Showhouses

Hi Guys,

Just a quick question. I know a few of you have bought while still been in the UK. I was wondering has anybody went down the route of buying one of the showhouses then the builders rent it back. Thought that might work for us to get on the property ladder before we get there and while the prices are still okay.

Any input or help would be appreciated. do you think its good move or stupid. (mind you not saying I wil run out and do it tommorow just a thought I need help with at the mo)

kimberley:biglaugh:

Hi,

We bought a house ready for our arrival, as we are on a PR visa we were able to do this hastle free. If you are on a temp visa you can still buy but have to do it as an investment or should I say "investment";). You will have to get FIRB (foreign, investment reveiw board) approval. You can then rent it out or live in it yourself. Compared to all the carry on we have here it's actually a very simple process over there. Whether it's a good idea is a matter of personal choice for us the decision was partly influenced by the fact that we were priced out of our first choice Perth in a matter of a few months and didn't want to risk it happening again.

Jen:)

Hi Guys,

 

Just a quick question. I know a few of you have bought while still been in the UK. I was wondering has anybody went down the route of buying one of the showhouses then the builders rent it back. Thought that might work for us to get on the property ladder before we get there and while the prices are still okay.

 

Any input or help would be appreciated. do you think its good move or stupid. (mind you not saying I wil run out and do it tommorow just a thought I need help with at the mo)

 

kimberley:biglaugh:

Hi. I am at the early stages of buying a property as an investment and have not yet got a visa, the company I am useing is http://www.monopolyrh.com/ and first impressions of them are very good, they can put you in touch with people to handle all aspects of the purchase, morgage, FIRB ect. They were recomended to me by Ian from Ianb on this site, who are at a more advanced stage, you can read his post about it here

http://www.pomsinadelaide.com/forum/showthread.php?t=1276

It seems a good way of getting on the Adelaide property ladder with out waiting to get there, and a good investment if you dont, (you will).

Simon

Hi Kimberley

Certainly seems like a fab idea sitting in the UK let me tell you. However, something which us Brits do not really bear in mind about property (well we did not anyway) is the size of the plot which the house sits on. I never even looked at this information on realestate and when you are here, and visit a house, you suddenly realise how small some gardens are compared to others. Also gardens might not be an important thing for others, but we wanted some run around area for the kids, space to build a swimming pool in time etc.

From the show homes we have seen, many of them are on very small blocks, giving you only a few metres at the side or back of you house.

It is really just something to think about in the grand scheme of things ....

Good luck

Sas:cute:

Of course you don't have to buy a show home necessarily, you could buy a slightly older property with a good plot and still rent it out privately, I believe the rental market in Adelaide is pretty hot at the mo.

Jen:)

Hi Kimberley

Certainly seems like a fab idea sitting in the UK let me tell you. However, something which us Brits do not really bear in mind about property (well we did not anyway) is the size of the plot which the house sits on. I never even looked at this information on realestate and when you are here, and visit a house, you suddenly realise how small some gardens are compared to others. Also gardens might not be an important thing for others, but we wanted some run around area for the kids, space to build a swimming pool in time etc.

From the show homes we have seen, many of them are on very small blocks, giving you only a few metres at the side or back of you house.

It is really just something to think about in the grand scheme of things ....

Good luck

Sas:cute:

Hi Sas

Yes that is one thing I have noticed the size of land on a showhome. Thought their offers were to good to be true. We like you want room for the kids. We have a big back garden here so would want atleast equal amounts there.

With a private rental I worry about what state the house maybe in when we eventually get there. (IF)

Thanks everyone for your input.

Kimber:goofy:ley x

We bought at auction over the phone have only seen photos of the property, but had some friends in adelaide that gave us advice and also a friend who works with banksa and watches the property market. We knew that we needed a property that had some thing that the likes of u and me wanted so we went for views, so we went to auction and 1 month later the property was ours. the house itself is a 4 bed, not particulary very pretty but has with a good size garden 834sq m in total. but the view over the sea is amazing.

Hi Soggy

This is something that we have been looking into and have just contacted Monopolyrh/com. Just out of interest where are you buying? As looking at the houses all look nice but do not have any idea where they are?

Thanks

Nicky

Hi Soggy

This is something that we have been looking into and have just contacted Monopolyrh/com. Just out of interest where are you buying? As looking at the houses all look nice but do not have any idea where they are?

 

Thanks

 

Nicky

Nicky,

Hi Nicky, i know i am speaking for Soggy but i put him onto the houses with Monolopy. The house we have got and where Soggy is looking is at Lakeside in Andrews Farm. I also see when we was there on our reccie a few weeks ago similar places are underway at Oakwood, (1/4 mile further north than lakeside also at Ocean View which is further South, but not sure how many left) We told Soggy to deal with Ben Howard from Monopoly as he has been excellent so far to us and from what Soggy has said so far the same to him. Just mention Ian from uk and im sure he will look after you the same as us both. By all means pm either Soggy for further info or me and i can send through some literature that got us started back in April that they sent to me.

Just wish i had commission!!

Thanks for the info Ian,

Hope you don't mind but just got a few questions

How far in either Ocean View or Andrews Farm away from the centre of Adelaide?

How far from the sea, and does it seem nice areas?

What sort of size gardens do they have and what advice would you give me into what sort of size to look for, not looking for a huge garden but we do have kids.

We applied for 136 visa in June we have sold the house and have the money in the bank so if we could buy before we get out it would be one less worry.

Thanks again

Nicky

Thanks for the info Ian,

 

Hope you don't mind but just got a few questions

 

How far in either Ocean View or Andrews Farm away from the centre of Adelaide?

How far from the sea, and does it seem nice areas?

What sort of size gardens do they have and what advice would you give me into what sort of size to look for, not looking for a huge garden but we do have kids.

We applied for 136 visa in June we have sold the house and have the money in the bank so if we could buy before we get out it would be one less worry.

 

Thanks again

 

Nicky

Hi Andrews farm is about 28km from center of Adelaide, about 30 minutes I beleive, Ocean veiw is about 45km from Adelaide it is at Sellicks beach the southern most part of Adelaide and about 45 minutes from center, I think I have just purchased the last house at Andrews Farm and I May have the last one at Ocean view too:embarrassed:, as the previous purcaser to me was interested in buying 4, although you could go direct to a builder on these sites but there are many pitfalls to going this.

The good news is at Oakwood park near Andy farm some will be available in November:)

I would just like to say that Monolopy have been great so far, I have been dealing with Ben and he must be good as I have just agreed to buy 2 houses on the other side of the planet in a country I have never been, there is no high pressure selling everything is about what you want, worth sending him an e-mail, include your phone number and mobile and he will call you for a chat.

Simon

Hi,

Could I ask a question please:wubclub:?

How do you get a mortgage when you don't have a job when you get to Adelaide????

We love this idea however are concerned as to the mortgage part, we will only have a modest deposit so would need a mortgage the same as we have here. Does anyone know how this would work??? :GEEK:

Thanks

Nikki

XXX

Hi,

 

Could I ask a question please:wubclub:?

 

How do you get a mortgage when you don't have a job when you get to Adelaide????

 

We love this idea however are concerned as to the mortgage part, we will only have a modest deposit so would need a mortgage the same as we have here. Does anyone know how this would work??? :GEEK:

 

Thanks

 

Nikki

 

Nikki,

 

 

XXX

You can get a mortgage providing you get FRIB approval which was harmles enough to us!.

You can then either rent the property out like we are for a short term lease till we get there and then move in. This is ok to do as well.

If you need an more info give us a shout and will try to help or email the guy i mentioned in post and say you know us and would like some more information about it and im sure he can give you all the info you need

Thanks Ian, (Again ,)

Ever Thought of arranging an ask Ian thread or forum !!?

What would we all do without You?

Yes we will e-mail the person you spoke of, Lee and I love the idea of having a new house to go to once we are out there, it will make things more stable for the children to have our own home!!

Thanks Again

Nikki

Thanks Ian, (Again ,)

 

Ever Thought of arranging an ask Ian thread or forum !!?

 

What would we all do without You?

 

Yes we will e-mail the person you spoke of, Lee and I love the idea of having a new house to go to once we are out there, it will make things more stable for the children to have our own home!!

 

Thanks Again

 

Nikki

Hi again,

another benifit of using this company is you know you are getting a house that is ready for occupation with no hiddern extras, the morgage is based on your UK earnings, you can get an 80% investment morgage and a 4 bed house for about $275,000 mabe less thats about £112,000, hope this gives you some idea of what to expect but talk to Ben he can answer all your questions.

Good luck

Simon

Does buying from here stop you getting the first home buyers grant thingy?

Also can you buy and start renting out before you get there? Can you get a buy to let mortgage on that principle, as you can here?

Planning to take over the world with an empire of buy to lets!!

Leanne & the drunken one in the corner.

Does buying from here stop you getting the first home buyers grant thingy?

Also can you buy and start renting out before you get there? Can you get a buy to let mortgage on that principle, as you can here?

 

Planning to take over the world with an empire of buy to lets!!

 

Leanne & the drunken one in the corner.[/quote

 

I think you will miss out on the $7000 first home thingy, as soon as the house is built you can rent it out, the company that Ian and myself are using find the tennants collect the money and pay it into the account the morgage comes out of, the sort the bank account and morgage too. you will need a 20% deposit plus a little bit.

 

Simon

absolute madness buying a house from the uk - we have been shocked at all the areas that look desireable from the realestate website photos - yep the house new builds albet smaller by far inside than older properties may still be nice to many but trust me they are crammed into ugly big estates with no plot size absolutely no character - a scar on the landscape when you see bulldozed expanses with charcterless treelless estates........whilst on the other side of the road you have older properties larger plots and a hell of alot more value ofr $ - however prices are rising and 12 months ago we rekon we cud be mortgage free now that looks very unlikely unless we go for a very modest small house in the outback

each to thier own of course but we have heared of many people regretting purchase - all my tick list of desireable places has been turned upside down.............

as for the travel times to the city double the estimates you read on forums and you will be alot closer to actual driving times - traffic is heavy for the last "20 minutes" which often takes 30 plus minutes if you catchmy drift......

cost of living here is no way cheaper, wages are alot less so earning $ is making the cost of living more expensive than the uk imho

as my w ife said anyone coming here / locals requiring a mortgage of over 50% is going to struggle financially unless you are earning a good salary (considered over $50k) and few are in s.a.

having said that the people are cool mofos - my mobile phone is full of contacts after 10 days and really the only people to avoid are the pierced t ypes who once lived in elizabeth and are driving instructors and grow weed in thier sheds

longer hours less pay make the ever increasing house prices less afordable - i dont t hink it is much different than the uk - so what im saying is dont kid yourselves up on the econmies - the lucky people are t hose that can become mortgage free the very lucky those who purchse two properties to rent out........which is driving t he prices up due to supply n demand...........

be realistic and dont be fed inaccurate - see for yourself

mart

absolute madness buying a house from the uk - we have been shocked at all the areas that look desireable from the realestate website photos - yep the house new builds albet smaller by far inside than older properties may still be nice to many but trust me they are crammed into ugly big estates with no plot size absolutely no character - a scar on the landscape when you see bulldozed expanses with charcterless treelless estates........whilst on the other side of the road you have older properties larger plots and a hell of alot more value ofr $ - however prices are rising and 12 months ago we rekon we cud be mortgage free now that looks very unlikely unless we go for a very modest small house in the outback

 

each to thier own of course but we have heared of many people regretting purchase - all my tick list of desireable places has been turned upside down.............

 

as for the travel times to the city double the estimates you read on forums and you will be alot closer to actual driving times - traffic is heavy for the last "20 minutes" which often takes 30 plus minutes if you catchmy drift......

 

cost of living here is no way cheaper, wages are alot less so earning $ is making the cost of living more expensive than the uk imho

 

as my w ife said anyone coming here / locals requiring a mortgage of over 50% is going to struggle financially unless you are earning a good salary (considered over $50k) and few are in s.a.

 

having said that the people are cool mofos - my mobile phone is full of contacts after 10 days and really the only people to avoid are the pierced t ypes who once lived in elizabeth and are driving instructors and grow weed in thier sheds

 

longer hours less pay make the ever increasing house prices less afordable - i dont t hink it is much different than the uk - so what im saying is dont kid yourselves up on the econmies - the lucky people are t hose that can become mortgage free the very lucky those who purchse two properties to rent out........which is driving t he prices up due to supply n demand...........

 

be realistic and dont be fed inaccurate - see for yourself

 

mart

All i can say is Muppetbro we HAVE driven from city to our house from city in 20-25 mins! The estate is NOT on a sprawling big estate!!!

Why do you constantly put things down that everyone else wants to do???? If you cant offer anyone anything other than critical comments as you obviously seem to have a very high opinion and seem to be constanly putting everything oz down may i ask actually why you want to live in Oz????

Originally Posted by muppetbro

absolute madness buying a house from the uk

as for the travel times to the city double the estimates you read on forums and you will be alot closer to actual driving times - traffic is heavy for the last "20 minutes" which often takes 30 plus minutes if you catchmy drift......

cant be any more insane than moving to the other side of the planet to a place you have never been to or only visited briefly, there must be a lot of mad people here, not sure of your maths on the second part of the quote.

enjoy your surfing

Simon

too true soggy lad........the surf is on hold but ive been "rooting" on the coastline -

be nice if people dont judge others for having an opinion ey?

over and out on forums for me - the pms are all i need to "root" around

ciao

other peoples opinions are just that, opinions, and their is no need to ram them down other peoples throats as if you are the only one who is right. Glad you have a load of contacts on your phon lets see if they last as long as your positive attitude:D.

to quote somebody else IMHO if you have gathered all your facts you should do what you think is right for you. I pearsonaly wouldnt be brave enough to do it but can see how much easy it would make life.

Good luck whatever decision you make I'm sure it will be right for you and if not at least youve tryed.

Thanks Everyone

Gots some great advice and alot more to think about.

I just can't wait:arghh:

Kimberley x

the lucky people are t hose that can become mortgage free the very lucky those who purchse two properties to rent out........which is driving t he prices up due to supply n demand...........(mupprtbro qoutes)

Excuse me for being...well er.. argumentative. but if there is a severe lack of available rentals, people buying two or more houses to rent out will obviously help ease this !! Thus making more rental properties available, will make less demand, and make prices more competitive!!!!

So its all good....Dude!!!!!!!!!!!!

could this be the end of muppet bro ......?