r/AusPropertyChat

Developers (Carbon Property Group) have inevitably bought the 5900m2 site to build an apartment complex. It's zoned LMR so it should be limited to 4 stories.

Will they try and get an exemption to build higher knowing how chummy the Crisafulli Government is with Developers?

How is everyone keeping up with rent increases? Are you downsizing or moving to less desirable areas to stay afloat?

Partner and I have been approved for a mortgage of 900k on our second home - will be our PPOR. 1 dependent with stable gov jobs with pre tax income of 190k that will go up to 220k over the next 3 years. We have no loans, no credit cards, don't eat out, shop at Aldi etc. Has anyone been in a similar situation with a similar mortgage? If so how tight was it?

My parents are looking at buying an investment property seeing as Perth prices are somewhat slowing down at the moment (and we live in perth), and then selling it to us in a few years at break even value. We cannot afford to buy right now as we can’t borrow enough, but hopefully that changes in a few years and we’re then able to buy this property at its purchase value rather than market value (assuming that prices increase again). If the market dips again in a few years they could always just keep it as an IP I suppose and we look elsewhere.

Does anyone have a rough idea of things to consider/look out for with this sort of transaction? Things like CGT, stamp duty, transfer duty, going about the mortgage etc etc. Thanks everyone.

I like to do a post every little while to get community feedback.

My focus this year has been:
- getting group directed hostilities under control.
- enforcing stricter boundaries for soliciting and promotion.
- preventing the news spamming that was coming from a few accounts.

I’d be interested to hear what you think is working in the group, what’s not, and anything you’d like to see improved moving forward.

Partner and I are looking at buying in Melbourne (we’re currently in QLD) and found a few listings we’re interested in. Some are fairly new but my concern is that my favourites are built in very early 2000s (in Caravel Ln, Docklands and Whiteman St, Southbank).

Are the ages of these buildings a concern? Should we just narrow our search to newer built buildings?

We’re obviously going down to physically inspect but keen to hear others’ thoughts while we’re still in this research phase.

Edit: this is going to be our forever home

Hi everyone,

We’re looking at buying a place in Sydney (FHB) and trying to work out the best location.

The situation is office is in Macquarie Park and the school is in Hurstville. So ideally we’d like to live somewhere that is reasonably convenient for both, rather than being too far towards one side. School commute will be in bus/train and will be taking car to office.

We’re looking to buy rather than rent, so things like family-friendly suburb, transport, amenities, safety and long-term value also matter.

Would love to hear from people who actually live around this corridor — where would you buy if you were in our situation or which suburb would you prioritise? Budget around 1.3M

Any suggestions or suburbs we should be looking at (or avoiding) would be greatly appreciated. Thank you.

been keeping an eye on a few pockets around the middle/outer ring (toongabbie, blacktown, kellyville ridge etc) and noticing a pretty distinct pattern with failed auction campaigns lately.

a property goes to auction, passes in, and the vendor stubbornly lists it as private treaty at some inflated early-2025 price expectation.

but instead of holding firm forever, i'm seeing a bunch of them hit the 80 or 90 day mark and suddenly the guide gets quietly slashed by 100k+. just watched one in toongabbie that held out at 1.6m since may and finally surrendered, dropping to the low 1.4m mark this week.

seems like the holding costs and interest rates are finally starting to bite, or they just get sick of doing open homes every saturday for 3 months straight with no offers.

curious if anyone else is seeing this delayed capitulation on the ground right now or if it's just localized to the west/north-west?

I purchased my first home at the end of 2020 during the covid pandemic at auction for 725k, 20k over the range. I was desperate at the time due to personal circumstances.

Since the purchase I have spent around 20k replacing plumbing, heating, gutters, kitchen benches and cupboards as things break and need to be replaced. I know I need to reno the bathroom, cosmetically it looks OK, but I know the boards are rotten inside.

The house is 2 story and also on a very steep incline with a flight of stairs to the house which I was initially OK with. 6 months ago I injured by back in an accident and I am finding the stairs and maintenance too much and am thinking of selling to get a flat block.

Purchasing another a new house will cost 100k-200k more than my house is currently and in this current market my house is worth 700k at best. The neighbours house just sold for 670k to give me an indication.

Should I sell now and buy a forever home on a flat block when the market is slow? Or wait until it picks up at some other time in the future and deal with the sloped block for a few more years?

The mistake of buying a sloped block that needed things to fix is killing me inside.

Can someone please explain the strategy to me?

I’ve seen apartments listed on realestate.com when my ‘house’ filter is firmly ‘on’ multiple times. Once would be misfortunate, several times looks likes carelessness.

Do REA think that people looking at houses will suddenly be inspired by an apartment? That seems a very high risk approach, but maybe I’m missing something.

I've been thinking about this since the budget was announced and also based on what I'm seeing online and hearing from people in real life (Melbourne).

I'm hearing that lots of buyers are waiting to buy due to uncertainty, waiting for it to dip more, waiting for a better season (spring) etc... My question is, if everyone is waiting for a better buying opportunity, doesn't it just mean that when that opportunity comes along there will be more competition and more of a chance to still pay more to win?

It feels like a catch 22. Prices come down, more competition, more chances to pay more to win. Isn't the more appropriate strategy to buy when you can rather than trying to time the market?

I am a Florida condo (USA) owner looking into NSW's strata system. I'm hoping to speak with a long-time strata owner or current/former strata committee member about what works, what doesn't, capital works funds, strata managers, special levies and government oversight. Would like to have a much better understanding of your system.

I’ve contacted multiple builders and received 4 quotes so far, 2 have quoted at the lower end, 2 at the higher end, with a difference of 600k between them.

I’ve given identical scope and finishes down to which model floors, appliances, tiles etc. All selections specified, all suppliers specified.

Any insight into how they’re so far apart other than one having a higher profit margin? They’re all in a similar league in terms of company size.

Hi everyone, I am trying to find out if the 2% deposit Help to Buy scheme has limits on using it like 5% deposit fund. Specifically, I can't find anything regarding how "often" you can use it - I want to purchase a cheaper apartment and eventually move to a bigger one.

I understand with the 5% scheme, you can't use it more than every 10 years after ceasing to own a property. Is there a similar limitation to the 2% scheme aswell?

Coming up for retirement so looking a chill place with mountains and lakes