Wouldn’t it be better, if you were doing extensive renovations, to get a valuation before you do the renovations, so there are no surprises.

James

Rachel77,

Sorry to hear about your child, I wish you and your family the best for that.

One thing about this forum is that you will get some great ideas, insights and next steps about your situation.

Initial suggestion from me, would to be examine the option of renting out your current PPOR. At the same time, if you downgrade (hate that word)…[Read more]

MH,
It wasn’t for a specific case, but I have seen commentary from some people that redraws in some circumstances are better than refinancing.

Understand the basic difference and that re-financing allows you to use capital growth in your property. But I was wondering if there were any other costs (aside the stamp duty, loan costs etc) or other…[Read more]

Can only concur with Alexander2. I am a Purchasing Manager and I know how closely we analyse and scrutinise costs. The time spent in ensuring an optimal value proposition for the organisation.

I have caught myself many times, for personal expenses being on the flippant side…yes, I’ll buy this, yes I’ll take that. Now, I don’t think you can…[Read more]

Rachel77,
This highlights the point that at the end of the day, even experts have their own blind spots, preferences and prejudices. That you need to know they are practising and advising in the areas that you want.

James

Rachel77,
You of course don’t necessarily need to be in the same region as your accountant. E-mail, fax, phone all aid this. If you don’t end up getting someone you are happy with in your area, you can look at some of the accountants mentioned on this site.

James

Alan Greenspan has mentioned in his comments recently, that the low interest rates in the US will seemingly be in place for a little while longer.

As an aside, the Bank of Canada have reduced their rates by 0.25%, to 2.25%.

James

Got sucked into that one then!!….

James

Deborah,
Let us know if and when it goes through. On the surface it does sound a little crazy. But, like you it sounds a pretty good offer.

Just take into account capital gains tax, selling costs etc, which may take a big chunk out of your profit.

Maybe its time to re-value the property again.

Is there anyting happening to the land or…[Read more]

Julian,
What areas are you interested in purchasing in??

James

Kay,

Don’t know how big these are, however, there are storage units available for rent in other residential apartment blocks in Southbank/South Melbourne and currently rent between $15-$30 per week. These are generally, wire mesh cages. (body corporate is almost negligable)

Similar for car parks in those buildings, but they are being sold for…[Read more]

Yes, he won the 5th out at Cranbourne last week, in a Group 2.

But he is also an accountant in Melbourne – http://www.gatherumgoss.com.au

James

Renting is generally cheaper than owning a property. (No paying for maintenance, building insurance, rates, land taxes etc and rent is generally less than an equivalent mortgage payment for the same property).

Should we (ie society) move on from the concept of home ownership to property invetsment ownership??

James

Well, you can’t leave us hanging on….what was in the little bag??

James

Tjal,
No doubt you need to probably target better than ever where and what you buy. Everyone who has had property in the last 4-5 years has made money. You will buy property however for the longer term.

Whilst some properties are going to reduce in price, most others growth will simply return to long run averages. That still is growth!!

Is…[Read more]

Richard,
Is then the starting date, the contract date when you buy or when you physically move in?

james

Have a read of the book ‘The Big Shift’ by Bernard Salt. That will give you some insight into the coastal phenomenon going on in Australia.

James

Dreamergirl,

Some quick sums which I hope may help.

1. Set-up line of credit (LOC) on your existing PPOR. Therefore this takes you to $240k (80% of $300k), which is $100k LOC facility.

2. Purchase PPOR with $15k savings plus $57k from LOC.

3. Change your payment to interest only (I/O) on your current PPOR mortgage, which will now be IP.…[Read more]

I now think its time to put the respective weapons down and call this subject over. There are some interesting PROPERTY subjects we need your respective knowledge on.

James

Ever thought if Jesus got into reno jobs (given his carpentry skills), that the course of the Christian faith would have been different!!
(Just dumbing it down a bit – sorry)

James