Buying a House

[Pag]

Well after buying a house which we move into next Friday our current house is now on the market.
Just putting it out there incase there is anyone looking to buy in Balaklava.
I don't beleive in putting 10% on top of what I'd take, then negotiating down, so I've priced it to sell!
http://www.realestate.com.au/property-h ... -108826436

Do you have a floor plan MC? I know one of our pet hates when looking at properties online was having no floor plan to look at before an inspection.

Na we don't unfortunately. The house was built in about 1930ish so even the Council wouldn't have one on file.
Definately agree with you that it would be a good idea though.

Ah, that's a pain.

Done very well with your new place though, congrats.

[smac]

Well after buying a house which we move into next Friday our current house is now on the market.
Just putting it out there incase there is anyone looking to buy in Balaklava.
I don't beleive in putting 10% on top of what I'd take, then negotiating down, so I've priced it to sell!
http://www.realestate.com.au/property-h ... -108826436

Do you have a floor plan MC? I know one of our pet hates when looking at properties online was having no floor plan to look at before an inspection.

Na we don't unfortunately. The house was built in about 1930ish so even the Council wouldn't have one on file.
Definately agree with you that it would be a good idea though.

Ah, that's a pain.

Done very well with your new place though, congrats.

The RE Agent could have one made up for about $100 from memory. We had it done with our last place which was of a similar age.

[Psyber]

Thermaloc:
A new issue to watch if buying a fairly new house or building: http://en.wikipedia.org/wiki/Polystyrene

Fire hazards
Like other organic compounds, polystyrene is flammable. Polystyrene is classified according to DIN4102 as a "B3" product, meaning highly flammable or "easily ignited."[citation needed] As a consequence, although it is an efficient insulator at low temperatures, its use is prohibited in any exposed installations in building construction if the material is not flame-retardant.[citation needed] It must be concealed behind drywall, sheet metal, or concrete.[citation needed] Foamed polystyrene plastic materials have been accidentally ignited and caused huge fires and losses, for example at the Düsseldorf International Airport, the Channel tunnel (where polystyrene was inside a railcar that caught fire), and the Browns Ferry Nuclear Power Plant (where fire breached a fire retardant and reached the foamed plastic underneath, inside a firestop that had not been tested and certified in accordance with the final installation).[citation needed]

When you add in the toxicity off the fumes when this stuff is burned at lower temperatures, as in a fire, I can hardly believe it is allowed as a construction material.

[mighty_tiger_79]

Just a small bump.

So in the last week the house the Mrs was renting when we met just sold. It's a basic old 70s set up. The house itself is nothing, but sits on 695m block, so looks like a knock-down Job. $410k

House behind us sold in the last week and was marketed at $369/$389 again it's nothing flash and same size block as above. Just waiting for the demolishers to roll up now.

Prices have seemingly jackpotted... or I've been under a rock

[stan]

Just a small bump.

So in the last week the house the Mrs was renting when we met just sold. It's a basic old 70s set up. The house itself is nothing, but sits on 695m block, so looks like a knock-down Job. $410k

House behind us sold in the last week and was marketed at $369/$389 again it's nothing flash and same size block as above. Just waiting for the demolishers to roll up now.

Prices have seemingly jackpotted... or I've been under a rock

Market is massively up at the moment.

[Booney]

Just a small bump.

So in the last week the house the Mrs was renting when we met just sold. It's a basic old 70s set up. The house itself is nothing, but sits on 695m block, so looks like a knock-down Job. $410k

House behind us sold in the last week and was marketed at $369/$389 again it's nothing flash and same size block as above. Just waiting for the demolishers to roll up now.

Prices have seemingly jackpotted... or I've been under a rock

You'd get $360k for the rock mate.

[heater31]

Just a small bump.

So in the last week the house the Mrs was renting when we met just sold. It's a basic old 70s set up. The house itself is nothing, but sits on 695m block, so looks like a knock-down Job. $410k

House behind us sold in the last week and was marketed at $369/$389 again it's nothing flash and same size block as above. Just waiting for the demolishers to roll up now.

Prices have seemingly jackpotted... or I've been under a rock

You'd get $360k for the rock mate.

Round the corner from ours a place sold for over 700k. Which is 300k over what we paid for our place that needed some major work. Absolute shitbox inside kitchen hadn't been updated for probably 70 years apart from the stove/oven. Structurally the house is sound. Just needs some serious updating.

Surveyor was immediately on site and I was scratching my head why they would pay that much if the were to knock it over. This month a medium sized excavator show up and pushes over everything but the house. New owner is renovating and updating the place.

[Corona Man]

Prices in Melbourne are just stupid…

We bought our place 12 months ago.

Last week very similar property just around the corner sold for about 25% more than we payed for ours.

We have done a bit to our joint so far too. Plantation Shutters throughout, new deck, garden shed to go in. Still to do a small kitchen Reno, along with a built in bookcase in the hall and I’d like a built in desk/bookcase in my home office. Then we’re done…. That will add some good value to our property.

A month ago place 5 or so doors down, albeit 1 more very small bedroom (study really) and large rear balcony…. Sold for just under 1 Million!

[Brodlach]

Same here, next street over after 12 months they got $165k more and didn’t do anything to the house, in fact the garden looked far worse (they only moved/sold due to a work transfer).

[The Dark Knight]

Just a small bump.

So in the last week the house the Mrs was renting when we met just sold. It's a basic old 70s set up. The house itself is nothing, but sits on 695m block, so looks like a knock-down Job. $410k

House behind us sold in the last week and was marketed at $369/$389 again it's nothing flash and same size block as above. Just waiting for the demolishers to roll up now.

Prices have seemingly jackpotted... or I've been under a rock

Market is massively up at the moment.

It's astonishing and obviously good if you're already in the market and wanting to eventually sell but it must be getting harder and harder for people to get into the market now?

Houses in my local area in Largs North (where all houses would be no more than 8 years old) have sold in the last year for at least low to mid 500k to now even mid 600k.

The house next door to me is up for sale (it's currently rented) and the asking price is at least $600k.

[mighty_tiger_79]

Just a small bump.

So in the last week the house the Mrs was renting when we met just sold. It's a basic old 70s set up. The house itself is nothing, but sits on 695m block, so looks like a knock-down Job. $410k

House behind us sold in the last week and was marketed at $369/$389 again it's nothing flash and same size block as above. Just waiting for the demolishers to roll up now.

Prices have seemingly jackpotted... or I've been under a rock

An update of sorts

The 1st house at $410k was over $100k as to what it was listed at

Sent from my SM-G781B using Tapatalk

[Keefy]

Just a small bump.

So in the last week the house the Mrs was renting when we met just sold. It's a basic old 70s set up. The house itself is nothing, but sits on 695m block, so looks like a knock-down Job. $410k

House behind us sold in the last week and was marketed at $369/$389 again it's nothing flash and same size block as above. Just waiting for the demolishers to roll up now.

Prices have seemingly jackpotted... or I've been under a rock

An update of sorts

The 1st house at $410k was over $100k as to what it was listed at

Sent from my SM-G781B using Tapatalk

A couple of houses near me have just sold.

One had a price of 420-460, went for 551 and the other was priced for 450-490 and went for 548k

Both on blocks similar size to mine, but smaller living space

Sent from my SM-G973F using Tapatalk

[Footy Chick]

Im refinancing and had mine valued yesterday - at around , mid 400s.

I still think that's conservative as I've seen houses on around the same amount of land go for around $500k

[Dutchy]

Im refinancing and had mine valued yesterday - at around , mid 400s.

I still think that's conservative as I've seen houses on around the same amount of land go for around $500k

Its a bank valuation, banks are conservative.

[LaughingKookaburra]

The Southern Metro part of Adelaide (Marion, Mitcham, West Torrens and Holdfast city councils) in particular are just going absolutely nuts in the past 6 months. Auctions are getting massive prices based on the influx of buyers from the Eastern States who are buying and investing in huge numbers. Had our house evaluated as part of refinancing and it’s increased by over 30% in the banks eyes in 12 months. Simply astonishing….

[locky801]

House opposite us went on the market for auction, owner wanted around 900k for it, ended up going for 1.25 mill, some ridiculous prices at the moment

[Dutchy]

Feel sorry for a house across the road from us, was on the market for 6 months last year and couldn't move it, ended up selling about a month before the market went bang

[Booney]

Money is cheap, the prices at the moment are unsustainable.

[am Bays]

Similar experience

We still have our house in Sheidow Park. Brought it 5 years ago for a tick under $540K (5&2 700 block).

Two months ago house 3 doors down 3&1 half our block advertised $390-410K went for $490K.

Houses similar to ours are going with 7s&8s in front of them. Ours is slightly dated but still still reasonably contemporary.

Was valued at$604k last year when brought up but I would be expecting $650 K minimum now. It’s goi g nuts up here too, we brought 4 weeks into the market moving.

Speaking with family we heard about 3 bedroom houses in Melrose Park being advertised at 800-900k but going for $1.3 Mill.

Kicker for how nuts is when we went home and visited recently our house we discussed how nuts it is she produced the kicker: “I never thought I could ask $360/week for a three bedroom house in Huntfield Heights.

One of the theories behind the current demand and increase in prices is that there has been less movement between states with Covid so the supply to the market is down.

But agree with everyone it is bat shit crazy ATM

[Dutchy]

Adelaide has been considered under valued for a while, is going to be one of the better places to live, the big cities are going to be less attractive. Add that to SA people in VIC/NSW moving back with plenty of cash in their pocket and can earn that same here in Adelaide now. Those that were thinking of selling have brought forward their plans to cash in.

Low interest rates assist, but so do the lack of deposit interest, there fore those sitting on cash are now forced to look elsewhere to get a return and property is one that can get you 3-4% min.

Also while retail & hospo have been impacted, more businesses have benefited from COVID than been affected so economy is going OK.

Interest rates will rise next year and that will slow things and put some pressure on the eastern states, be little impact here.