD or c…[Read more]

Hi Devo76

There is no simple answer to your question, but here are some things to consider.

Not all IPs are negatively geared. And of those that start negatively geared, some become +ve more quickly than others. The main factors here are rent and how fast it is increasing, LVR (loan to valuation ratio) which can have a bigger influence than…[Read more]

Hi OriginalSinner

I would be wary of these units for the following reasons.

The state of the common areas would indicate that little has been spent on their upkeep for some time. Ask for a copy of the Strata accounts and minutes of the AGMs. You are entitled to the most recent but try to get more than that. Unless there is a substantial…[Read more]

Hi Terry

I think some banks still do valuations in house or with a tied valuer. Hence they can influence the definition of market value and hence can request they be conservative.

Not all banks and not all the time. But often enough to be a nuisance to borrowers.

Mum

Hi Breakeven.

A valuation is actually not a single number but a range based on recent sales of comparable homes and what the valuer believes the market has done since those sales. Actual sales figures are used, not what properties are listed at.

When the market is rising, values tend to come in at the top of the range. When the market is flat,…[Read more]

Hi Daniel

I would concur with Marc that the next step is to vist your bank or your broker and get an idea of what you would qualify for. This will not tie you into this bank or broker and you can talk to others later. However, all you need to know at this stage is the amount you could borrow so you can then work out what you can afford to buy.…[Read more]

Does the boom in Tailem Bend have anything to do with the boom in Mt Barker?

Mum

Hi Meatgroup

You probably need to ask your accountant about building depreciation as I think there may be circumstances where ATO will deem you to have included it in your previous years’ deductions when they calculate your CGT even if you didn’t charge it at the time.

Mum

Hi Daren

There are basically 2 limits to how much you can borrow – your serviceability and how much deposit you have.

Please note the following is not advice, just some play with numbers. You will need to have your broker verify the numbers as they depend very heavily on which state you are from (I have used NSW for these numbers) as to how…[Read more]

Sorry Folks

I should have also added that demolition depends on what is being demolished and whether asbestos is involved. Can be up to $10K on top of the rest. My builder includes it in his price rather than my having to arrange for it myself so when I budget $25K for subdivision, that doesn’t include demolition.

Mum

Hi Redfox

Celeste’s figures are about right for Adelaide also. I generally budget $25K for Torrens titling. Can come in a little less but can also come in more if the water and sewer connections are more than normal.

Mum

Hi NordicSkier

We have used an airless spray gun. Not sure how much it costs as we have had ours for many years. And, my handyman (who does most of my painting these days) also uses one.

It is the only thing to use for those highly textured ceilings so popular for units in the 50s and 60s in Adelaide.

Main things to watch is the edges and…[Read more]

Hi Vluu75

You will also find there are a number of limitations imposed on the very high products. Most will only lend against properties in metropolitan regions excluding CBDs, high rise, most country towns, and certain types of properties.

The employment requirements are also higher as is also serviceability requirements.

And, many lenders…[Read more]

Hi MKC

It should be possible to get an answer in a couple of days though often it can take longer.

Did you let your broker know you had such a tight time frame? If he did know, then he should have passed on your urgency and 5 days is getting excessive. If he didn’t know, then he will have put it through the normal queue and that can take some…[Read more]

Hi Brendan

The year finishes when you sign the contract of sale, and not on the settlement date. Check with your accountant to be really sure of the rules.

Mum

Hi Row

You would be better talking to your tax accountant and getting proper advice.

I suspect that you would need to withdraw the funds clearly some time before moving out to make sure ATO does not consider you are redrawing funds for personal purposes from a loan used for investment purposes. There is some case law on this and, as I said, you…[Read more]

Hi Adryana

It will depend on the state you are in.

Generally, when purchasing you will need to pay Transfer Stamp Duty, and a Title Registration Fee. If you borrow money, you will pay to register the mortgage and you may also pay Mortgage Stamp Duty. For the amount of these, see the website of your state governments Lands Title Office and/or…[Read more]

Hi Sharif

1. Sounds like you are looking at duplex in Adelaide? Pros are they are generally cheaper for the same size of house and land. Cons are that people seem to prefer stand alone houses in most suburbs unless the attachment is only through the garage. Also, you more or less have to agree with neighbour on external appearance as one half…[Read more]

Hi Snowflake

It would depend on the reno. A quick in and out might net only $10-20K (after purchase and selling costs) and still be worth doing. But a complete makeover would need to promise a lot more than that as the risk of finding extra stuff that needs doing goes up exponentially.

Mum

Hi Lumwood

You might want to post this question in the Value Added forum which is often visited by others doing developments.

Mum