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Sydney & Adelaide are both big places to research if you are not familiar with either. I'd suggest looking at a few of the council websites, dept of lands, dept of planning, as well as where the project home builders currently have display villages. These will give you an idea of the areas to research. Also look for newpaper articles highlighting areas which have undergone severe price corrections eg western sydney, areas where clearance rates at auction are generally low or full of withdrawn properties.
Linar wrote:Does it literally mean to never ever sell and leave the property to the kids one day?Possibly but more likely a long-term hold position
Linar wrote:Or does it mean to hold on to until it is old enough that maintenance eats up all the cashflow?You fail the investment strategy here ie you need to add value at some point in time that is you will need to reinvest which in this case may mean redevelopment to earn a fair rate of return. You would not allow your cash returns to drop unless you were in a position to accept reduced rents for a sustained period.
Linar wrote:Or does it simply mean to hold onto it until a deal better deal comes along that, even taking into account selling costs, stamp duty, CGT etc, will make you more moneyThis is a short-term strategy, you sell/refinance when an appropriate opportunity presents itself.
crashy wrote:trying to, yes.thats what happens when the tenants complains for 5 months about 50+ faults & issues 2 x form 11 which go ignored
If the issues are legit, take it to the tribunal – you can probably seek advice on getting the PM reprimanded by dept of fair trading/vcat etc too (ie affecting their licence).
The vendor should have used his cooling off period when signing-on with the agent and recinded the contract since you and he had already negotiated the deal.
If you move into the new property then the interest on the loan is not deductible. If the new house is not your PPOR then it will be subject to CGT as you cannot have 2 ppor simultaneously. Consider the possibility that the new house is your ppor and pay cgt on your current house for the portion of the time that it was an IP (since moving into the new house) this may require you to get a val at the time you move out and commence using it as an IP.
Same regs as building any other multi-occupancy dwellings ie apartments. Most people progress down the line to strata as it is much easier to liquidate a few if ever needed.
If you build poor quality flats, you will get a return reflecting that investment.
Your conveyancer should be able to answer all of your questions ie vendor's conveyancer should prepare the sale contract, especially if the vendor has a S32. Ask for the deposit to be put into an interest bearing deposit (needs to be a trust fund).
Gloss is in the makeup of the paint you select the level ie low sheen, flat, semigloss or gloss. Low sheen hides defects, gloss highlights them. Flat paint is generally very difficult to remove marks from if damaged (used for ceilings).
Antimould can be added just prior to mixing (on the job) – comes in a little jar.
Stratum title can co-exist with strata title. Stratum allows you to undertake further work to a property eg staged development or mixed retail/commercial/resi development with 2 separate holdings.
The benefit is you can develop stage 1 (say basement carparks and shopping centre and have this as a stratum, the second stage being commercial can have its own stratum then be subdivided via strata title if you want to sell off offices and the third can have its own strata (the building so designed that each has its own entries, lifts and services. The running costs of each stratum are separate ie the commercial tenants pay for the running costs of their common plant and the retail pays for its outgoings. Each stratum, if further subdivided will have its own body corporate.
Further information is available on dept of lands website or via several surveyor's websites (google stratum).
Income protection insurance will only cover income lost from not being able to work ie salary, commissions or drawings it will not cover any incapacity to manage the property.
Consider boosting your life insurance through your superfund (more tax effective apparently)/make addit salary sacrifice to cover it or if you are in a low tax bracket an after tax contribution to get the govt co-contribution.
Advise your solicitor that the morning of settlement is insufficient time to settle – reschedule settlement for next week & have the inspection the day before.
What colour is it?
Will it include little gems like 'if it is connected to the board's mains, call a plumber'? You will need to steer clear of any instruction on installations which could be seen as unauthorised plumbing works
Firstly, why are you using the same conveyancer as the vendor – this person is not acting in your best interests as they are not able to offer independent advice to you as they know what advice they are giving to the vendor. Change conveyancer as they may have a conflict of interest (what are they doing to ensure that they do not have a conflict of interest?).
Delay of settlement is not a fundamental breach of the sale contract, your conveyancer must serve a notice to complete once the vendor fails to settle on the appointed day. Push your conveyancer to get the bank to arrange settlement asap.
If you intend to occupy the premises prior to settlement, then there should be a formal (lease) lease agreement in place to cover your occupation.
On a flat site, slab on ground is easier and generally faster to build. Slab on ground is rarely ever cheaper.
In the case of having to decide between cut and fill, retaining walls and deep beam footings for a slab on fill compared with pier and beam/bearers and joists – it should be much cheaper in constructing a timber floor in much the traditional way. As you have over a metre of fall, there should be no problems in achieving underfloor access or providing subfloor ventilation. Nor will you have to lay a second floor to get your timber flooring.
SNM
What in the world would possess you to use an enamel paint inside a building? Use acrylics. In a wet area like a bathroom, use semi-gloss (gloss if you must) with an anti-mould additive.
Oil-based Enamels are very old school and should only be used externally where you require hard wear properties (subject to full sun/weather etc), even the newer acrylic enamels should generally be used externally (or for features like architraves/skirtings/handrails/furniture which have high wear or subject to abuse).
SNM
Vijay, most of the costs you have listed above are the costs of operating the business occupying the premises not of owning the premises – building insurance, land tax, rates, sewer charges, building management, plant maintenance are property costs, heating/lighing/materials/supervision/stock/materials etc are costs of the occupant making goods/services to pay for rent & other inputs.
SNM
Watch out for the 'bra boys.
Are you looking at the specifics of project planning or the wider field of project management? The planner's role is specifically to schedule the project ie to organise the order in which the tasks are to be complete includes study of various planning methodologies CPM, PERT, process diagrams etc and how these then relate to a project. Specialist planners work on major projects not for backyard builders (every building course covers planning as it is an essential part of building ie being organised).
Project management courses are wider ranging (often have many specialties eg technology, business, construction etc) and are often a branch of a construction degree. Just to get an idea of what is on offer look at UNSW, UTS, Uni of Newcastle, UWS who all offer B Const Mgt, BBuild B Proj Mgt degrees.
You would generally be better off negotiating a lower price based on no rental guarantee (equivalent value to PV of 2 years rent) but you will need to do your due diligence to confirm rentals and demand.
