We bought the house!! :)

Front is heritage yes. The back isnt. The street is a conservation zone too. There's lots of gorgeous houses in the whole area.
Its also on bushfire prone land so if we build something, that has to be kept in mind. I do like the bush though, saw a scrub turkey, colourful birds in the area and a huge lizard maybe 50cm long on someone's rooftop.

 

It's beautiful. Lots of potential there. Well done.

 

What are the possibilities of converting Cellar/Storage into Bedrooms in addition to kitchenette idea? And renting the whole place or even AirBnB by rooms.

 

Based on the information known, I am pretty sure that you have made more capital gains from this purchase compare to the one in Adelaide. Well done indeed!

 

Everybody's comments... thankyou. I've got a real smile on my face reading all your comments.

I could not have bought it without my investing because it would be "too much".
We would have been happy living with no ppor interest payments (which would have been within the next 12 months) as the current ppor is nearly paid off but this won't happen now.

I may have to stay in the rat race for an additional 5 years... but it's ok!

 

So you'll rent out the 2 bedrooms downstairs on Air BnB and live upstairs? Nice separation and will work well.

I agree that the laundry area will make a good kitchenette. You could move the laundry into one of those cellar rooms. I'm assuming they probably don't meet 2.4m high ceiling rules to be a habitable bedroom/room.

Upstairs if you wanted you could turn that small loungeroom into a WIR and ensuite for the bedroom in front of it. Make it a really nice and grand master suite.

It does make it more hallway-y so if you don't mind using the small bathroom in then I'd make it into a nice library/study

 

Beautiful position too Linda. Not too far from the park, that's probably where all the lizards and other wildlife live. Easy access to main road and freeway and close to all the good stuff. Great buy.

 

No for the cellar/storage areas, the ceiling is too low. But I would definitely consider leasing out or airbnbing the other spare bedrooms for guests or uni students. I'd say it would be a 15 min trip door to door for the nearby uni. Partner probably has other ideas though...

 

Linda
what sort of returns do you expect to get from renting ???

 

Im sure you're fully aware that if you Airbnb out rooms you may be up for partial CGT when you go to sell.

Be sure to keep all your Airbnb records when that time comes. I guess you will be anyway because you will be claiming all that income and paying tax on it.

That is of course that short term letting is also allowable.

pinkboy

 

Put a max. height restriction in your ads for tenants

 

Thanks @Westminster you are pretty much spot on. Hadn't thought about walk in robe for the small lounge area, so that's a good idea to think about. Ensuite, yes.

 

Imagine a bathroom with a whole wall of normal robes with the fireplace still there - very luxe

Or you could play some tetris and have some cupboards facing the hallway for linen storage, WIR and ensuite in the area.

 

Double (eg. a Couple) $60-70 per night. Single person, $40, maybe $45 per night.

 

Nice @Gockie, based on what you said re X km from uni and Y KM from city, I thought it was epping, came across this and thought this was it: 80 Norfolk Road Epping NSW 2121 - House for Sale #121303126 - realestate.com.au ... close but no dice!

Well done though, you're story is an inspiration to budding investors such as myself

 

That is a beauty... I go past it every day...

 

Will have to think about it! Anyway, no rush on this for the moment.

 

Ah but seeing your new PPOR, the character it has is absolutely sensational...#lifegoals (I dont normally use the hashtag, so it took me about 30 seconds to find it on the keyboard!).

 

I found the link to the property Gockie bought... nice place in the listing photos

@Gockie I know where you live, better have some KFC ready for the house warming

 

I gotta say though, Hunters Hill (peninsula side) and Woolwich area... omg!

But this is a better spot for me... 2 reasons... family is nearby and it simply works well for transport to most places.