Hi all,
As a long time forum member I think it will be Ok to post this on the forum. Yes - it is an advert, but no different to any "buyer beware" situation when you buy real estate.
The thing is. its time to sell our much loved home in NICHOLLS ACT. This is the one where, back in 2009, I spent months renovating the Granny flat to then rent out. You can see the results of the Granny flat Reno by searching for my photos in the Gallery. The reno was the only images I ever posted to the photo gallery. There are also a couple of threads about it.
As an investment property you'd go a long way to find something with better returns. The flat was eventually rented. The last rent paid was $380pw a few months ago when we vacated it to put on sale. I'm told it could easily fetch $400 now.
The main house (the one we were living in), recently received a brand new Kitchen, new carpets, a complete reno on the Laundry and downstairs bathroom and a complete coat of paint. The PM quoted us a rental figure of $650 - $670. So based on a potential rental of $1050pw, and a Sale Price of $769,000 we get a gross rental return of over 7.1% which I think is pretty OK these days. Think of it this way - $1050 per week is a full time job for many people.
It's a pretty good growth area with schools, shopping centres, bus connections and parklands all very close.
I would love to keep it as an investment, but the reason for the sale is that we have moved to QLD and short of holding a gun to our brokers head, no one will lend us a cent to buy something here as the NICHOLLS property is heavily mortgaged. So she has to go and unfortunately I have to take a step backward before I can move forward.
You can view the house here:
http://www.allhomes.com.au/ah/act/sale-residential/1-quist-place-nicholls-canberra/1316819574311
All questions welcome.
Best wishes
Pedro
As a long time forum member I think it will be Ok to post this on the forum. Yes - it is an advert, but no different to any "buyer beware" situation when you buy real estate.
The thing is. its time to sell our much loved home in NICHOLLS ACT. This is the one where, back in 2009, I spent months renovating the Granny flat to then rent out. You can see the results of the Granny flat Reno by searching for my photos in the Gallery. The reno was the only images I ever posted to the photo gallery. There are also a couple of threads about it.
As an investment property you'd go a long way to find something with better returns. The flat was eventually rented. The last rent paid was $380pw a few months ago when we vacated it to put on sale. I'm told it could easily fetch $400 now.
The main house (the one we were living in), recently received a brand new Kitchen, new carpets, a complete reno on the Laundry and downstairs bathroom and a complete coat of paint. The PM quoted us a rental figure of $650 - $670. So based on a potential rental of $1050pw, and a Sale Price of $769,000 we get a gross rental return of over 7.1% which I think is pretty OK these days. Think of it this way - $1050 per week is a full time job for many people.
It's a pretty good growth area with schools, shopping centres, bus connections and parklands all very close.
I would love to keep it as an investment, but the reason for the sale is that we have moved to QLD and short of holding a gun to our brokers head, no one will lend us a cent to buy something here as the NICHOLLS property is heavily mortgaged. So she has to go and unfortunately I have to take a step backward before I can move forward.
You can view the house here:
http://www.allhomes.com.au/ah/act/sale-residential/1-quist-place-nicholls-canberra/1316819574311
All questions welcome.
Best wishes
Pedro