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Ok I was looking through old posts and saw this one again.
A while back I spoke to a guy I know through the Results 2 program and mentioned this particular deal which I decided not to go any further with on the advice of a town planner friend. He informed me his mate had bought it and was in the process of building 2 units on the back.
Apparently if I had done some research with the council I would have found there had been other subdivisions in the same area on lots with a one dwelling covenant.
My advice is to get a second opinion and do some more research if a deal looks this good so you don't miss out on the profits locked away in a property.Thanks for the referral Chris
These guys seem to have done a graet job with out 09 returns.
I went to their property investing information night last night run by director Ron. Fantastic information and it's great to have an accountant who is an active property investor with personal experience. Some helpful tips on the night.Thanks Scott and Mister. I made an offer which started low ball and we negotiated from there. Final offer was $20K under what was a good price for me and got my terms and early access after the contract goes unconditional. The next day they changed their minds and yesterday the deal was on again and off again. Contracts are now signed and the deposit is paid…………to an RE agent. Yes they had signed with an agent the day before I found the place on it's last day with the previous agent so now he's getting around $15k for putting a deposit in his trust account and signing a few papers. Due to the slippery nature of the vendor and the many half truths during negotiations I'm using a solicitor rather than a conveyancer on this deal in case I get the run around and it's a good opportunity to get introduce a solicitor to my plans.
I'd have to agree with Scott No Mates. It really is a job for the very experienced or the tradesman.
We work on $50 to $60 a square metre for a coloured acrylic render here in Melbourne but you may do better or worse out of the local paper. Some will include the windows and doors in the meterage to allow for external corners, sills and reviels around the frames.Best bet is to get 3 quotes.
We rendered the front of our last IP reno and bagged the sides. Bagging is cheaper and easier for a DIYer however very time consuming. You'll have to paint it too remember.
If it's to sell the property I'd go for maximum street appeal and just render what you can clearly see from the street. Forget the sides and back as we're told most people (80% +) make an emotional decision on purchasing a property before they get out of the car.
Hope this helps.
Mark
Ok after months of procrastination we have chased some quotes from town planners or planning consultants. We are looking at $3,500 – $4,000+GST for a straight out subdivision with a building envelope.
The direction we will probably go in though is $8,500+GST for plans and permits for a second dwelling. The fees are to lodge a planning application.This includes:
Feature and level survey.
site context plan.
development proposal.
proposed plan of subdivision.
design reponse plan.
planning report.
landscape plan.
current copy of the title.For anyone in the Know……Do these fees look fair from your experience?
Lilydale topping is fine aggregate with clays and plenty of lime in it which cement is made from. The name originated from the Mitchell Limil Quarry in Lilydale Victoria. It is a waste bi-product in the process. I believe you can buy it by the 6m3 load directly from the quarry at a discount but youd have to be topping a large area to warrant this.
Poor mans concrete is simply stabilised rock. You can also buy stabilised sand. these are rock or sand aggregates with cement added. Get them from your local concrete plant.
Mark.
$1000 is very tight.
A new 2 sided shower screen will set you back $500 for a semi frameless pivot or slider.
Toilet suite from $120 for a cheapy from bunnings.
Tiles are best bought from a seconds outlet….Johnston tiles in Melbourne from $5m2 and if you have cheap/free tiler that's better. Use cheap whites with a contrasting border or vertical feature strip to snaz it up a little.
If you have a small space use larger tiles to door height and big mirrors tiled around to create an illusion of space.
Discount building suppliers such as Bourne and Builders Renovators Warehouse do shower, bath and basin tap set combos from $79 and look the part.
People love to see a 3 in 1 light at an open for inspection for rental or sale. You can get these cheap and remember the cost of installation.
The stinger will be any trades you need to employ. The labour element is the most expensive on a cheap reno so remember to keep it simple and where possible avoid any layout changes. Have a crack at the plumbing in the bathroom such as changing taps in the shower bath and basin if you are feeling handy. You can always call in the plumber if you fail and when he comes point to your tiling brother and say,"He did it!"As for eBay, best not to waste too much time bidding, waiting up and missing out on auctions to save a couple of bucks. Register at auctionsniper.com set your limit and return to your reno and it will bid on you behalf.
Good luck.
From my experience an average 60's 70's 3 bedder costs between $4-6K with a 'Roof Sea'l or equiv. Getting a bloke out of the local paper will cost $1500 to $2500 for exactly the same service perhaps less the 10 year guarantee…..maybe they'll give you 5 yr though. For this you'll expect pressure cleaning, re-pointing with flexible compound to replace the original cement pointing, a sealer coat and 2 coats of colour.
Beware the cowboys though using 2 very watered down thin coats. Ask to see examples of their work.
A tip for a cheap resto when selling is to go for the cowboy option. Even ask to have the tiles with broken corners moved into the gutter on an inconspicuous rather than replacement. It'll look good for at least a year.
1 man x 2 days + $400 of materials does not = $5000 or in fact $7000.Cheers No Mates!
I agree the East Link is a huge factor driving prices in the east of Melbourne. We have been doing reno's in Hoppers Crossing and Werribee and have now moved our interest to the East as the market isn't performing as we had hoped out there. I think it's conceived as a more desirable location. A friend of mine calls the western suburbs the moon. He says it's flat, miles from anywhere and there's nothing out there. The west generally has a lower income resident so I guess prices have a ceiling on them before they become in accessible to most of the population. We found also the availability of cheap new housing built in their thousands by major developers makes it difficult to compete in the market. I'm tipping though, the price knock on factor and the shortage of cheap rental properties at the present close to Melbourne will eventually lift the prices out there in the not too distant future.
We've been searching and putting in offers in the eastern burbs of Melbourne for over a month to no avail. The market is crazy at the moment. Very exciting. Dual oc blocks are selling well above the asking price and nearly all the re agents are playing the Section32 game and you end up in a silent auction against 5 other people. We had an offer accepted last night in Mooroolbark so now we can play the game once more.
I attended an auction in Chelsea a couple of weeks ago for two units on one title. Range was 300 to 400 and sold at 437,500. I dropped off at $330k. These units were very tired and needed alot of work.
Hey Steve, where are the RP2 final folders no.12?
Mark.Cheers Troy,
I may just buy myself that one for Christmas.
I’ll be trying to get to another of your get togethers……thanks for the notes, and I’ll chat about it then. I’ve had my head in a paint tin amongst other things trying to get our first reno off the ground.
Mark.Sounds like you have rolled wire cuts. They look like a nice brick which has been rolling around in the back of a truck for a few weeks.
We had ours rendered professionally and are happy with the result. They used an acrylic render base and we chose to have a coloured texture applied so we didn’t have to paint. This can be mixed to any colour.
We decided to only render the front of the house for maximum street appeal. I bagged the rest of the house using brick sand and cement with some liquid plasticiser added. The frontage was 20 square metres but as it had 3 windows and a door with sills cost us $1200 + GST. We could have just payed for a base for $1000+ GST and painted but decided it was just more work. The price worked out to $60 a metre because the bricks were rolled wire cuts with deep raked joints. The result is unbelievable. Looks great.
A tip for painting on bagging or render so you don’t use too much paint is to water the first coat down up to 50% as it will seal the surface without drawing too much paint into it.
Get some tradies out there for a price and some will give you plenty of helpful advice.
Good luck.Just to add, the T props go from the floor to the ceiling and the top of the T is flat against the ceiling to distribute the load.
You can use base coat instead of cornice cement but I prefer cornice cement as it goes off quicker.Ummmm Globe,
Are you talking about my reno? I’m dealing with the same problems in my extension at the moment. I actually had to remove some of the ceiling to fix the sag but it was only in a small section. If I was dealing with the entire area where I couldn’t access the roof space, I would have a go at pulling it up with screws. This isn’t always possible as once the head pulls through the face paper the fixing is useless. Try locating the joist and using a hole saw (30 to 45mm) cut a hole everywhere you want a fixing. Keep the hole piece. Squeeze in plenty of No More Nails (plasterers would use stud adhesive) between the back of the sheet and the joist then push the sheet back up and hold until the glue goes of with a couple of “T” props made from some 70 x 35 pine or similar timber. When the glue is set fix the hole pieces back in the holes and patch with some cornice adhesive. It would be better to add some joint tape, mesh self adhesive type over the hole and then topcote to prevent cracking but you know reno’s.
As for the torn paper, remove all the glue then run a scraper over to get the wall as flat and free from dags as you can. If the edges of the paper are loose you should remove them with a stanley knife. Just cut around the damaged paper 1mm deep then peel off the loose stuff. Fill with cornice adhesive and repeat until you are happy with the filling. Give it a sand with a joint sander with some P120 grit paper. You could use some topcote again on the final coat as this is easier to sand than cornice cement. You might find a few places you missed when you paint the wall but just fill them with cornice cement and sand then paint away.
Hope this helps. Trust me I’m a carpenter!
Good luck.Thanks for the input guys.
The general consensus is we have to pay penalty interest and yes I’ll be contacting the lender telling them to pay up…..good luck there buddy!
I’m told it is payable even if it is not on the contract and is a matter of common law. I’ll keep an eye on it next time.Put it this way. A friend of mine calls it the moon. It’s miles away, rocky and flat and there’s nothing there. Hope this helps.
Yes but the MAP is now R.E.S.U.L.T.S. I’m in the second intake with my partner and we are getting heaps out of it. I guess they’ll be running another one soon as I think we’re about half a year behind the first intake. Make sure your on the ball though as places are limited.
Good luck.[biggrin]I don’t think the fact the house wont have a dedicated room for a laundry will matter at all. Personally I think they are an ugly waste of space however, some people may be conditioned to having one in every house. A friend of mine has removed a laundry which was entered from outside the house and a shower room and separate
bathroom and opened them up into one room. This gave room for a corner spa, shower enclosure, double basin and another toilet. The laundry is now in a in cupboard in the bathroom with full height sliding doors with enough room for washer, dryer, trough and some shelving. It looks great and he’s had nothing but positive feedback while his house is on the market.
If you have to sacrifice a room for space in another room, I think the laundry is it.
Just a thought though. I have never seen a washer or heard it working in a dining area. Could you flip it around to open from whatever room it backs on to or is that too much work? It may seem a little too alien to prospective buyers to have a washer in a dining area.
Mark.Thank for your input Amanda and Chris.
Fern could you clear up step 6. Who is bank? Excuse the ignorance please.
Originally posted by fernfurn:6.Surveyors & titles office paperwork to bank, they sign & authorise title release to titles office
Thanks.
