Ripstar,

Did you organise finance through a bank or mortgage broker? MB’s tend to see the valuations and could have confirmed what it was. Banks generally won’t tell you, however some, if there is a greater than 10% differential between purchase price and valuation will let you know out of professional courtesy…

When you purchased, did you…[Read more]

Foundation,

Are you saying that we are going to experience 10 years like Japan has during the 90’s. The differences between Japan and Australia’s respective economy’s are as vast as the two country’s cultural divide…I can’t see the relevance.

Now revisit your assertion that:
“in 10 years’ time, that property is going to be worth considerably…[Read more]

Humph,

It might be worthwhile to purchase Residex’s predictions Future Growth, which outlines their predictions of capital growth for the top 100 postcodes in the state of your choice.

It is released/updated every quarter and costs $185 (?). May assist in answering your…[Read more]

Couple of observations…..

Myopia, def..lack of discernment or long-range perspective in thinking or planning

This is a broad generalisation, however, people IMO are more focused on the now than a 10 year outlook, so any discernable change in the property market (PM), is likely to have a proportionately greater impact, and given the recent…[Read more]

JenD,

Site Value – market value of the land only
Capital Improved Value – total market value of the land plus buildings and other improvements
Net Annual Value – for residential dwellings, the NAV must be 5% of the CIV

*market value is the valuations made by the council as provided by registered valuers

The rate in 5.0 cents, is the council…[Read more]

Giddo,

More detail please….for example
1. How big (ie size sqm)- this might impact financing
2. How many in development?
3. Who is the the target market for rentals eg students
4. Comparable sales in area. What do you mean by valuation (is that sales price or a valuation by valuer?)
5. Wish to keep for 3 years & then lease out – What does that…[Read more]

HC,

Try this link http://www.national.com.au/Online_Services/0,,21473,00.html#3

Choose Home Buying & Selling cost calculator. (It just does not include CGT)

Further to Derek’s questions, could you not assign the valuation to lender x….??

Retire40,

You mention the consolidation of credit card debt into your IP loan I presume (?). Well you won’t be able to get a loan first until at the very least until the $5k is paid off first. There is no chicken or egg dilemma here!

You need to have a clean history or a valid reason to explain away any deafult. Put yourself in the position of…[Read more]

Ricksta,

Go the the Finance section and you will see a plethora of commentary, insults & verbal sparring over interest free…..

Each time someone asks a question or makes a comment about that topic…I hear re-runs from Faulty Towers…..don’t mention the war!!

Dazzling, at first glance, i thought you had a murderous tree hating tenant [biggrin]

My insurance policy with CGU actually covers the impact of a falling tree, with the cost of removing & disposing of the fallen tree or its parts. But the insurance doesn’t obviously cover damage if you cut the tree down or its branches or have someone else do…[Read more]

Irrespective of the draft plan, an investment in land (ie existing dwelling and large block) in SEQ IMO is a good one. You can do a search on either south-east QLd or Gold Coast on the forum and there is plenty of previous discussion on this.

Bearing in mind that this is a draft plan and the wheels of government do turn slowly, so before it…[Read more]

Caveats are like a signal to a prospective purchaser, which has been lodged with the Registrar of Titles, indicating that someone else has an equitable interest in the property.

It prevents the Registrar of Titles from registering another interest against the title without first giving notice to the person who lodged the caveat.

The costs that…[Read more]

Rob,

Doesn’t answer your question directly, however most lenders would not allow a second mortgage on title. Another option would be to have an unregistered mortgage or caveat on title.

Caveats are approximately $100 for Vic (inclusive of Land Titles Office charge & your solicitors charge)

A article in today’s AFR (4/2/2005), titled Changing Coastal Landscape, referenced a BIS Shrapnel report that indicated that holiday-home ownership would grow steadily over the next 5 years, and that three-quarters of those would be located in coastal towns.

The greatest increase will be in NSW, at ~ 3500 additional owners per year, QLD at 3300,…[Read more]

Vtxdevo,

Cheap cars (no hire purchase)
Live or living at home
Savings & being frugal
Parents gifting deposit (this is pretty significant as saving for a deposit is probably the most difficult thing)

These are things that first come to mind.

Chipper,

One swallow does not a summer make.

How much did they make in the last five years?

The same issue applies with property until the end of 2003. Most people with any property made money in those preceding years

Ziggy,

The usual way this is done, is that the trustee on behalf of the trust borrows money to purchase units in the trust, in which the trust then uses these funds to purchase the property.

The trustee is usually liable for the debt in case of default. This is quite common and should not be an issue, although some banks are easier than others…[Read more]

Easymoney,

If the IP is the only property which is being used for security, then you will not be able to avoid MI.

Cross-collateralising might be one way around this, however this solution is probably worse than paying a few thousand dollars in LMI.

There are quite a number of financiers who offer the capitalisation of MI into the loan.

Summer,

An offset account is simply your transaction/savings account whose balance is applied against your loan account for the purposes of calculating interest payable.

If you have a LOC/redraw facility on your loan and have the available funds to use as a deposit, then, this would be a clean and legitimate way of placing a deposit on another…[Read more]