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Hi Babyflynn,
The first of three properties i looked at before deciding on the one i have just purchased had termites.
The property had everything going for it,close to town, a big flat block and nice reno potential without spending too much. I really had my mind set on this property. I arranged a pest and building inspection as a matter of course and low behold the property had termites. The inspector said he couldnt see live termites but there was termite damage in the subfloor and in the detached garage. I was still pretty keen to go through with the property but would renegotiate the purchase price to take in the repairs.
The pest inspector suggested i get a thermal check done to see if there were live termites in the property. I agreed, as I wanted to know if the termites had moved on and the damage was just limited to those two areas. A thermal check was carried out and live termites were detected in the wall of one of the bedrooms.The inspector also said you could hear them making a popping sound. The pest guy spoke to the tenant and was told that there have been termites there for ages. The Tenant said he has already lost two timber cupboards that were sitting in the garage due to termite damage. The tenant is a friend of the vendor and i cant imagine him not letting the vendor know about the termites.
The vendor seemed surprised that there were termites in the property and suggested that she would get it fixed for a couple of hundred dollars. I was still keen to go through with the sale but i needed to get a quote from a carpenter to see how much it would cost to repair the damage.
The quote to replace almost all of the detached garage, subfloor sections under the kitchen, and replace/repair damage to one of the bedroom walls was almost 20k. I was still wanting to go through with the sale and even suggested I pay 5k of the carpenters bill if she would reduce the purchase price down 15k. The vendor refused to budge, even putting her price up if she was to carry out any repairs. I decided eventually that it wasnt worth it and withdrew from the sale. The vendor immediately pulled it from the market and two weeks later it was relisted again but this time at a higher price.
Shane
James,
Thanks heaps for the info. It gives me hope. With my settlement due 5 weeks ago I am still not into my property. I am really keen to get started and up until this morning was about to walk away from the sale once the "Notice to Complete" had expired. I was contacted by the Real Estate this morning and I finally have a settlement date and time.
I have allowed myself 12 months to get my reno's done and boy does this place need some TLC. This property will be my PPOR for the next couple of years and then I will relocate to Queensland and have it as an Investment Property.
The floors in my property are tiles in the Dining/Kitchen/Loungeroom/Bathroom but carpet through the rest of the house. The carpets will have to go as the place has had heavy smokers for many many years. There are also numerous holes in the walls so there will be a lot of work. I will try and do most of the prep work myself but I am by no means a tradie.
It may be worth considering your laminated flooring option. I will look into it once I have the carpets up to see what is underneath.
Shane
Will do Paul B.
I have taken a number of photographs of the property in its current condition.It looks like it will be a bigger job than i first thought.
As this will be my PPOR for next couple of years I will certainly learn by this one. I will be a lot wiser when I am eventually ready to purchase an IP.
Shane
Yesterday afternoon I finally picked up the keys to the house. I can enter under licence whilst the Vendors side sort out their issues.
I think it will take another couple of weeks before the official settlement but at least I can do some basics like airing out the property, sugar soaping the walls and general cleaning.
I have been advised to wait to do anything other than that because the property is still not deemed to be mine. I have learnt so much about property purchasing thats for sure.
Shane
I have moved way to many times to remember exactly. I lost count at about 22 or 23. I think the longest I have stayed in one place was 4 years. I must be fairly nomadic by nature. I was paying off a PPOR (hence a stay of 4 years) on the Central Coast of New South Wales but sold that because the commute to Sydney for work was taking its toll.
After renting a room in a number of different houses through the years in Sydney, Townsville and Cairns I have decided to bite the bullet again on a PPOR. I will start moving stuff into the property tomorrow, start doing renos, and in a couple of years will turn the property into an IP and relocate to Cairns. This will be a final move for me. <moderator: delete language>
The biggest thing I am looking forward to doing is culling a lot of my stuff which has been like a noose around my neck. Every time I have moved the stuff goes into storage and i seemed to gather more stuff. Its been a heck of a waste of time and money and I have finally woken up to myself.
Hi Catalyst,
Thank you so much for the tips, I can never have to much information from those more experienced. The paint job will be a big one thats for sure. The whole inside colour scheme is way to dark for my liking and will need to have a complete sealing and painting of walls, especially being nicotene stained.
I am keen to get into the property but settlement has been delayed. It was due to settle last week but the vendor wasnt able to. It could be up to two more weeks before I can take possession of the keys. There are so many things you cant prepare for when buying, the vendor not being able to settle was something i didnt expect.
I have almost used up all of my holidays to put into moving in, painting etc so I will be behind in my plans to get the reno's done.
Its been a big learning curve for me.
Shane
Hi tlm,
Thats part of the reason I was drawn to Cambelltown. I also lived there when I was a lot younger and spent most of my weekends heading down to Wollongong.
Campbelltown seems to have almost everything I am looking for in an area.
Its a major hassle if i have to drive into the city but where I can I will catch a train.
Shane
I took photos of my property but that was a vacant possession. In fact the Real Estate Agent encouraged it.
I can only imagine in your case it may have been a privacy issue and the vendor instructed the agent to discourage it.
Shane
Jamie,
Thanks for the advice. I have never done painting on this scale before so its going to be a massive learning curve. The whole reno thing is going to be actually. My brother has offered to give me a hand with a few things, like replacing the rear deck and fixing the garage but I think with the painting I am pretty much on my own. It settles next week and then the fun begins.
Shane
Shahin,
Rents appear to be cheaper but as more and more people move out from the city that could change. There does seem to be a lot of properties for rent both houses and units/townhouses. The properties closer towards the Campbelltown CBD sell quickly and rent quickly.
I dont think its quite the area yet that you can buy something cheap and get top dollar rent. I may be wrong, I intend to live in my property for a couple of years before I make the decision to sell it or rent it out. The market could of changed by then.
Shane
Shahin,
I like certain areas of Bradbury, the only issue is to ensure that a thorough pest inspection is carried out as its well known locally that termite infestation is a common occurrance. If the property is treated well and a barrier maintained these arent really a problem. I got stung big time on a property in Bradbury before i purchased this one. It wasnt until i got a pest inspection was it discovered that there were live termites in the subfloor, one of the bedroom walls and they had all but eaten out the detached garage. I cant see how the vendor would not have known. I lost the holding deposit but it could of been a lot worse.
I like Ruse, Leumeah, Glen Alpine, Blair Athol and a few streets in Ambarvale. There are a number of older homes in the Campbelltown area that have been well maintained. The area between St Johns Rd/Waminda Ave down to Queen Street offers a few nice little streets with well maintained homes. The closer you get to the train station the better but there tends to be a lot more units and townhouses. I spent a few weekends out there viewing open houses, and coming back at different times of the day and late at night to get the feel for the place.
Shane
Hi,
The property was privately owned and has been for a number of years. It was built in the 60's and my guess is that it has been owned privately for at least 20 years due to the additions that have already been added. I looked at a few in Campbelltown, Mac Fields, Ingleburn, Glenfield etc before I decided on this property at Campbelltown.
Shane
Where i am currently staying it takes 15 minutes to get the hot water to the shower head
Shane
Thanks for the advice and information re your reno's Jamie. I am new to this whole reno thing but figure I will do it over the next 12 months. The property settles next week and then the fun begins. It will make a nice change to not have things in storage as has been the case for way to many years.
There are tiles in the loungeroom and dining room so I am pretty lucky there, although the colour of the dining room tiles would not have been my first choice. The kitchen appears to be fairly new with stainless steel oven and a dishwasher. There is a small servery window that opens from the kitchen to the dining room and my idea is to widen that and make it into a breakfast bar.
I think the biggest thing will be painting the whole inside, as each bedroom is a different colour,ranging from dark blue to purple. The ceilings are in the same colour as each room. The previous people appear to have been heavy smokers so there will be a lot of work needed with the sugar soap.The carpets will also need to come up.
I will take your advice and set up a spreadsheet as finances will be a little tight by the time I pay Stamp Duty ( a ridiculous cash grab) , legals etc
Shane
Hi Taylor,
Are you looking to purchase to live in or as an investment ? Are you looking for a house or unit/townhouse ?
Shane
I drive a Toyota RAV 4 Cruiser, 2005 model. Its got heaps of extras but the big thing are the airbags so I feel my son is protected when he is in his baby seat.
This year 2013 ;
- Do some reno's on the property I have just bought
- Fight for more visitation with my son
- Commence my on line business
- Take sailing lessons for when I move aboard a yacht in a couple of years
- Continue writing my book
Shahin, thanks.
I looked at a number of properties in the area before I decided on this one. Its a bit like the worst house in the best street scenario. The house will always be a short walk to the station so that in itself was a good reason to buy. I looked at houses, then units, then townhouses, and back to houses before I decided to bite the bullet so to speak. The ongoing levees on units and townhouses in the area work out pretty expensive, plus the restrictions that are placed on you as to what you can do with the property.
I dont want to over capitalise into the place but want to do a few things that will not only enhance the appearance but add a little extra value.
Shane
Thanks Shahin,
The property is in the Campbelltown area. The people that were living there appear to have been heavy smokers so giving the whole inside a repaint is a must. There are also a number of other jobs inside that need doing like the extremely low, virtually non existant water pressure. I will have to get a plumber in for that as that could be because of any number of reasons.
I thought when it came to the landscaping I would be looking at low maintanence natives as a preference and try and get some splashes of colour just break up the plainess. I guess you are right though, the money i save on the outside I can put back into the inside.
Shane
I am in the process of purchasing a property and it settles next week. It was a condition of my bank loan that I had to take out building Insurance or my loan wouldnt be approved. I am in New South Wales.
