What your offsprings think about your investing?

[Ocean Architect]

Can I send you round to my inlaws OA? They're in a fully paid off '70s house on a 900+sqm block in an area where 70's houses are worth $320-350k but if you knock one down and plunk 3 townhouses on, suddenly you've got three things worth $400-500k.

My money is on them never, ever doing it, and complaining ever after that they don't live in an $800k house in Burnside. While picking on us for living in the country. We the offspring can't sway them at all.

What, you want my blood pressure to go up? I have enough problems with my gang of gutless wonders

The trick is to get them excited about it though, and make it sounds super easy (it isn't super easy, the council will make you cry at least once a week) and get them to make baby steps in taht direction - since the house is paid off, they aren't losing money through interest etc so sway them to put plans in to the council "just in case" or "to improve the value of the land" (since land with good, approved plans is always worth more). Then after you get that done (in Adelaide with those beaurocrats on steroids, 6 months easy) start taking them to open inspections of gorgeous houses/get some quotes ffom builders etc and they mentally start spending the money/living in the new beautiful house in their heads, and then one day they might cave in and do it

Which area is this by the way? Sounds like the west side to me. I can't wait to move back to Adelaide by the way - so cruisy

 

[lizzie]

junior was only a bumped when i first started carting her around opens.

bought 2 while pregnant - another one at auction when she was 3 months old, and i had to excuse myself to a bedroom to change a poo-y nappy before signing the contract.

she's been trapsing around open homes every since - and loves renovating. they are also very handy at "opening cupboards". she is nosier than her mother!

now, at 8 years of age, she can't decide what her compulsary 1/2 pocket money savings is actually saving for - a house, a car or a horse.

although she is currently saving the spending 1/2 for a guinea pig - much to her father's despair.

 

[RumpledElf]

Which area is this by the way? Sounds like the west side to me. I can't wait to move back to Adelaide by the way - so cruisy

http://www.realestate.com.au/buy/in-newton,+sa+5074/list-2 that area, north east (they are a bit aspirational and like to describe themselves as just "East"). Although house prices appear to have gone up since I last looked, didn't see any of the old 70's houses on that list for less than $400k.

These are people who have done nothing (property wise, other than carpet the house blue) in the time that we have renovated two houses and (almost) built a third. But been talking about doing stuff that entire time though. Gets hollow after a while, although last time I checked they were "definitely going to build a townhouse in the backyard". Mmmhmm. Surprisingly, one of them does actually own half an investment property, but I wouldn't have known that since they never talk about it, and have no plans to get more.

 

[RumpledElf]

although she is currently saving the spending 1/2 for a guinea pig - much to her father's despair.

Mine had a rabbit - the thing did absolutely nothing besides sit in its cage and be a sick looking ball of dirty fluff and cost a small fortune in food cos child gave it either a cup of food a day (at $5 a box of food) or no food at all and the birds ate most of it so the rabbit was skin and bones. Got eaten by a dog in the end. She's currently banned from pets more substantial than frogs.

I did finally work out the trick to get her to do jobs for money - just don't let her know how much she has - so she has quite a bit saved now and may be able to get into a place of her own when she hits 18. But I can't see her ever being a true Scrooge. Eg she wanted to blow all her savings + more on a mountain bike. A bit of probing stopped that one, it seemed the only problem with her current, perfectly adequate bike is the colour. Nothing a trip to an auto shop for a $5 tin of spraypaint won't fix, but she had absolutely no idea you could change the colour of a bike despite living in a household full of renovators who use PAINT ...

 

[Ocean Architect]

http://www.realestate.com.au/buy/in-newton,+sa+5074/list-2 that area, north east (they are a bit aspirational and like to describe themselves as just "East"). Although house prices appear to have gone up since I last looked, didn't see any of the old 70's houses on that list for less than $400k.

These are people who have done nothing (property wise, other than carpet the house blue) in the time that we have renovated two houses and (almost) built a third. But been talking about doing stuff that entire time though. Gets hollow after a while, although last time I checked they were "definitely going to build a townhouse in the backyard". Mmmhmm. Surprisingly, one of them does actually own half an investment property, but I wouldn't have known that since they never talk about it, and have no plans to get more.

I know the area, having lived in Joslin and Holden Hill for a while Good potential up there imo

Eh don't worry about them then. Something about a horse, leading it to water and all that jazz