house buying (1 Viewer)

[beccaxx]

anyone bought or planning to buy soon a house?

my parents are kinda buying one 4 me as an investment. i am way way stoked!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! i think i hav told some of u this already on msn.... but yeh!

neways, house buying tips ne1?

 

[funniboi]

i highly recommend you do the following!

make sure you do a full building check..
and have proof if you having one.

also buy house insurance,
landlord insurance and every kind of insurance possible..

its better to have it, then not -- and having to fork out bulk money from ur own pocket at one time to fix up things.

so yeah. but mainly, just do a building check (you have to in order to get the loan from the bank, if ur getting one, but do another one just in case) and the insurance.. MUST GET!

 

[hiphophorray123]

ah my mum wants me to buy this unit outright in melbourne as investment, but i dont want too ahh its a great contridiction you always dream of having alot of money but when you do you have no idea on what to do with it i shoulda paid more attention in economics lol

 

[fatmuscle]

all i can say is you people are damn rich.

If i bought a unit now, i'd be tied down for the next 30-50 years.

 

[Atticus.]

its funny to see becca say stoked

 

[beccaxx]

huh? i say stoked all the time in rl.

 

[tomorrows_angel]

wow... wish my parents would do something like that for me!!
btw are you going to furnish it and rent it out with furniture? or not?
i guess that depends on the area.

if i were buying something like that i'd go for an apartment in a holiday resort, you furnish it, but it's all looked after by the company, and you can spend time there too, because it's not a long term lease to someone.

though the amount of money you can make would vary seasonally, and you may have a fair bit of time when it wouldn't be rented.

then again, you're looking at houses...

*wishes to win lottery or have parents do something like that*

 

[Not-That-Bright]

all i can say is you people are damn rich.

If i bought a unit now, i'd be tied down for the next 30-50 years.

I agree, I come from a fairly wealthy family but they'd never just give me an 'investment'. I don't see why you people bother learning, If I had enough money to buy an investment house at this age -- OUTRIGHT -- I'd just buy it, and use the equity to buy more/live off.

Honestly tho I don't know how many people tell me that their parents are buying them an "investment property", It sounds like a slight bit of BS to me... excuse my cynical mind.

 

[tomorrows_angel]

I agree, I come from a fairly wealthy family but they'd never just give me an 'investment'. I don't see why you people bother learning, If I had enough money to buy an investment house at this age -- OUTRIGHT -- I'd just buy it, and use the equity to buy more/live off.

yeah... that was my plan. live at home and work to get a deposit for a unit, rent the unit and let it pay itself off, and build an investment portfolio that way. If your parents won't pay for this, then the easiest way to do it is to live at home. Unfortunately this won't be an option for me, with parents wanting to kick me out. *sigh*

i know someone who's done this. he lived with his parents till he was in his late 2o's, but now he has millions of dollars worth of property. and he's just a hairdresser in an ordinary salon.

 

[doe]

i know lots about this

tips:

go for the house with the biggest block of land you can afford
make sure its close to shops/transport (ideally walking distance)
make sure the rent wont be too high (more people can afford $200/week than $400/week)

any q's ask away

 

[Toodulu]

hey becca yeh ditto i'm in the same sort of situation. i'm renting in sydney by myself for most of the year so if i can find the right house then my parents will get it for me.

what sort of house/area are you looking at?
i figured 2 bedroom and 2 bathrooms and hopefully two storeys and a yard that's not too high maintenance + close to transport. also want it to be a house cos i've been living in apartments and the costs are just too high, we were paying a few grand every year to HUHQ? or whatever they're called.

i wanted it to be lower north shore, but the only places i can find are artarmon and chatswood west.

 

[shady_03]

I agree, I come from a fairly wealthy family but they'd never just give me an 'investment'. I don't see why you people bother learning, If I had enough money to buy an investment house at this age -- OUTRIGHT -- I'd just buy it, and use the equity to buy more/live off.

Honestly tho I don't know how many people tell me that their parents are buying them an "investment property", It sounds like a slight bit of BS to me... excuse my cynical mind.

u shouldda bought urself into a communications degree at UTS

 

[beccaxx]

lol. my parents arent BUYING it 4 me.

u get a 1st home buyers grant off the gov of 8 grand, and my parents r puttin in the rest of the deposit. houses in newy are significantly less i would guess than in sydney. thanks doe, thats the kinda advice ive been gettin off other ppl too.

my family isnt uber rich, they just no how to help with investing. it isnt bs, they hav helped friends of ours (a young married couple) buy a house, and since the house went up in value the couple paid my parents back and now own their own house.

and they figured if they could help them, why dont they try help me too.

 

[funniboi]

all i can say is you people are damn rich.

If i bought a unit now, i'd be tied down for the next 30-50 years.

i'm in the same boat as you, or maybe worse, since i'm unemployed. :S

 

[fatmuscle]

funniboi: work hard, get a good job that you like but pays well, and you will show us how to do it
large mansion coming your way

 

[Just A Lil Bit]

lol. my parents arent BUYING it 4 me.

u get a 1st home buyers grant off the gov of 8 grand, and my parents r puttin in the rest of the deposit. houses in newy are significantly less i would guess than in sydney. thanks doe, thats the kinda advice ive been gettin off other ppl too.

my family isnt uber rich, they just no how to help with investing. it isnt bs, they hav helped friends of ours (a young married couple) buy a house, and since the house went up in value the couple paid my parents back and now own their own house.

and they figured if they could help them, why dont they try help me too.

I dont think u get $8000 off cause its an investment property u have to live in the unit/house to get the buyers grant. I think...

 

[_Bushra_]

I think its a great idea if you have heaps of $$$
Since i paid for my mums and my tickets to India/Kuala lumpar etc after the HSC I only have $397.94 in my St george account and 5g in my ING account

(Its upsetting cus I was aiming to save 10g by the time i turned 18)

 

[beccaxx]

5 g is a hectate more than wat i own.
and yeh u can still get the 8 grand

 

[kimi]

My friend wants to buy a place cos she thinks its cheaper that way than rent? Shes only turned 18 last week though and im not sure if this is a good idea because she's so young. Shes also just recently unemployed. And to pay off the morgage- shes going to let me rent and one other person. Would it be actually cheaper than renting- cos than the money paid for rent would actually be paid towards the house? Im confused, and i dnt want her to be in any financial situation.

 

[7th Sign]

my mate parents purchased all 3 kids in the family units so they would get out of the house quicker lols.....but he is lucky to get a 400 thousand unit just given to him with out worrying about paying for it. In the next 5-10 year bracket I am hopeing to look into purchasing an investment property, and get a tenant in their to pay of the loan. Another one of my mates parents own a block of 8 units and they are mega rich they have just finished paying of the 8 units in total and are getting around 300 a week of each unit, after all the wekely expenses are paid their walking away with around 2000 a week with out even going to work. My parents have alot of friends with investments such as this where they have 4 + investment properties and they are all paid off, Its is not fair how like 20-30 years ago investment properties on the gold coast were sooo cheap and my uncle purchased around 4 now he only goes to work like 1 or 2 days and lives of the rent.