Forum Replies Created
There were other issues in the economy at the time of high interest rates and that included the introduction of capital gains tax and the removal of negative gearing tax benefits. So it is probably not relevant or pertinent to look at this issue in isolation you will need to get an understanding of the economy and its drivers as a whole.
If you are looking for historical median prices you will be out of luck. The analysts only shifted away from average prices a couple of years ago.
Just ensure that the display home company will undertake a suitable refurb before vacating- a show home is high wear and tear especially on cupboards, door furniture, light switches etc.
Check the comparables in the area and the rentals as part of the dd
harb wrote:…Land developers in the new estates are in a similar situation, they have to provide a certain % for parks and recreation area, better roads, broadband cable, Noise barriers and retaining walls in some cases,etc.It is not that developers in a previous life did not have to provide the infrastructure but the service providers (state and local governments) would 'invest' in the areas expecting their return over 20-30 years as opposed to the current situation of having developer contributions to fund these works.
Likewise in NSW Jake, a unanimous decision to sell must be made (there was some recent talk of reducing this to 75% of the owners).
If there is a lower threshold, then engage a valuer on your behalf, brief them on the purpose (it may be a dual purpose eg market value and sale for redevelopment/highest and best use {of the block} or the like).
Gifting a property is just that – no value. Your downside is when you come to sell – you paid nothing so are up for 100% CGT if you have not used it as a PPOR. Your wife's downside is that for disposal purposes, it will be valued by the ATO as having transferred/sold at market value – so she will be up for CGT as well. Weigh up these costs before gifting the property, consider other alternatives eg moving it into a trust and you wife recieving the income etc.
In all markets (rising or falling) it comes down to what is agreed (willing buyer/seller, not over anxious etc). The property has been put on the market at a particular asking price by the vendor/agent. The condition of the property as inspected is a known factor, the unknowns which the building inspection may have revealed such as termites, settlement cracks, subsidence, infestations, poor workmanship etc would be what would be revealed by an 'expert building inspection'.
In all honesty, if the premises has been fairly priced (whether for a quick sale or otherwise), the agent has been forthright in their assessment of the value of the property, market conditions etc then there should be little reason for the vendor to reconsider their price.
By the sound of it most of these costs will go against any capital gain that you may make ie not a deduction but capital costs.
Not sure if it works on a Mac but I have recently implemented Rentmaster – you get a 60 day trial (plenty of time to try it out). It has a few limitations depending upon your portfolio (ie retail or some commercial) however you are able to work around most issues.
Blacktown/ 7 Hills etc are all on the trainline – maybe they won't have the employment prospects of Parramatta but they are short commuting distance to Parra compared to the CBD. These areas have taken a big hit with the current correction so should have a greater rebound or at least allow you to get more bang for your buck.
Block sizes are pretty good and council has allowed numerous granny flats giving you potential access to additional income.
Zig, you have a lease over the land (probably only monthly or weekly) so you do not have any tenure over the land. What you bought was the improvements – the park manager can give you notice at any time and get you to remove your 'improvements'. That's life in a park.
It also pays to give the old PM the appropriate notice and a letter covering this off – discuss it with the new pm
There were even a couple in this week's Realtor magazine – Western Sydney suburbs with rail line, 3 bed house + granny flat. You just have to interpret what is on offer, maybe do a little bit of work eg add a bedroom/knock down an internal wall but it is achieveable.
How much can you knock off? – not much if they are selling quickly.
Parra council has just lauched its new website: http://www.newworkcity.com.au
Decent commercial property is quite tight.
Fuel costs are increasing (hence need to be near a good rail line)Sounds like a refinance job – they will need new financials, some idea as to what you are using the money for, how you are going to fund repayments etc.
If you are buying another property, why not take the loan out against that one and use your LOC or redraw to pay the the deposit?
What has the lender's insurer got to do with the risk of your tenant's being exposed to AC fibres? They are lending you money on the viability of the cashflow not the likelihood of a claim for mesopheloma in 20 years time.
As yarpos points out, you do not own the property until it settles, you have no legal rights over the property (not even a registered caveat). You will be permitted access for the inspection prior to settlement and if they were feeling generous to allow you to 'get quotes to do work' as soon as it settles – all in the company of the agent.
I recently knocked back an early access application myself – what risks are you expecting the vendor to bear (as you don't own the property or have a lease over it, I suspect that you wouldn't have taken out insurance or granted an indemnity to the vendor against any and all claims which may arise in the event that an invitee might injure themselves whilst on the premises).
Unless you have done quite a bit of it before, you might as well paint it white 'cos it will look like stucco. As there are large areas to be covered as soon as angled light hits the wall you will see every blemish or unevenness in the finish if you have done it and don't have the skills to carry it off. Sorry to be so negative but this is the presentation of your house and it will be a costly mistake if you stuff it up.
Check whether the broker will give you the desired amount as a standard loan – why pay the penalty for commercial rates if you don't need to? As an alternative, go for some short-term finance – discuss with the bank the use of 180 day bank bills.
Refer to the LEP for the zoning to check what the requirements are for battleaxe handle. If you are still unsure, speak to the town planner to determine the requirements.
