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Hello All, Please help me in choosing the right Surveyor - 1. Surveyor recommended by Architect. Got all the documents. Will issue the Building permits very quickly. May delay or cause issues during inspections as no past history with Builder. 2. Surveyor recommended by Builder. May...

Dirty little secret #1 There is an old adage among real-estate agents, ''quote 'em low and watch 'em go. Quote 'em high and watch 'em die"................................. The favourite tricks of real estate agents

Hello All, We have got Plans and Permits to build 3 Double Storey Units (1 x 3br, 2 x 2br) on a block of land. My question is how much does this adds Value to the property. Property Next door with exact area was sold for $620,000 last week without any development approval or any other sort...

Source: The Age NEGATIVE gearing is disappearing as a tax strategy for landlords, and it seems it won't be missed. Falling interest rates and rising rents over the course of the financial crisis have made it increasingly hard for landlords to make deliberate losses to offset their other income...

Is this Deal possible? Current Property Value - $670,000 (DA for 3 Units) Mortgage - $565000 Draw Equity based on current market value (LVR 95%) = 670,000 *.95 - 565,000 = $71500 (Less LMI) = approx $70,000 Later borrow 80% of $600,000 from Bank for construction of 2 Units without paying...

Hello All, How does one sub-divide a property and register under seperate Titles with Title Registration Office/Land Victoria? At what stage of development this happens? Who does this - Building Surveyor? What are the costs involved? Is the stamp duty is payable again? Thanks in...

Hello All, We have received DA to build 3 Units on the block. Now its stuck at the Engineering Department at the Council. The story goes like this: Stormwater Design-When engineer was drawing the Stromwater design, he asked me to check the StormWater Pit depth for the right calculations...

Hello All, We are organising our loan for a 3 Unit development. Just wondering, since we have already paid Stamp Duty on Title to Title Reg. Office (Land Victoria)when we bought the House (which will be demolished) and now will be sub dividing into 3 seperate Titles, will there be any Stamp...

Hello All, Please help me in finding a resonable Builder in Metro VIC for 3 unit development. I have contacted couple of builders but they are really expensive. Few quoted me $700,000 plus for such a development. The development is not huge, 3 double storey townhouses ...total build up area...

Hello All, As we are in the process of getting an approval for 3 townhouse development, i am just wondering if i can get some assistance as in rough estimate on building costs. What sort of $$$ per sqm for 2 double storey and one single storey? If we add a balcony, is it really expensive...

Hello All, I will start with our current situation: IP: Value (last valuation done by the bank in June 07) - $350,000 Re-financed and Mortgage (95%) - $332,500 Equity (as per last valuation) - $17,500 PPOR: Purchased in Aug 07 Purchase Price - $595,000 Mortgage (95%) – 565,250...

Hello All, I am just wondering if there is any Feasibility study template available for a property development. Are there any softwares available? The plan is to subdivide a block for 3 units development, one will be future PPOR and rest 2 will be investment properties. Thanks in advance.

I would like to wish the entire team & members of Somersoft and their family a very Happy XMas and a properous new year coming ahead. Ho Ho Ho :)

Hello all, I am just wondering how much one could borrow against the equity in PPOR or IP...for example: Value of a property when purchased - $400,000 Mortgage: $380,000 (LVR: 95%) Assumption: After couple of years: Bank Valuation: $600,000 Mortgage: $380,000 Equity: 220,000 Now how...

Pros and cons of selling the backyard Interesting article..talks about the increase in number of subdivisions in Melbourne and how neighbours are not happy :D

Hello to all, Just a bit concerned here..need an expert advice. Got an investment property in Berwick (-ve geared). Wondering, if its worth keeping it or sell it to buy in an area of more potential. This was our first home which we built and was PPOR for a year...emotionally attached :) Need...

Hello all, I've got a question regarding Capital Gains. 3 months ago, we bought a house in Ivanhoe for $595,000. Really old house, need a major reno but we bought it so as to develop in the future. Land 640sqm Last weekend, a house next door in a very similar condition was sold for...

Just wondering, how often can you get the banks to Valuate your IP so as to borrow against the equity. Last Valuation we had done on our IP was in May this year and borrowed against the equity.

Why there is such a big price difference within one Suburb ie; Ivanhoe? One side is selling for mid 650s and the expensive side is 1 million plus. Does the ripple affect takes place within the Suburb itself?

Hello All, We recently bought a property. Its an old house but the block is big and we are planning to demolish the house and put two new dwellings side by side. The architect i am talking to at the moment is charging me $9000 and he told me that there will be approx. $6000 Surveyor's fees...