My bank manager has just had my house revalued and I'm happy with the amount. Whilst it is modest compared to gains in Bris/Syd/Mel etc I think it's good for Cairns.
I bought the house really run down and in major need of a clean and some TLC 2 yrs ago in Jan for $89k - I think this was the cheapest house in walking distance from the CBD. I absolutely hated it and that was meant to be my home but it had good bones - I at least had a bit of vision.
It is now worth $140k in the eyes of the bank valuer and I've spent approx $15k doing it up and most of this was by myself. I had a sparky put the split systems in and new fans and a builder replace the shower/bath and retile. The rest was all my own (sometimes) blood, (always) sweat and (occasionally) tears.
I distinctly remember sitting on my floor a few times covered in paint or filth thinking that I was mad for taking this on by myself b'cos my friends had their boyfriends to help. I decided that I wasn't going to wait for Mr Right and at least I have a lot of new skills. I survived and now I can use a few power tools and build gardens from scratch and even put in irrigation systems!
I've learnt how to paint, be on first name basis with the boys in the hardware store, deal with rat infestations, dodgy tradesmen, drive a car with a trailer (and reverse), found the dump, mastered the art of airless spraypaint guns, move 3 m3 of dirt and 6m3 mulch (beer looks good by 10am), how to clean years of filth out of the oven and grout and know when to stop (that was the best lesson).
I had had enough by the end but now I've had 8mths in a flat in Drwn recouperating (read partying).
So that's my story and a small milestone for me. This was my first go at investing and if I had stuffed up it wasn't too expensive. The rent I get is great so no complaints there.
I figure if I can do it anyone can. I'm ready for the next challenge - bring it on.
Ecogirl
I bought the house really run down and in major need of a clean and some TLC 2 yrs ago in Jan for $89k - I think this was the cheapest house in walking distance from the CBD. I absolutely hated it and that was meant to be my home but it had good bones - I at least had a bit of vision.
It is now worth $140k in the eyes of the bank valuer and I've spent approx $15k doing it up and most of this was by myself. I had a sparky put the split systems in and new fans and a builder replace the shower/bath and retile. The rest was all my own (sometimes) blood, (always) sweat and (occasionally) tears.
I distinctly remember sitting on my floor a few times covered in paint or filth thinking that I was mad for taking this on by myself b'cos my friends had their boyfriends to help. I decided that I wasn't going to wait for Mr Right and at least I have a lot of new skills. I survived and now I can use a few power tools and build gardens from scratch and even put in irrigation systems!
I've learnt how to paint, be on first name basis with the boys in the hardware store, deal with rat infestations, dodgy tradesmen, drive a car with a trailer (and reverse), found the dump, mastered the art of airless spraypaint guns, move 3 m3 of dirt and 6m3 mulch (beer looks good by 10am), how to clean years of filth out of the oven and grout and know when to stop (that was the best lesson).
I had had enough by the end but now I've had 8mths in a flat in Drwn recouperating (read partying).
So that's my story and a small milestone for me. This was my first go at investing and if I had stuffed up it wasn't too expensive. The rent I get is great so no complaints there.
I figure if I can do it anyone can. I'm ready for the next challenge - bring it on.
Ecogirl
