Hi gang.
This is my first post.
I am looking at buying my second investment property, in the Ipswich area (4304, 4305). An interesting property is on the market only a stone's throw away from the University, close to transport links, shops etc. Its on a 825m2 corner block on a quiet street.
It's a 5 bed, two storey house with adequate parking.
There are 3 beds, a bathroom and a kitchen upstairs; and 2 beds, a bathroom and kitchen downstairs.
There is a shared laundry. There is one water, and one electricity meter.
The current owner is a builder, and has just finished a fitout with new kitchens x2, bathrooms x2, new carpet, wall paint, window furnishings etc.
Looks like he's keen to move on, and interest so far has been patchy.
The agent tells me it could be rented out as two separate dwellings for $190x2=$380, or as a single unit for $330.
However I question this - Doesn't one need council approval for dual occupancy to rent something out as separate dwellings, even though it's within the same house? (The floor plan is over 65m2, easy)
Also, when pushed the agent was a bit sketchy on details regarding approval - can someone tell me, if this builder has added a kitchen and bathroom downstairs without council approval, isn't that illegal? Will it cost me a lot of money to have certified? Could I be fined if they find out?
And finally, what sort of building certification (standards certification) should I be asking the builder for in regards to his renovations, and would that come with any sort of warranty?
Obviously, I don't expect that any approval has been sought, although the agent eluded to there possibly being a building certificate for plumbing.
If this is the case, surely this is a serious bargaining chip?
If I did buy this property, would it be worthwhile getting council approval for dual occupancy, splitting the meters etc, or would anyone suggest a "fly by night" strategy as employed by the current owner?
The alternative would be to let it as a single unit.
Or better still, get 5x uni students in there. Thoughts on this one?
This is my first post.
I am looking at buying my second investment property, in the Ipswich area (4304, 4305). An interesting property is on the market only a stone's throw away from the University, close to transport links, shops etc. Its on a 825m2 corner block on a quiet street.
It's a 5 bed, two storey house with adequate parking.
There are 3 beds, a bathroom and a kitchen upstairs; and 2 beds, a bathroom and kitchen downstairs.
There is a shared laundry. There is one water, and one electricity meter.
The current owner is a builder, and has just finished a fitout with new kitchens x2, bathrooms x2, new carpet, wall paint, window furnishings etc.
Looks like he's keen to move on, and interest so far has been patchy.
The agent tells me it could be rented out as two separate dwellings for $190x2=$380, or as a single unit for $330.
However I question this - Doesn't one need council approval for dual occupancy to rent something out as separate dwellings, even though it's within the same house? (The floor plan is over 65m2, easy)
Also, when pushed the agent was a bit sketchy on details regarding approval - can someone tell me, if this builder has added a kitchen and bathroom downstairs without council approval, isn't that illegal? Will it cost me a lot of money to have certified? Could I be fined if they find out?
And finally, what sort of building certification (standards certification) should I be asking the builder for in regards to his renovations, and would that come with any sort of warranty?
Obviously, I don't expect that any approval has been sought, although the agent eluded to there possibly being a building certificate for plumbing.
If this is the case, surely this is a serious bargaining chip?
If I did buy this property, would it be worthwhile getting council approval for dual occupancy, splitting the meters etc, or would anyone suggest a "fly by night" strategy as employed by the current owner?
The alternative would be to let it as a single unit.
Or better still, get 5x uni students in there. Thoughts on this one?