great thread...
my family and i were also considering investing in a unit in a retirement village.
something like one of these.
we are not really that concerned about capital growth as we thought it could stay in the family.
the best advice i got when i bought my first home was to speak with a mortgage broker.
i highly recommend it.
do your own research and find one that works with a lot of lenders. i first went with mortgage choice, but now i am with a private broker.
my first loan was with betterchoice...
It sounds like a good buy Lachlan...however I am no expert...merely a beginner myself.
If the unit is near good schools, your target market might be families or single parents looking to send their children to one of these schools but unable to afford to buy in the area...
Have you made an offer?
Without knowing the property I'd be very surprised that it has only gone up in value by 12k. That is not saying that it hasn't.
I'd say they would at least want to get what they paid for it...
Maybe speak to another agent in the area and find out what they think it...
Ideally, you should submit your offer and make it subject to an approved building and pest inspection.
I wish I had followed my own advice. ;)
http://www.ljhooker.com.au/ask-lj-hooker/about-buying/pest-and-building-reports
Hello,
My husband and I own a Californian Bungalow.
We are currently renovating it.
The property is located in a Heritage Overlay.
Does this mean that any work we do to the property we require a council permit?
my parents are in their 70s and they have just started to talk about retirement villages and the possibility of moving to one. i highlight the word 'talk', because that is all they are prepared to do.
however, it is quite a breakthrough. they have been in their house for almost 50 years and...
in lj hooker's real estate magazine it says that kitchens and bathrooms are the two main rooms that a potential buyer looks most closely at and an extra bathroom adds more value than a bedroom...
great that you've decided to do both...sure to add value for resale or rent.