125k 31m 136k 30F

180k savings
90k ETFs

Is it time we bought and what would we be able to borrow?

I know the advice is always “get in yesterday” and that having a foot in the door is the best thing you can do for yourself.

I guess my question is around long term planning. My partner and I make a combined income of around $150k and have approx $60k combined savings. We’re aged 26 & 28 and are renting at the moment and I think we could potentially look at buying an apartment in western Sydney from previous conversations I’ve had with a broker. I just don’t know if long term we are going to stay in Sydney, he is working casually at the moment but has plans to potentially change careers into something where he might get “sent” elsewhere in NSW. I have a job with NSW gov so this wouldn’t be a problem for my income. I guess my question is, is it really that stupid to keep renting right now? Everyone I speak to says to buy as soon as possible but if we need to resell an apartment in under 5yrs wouldn’t we likely lose money?

Hi there, I am currently looking for a property to buy but I wouldn’t be able to go to the bank because my profit isn’t much on paper as I take cash in hand. But I have got the 20% deposit sitting ready. So for a low doc I can provide my BAS which is nearly $3.0M each year for the past 4 years. But keep in mind i have a 75% share in the business. I still don’t know if I am eligible for a Low Doc loan. I never had any kind of loan or credit card issued to me and no cars under my name if that helps with no other liability.

If any broker is here who can help me with my situations. Thanks you

Hoping this doesn't breach R2 - this is not a service or business - just the output of a personal project and free.

Out of frustration with REAs putting 'contact agent' instead of an actual price on Domain property listings, I made a browser extension (for chrome and Firefox) that displays all the hidden fields that they fill out when adding a listing, including the price and other stuff like days on market. Also shows sold prices instead of 'Price Withheld' for sold properties. My partner and I have found it pretty helpful in our quest for a place, so I hope it proves useful for someone else.

REveal - hidden property data - chrome extension

REveal - Hidden property data - Firefox add-on

Edit: thank you kind stranger for the award! My first one in Reddit in forever!!!

Edit: thanks also to whoever the kind soul was that send me some cash!

Would you buy a ‘stigmatised’ house, or live next door to one? Or is a property just a property?🧐

Myself and my partner are looking to buy our first investment property. 32F and 34M. Borrowing capacity up to $1.3m with approval up to $600k currently.

We want to build a portfolio and invest in 2 hopefully 3+ if all goes well over the next couple of years using equity to purchase.

We can’t decide whether setting up a trust for our first property is the best way to go, or whether we should do personal first and trust later. Appreciate there are costs and extra paperwork involved if we do.

Any advice would be very appreciated!

Hi guys, sorry for the long message. But here it is:

We have signed the contract with our builder and initially agreed to have their building Surveyor only to assess our property.

We are now around framing stage but I am thinking of engaging to a building Inspector to ensure everything is assessed properly.

Firstly, they responded to me in person that the Surveyor can cover those things and it might be double work to engage with the Inspector. I mentioned to them that we their roles are somehow different that it checks more on the finer details.

Later on, they sent me an email re if we wished to proceed with having an Inspector, these are their conditions:

Additional time or work required as a result of the inspections will be treated as a variation and will incur additional costs.

This will include:

Responding to emails, reports or queries raised by your inspector.

Our team attending site with the inspector and allowing time for the inspection.

Reviewing and discussing any items raised following the inspection.

Carrying out any rectification, additional works or changes requested as a result of the inspection, where applicable.

Any associated administration, coordination or follow-up required.

Our rates:

$`250    to respond to each email

`$250    to read reports up to 5 pages

$`500    to read report over 5 pages

$500    to attend site, up to an hour with additional $300 per half hour over the hour

`$500    to attend pre handover inspection

20%     margin for additional works requested by your inspector   

We still have lockup Stage, Fixing Stage and Pre handover inspection left if we engage with the Inspector.

Also, we are building with a reputable builder in Regional VIC who has been in our town for many many decades and everyone I have asked have been telling me that they build good houses.

Reading their conditions, would this still be in accordance to the Australian standards or not?

Thanks in advance for responding!

Good morning everyone.

I have finally found a property which I do regret a bit with the falling prices. However, next week I have a final property inspection with the agent. Just wondering what should I be looking for and anything specific to note. I had full inspection done and they noted multiple issues but the agent will not even let me speak about any of them. He is very rude and will not even let me speak on anything. He is the reason I want to pull out at this stage. Just his attitude it making me feel like nothing. Biggest purchase of my life and being treated as a door mat. I am tempted just to tell him at the inspection that I pull out. I am happy to loose the small deposit I made when house prices have been falling here.

Sorry I know I waffled on just regretting things.

Thank you for the feedback

I’m looking to rent out my property, looking at different agent fees at the moment. Can anyone tell me if this is average or pricey.

Looking at getting an investment property. Put in a non binding offer which the vendor has accepted but I’m having cold feet.

The fundamentals look good, it’s in a regional town, so not as sensitive to the current house price shocks in the major cities. Dual key property, on a well sized corner block, and in the good side of town. and the vendor has nearly tripled his money in 10 years since they bought it.

The current yield is actually pretty good, however it’s still going to cost me at least 14k in net outflows per year, best case scenario. Could cost me up to 20k accounting for potential rate rises, if things need maintenance etc. With no neg gearing tax benefits it seems tough and while I will still have enough money to get by, it’s certainly not ideal to be losing 14-20k per year into thin air.

This will be my first property and I know the current thoughts towards buying investment properties is now very divided into two main schools of thought. Some say property investing in Australia is a ship that’s sailed and I’m 5 years too late. Others say this is just a little correction and it’s a good time to buy for cheaper.

If and when rates come down it will get a bit cheaper to hold, and in that same time, rents will rise a bit too, meaning in a few years I’m sure it won’t cost quite as much, but still won’t be positive geared for a while.

Is this even a good idea?

Hi All,

Looking for anyone with experience/knowledge buying an off-the-plan apartment - it's an apartment block with an estimated late 2029 completion date in Sydney, Australia.

I've made an offer that has been accepted, and both parties are happy (yes, I know off the plan is not typically recommended, but in this situation it's suitable for us). My understanding is off the plan contracts are more involved than other purchases.

Now I'm looking into a conveyancer/solicitor to review the contract before paying the initial 5% deposit (and another 5% deposit in 4 months time, as per their request). I've seen some conveyancers offer a free contract review, my questions are:

1. Is it common practice to ask more than one conveyancer to do a free initial review - kind of like getting quotes from multiple tradies?
2. The salesperson says it's not typical practice to send the contract to me, to then forward on to a conveyancer (or two, if I'm doing the above). Their solicitor usually talks to the conveyancer directly only. Has this been the case for others?

Thanks!

I am about to commence a project in Bendigo to build factories.

I am concerned about the timing of this project in a rural area with everything going on. Is industrial development a sound strategy in this context and will it worsen in the future?

If anyone is in Bendigo, do you believe the area is experiencing a general improvement?

Howdy!

Hope this post is appropriate to make on this page.

I'm very fortunate to be in the position to be looking into purchasing my first propery. Currently, I'm looking at townhouses and units.

I'm really struggling to understand what strata and body corporate is, doesn't matter how much googling I do it's just not sticking! Also struggling to understand what types of property these are attached to. I've been told to just stay away from apartments to avoid B/C and strata however google is telling me there is B/C and Strata on units and townhouses too.

Anyways these are early days of investigating for me so any advice is greatly appreciated :)