Forum Replies Created
Hi Karl and Rita
My girlfriend and I have our Clovelly mortgage ($520K) with ING and really we would never go through them again. I don’t think they are particularly suited to mortgages, particularly with multiple investments. Their inflexibility with their loans does not allow us to diversify.
On the day of settlement they had made so many mistakes it was a nightmare. This year we will go with the Commonwealth Wealth Package.
Wait a couple of years and then get out of it, minimising your penalty fees. They attract you with the low percentage rate but does not suit property investors.
Good luckSimon and Suzie
Hi Gatsby
My girlfriend and I have just purchased a 394sqm block of land in the Dunsborough Lakes estate on which we will be building a 4 bedroom house in the next couple of months. We believe this area is going to go ahead, though not as fast as other states such as NSW or Victoria. That’s ok, as we love going down there on holidays. We are very happy with our purchase.Simon De Marchi
Hi
No ocean views. It is part of the Dunsborough Lakes Estate, and it’s built around a golf course. Our lot is overlooking no.8 hole (whatever that means) and therefore no other dwelling can be built in front. We have views right out to the mountains. I agree…it is only 390sq mts and a small block, but I guess hence the price.
Having read all the ideas, I think we will keep it and build on it eventually.
Thanks for all the input.
P.S they are still selling blocks there.
SimonHi all
The land was bought back in Feb. 2004 and they are continuing the subdivision at the moment. I feel Dunsborough will continually gain in value, though for rental it will still yield about 4.5% to 5%. It may turn out to be very good for capital growth as that area of the Margaret River is becoming increasingly popular.
Our long term goal is to have a property that will have good capital growth and still yield a decent rental return. It seems there is a shortage of good 4 bedroom houses to rent in the Dunsborough area. The demographics show that about 50% of the population are renters. A 4 bedroom house in the same estate as ours is currently on the net for rent at $260pw.
Thanks for all your feedback.
Simon
