hi
my partner and are looking at getting a unit,it is in a complex of 6, the one for sale is the main one, out the front of the unit block. The rest of them are in a ‘I’ shape heading out the back (if u know what I mean)The unit that is for sale has more street appeal, basically looks like the front of a house with units out the back (up high) garage under each under. The unit we are looking at has underneath which can be built in, eg a spare room which we are hoping could be rented out. Quite a bit of space underneath, the owners car is currently parked there. it has two bedrooms upstairs, built ins, one bathroom (newly renovated) but very basic finishings. new kitchen, the owners are re paiting it. wooden floors, hardwood. downstairs laundry. this unit has access to a courtyard out the front. This unit block actually use to be a house, which was sold off and a developer made into units. unfortunately, I am unsrue as to how old it is. I would say 10 years. once fully competed, eg painting done, carpets down, kitchen finished (eg fittings) they are asking $259. If sold privatley I would minus $8000 from R/E fees. + more if we decide to finish of renovating ourselves. without seeing the property I know it is hard, but any advice on it would be great!. also, if the price they are quoting is sufficient, I mean a place up the road is $265,00 with two bedrooms and two garages, full finished and newer.
also, with purchasing this property (if we did) we arent married, nor engaged but with an idea of doing so. I dont want to risk anything, so could i buy it and my partner pay the rent etc or both put half in , etc what are ur thoughts?
I look forward to hearing from someone soon
thank youI am in Brisbane and wonder if this is the type of set up where a house on a block is now one sixth of a complex consisting original timber house with five new units in the back yard? If so, I wonder if the body corporate fees are equally split between the six.
I ask this because one of my first IPs was one unit in a new brick six pack but the front unit was three levels, three bathrooms. It caused considerable angst because this owner thought he had more say because he had a bigger unit. He wanted things done HIS way.
I just wonder if you are looking at the house, if the reverse would hold true. Would the unitholders at the back want you to pay higher body corporate fees because you are in a timber “old” house needing more maintenance? I’d check out the body corporate very carefully. If it is only ten years old, it may be brick, so I may be barking up the wrong tree.
Apart from that, I wonder about the one down the street for similar money. Is it a unit or a house on its own block of land? I assume for the price, it must be a unit, but if not, I’d say it would be a better bet, because you don’t have any body corporate hassles. If it is a house you could even go down the track later of doing the same thing to that house if the block is big enough.
If it is a unit, then I’d say you have to decide which is better value, better finish for the price and make your decision.
Regarding the split between your partner and yourself. This is a very individual one. I know when we got married, we both brought a house to the marriage. We both had debt. For me personally, if I was starting again, I’d split everything down the middle so that if things don’t work out, there is no haggling, 50/50 split.
Regards, Wylie
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