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Housing Bubble thread.

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nealo    1,275

I do agree that people have massive debt but I am seeing in the Melbourne Market less and less properties for sale hence higher prices but more and more doing renovations.

 

That's me.

 

Great I'll get $1.1-$1.2m and happy to spend $1.3-$1.4m but then there's the whole buying/selling costs plus a massive $60k to the govt for nothing!

 

Living in a place I like I'd rather put that in to my house.

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roxii    3,944

 

That's me.

 

Great I'll get $1.1-$1.2m and happy to spend $1.3-$1.4m but then there's the whole buying/selling costs plus a massive $60k to the govt for nothing!

 

Living in a place I like I'd rather put that in to my house.

 

 

Im still trying to talk the Mrs into taking the money and moving to Qld now that the house is new and clean and undamaged.

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Cottoneyes    738

A big internet mogul like yourself should have at least 4 houses by now Roxii

 

Good tax write offs, one in Port, one in Busso, one in Cairns, and one in Noosa

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Parkside    722

 

That's me.

 

Great I'll get $1.1-$1.2m and happy to spend $1.3-$1.4m but then there's the whole buying/selling costs plus a massive $60k to the govt for nothing!

 

Living in a place I like I'd rather put that in to my house.

 

This is exactly our position. I would ideally like to trade up to something with an extra bedroom and bigger bedrooms, but would be in same boat as Nealo and can't justify the extra cost and changeover expenses. Love our current position and think we will pour a bit more on the mortgage to landscape/plunge pool/deck the yard etc.

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roxii    3,944

A big internet mogul like yourself should have at least 4 houses by now Roxii

 

Good tax write offs, one in Port, one in Busso, one in Cairns, and one in Noosa

 

:lol:

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Ex-Hasbeen    3,753

 

 

Im still trying to talk the Mrs into taking the money and moving to Qld now that the house is new and clean and undamaged.

Just don't let them know you're from Cronulla as you cross the border. I've heard the extra searches get a little personal. :)

 

Edit to add: If you'd made the move last week you could have been supporting a winning team on Thursday.

Edited by Ex-Hasbeen
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Mjainoz    1,029

I'm on the market. Not buying for now.

If history repeats, when I make a move like this the market will run hard for a few years after, and I miss 25pct plus (happened twice now.) but surely not this time ...

 

Thinking ... rates is US will go up. Aussie will follow suit. Banks are at capital adequacy limits re their housing loan books. And it looks like Labor is a chance at next election and will bring in some calming legislation ( hopefully smarter than stamp duty removal- what moron failed economics there ...)

Edited by Mjainoz

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Peter    1,547

That's me.

 

Great I'll get $1.1-$1.2m and happy to spend $1.3-$1.4m but then there's the whole buying/selling costs plus a massive $60k to the govt for nothing!

 

Living in a place I like I'd rather put that in to my house.

we are the same. Just spending 200k fixing my place love the location. 6 minutes to work. 12 to cbd. Cross one street to great coffee shop.

 

But living thru it sucks shit. 4 weeks to go.

 

Plaster goes on next week. And new kitchen on Friday.

 

Then bathroom and other stuff after.

 

It will be worth it when done. Well I keep telling myself that.

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Peter    1,547

Photos. The amount of dodgy building issues we have come across is crazy. The roof wasn't even attached to 3 of the 4 walls. And this is a 11mtr by 7 mtr room. Builders were shocked we have never lost the roof.

 

So much for getting building inspections.

 

54de9849e268fa549b687c0010278545.jpg

 

4e167a3442a1ee1bfd9a3695e37bd82a.jpg

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roxii    3,944

Builders were shocked we have never lost the roof.

 

 

Its allright that ALMOST never happens :lol:

 

Although it is a good way to get some cheap renovations done.

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goughy    1,968

 

 

Photos. The amount of dodgy building issues we have come across is crazy. The roof wasn't even attached to 3 of the 4 walls. And this is a 11mtr by 7 mtr room. Builders were shocked we have never lost the roof.

 

So much for getting building inspections.

 

Had a customer who had a similar thing. Bought a house and was getting into massive renos when they found the roof was just resting up there, the weight of the tiles holding it down.

 

Who'd they buy the house from? Local builder who built it himself!

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roxii    3,944

 

Its allright that ALMOST never happens :lol:

 

Although it is a good way to get some cheap renovations done.

And can be good chance for national exposure of the Transitions logo

 

6eb1530abb4c9e6c3b44f298f47fe750.jpg

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oldschool69#2    124

As some of you know im a builder and some of the shit ive seen over the years amazes me!

Mostly the home owners diy type its crazy!

Ive never advertised in my life only my sign up on the actual job site.i dont have websites with all the flashy pictures bla bla and ive never been out of work and currently booked out for a year and a bit in advance. Also from my house the furthest job ive travel too in the last 8 years has been about 4km ranging from waterfronts to a bathroom reno.

 

So the moral to my dick swinging is if your looking for a builder where ever you may live go for the one with the old ute who is physically on the tools working dosn't advertise much and has always had jobs of word of mouth and ring a client from a few years back they built for and see what they say if you want a reference.

 

Now onto the bubble definitely reno if you like the area why pay 100k just to move to another house with the possibility of shit neighbours etc makes better financial sense .

Or if your in Sydney cash out and go and live life and dont be a salve to the bank...lol

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TryTriB4Forty    640

I bought a new house last year - house was 2 years old when we bought it.

 

My dad was a builder (retired after he finished the ark). So me and dad crawled all over the place before we bought it. I also got all the plans and inspection details etc from someone I knew at Council....

 

Before we bought ee also had a very thorough building inspection done by a guy who used to be a building inspector, but now runs his own show doing building and inspections for purchasers.

 

Now the building itself is solid. Very well put together.... but there is a lot of the ancillary stuff that is just crap. These were things I can fix myself at minimal cost but .... holy jesus some people are dodgy

 

Examples include the last 5 metres of stormwater pipe that I found about 3 inches below the footpath turf..... it then dives 3 feet once inside the property to meet up with the stormwater pipes from the house (yep, water was meant to flow up hill for the final 5 metres to the street ... (fixed for the total cost of $100 worth of new PVC and an hour worth of digging new trenches)

 

Retaining wall (only a little one) that had posts about 10 inches into the ground. (fixed for about $150 with some new timber sleepers from Bunnings - used all the old stuff for garden edging)

 

Landscaping that consisted of a trailer load of gravel and a couple of cactus looking things....

 

A front fence (similar to pool fencing) where they obviously cut one piece too short and just taped it together with electrical tape .....

 

I've fixed 99% of the little things but there were so many (insignificant, stupid little things) that were done dodgy

Edited by TryTriB4Forty

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oldschool69#2    124

Well we are committed to going out of sydney.

Ive been a bit nervous etc this week with everything happening  re selling thinking will any one turn up etc .

Realestate agent was confident 

Well farrk me 62 groups of people came through it was a record first off open house for them .

If the bubble is slowing I can't see it.

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oldschool69#2    124
10 minutes ago, Rocket Salad said:

If it looks like a housing bubble.....

http://www.abc.net.au/news/2017-03-24/australian-property-bubble-if-it-looks-and-sounds-like-it/8383380

Sell it oldschool.

You might look like the smartest guy in the room by the end of the year.

 

Mate have you seen me ! That would be a miracle! 

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Ex-Hasbeen    3,753
14 minutes ago, Rocket Salad said:

If it looks like a housing bubble.....

http://www.abc.net.au/news/2017-03-24/australian-property-bubble-if-it-looks-and-sounds-like-it/8383380

Sell it oldschool.

You might look like the smartest guy in the room by the end of the year.

 

 

1 minute ago, oldschool69#2 said:

Mate have you seen me ! That would be a miracle! 

All depends on the room mate. :)

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oldschool69#2    124

I guess if its just me and the kids in the room ive got a slight chance ..gone for all money though if they start talking I pads smart phones apple tv!

Ps ill be hitting  you up Hasbeen on best bang for buck mowers soon.. as I have NFI!

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BarryBevan    590

were' all gonna die, house prices will crash, keep going up stay the same. Every second week a major news outlet will quote an expert saying one of those things. They do anything except look at the long term trend which is about all that matters.

 

land and housing supply consistently lower than that needed, interest rates historically low, wages staying flat

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Ex-Hasbeen    3,753
2 hours ago, oldschool69#2 said:

I guess if its just me and the kids in the room ive got a slight chance ..gone for all money though if they start talking I pads smart phones apple tv!

Ps ill be hitting  you up Hasbeen on best bang for buck mowers soon.. as I have NFI!

You'll absolutely love it OS. I've been on semi-rural for the past 24 years now (other than when renting while the last house was being built), and can't imagine going back to a suburban lifestyle. Whilst we are kind of suburban, with neighbours fairly close, you still have heaps of room and lots of privacy if you want.

I have the best of both worlds I suppose, with Brisbane CBD only a 27km ride/drive away, but I suppose you Sydney folk would be paying a few Million for 1.5 acres that close in.

 

How big a block are you looking at OS?

Edited by Ex-Hasbeen
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oldschool69#2    124

Haha there ain't acerage that close to sydney its or duplex duplex duplex now!

So to tick our boxes we would like 3_5 acres and close to the coast ive gota be near the ocean possible bigger if suits but realistic what am I gunna do with 100 acres ! 

So small acerage with a lot of room around it and views .

We are looking in the Milton area to tick our boxes .

My brother inlaw lives in Malany ? Sunshine coast love it up there too and way more bang for buck on property but just didn't sit well Driving 45 min to basically crowded shitty beach breaks.

So south coast is us!

I said to the wife this morning we are now going to be a 1% that actually has the balls to pack up and leave a beautiful home shit load of work and all the rest and follow the heart.

And have you ever heard a 1% regret it ! They all love it .but I hear alot of older guys saying wish I had of done that 20 years ago!

If you wanna have a sticky beak at our place for sale go to realestate.com 

Caringbah 2229  8 Drake ave click on the video to have a look .

Edited by oldschool69#2
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skel    215

Gosh, do you use all those ovens......lol.  I have one and the smallest size, but manage to cook 3 things at once!!!!!  Very nice though.  Sorry didn't win lotto last night. :huh::D

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IronmanFoz    624
1 hour ago, oldschool69#2 said:

Haha there ain't acerage that close to sydney its or duplex duplex duplex now!

So to tick our boxes we would like 3_5 acres and close to the coast ive gota be near the ocean possible bigger if suits but realistic what am I gunna do with 100 acres ! 

So small acerage with a lot of room around it and views .

We are looking in the Milton area to tick our boxes .

My brother inlaw lives in Malany ? Sunshine coast love it up there too and way more bang for buck on property but just didn't sit well Driving 45 min to basically crowded shitty beach breaks.

So south coast is us!

I said to the wife this morning we are now going to be a 1% that actually has the balls to pack up and leave a beautiful home shit load of work and all the rest and follow the heart.

And have you ever heard a 1% regret it ! They all love it .but I hear alot of older guys saying wish I had of done that 20 years ago!

If you wanna have a sticky beak at our place for sale go to realestate.com 

Caringbah 2229  8 Drake ave click on the video to have a look .

Very nice....

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IronmanFoz    624
8 minutes ago, skel said:

Gosh, do you use all those ovens......lol.  I have one and the smallest size, but manage to cook 3 things at once!!!!!  Very nice though.  Sorry didn't win lotto last night. :huh::D

Just remember ...its in the shire..... :)

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