SA Adelaide Property News 2018

thats interesting, ive only heard good things about TS in the past, never used them as they were a little bit more expensive than other,

but if those accounts on that site are true, its truly a case of buyer beware

 

It appears that there's an extremely long list of circumstances under which they won't pay out. It's Suncorp - the same company that owns Youi car insurance. Enough said.

 

admittedly, one of my family members had youi insurance and a car claim and it was a very good experience, they actually moved the claim date to before the policy renewed so that we could get more $$$

 

I dont get commission on them and i'll still recommend them because i've used them myself and done quite a few claims. To me, the claims process is the most important deciding factor - any insurer can collect premiums but shows its true colours when it comes time to claim.

I like EBM the best because they let us sort the repairs ourselves and they give us a cheque with not much convincing (obviously we hand over the wad of paperwork proving that we did all the right things).

TS on the other hand requires an assessor which adds time to the process, but still overall ok.

The tier2 / tier3 insurers, coverage is too limited to be worthwhile.

Your post makes you seem like you're paranoid, have you had bad experiences with them before? If you had done any claims before you would see.

 

Thank you for the advice

 

Is she or any of your family handy?
One option could be to take advantage of an Affordable Homes property. These are ex-govt ones that are sometimes run down - could buy it, renovate it, live in it for the qualifying period then rent it out. The equity gain on doing so could go towards the deposit on their own home once they're in their career of choice.

 

I just think trying to buy while on a stipend for a PhD isn't ideal; best to wait till she has the income to support the mortgage.

 

We actually bought 2 IP , renovated by ourselves with very low costs and both are being rented. We also thought about the same way for her to buy a cheap one now. I am in capacity to give her about 100k for deposit if needed, but not sure doing it this time or later when she could buy a better home to live in. We can't expect much with just over 200k , buying ex-govt house is an option, however, most of them are in low-developed areas

 

Hi, adding to the scenario is she is living with us and all stipend goes to saving. She may save up to over 100k after 3 years as having 2 casual teaching jobs at an Uni and a college as well

 

@Mongcamdi I suggest getting some advise before gifting any funds.
I would suggest would be better 'lending the funds' for tax/protection.

Also I wouldn't be going with HomeStart unless you needed lower deposit/servicing. Might find another banks are willing to lend to her... on much lower rates.

 

Don't believe @D.T. is referring to ex-govt houses like you're thinking.
My guess is he's talking about affordable homes...
Residential Properties For Sale & For Auction
There are properties (OTP) in Burnside - not sure that's low-developed in saying that I wouldn't be looking at these to buy.
Something like this 38 Lavender Drive, Parafield Gardens, SA 5107 is pretty good value.[/QUOTE]

 

[/QUOTE]
Brady, thanks heap. I never thought there are affordable homes in Burnside . We will start hard searching with Affordable homes. We consider Homestart because other lenders don't take stipend as an eligible income for bank loan. I will check with my accountant about lending the fund

 

Brady, thanks heap. I never thought there are affordable homes in Burnside . We will start hard searching with Affordable homes. We consider Homestart because other lenders don't take stipend as an eligible income for bank loan. I will check with my accountant about lending the fund[/QUOTE]

Again I wouldn't be buying the Burnside properties personally. But there are properties sold by the Affordable Homes program that are in 'higher' socioeconomic areas. But they usually go very quickly. Look out for the houses on nice size blocks, they usually go extremely fast.

Also who told you that the income wasn't accepted elsewhere?

 

Nope,sorry.....thats not my experience,both TS and EBM,worth every cent.

 

I have put in claims with TS and EBM. TS I had to fight for months and got $9000 out of $12000 eventually.

EBM I have had 2 claims, one for rental arrears/damage and one for storm damage. Both approved same or next day and payment received once evidence payment of trades provided. The rental arrears one was almost 10 months after the fact as I forgot about it till tax time, and they didn't bat an eyelid at it, it was approved within a few hours

 

Any insurance in general you have to be extremely careful and read the entire PDS cover to cover - I haven't personally had cover with them but I know people who have and they report a similar experience to Dave M that the claims process was very arduous and then argued about the value of the damage. Also argy bargy about what the bond should be covering.

 

@Brady something like this comes up from time to time in the western suburbs.
1 Childs Ave SEATON

That area is still a little bit of a ghetto but I believe will improve over the next couple of years as the new development at west lakes gets completed and the housing trust redevelops the area.

They are redeveloping a lot of the west around seaton, kidman park, findon. Knocking them over, subdividing the blocks into 300 sq m or less and selling them off to a mix of 80% private 20% housing trust / low cost housing. There are a couple who are sold through the scheme. You certainly have to be quick and organised to get one as its first in best dressed with the agent. You need a pre approval first up.

I was lucky enough to purchase one in Kidman Park in 2014 which wasn't in great shape but have renovated it, rented it out and now am back living in it. They are a great way to get your foot in the door and I have done very well out of it especially now the land value has gone through the roof with all the new houses going up around us. They are good sturdy houses with solid bones but quiet often have been neglected.

Good luck

 

Again I wouldn't be buying the Burnside properties personally. But there are properties sold by the Affordable Homes program that are in 'higher' socioeconomic areas. But they usually go very quickly. Look out for the houses on nice size blocks, they usually go extremely fast.

Also who told you that the income wasn't accepted elsewhere?[/QUOTE]
I have bank loans with CBA. Consulted with the same officer about my daughter, it is what she said

 

Very good example. We should try hard to find one. Yes, the house at Seaton should be a good one as I think that is a good surburb

 

You can add the Apartments at Henley Square to that list. Though they seem to have lots going for it, the build has been the concern.
I would also like to hear what you all thought about the usage of black colored bricks being used on new builds, Is it just the trend at the moment?