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  • Con:
    Trying to find someone to rent a larger house in the current economic climate.
    People are having trouble renting out a cheap house.
    Last edited by Halo_2; 13-06-2017, 11:23 AM.
    "Some people are like clouds. When they disappear it's a beautiful day"

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    • Originally posted by Pk View Post
      Capital gains tax. Your Principle Place of Residence is pretty much the only investment you can get tax free. If you decide to rent it out, the period of which you leased it will be factored into your tax free amount (ie your tax free amount is portioned to the number of years you have it rented)
      That depends on how long it is rented out for. You can rent out your PPOR for something like seven years before you need to calculate any sort of capital gains tax, I believe.
      Click here to see my Ducati 999R in the PSB garage... You'll love it!

      Don't click here to see my ZX9R aka The Ginger Ninja... there's no link!

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      • Howdy brainstrust,

        Wondering if anyone on here is, or can recommend, a building inspector. For a new house construction handover.

        Sent from my SM-N915G using Tapatalk

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        • Originally posted by BJMac View Post
          Howdy brainstrust,

          Wondering if anyone on here is, or can recommend, a building inspector. For a new house construction handover.

          Sent from my SM-N915G using Tapatalk
          I had one of my soon to be neighbours recommend these guys.

          "Joshua Briggs

          Director
          Master Building Inspectors
          Registered Builder # 101288

          P: 1300 852 496 / M: 0415 237 273
          E: [email protected]
          W: www.masterbuildinginspectors.com.au
          PO Box 6249 Swanbourne WA 6010"

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          • Originally posted by Halo_2 View Post
            Con:
            Trying to find someone to rent a larger house in the current economic climate.
            People are having trouble renting out a cheap house.
            I rented a place for over $400 p/w - a few caveats, it was the only one willing to do a short-term (4 month) rental and accept dogs so we couldn't be fussy. Probably overpaid by about $20

            It now rents for mid-$300's

            20% drop

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            • Originally posted by Halo_2 View Post
              Only problem is when you get feral tenants that trash the house/not pay
              Met a bloke recently..He had agents "looking after" his investment property. The tenants left the joint owing him 6 months rent..

              The agents did SFA about it...I wonder if the agents got their cut?

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              • Originally posted by datsikk View Post
                Met a bloke recently..He had agents "looking after" his investment property. The tenants left the joint owing him 6 months rent..

                The agents did SFA about it...I wonder if the agents got their cut?
                Unlikely. My experience is that the agents take 'their cut' from the incoming rent. No incoming rent == don't get paid.
                Interestingly, when I got paid by my insurance for loss of rent after evicting a belligerent non paying tenant, the agent expected to be getting his percentage of that too.
                To be totally fair, he did do the work to get the tenant evicted, so I let it slide.
                It is only money, after all.
                Originally posted by mekon
                Why are pirates called pirates?
                Because they Arrrrrr

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                • I'm wondering, how much does it cost to move house?
                  Say, for argument's sake that we sell our house for $400k and buy one for $500k.
                  What sort of typical costs are we looking at - agents fees (to sell), inspections, government fees, etc? Any 'hidden' costs people never think of until later? Probably wouldn't need removalists as we wouldn't be going far and that's what mates are for, right? :-)
                  I'm not saying let's go kill all the stupid people, I'm just saying lets remove all the warning lables and let the problem sort itself out...
                  - Sarcasteacher

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                  • Do you have lots of equity, I would estimate about 160K in debt for trading up... I’m sure someone could work it out.
                    "Some people are like clouds. When they disappear it's a beautiful day"

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                    • So would that be 100k for the house + 60k for 'fees & charges'?
                      I'm not saying let's go kill all the stupid people, I'm just saying lets remove all the warning lables and let the problem sort itself out...
                      - Sarcasteacher

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                      • Yer

                        There is also talk of interest rate rise coming, something you should also consider.
                        "Some people are like clouds. When they disappear it's a beautiful day"

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                        • Originally posted by shaynus View Post
                          I'm wondering, how much does it cost to move house?
                          Say, for argument's sake that we sell our house for $400k and buy one for $500k.
                          What sort of typical costs are we looking at - agents fees (to sell), inspections, government fees, etc? Any 'hidden' costs people never think of until later? Probably wouldn't need removalists as we wouldn't be going far and that's what mates are for, right? :-)
                          Agent fee is the biggest one ~$6-10k ish. IMHO a genuine good agent is worth paying for, but ymmv.

                          Buyer pays stamp duty, pest and building inspection - you may have some hidden costs if anything comes up in those.

                          Edit (inspections that is- not Stamp Duty! )

                          Assuming the house has only been your main residence, CGT wouldn't apply (but that can be a huge hidden cost if applicable)

                          Loan costs - particularly if you happen to be in a fixed rate.

                          Obviously you pay for Stamp Duty on the new place - about $17k on an established $500k home, or about $7k if you build (assuming land and build at $250k each)

                          ...

                          Other thought to consider: obviously it's a buyer's market at the moment, although the recovery probably isn't ages away.
                          If you can buy the $500k home now but hold on to the $400k property for better market conditions, you could potentially get the best of both, and that could far outweigh agent's fees etc.

                          Quite a few of our clients have done just that over the past few months, but naturally you'd need to be comfortable to hold the old home as a rental.

                          Sent from my SM-N950F using Tapatalk

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                          • Originally posted by shaynus View Post
                            So would that be 100k for the house + 60k for 'fees & charges'?
                            I would think equity of ~$130k would let you sell, buy if you wanted to avoid LMI. ($17k SD, ~$8k agent fees, and a buffer of ~$7k for part rates, water, minor repairs etc)

                            Could move with substantially less, but that would likely involve LMI.

                            Sent from my SM-N950F using Tapatalk

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                            • Buy on the first rise, sell on the first fall.

                              Buy, buy, buy!!!



                              What has skewed this graph?

                              Higher end sales?

                              Should have the salespeople frothing.
                              They hung a sign up in our town "If you live it up, you won't live it down"-Tom Waits

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                              • Apartment across the road sold quickly at auction last week for 660 but the owners took a bath after buying for 700 in 2014. Comparable was the next door identical apartment 640 in 2011.

                                Things are moving again if they are priced right.
                                The crux of the biscuit is the apostrophe.

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