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Decisions, decisions. Arghh! Hate it! I don't expect Davoren Park to triple in value – double would be nice over 10 years. That's when I want to pay off my home mortgage. Who the hell knows?? Thanks for your insights – all fuel to the fire, so to speak. I know in Perth they made big statements about the New North rejuv'n proj but – it doesn't jell with what you see on the ground – so again – who knows with the Playford Alive proj???
Cheers
Biggaz13
What is your opinion of the Playford Alive rejuvination project. Has it had any positive impact on the area? I used to live in a similar area in Perth. Balga was known as part of the KGB area – high crime rates, lots of housing commission tenants , dodgy looking neighbours who actually turned out to be wonderful if not a little rough round the edges. It had The New North urban renewal project happening that was way less money than Playford being spent on it. When I sold the house it had trebled in value over 8 years. Whilst I worked in the country, I rented it out and yes, the tenants weren’t the best. Had all sorts of niggly issues with them. So I am aware of all you said and appreciate your comments. It is just that my budget is limited to $270K max and I don’t have many options for buying what will essentially be a land purchase in the long term.
I also understand that Perth went through a property boom during that period and should not expect same rates of growth. Do you have anywhere else I should consider in Adelaide that would likely fit my budget.Jamie
I will question them further on exactly what demos entail.Cheers
HI Jamie
The group gets an upfront fee from me and the lender that's given conditional approval is the ANZ and is the same package that I am on with my home loan – except 0.3 % better rate! They do get a commission from the bank which looks to be same as previous mortgage broker got.
The renos have a max budget allowed of $38,500 and itemised bills etc get forwarded to me and any balances left over go back into my account. The work is new paint, window treatments, floors, bathroom and kitchen and maybe a little landscaping – work only done if needed! They say they are adding about $40K to the value through what they do.
I won't make any final decision until I have read the property condition report and pest inspection report.
Cheers
Liz
