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Your right Paul they would be stupid to buy now, the other problem I can see for investors is that the grant is only for homes under $450. thou so if your just over the mark you will either have to bring your price down or risk not selling.
yesterday is gone its what you do tomorrow that counts. A crystal ball would certainly make life easier, but quite frankly if a large mining company was pulling out why would you want to invest .there has been plenty of gost towns over the years. And who was to know we were heading for a boom.
Fire trucks are still moping up, the owner that lost the property went with the chaplin and the people with the badly damaged house stayed with neighbours, Looked like a war zone inside hard to imagine without seeing. The dog which was once white is now 2 shades of grey and was put on oxygen, owners very happy to have her survive. All due to a 53 yr old bloke burning off in a total fire free zone.
Nice to know you live so close Cam AmJust wondering how slightly charcoaled property sells, my house is on the market at the moment, I was eating my lunch reading this forum when every thing around me went black. We live in the Perth hills. I have just spent the last 4hrs packing photos and fighting fire. Luckily we are o.k. Not so lucky for our neighbours though, one house gone and talk that another has. And one neighbors window was broken to get the dog out when the end of the house caught on fire.
Just thought I would share my day with you, hows every one elses going.If you sell a property before 12mths you pay 50% more in capital gains tax. But I’m not sure if the 12mths starts from the time of purchase of the block or when you have finnished building the house on it.
Thanks for the input. I work for a bank and apparently there is no sign of slowing down on the lending yet in WA, its still full steam ahead. According to the HFM.
Hi all,
Great to hear your stories, as I’am new to this. My husband and I sold our boat at the beginning of the year so we could cash in on the last of the property boom. We paid someone $7.000 to find us land and oversee the building of a house on it. As it will be a tax deduction we thought it was a good idea, we also had a very busy year ahead with family commitments so thought this would take a lot of the pressure off. So far so good, it is due to be finnished in Feb. and has gone up in value quite a lot thanks to the Perth market. We will then have to decide wether to rent it or sell. We have our own home on the market at the moment, we are hoping to get a block of land on the river, we are in a ballot, we have a 50/50 chance. We will then have to buy a very cheap house to live in much to the 15yr old daughters disgust. (One toilet I don’t think so .) and either rent it if we build on the land or sell it.Do you think the W.A maket still has some go in it or are we done. What I haven’t been able to do so far is build a portfilio, I keep selling every thing, one because my husband is very causious and want let me ever have more than one. and 2 because I’m impaitant and like to have the money to spend else where.
Hope next year is better for you Shaun
Good luck to you all.Thanks Marisa for your input, you have been very helpful.
Thanks for your reply Marrisa. I am new to this. They expect The cheapest block to sell for around $750.thou. They are asking $2000. per sqr mtr. The house will be around $450.thou. I am hoping as they are in big demand and the people wanting them should have lots of money, that if we get one we can pretty much sell it straight away or a profit of around $100.thou. Or build the house on it if we can afford to. Live in it for 6mths to save on the tax and then sell it. A house across the road recently sold for 2.5 mill. But that was a large old house on a much bigger block. We will be closer to the park and river than them..
Yes I think the wa maket still has legs if you buy in the right postion. either water or subdivision. But that just my opinion and I don’t have any thing to back it up with.
The average block size is just over 300sqmtrs. They are terraced, with 3 levels The front ones which are right on the river will be the dearest the next row have little views so they are the cheapest, the last row which are the ones we will try to get have quite a good view from 2nd story. They are expecting these to be around $750thou. $2000 a sqr mtr, I think the agent said. The area is lovely.
You don’t have to pay the asking price, you can negotiate, we have our house on the market at the moment. The agent started at $21 thou. we settled on $9.000. With her paying for advertising. Always get at least 3 valuations. And although the gentlman befor seemed to know what he was talking about in my opinion I have always found the banks to under value.
