darwin NT developing is challenging as always buddied up with an architectural firm doing some CGI. can design buildings, but no formal architectural training (really, it isnt that hard)yes had experience with valuers, they charge a lot for little imo, and in turbulent times, theyll be charging a lot of people a lot for little
I didn't want to comment because I thought that somebody else might answer your questions more specifically, and also, I dont know about changes in demand for the jobs you just mentioned.
From my own perspective (property developer with real estate agents in the family and about 50% of the people I associate with being either builders, contractors, investors, developers, or real estate agents) I have noticed a huge exodus from the real estate industry as the boom ended and all of a sudden, all of these wannabe real estate agents who sold a few houses that were going to sell anyway realised that they didnt have the ability to compete with real estate agents who were actually good at it.
I have been waiting for this to happen for quite a long time, actually. I got sick and tired of being talked to by a bunch of kids who had more business working at mcdonalds than they did selling people's property as if they somehow knew something more than I did because they had done a 6 week RE course for $3000.
Sorry I couldn't help more, but what I think, I said. I will say, though, that if I were to choose any of the above, I would choose being a valuer. When people are uncertain (and we are in uncertain times), and stressed, they tend to do their homework and use valuers. In my experience, of course.
If you use a shovel or something and try to pry them off, and your glue is very strong (or wood weak. or both) you're risking tearing bits of the wood off along the grain. ive never done it myself, but i would keep that in mind and do a test patch before going in commando style.
My first thought was jackhammer with one of those (newish) chisels on them designed not to dig into concrete – theyre kinked at the head, so that the part of the chisel touching the concrete/wood/whatever is flat, and doesnt bite into the material, while the sharp bit of the chisel pries under the tile. Think of a crowbar/prybar, but as a jackhammer bit
I have a Certificate 4 in Building Construction. I come from a building family, having been dragged onto construction sites from age 6 or so. I made the jump to property development, and expanded into peripheral industries like architectural computer generated imagery, drafting, design, and helping other people with their personal rezonings (which I think I am going to start charging for).
If you guys need a hand or want to buy a severely overcapitalised property in the NT, Im your man
It all depends on: what the floor is made of , what the walls are made of, where the pipes are, what the pipes are made of, how far away youre putting in your new waste (because plumbing pipes need to have a certain fall, so that water moves in the right direction, is the slab suspended or ground floor if youre going to have to break tiles/retile
bathrooms and kitchens are the most expensive rooms in a property to renovate. sometimes the prices can blow out hugely.
the best thing to do is to get a copy of detailed plans (especially the plumbers drawings etc) and have a chat to a builder, because any indication of price I could give you would be meaningless. How long is a piece of string sort of thing.
The cheapest way to do it might involve not smashing into the concrete much at all – you can just raise the level of the new shower floor a few inches and get your fall that way – so be aware of options like that.
$21 000 for everything done end to end including design, drafting, fees etc is not a lot of money in the overall scheme of things for a development of that size/complexity. Bad advice will often cost far more.
By way of comparison someone I know recently paid (to someone else – not me) $16 000 just for the design and draft of house plans; another paid $60 000 for the design of a 12 apartment complex; another paid $240 000 for the design of a 14 unit development (the reason for this staggering figure is because the architect fit another 2 apartments onto the site, and the builder thought it was worth it. I personally think theyre on drugs. 240 grand i slappa your face). Im already out $5 000 in application fees alone for a 12x2BR 4 story complex, having done all design/draft myself.
The advice in this thread is spot on. Something that I would also do is find out some details about the developers business, so that you can negotiate more effectively. A strict developer who employs a builder will be all about margin. A developer who is also the builder is about margin, plus keeping himself/his crew employed, and because hes doing more work/will make more money, he might pay more per land parcel than would a strict developer.
To be honest, I would develop it myself. It isnt as hard as you might think, and because the property is generating an income, you arent bleeding money in interest during your planning/presale stage as you would on a naked block.
I have a vested interest in property prices remaining high, but I must admit that I am of the opinion that in the long term, properties are overvalued significantly, particularly the land component cost. There is a huge surplus of land in Australia that is not available to the public, and simultaneously, various zoning laws/strategic planning force developers to reduce density and underutilise what land they have.
Building a property is obviously always going to require materials and labour, but I am personally sickened at seeing naked blocks of land in new outskirt subdivisions released by government of a mere 800m, with dinky little streets, sell on the open market in excess of $200 000, in the name of "affordable housing" no less.
I also think that there is far too much speculation built into the market, with many people over leveraging recklessly.
I dont think that we will see a crash, but a softening out and perhaps mild correction in some areas in the market, certainly.
I am a builder yes everything is negotiable, as the person above said. Large building companies with display villages have a lot of employees to keep happy, so it also pays to keep an eye on how busy they are – the busier they are, the less they care about you (because theres always someone else that will buy) but if you can find them in a position where they are less busy than usual you can sometimes get some very good deals because they want to keep their boys working.
You sound inexperienced, and so if I may, I would suggest getting in touch with a lawyer or other person very familiar with building contracts to look them over. Remember, building contracts are not standard – almost every one is different because its written by a different person – and you will have clauses that favour the builder more, or less. With large companies, they have done their homework, paid their lawyers, and will have a contract that favours them. personally, if i take on a contract, i prefer to use my own contract, because it favours me (well to be honest, i prefer working for cash and getting my money up front, but thats another story)
Also keep an eye out for variation fees – large companies charge you up to $500 everytime you have a variation of the contract – so lets say you wanted to change the position of a window – $500. A couple more power points? $500. Different color benchtop? $500. just to put in the form. Then they slug you with the cost of work on top. So, if youre going to alter anything in the contract like that, do it before you sign, and the builder doesnt have you over a barrel – because once you sign and put down your deposit, you arent going anywhere, and they can start chipping away at you.
Places like the HIA (housing industry association) have lawyers who specialise in property. Give them a call (theyre australia wide) and get a referral. Usually they support the builder (because they train builders) but theres no reason that making the public savvy isnt a good thing – itll just make dodgy builders pull their socks up
bear in mind that nothing is standard. building defects periods (the time in which the builder must come back and fix defective work or materials) does not legally even have to be in the contract. nor do penalty times, witholding periods etc – so the couple hundred dollars you spend on a lawyer may save you far more. Im presently picking a huge fight with another builder on behalf of a lady because he managed to convince her of such absurdities as her keeping the power on in her name for a new house construction, getting her to pay for some of his heavy machinery etc – terrible stuff. So beware.
Ah, my apologies, youre right. I was reading fast and made an incorrect assumption. You could have just let me know that someone else wrote it instead of yelling, cuteyoungchick. Thanks nguli
(hmpf. so much for property investors being a level headed crew. bunch of psychos. rawr!)
Most of the worlds media is owned by the same people who own general electric – the company that designed the faulty reactor. the design was so bad that several of their employees quit in protest 40 years ago. 3 days ago things were bad. Yesterday the temperature of the reactor cores started to go up significantly, indicating full scale meltdown. As I said, one reactor down, 5 to go. Plus the spent fuel pools.
Personally I soundnt stuff around – you dont get second chances from plutonium. Whats the point in being a super rich property investor if you get a lump in your neck in 2 years and die the year after that.
I hope it is as you say, but I have a bachelors degree in pharmacy and have seen first hand, on the front lines how industry and government really work when it comes to human health. So long s the big boys cant be sued, everything is okay.
What do your friends want? What can they afford? Where would they like to be? Why are they here? Do they have the means to put the cash up, or is this hypothetical? You have money, we do stuff. You have no money, we do no stuff. Easy.
I live in Osaka, Japan, and it is things as normal here. In Eastern Japan there are problems, but only in a small area.
There is some radiation being found in the areas immediately surrounding the nuclear power plants and some food stuff has been contaminated such as green leafy vegetables from farms in the area.
I can't see mass evacuations happening any time soon. Even if it does happen Japan is a big place and people will probably just go to other parts of Japan.
I have bad news for you. I consider myself to be an intelligent person. usually too intelligent for my own good, but regardless, I would strongly advise you to take a few minutes to read and watch the following.
So, factor in that you have 12 times more nuclear fuel than Chernobyl. So far, youve only received radiation from one reactor. 5 to go. From that one reactor, youre at double Chernobyl already. That reactor is currently melting through the ground and will hit groundwater soon, whereby radiation will spread through the water table and irradiate japanese farms for miles, for the next few centuries. One of the reactor cores (not pools) is operating presently at 500 degrees celcius. usual operating temp at full reaction is 400 degrees. The other one is presently at 1000 degrees celcius.
Radioactive iodine has been found in Tokyo drinking water in levels unsafe for adults (let alone children/infants). Cesium has been found sprinkled all over the country. Radiation has been detected as far as the US west coast in a dozen counties. Radioactive particles have settled in the Pacific, and will therefore irradiate fish stocks, either killing the fish, or those who eat them, yet certainly the Japanese fishing industry.
I am truly sorry, but your country is in dire straits. You are not being told this on the news because the government does not want to panic the people (as well as a few other reasons, mainly legal) but you are in serious trouble. We saw this at Chernobyl – a gross underestimation of severity that left the public at massive risk (many thousands died). We saw this at 3 mile Island in 79. Same thing.
Time will tell, but logic will prevail. If we arent making money in property at the moment, we will certainly do so in chemotherapy companies, and the funeral business.
Think for yourself, Look after your family, and good luck. You shall most certainly need it.
I would contact all other purchasers and launch a class action lawsuit.
You and the original developer entered into a legal contract, whereby you put down $x in assurance that you would receive an apartment on the y.y.2012.
I would have a lawyer (team of lawyers, actually) take a very hard look at every single clause in the contract, and establish what "the Vendor reserves the right to assign interest in this contract to a third party for whatever reason" actually means under the law.
You see, to my thinking (and im sneaky), the vendor may assign interest in this contract to a third party for whatever reason" BUT that says nothing about the conditions of that assignation. Ie you should be able to reasonably argue that the vendor may be able to reassign interest to another party, but must also maintain your interest as a purchaser, or compensate you accordingly for breach of contract (unreasonable actions = breach)
The facts are plain: you entered into a contract with the reasonable expectation that you would receive the property purchased you paid a deposit your vendor onsold for a vastly increased price you and everyone else have suffered opportunity cost unreasonably
Lawyers are going to love this. The purchaser, and new owner both, are going to hate it. Burn them. Lodge a FOI request if you have to and find out who the other buyers are, but find out who bought into the old development one way or another, combine forces so as to prevent both developers using the legal system as a weapon in and of itself, and go toe to toe. 4 mill to 20 mill is nothing to sneeze at – theres a lot of money in the pot, and a lot for both developers to lose (the first guy just made $16M. the second guy, if buying for $20M, is launching a project worth tens of M.) Even just miring them in court is going to cost them a lot of money, and they know it.
In addition, there are occasionally various initiatives brought out by government that allow further tax concessions eg about a year ago, if you purchased any capital equipment new with value in excess of $1000 you could write it off immediately. Simultaneous, at the moment there is a capital gains incentive for small business with a 50% reduction in CGT, although I am unsure of the details. One of my notoriously sneaky buddies was telling me about it a couple of days ago. Chat to a decent accountant or call the ATO
What kind of information would be the most reassuring for a buyer. Newspaper articles? Real estate institute reports? Real estate agent reports? Bureau of Statistics demographic data?
To be honest it seems a bit crystal ballish to me, but im a meticulous sort of person and can acquire whatever is needful in short notice.