Stop buying units /apartments

Discussion in 'What to buy' started by Darlinghurst Boy, 13th Jul, 2015.

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  1. HomeMinister

    HomeMinister Well-Known Member

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    to top it up i paid no LMI and peanuts on stamp-duty to conquer it.
     
    HomeMinister, 13th Jul, 2015
    #21
  2. Pistonbroke

    Pistonbroke Well-Known Member

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    And whose fault is that? The lenders for having a policy encouraging 100%+ mortgages? Mortgage insurers for allowing additional leverage? the council for not enforcing occupancy restrictions? Body corpocorpcorporate not restricting occupacy numbers/keys? Gummint for FHB incentives? Reserve Bank for interest rates? FIRB/Foreign investors?

    No. It is greed!
     
    Pistonbroke, 13th Jul, 2015
    #22
  3. Chilliblue

    Chilliblue Well-Known Member

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    Agree on your point Piston. As a reference, there are owners out there installing internal walls to add additional rooms who claim to have no knowledge that the practice is illegal. It has cost the life of one young girl in NSW and how many more have to die before a government department stands up and stops the practice.

    Seeing that it is the state governments who are pushing the developments and local councils that are keeping quiet for the extra rates, then they should be the ones to implement an act and oversee it.
     
    Chilliblue, 13th Jul, 2015
    #23
  4. Rixter

    Rixter Well-Known Member

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    No, not apartments... Im meaning Villas & Townhouses.
    This kind of thing...
    http://somersoft.com/forums/gallery/showphoto.php?photo=2412&title=sunnybank-hills-qld&cat=514
     
    Last edited: 13th Jul, 2015
    Rixter, 13th Jul, 2015
    #24
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  5. Propertunity

    Propertunity Well-Known Member

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    Back in August 2010, in a Residex newsletter, John Edwards said: "Sydney units which are well-positioned (close to transport hubs) and more than a decade old look to me as if they are going to see the best growth. Having said this, avoid suburbs where there are significant volumes of new development taking place".

    We had been doing this for our clients already since 2008......mostly top floor units of 3 storey walk-ups with low strata (because there are no lifts, pools, gyms or spas)......and they have grown very well. Units we were buying only a few years ago for $450K are now revaled at $650K+. Many are worth in the early $700K's.
     
    Propertunity, 13th Jul, 2015
    #25
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  6. sash

    sash Well-Known Member

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    Not true...well located units can go up more than houses.

    Just bought one 6 klms from Brissie...same one in the block going for 45k more!

     
    sash, 13th Jul, 2015
    #26
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  7. Jacque

    Jacque Jacque Parker Premium Member

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    Generalisations just aren't helpful with the old units vs houses argument. Simply too many other variables to consider these days, as well as our changing demographics and buying landscape.
     
    Jacque, 13th Jul, 2015
    #27
  8. HomeMinister

    HomeMinister Well-Known Member

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    why apartments don't attract CGT? there are numerous reasons. my fav is apartments have lots of in escorts doing dirty business.
     
    HomeMinister, 13th Jul, 2015
    #28
  9. KDP

    KDP Well-Known Member

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    This is the big kicker here. For me a unit can be a cheap entry into a suburb that I like but where houses would be out of my price range.
     
    KDP, 13th Jul, 2015
    #29
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  10. Tekoz

    Tekoz Well-Known Member

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    Do you mean prostitution (high class escort service) ?
     
    Tekoz, 13th Jul, 2015
    #30
  11. sash

    sash Well-Known Member

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    Yep..exactly....house prices on the street I bought are 650k-1.2m.

     
    sash, 13th Jul, 2015
    #31
  12. Tonibell

    Tonibell Well-Known Member

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    Northern suburbs ?
    Near a train station ?
    Any clues at all ????
     
    Tonibell, 13th Jul, 2015
    #32
  13. HomeMinister

    HomeMinister Well-Known Member

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    not high class but high rise! who would rent these places and do the deed.
     
    HomeMinister, 13th Jul, 2015
    #33
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  14. sash

    sash Well-Known Member

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    Near the station...6 klms from Brissie....that all I can say.

    I bought it because Body Corp was $1500/pa.....BCC rates $275pq and water $250pq. So same as paying rates in Moreton Bay or Logan.

    Another...a house working on the deal at the moment. Hope to secure for 301k.

     
    sash, 13th Jul, 2015
    #34
  15. Tonibell

    Tonibell Well-Known Member

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    Is that offer the equivalent of retail putting up a price of $199 - just so the seller thinks "well it is less than we wanted - but then again it is over $300K"? :)
     
    Tonibell, 13th Jul, 2015
    #35
  16. wylie

    wylie Moderator Staff Member

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    Hey Sash. I wondered if it was a SS member who beat me to the one you've just bought. Missed it by "that" much :p
     
    wylie, 14th Jul, 2015
    #36
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