Elizabeth, North Adelaide, SA
- Thread starter orcades
- Start date
Hi Velli
I actually have not visited the place yet, but I am sure about the condition of the house and its features. For that I looked all the info about the house in net, talked with agent in detailed, asked every question I feel liked to ask, organised building and pest inspection, talked in detailed with inspector. And make up my mind.But I am planning to visit the place soon for my satisfaction.
Thank you very much.
Suraj
I actually have not visited the place yet, but I am sure about the condition of the house and its features. For that I looked all the info about the house in net, talked with agent in detailed, asked every question I feel liked to ask, organised building and pest inspection, talked in detailed with inspector. And make up my mind.But I am planning to visit the place soon for my satisfaction.
Thank you very much.
Suraj
Hi Sash
I started to have interest in property investment since 2004. But only recently I came to conclusion that property investment is worth doing it. Does the property investment help you make money? does property price grow up in value? It is a big question and a lot of people still argue like it is just a paper money, some says too much hastle and after paying tax we get nothing, what happens if interest rates goes up, recession etc. But researching about 4 year came to conclusion that property prices goes up in value over a time period, there is no doubt. It is the best thing to do. But we should be ready for long term investment.
Therefore now I started to invest in propety.
Thank you.
Suraj
I started to have interest in property investment since 2004. But only recently I came to conclusion that property investment is worth doing it. Does the property investment help you make money? does property price grow up in value? It is a big question and a lot of people still argue like it is just a paper money, some says too much hastle and after paying tax we get nothing, what happens if interest rates goes up, recession etc. But researching about 4 year came to conclusion that property prices goes up in value over a time period, there is no doubt. It is the best thing to do. But we should be ready for long term investment.
Therefore now I started to invest in propety.
Thank you.
Suraj
Here it is if anyone's interested http://www.realestate.com.au/cgi-bi...header=&cc=&c=84486400&m=1&s=sa&tm=1215678595
Suraj,
I find $195pw quite high in terms of each rental....the one I have at Elizabeth North is immaculate, renovated, and in the Rosewood estate, it only gets 175pw. It will go to 180pw later this year which is the top rent.
Based on my knowledge rents in Davoren Park are similar. Also at 335k for both you are paying 167.5k for each semi...which seems to have a bit of a premium...probably because you are getting a 1200sqm future development site.
Personally if I had 335k, I would buy a house closer in for 335k within 8-12klms of Adelaide. Otherwise you could pick up a house in Elizabeth with subdivision potential for 200-220k.
Please due your own due diligence.
Might also want to ask SteveAdl about the deal as he is the man on the ground in Adelaide.
I find $195pw quite high in terms of each rental....the one I have at Elizabeth North is immaculate, renovated, and in the Rosewood estate, it only gets 175pw. It will go to 180pw later this year which is the top rent.
Based on my knowledge rents in Davoren Park are similar. Also at 335k for both you are paying 167.5k for each semi...which seems to have a bit of a premium...probably because you are getting a 1200sqm future development site.
Personally if I had 335k, I would buy a house closer in for 335k within 8-12klms of Adelaide. Otherwise you could pick up a house in Elizabeth with subdivision potential for 200-220k.
Please due your own due diligence.
Might also want to ask SteveAdl about the deal as he is the man on the ground in Adelaide.
Suraj,
I find $195pw quite high in terms of each rental....the one I have at Elizabeth North is immaculate, renovated, and in the Rosewood estate, it only gets 175pw. It will go to 180pw later this year which is the top rent.
Based on my knowledge rents in Davoren Park are similar. Also at 335k for both you are paying 167.5k for each semi...which seems to have a bit of a premium...probably because you are getting a 1200sqm future development site.
Personally if I had 335k, I would buy a house closer in for 335k within 8-12klms of Adelaide. Otherwise you could pick up a house in Elizabeth with subdivision potential for 200-220k.
Please due your own due diligence.
Might also want to ask SteveAdl about the deal as he is the man on the ground in Adelaide.
A point that should probably be pointed out - the land is not 1200m2. It's about 1068m2 give or take a couple meters. The frontage is 28m and depth is 37m. Hard to say as there are always different methods and ways around things with the council, but the block doesn't look like it will fit anymore than 2 new detached dwellings on it. Although you may be able to put a detached house and a new semi pair on there down the track.
Sorry, not trying to be a downer, just something to be aware of.
Talk to me guys-I need estimated costs of new kitchen, new vanity and tiles on side of bath, polishing floorboards and repairing/replastering sections of some walls for this one (is that daylight coming through the wall or a reflection?). Walls also appear cracked in places.
http://www.realestate.com.au/cgi-bi...der=&cc=&c=8699336&s=sa&snf=ras&tm=1215741338.
I was considering Elizabeth about 2 years ago. At that time you could pick up a similar property for as low as 110k (maybe in Elizabeth North).
I would do all the easier stuff-like painting.
Done up what would it rent for?
Ajax
http://www.realestate.com.au/cgi-bi...der=&cc=&c=8699336&s=sa&snf=ras&tm=1215741338.
I was considering Elizabeth about 2 years ago. At that time you could pick up a similar property for as low as 110k (maybe in Elizabeth North).
I would do all the easier stuff-like painting.
Done up what would it rent for?
Ajax
Ajax, semi's will rent for around the $160-180pw level now, however if it's done up with a new kitchen, bathroom etc you may even be able to swing $200pw. I'm also expecting rents to continue to rise for a while yet.
As for reno costs, sorry mate got NFI! The only thing I can help with is floorboards - I had 4 rooms done in my Enfield place last Oct. for $1,100 (knocked down from the agreed $1,400 on completion for cash) including removal of the old carpet. They were brilliant, started on Sat. and were finished Monday arvo. From memory they were Russian, let me know if you want their details.
As for reno costs, sorry mate got NFI! The only thing I can help with is floorboards - I had 4 rooms done in my Enfield place last Oct. for $1,100 (knocked down from the agreed $1,400 on completion for cash) including removal of the old carpet. They were brilliant, started on Sat. and were finished Monday arvo. From memory they were Russian, let me know if you want their details.
Thanks Steveadl,
If I proceed I will pm you. Unlikley at this stage though am itching for a new project.
I've had floorboards done in an old terrace in Sydney a long time ago. Polished kauri floorboards added many $ value to the house...nextdoor neighbour saw what I'd done and copied. I recall that most floorsanders charged quite reasonably but the quality of the work varied...ended up getting a second lot in to redo the boards in one room (to cut more black tar out).
Ajax
If I proceed I will pm you. Unlikley at this stage though am itching for a new project.
I've had floorboards done in an old terrace in Sydney a long time ago. Polished kauri floorboards added many $ value to the house...nextdoor neighbour saw what I'd done and copied. I recall that most floorsanders charged quite reasonably but the quality of the work varied...ended up getting a second lot in to redo the boards in one room (to cut more black tar out).
Ajax
Know what you mean, we've got baltic pine and it looks great. Makes the place look much more modern when going to rent out. Going to do it to my other Enfield place once the vendor moves out before I let it.
My parents decided to do it at our old house years back. Ripped up a corner of the carpet and were pleasantly surprised to find beautiful jarrah underneath - looked brilliant once done.
My parents decided to do it at our old house years back. Ripped up a corner of the carpet and were pleasantly surprised to find beautiful jarrah underneath - looked brilliant once done.
As is a broadbrush figure:
1. Kitchen as follows:
-Small flatpack kitchen from Bunnings - $1800
-Kitchen tap and sink - $300
-Stove, underbench owen, rangehood - $1000
-Labour (plumber, electrician, kitchen installer) - $1000
2. Bathroom
-New vanity & taps - $300
-White tiles - $300
-Labour - $700
3. Polishing floors - $1200
4. Painting and replastering - $2000
So total is about $8800.....
1. Kitchen as follows:
-Small flatpack kitchen from Bunnings - $1800
-Kitchen tap and sink - $300
-Stove, underbench owen, rangehood - $1000
-Labour (plumber, electrician, kitchen installer) - $1000
2. Bathroom
-New vanity & taps - $300
-White tiles - $300
-Labour - $700
3. Polishing floors - $1200
4. Painting and replastering - $2000
So total is about $8800.....
Hi adelaide north invester
Hi every one, whats happening arround adelaide north suburb? is market is slowing down or picking up due to first home buyers grant and low interest rate at the moment? The property I bought 6 months b4 is now cash flow neutral due to low interest rate and higher yield. Do you guys think it is better to buy more property as arround norther suburbs like elizabeth, north, south, grove, davoren park, salisbury etc? appreciate your comment.
Suraj
Hi every one, whats happening arround adelaide north suburb? is market is slowing down or picking up due to first home buyers grant and low interest rate at the moment? The property I bought 6 months b4 is now cash flow neutral due to low interest rate and higher yield. Do you guys think it is better to buy more property as arround norther suburbs like elizabeth, north, south, grove, davoren park, salisbury etc? appreciate your comment.
Suraj
Hi Suraj, I think my areas of interest are a little closer to town than what you are looking at but they are going very strongly. Land prices are holding up at $190k+ and development potential dwellings are going for $350k+. My points of interest are Windsor Gardens, Hillcrest and Northgate which I think present better future value than out further.
Where did you end up buying? Glad to hear it is now neutrally geared (as it should be).
We signed some building contracts the other day but are now wondering what the Fed Budget will contain regarding Home Building Grants. Interesting times ahead if you own developent sites. I'm still looking for more at <$350,000 within 8km of the CBD. Can't go wrong I believe.
All the best,
Gools.
p.s. I expect Steveadl to come along shortly and tell you about how strong his patch is.
Where did you end up buying? Glad to hear it is now neutrally geared (as it should be).
We signed some building contracts the other day but are now wondering what the Fed Budget will contain regarding Home Building Grants. Interesting times ahead if you own developent sites. I'm still looking for more at <$350,000 within 8km of the CBD. Can't go wrong I believe.
All the best,
Gools.
p.s. I expect Steveadl to come along shortly and tell you about how strong his patch is.
Hi Suraj
Seems like you have similar posts in both the Elizabeth and Melton threads.
Well, I have IPs in both places (as do a few investors here) and both suburbs are quite different in many ways but rental yields have been good.
If I was buying, I would prefer to diversify between the states, so Melton/VIC or even Sydney is what I would consider. Think Western Sydney is offering good rental yields at this stage.
My 2 c worth.
Good luck !
Seems like you have similar posts in both the Elizabeth and Melton threads.
Well, I have IPs in both places (as do a few investors here) and both suburbs are quite different in many ways but rental yields have been good.
If I was buying, I would prefer to diversify between the states, so Melton/VIC or even Sydney is what I would consider. Think Western Sydney is offering good rental yields at this stage.
My 2 c worth.
Good luck !
We signed some building contracts the other day but are now wondering what the Fed Budget will contain regarding Home Building Grants. Interesting times ahead if you own developent sites. I'm still looking for more at <$350,000 within 8km of the CBD. Can't go wrong I believe.
All the best,
Gools.
p.s. I expect Steveadl to come along shortly and tell you about how strong his patch is.
Yeah I'm with Gools on this one, I'd be looking closer to the CBD now, in particular I like Enfield/Clearview/Blair Athol. You checked out much in these areas Gools?
Up north prices still seem to be fairly strong and rents continue to amaze me so all good, but we've got enough up there now. If I was buying now (which we're not) it would be closer to the CBD.
Prices are coming down in Adelaide. I would look closer to city. I put an offer on a 1 bedroom unit in small block at Parkside (2K or less from city) and it was $16K less than the lower end of asking price. The owner considered it but went for a better offer which was only slightly higher than my offer.
Arriety, can I ask how much you offered? I don't follow 1 bedder units much but wanting to know just out of interest.
Steve, if I had some spare capital I would certainly be looking in your area but can't just yet. The new Gepps Cross Home Maker Centre will do wonders for this part of town. It's the biggest Home Maker Centre in Australia I think. They'll need people to work there will be strong rental demand in the area as you would well know.
Gools
