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How do people feel about Towoomba at the moment? It seems to be getting a lot of money poured into it in infrastucture.
It’s also in closish proximity to Brisbane. Is it likely to go up in value over the next few years? At the moment, there are still some houses around the 300K mark…Thanks for the responses.
In your experience, is the RPdata appraisal likely to be very different from actual value? In this case, the appraisal is much, much higher than the purchase price. Yet RPdata didn’t have any facts about the house itself. It said it had ‘unknown’ bedrooms and bathrooms.
Is it usually so far off the mark? Onthehouse puts an estimate in at only $330,000(from 265,000 to 400,000). Would anyone hazard a guess…
Thanks again for you responses… Looks like we might go ahead with the purchase and not worry too much.
Thanks for the response.
The mortgage is interest only, owing $156,000ish with repayments of $140 per week.
I’m not including the tax benefits in the calcs(it is nuetral without tax deductions eg. depreciation).
I am including rates, insurances, PM commission, and 1% of the value for maintenance($1700 pa).The rental amount is about right. It got a rise of $10 per week about a year ago, and its still about right.
CGT would be negligible, considering it has actually had any CG, yeah?
What are the costs of selling usually?As far as maintenance costs are concerned, it’s an old houso, so cheaply built, but we did rebuild the bathroom and fix it up nicely 6 years ago when we bought it. It will need a new kitchen in the next 5-10 years, and the windows will need replacing, which will cost a few grand. The front fence will need fixing in the next few years, but its not very long.
Hope this helps?
