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The cost for the removal of an AC roof is not that dramatic – call up a couple of roofing contractors either for a quote or an estimate that way you wil know how much you will be your exposure should you decide to replace the roof. It is a simple process, they spray the roof with a pva sealer then take the sheets down & dispose at an assigned tip. Vacuum the roof cavity and jack's your uncle.
It works on a scale of fees – you will need to check your council's website or speak with the planner on the desk.
Not too bad considering Blacktown is a hell of a lot closer to the city than Campbelltown. It is on a train line as well as busway.
Rent free is a common incentive however it would depend upon demand and vacancy rates at the time – last few industrial units that I have dealt with have been done without any incentives.
Study1, you may be looking long and hard to find a decent 2 bed unit sub $450k in those LNS areas nominated, possibly around that price in Lane Cove North but usually 2bed/1 bath.
Areas that you could consider for a house would be Toongabbie/Seven Hills/Blacktown all on a train line. Middle distance western suburbs which have taken a large hit with median prices dropping substantially over the past few years. Some good opportunities to add value/rebuild.
On the upper north shore, you may find a house in the low $500k around Thornleigh or possibly further north at berowra (just before the hawkesbury river)
Lodge your DA with council, if they object the council officer will inspect the site or knock the objections on the head. On what planning grounds are they objecting? The mere fact that they can see it does not constitute a valid objection – views are not protected under the law (unless of course they are significant and a dimunition will affect your property price severely).
Magnus, which course are you studying & at what uni?
I'd still stick with my previous advice – go for the larger block without affectations, this will be easier to sell at a later date esp if the additional land is only going to cost $15k
Generally, you can get the proposal through DA without subdividing but when it comes to selling the blocks individually they will require their own services and driveway access (probably concreted unless there is direct street access to the newly created block). It is not a case of money for nothing you will need to carry out the improvements to subdivide. You won't need to have plans for a new house if that is what you want to know as well.
Consider purchasing in a different area of Sydney – 35 km (liverpool or beyond). Change your mindset – you can buy an older fibro house around Blacktown/Seven Hills/Toongabbie/Bankstown/Yagoona/Sefton and possibly Baulkham Hills/Castle Hill/West Pennant Hills around $500k on a large block. Sure you may have to do some work to the house but by the time you pay out some debt you will be able to rebuild and get that house of your dreams. All of the suburbs listed (except Baulkham Hills/Castle Hill/West Pennant Hills) are on a train line – planned train line to Castle Hill (north west metro) or existing busway connections also exist.
If you take into consideration that your wife will be out of the workforce for a while, it may be worthwhile to sell the unit and to buy the cheaper house (with a smaller mortgage) so that your wife may not need to go back to work immediately (and pay child care fees).
GW, from your post you don't have the patience to be in the market (any market) long term {gen Y? – want it all today!}. There is no magical cure, if you have debt either you pay it off or you don't (capital growth may go some way towards easing the pain however it will be making the additional repayments on P&I loans/or saving the additional sum in an offset a/c which will reduce the amount of interest payable and increase your equity faster).
As for not having to work, dream on. Unless you have a very low income or quite a few properties you will have to keep working for quite a while.
generally, agent websites eg colliers, JLL and some of the specialists in the selected area (eg industrial, commercial or retail). Other sites: commercialrealestate.com.au
Coverall: googleStrata levies are comprised of two elements – administrative fund and the sinking fund.
The sinking fund covers such items of the common property that require maintenance eg lawn mowing/garden maintenance, painting, replacement of broken/dilapidated/unsafe common area items (eg lighting, paths, external doors, balustrading etc). There may be some special levies occasionally to cover one off costs – eg council fire order, perimeter fence replacement etc.
Admin fund covers such costs as building insurance and costs to administer the strata scheme.There is an annual budget prepared for both (presented at the AGM). A copy of the minutes and the budget should be available for you/your solicitor/accountant to review – refer to the exec of the body corporate or the strata manager (who prepares the budgets).
A door which does not lock is a security risk – he tenant may not be able to get insurance (as required under the lease). This is a lessor obligation to provide secure premises. Likewise the toilet – you own it, you have to fix it unless it has been broken maliciously by the tenants.
There are many similarities between commercial and residential leases however they are far less onerous (in some regards.
Stop being so tight!! Claim the costs as r&m and keep the tenant happy. Remember it takes longer to lease a commercial premises if they leave and the letting costs are much higher.
Savings? Direction in life? What do you want to do? Is it a buy & hold/doer uper/IP? Are you looking at commercial in the extremely tight Perth market (very little new office space coming on the market for another year or two still).?
From a renter's perspective – it makes no difference whether it is 500 m2 or 750 m2. Likewise they have no development rights so the easement makes not a scrap of difference to them (they are not interested parties on the title & wouldn't know an easement if they fell over one).
Generally rental properties achieve a rent based on the number of bedrooms/facilities/parking spaces available – having an extra 40 m2 to mow is not an attraction for the tenant unless he plans to keep large pets/kids.
As for the investor, selling a block with an easement (depending upon the conditions of the easement) will make the property more difficult to sell – what sort of easement is it? How much of the land does it affect? Does it affect where you can build? All of these factors will influence how much you should pay for the land. The larger, unencumbered block, will allow you to put a pool/garage etc in without shrinking the yard too dramatically (more so of interest to a future buyer than yourself). It will also allow you to build a larger house eg if the FSR is 40% then the additional land will allow an extra 16 m2 of living space (ie bedroom or study).Check that the building is actually Heritage Listed by the State not just an item of interest etc on the Council's Heritage Register – a big difference. A state listing (state/national significance) will give relief from land tax & some other charges.
I would find it difficult to believe that a 1940's building in Burwood (a suburb with many victorian & federation buildings of more note).If there is a lease in place, 21 days prior to the expiry of the lease (me thinks) – ref: http://www.fairtrading.nsw.gov.au
That is, you cannot break the lease prior to expiry unless there is a default & judgement against the tenant.
One thing KY, if you hold for five years, you have paid the gst when you built. As the properties are residential you can't pass that cost onto the purchaser it is included in your price. You don't get it back.
Kenton, you may have to bite the bullet if you want someone to accept the new rent (after the lease expires). You may have to weigh up the cost of keeping a paying tenant (with a smaller increase) against losing them, having to carry out works and waiting for a tenant to occupy.
