julie-ruth

Rent, Buy or Build

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    Just wondering people's opinions on this subject, I'm constantly comparing which is the best option for us, we are in rental at the moment which we find affordable but constantly keeping an eye on what is going on with the market, wondering which direction is the best to take next, could someone tell me what extra bits you have to pay for when you own a property that you don't renting?

     

    Julie

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    Council rates, water levy, murray darling levy, emergency services levy. Then theres stamp duty (one off payment, )blah blah blah.

     

    Look, the best thing is to work out what you can afford, where you want to be and the benefit of ownership vs rental. I am just about to buy, for family reasons, and feel like a destitute befor we even move:biglaugh:; the market is still fairly stable here, but there is no doubt the market trend is downwards on price; shop clever and bag a bargain, babe

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    Guest kangomik

    It's a case of bidding low and waiting. Things may settle after june on the lower end of the market.

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    Thanks for the advice but what I was after was people's opinions in general on each of the above, just wondering what choice's people are making and why, do people think it's a better time to rent, buy or build, to wait and see what the market does or go for it while there is still the high first time home owners grant.

     

    Julie

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    Guest cbeeb

    if you want in within 2 months buy. if you cannot see a suitable house build. The housing market will drop but have been told builders will be offering more and more incentives as recession bites here. Never an easy decision looking at a year to build and rent money in that time. but alot of the houses we have seen needed far too much work to be feasable. We have land but still not built as love where we are renting and land does not come up that often and house too much money to gut. Good luck, look at land and houses to buy and approach your bank it may clarify what you can borrow and up front costs

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    Guest kangomik

    your asking for the perfect answer, truth is no one knows.

     

    Go to golden grove an price up 600 m2, then travel down to seaford and price up 750m2.

    Then your home to your design, lets be honest if you want the plan you will want the upgrades.

     

    Buying established (used) is hit and miss, have you priced up a kitchen refurb alone?

    Let alone the rest of the bits you may want.

     

    Renting is cheap, depending on the size of mortgage you would be looking at. Place 3 years rent against a home mortgage at a 5% intrest rate over those 3 years. You would have paid a chunk off.

     

    lets face it, savings are earning nothing, not like 12 months ago when we arrived!

     

    So its back to your own answer, do you want own, rent or build your own...... do look into the overlap cash out lay when building, not to mention the area you build in.

     

    I hope this is a little more specific to you.

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    your asking for the perfect answer, truth is no one knows.

     

    Go to golden grove an price up 600 m2, then travel down to seaford and price up 750m2.

    Then your home to your design, lets be honest if you want the plan you will want the upgrades.

     

    Buying established (used) is hit and miss, have you priced up a kitchen refurb alone?

    Let alone the rest of the bits you may want.

     

    Renting is cheap, depending on the size of mortgage you would be looking at. Place 3 years rent against a home mortgage at a 5% intrest rate over those 3 years. You would have paid a chunk off.

     

    lets face it, savings are earning nothing, not like 12 months ago when we arrived!

     

    So its back to your own answer, do you want own, rent or build your own...... do look into the overlap cash out lay when building, not to mention the area you build in.

     

    I hope this is a little more specific to you.

     

    There are some good deals out there at the moment in house/land packages.

     

    Were hoping to get the go ahead to build our own place house and land total $322k...as long as you sign the builders contract you get the $25k home grant, not too sure as to how it works with purchasing an established place.

     

    Plus you only pay stamp duty on the land not the house when you build, thats one of the big reasons we have opted to build.

     

    hope this helps some.

     

    HG.

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    Guest sandar1

    There are some great buys out there at the moment and if you are going to stay, I would personally say to buy, especially while the grant is still in existance. The land tax is the biggest pain here in South Australia. Of course there are the rates and taxes and water etcetera, but in comparison to other countries in which I have lived they really are not that bad. I live in a house in the city (a victorian terrace) it would sell for about $600 and the rates on that are just under $1000 per year if that helps. But the city does offer assistance (up to a certain amount) for houses of heritage significance. With regards to building, when you are calculating the same add on one third to the cost for the other essentials, such as paths, gardens etc etc. With renting at the end of the day you are basically paying someone else's mortgage. Housing prices will definately go up, with all of the immigration into Adelaide and the boom which will hopefully occur with the defence contracts etcetera, there will need to be more people working in the state that are qualified for those positions. So personally I would buy.

     

    All the best no matter what you decide to do.

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    Guest sandar1

    I have two houses in the city to rent out for short term suitable for those coming on recie or till they find permanent accomodation. First one is single story two bedroom with loft, in Hallifax Street sleeps, fully furnished obviously, is two minutes walk to Hutt Street, and 4 minutes to Pultney Street. Would suit a couple of family with a couple of kids. The other one is a two storey heritage victorian, has two bedrooms but use second one as family room (suitable for couple or single only), also fully equipped. It is located on Carrington Street, and is also 2 minutes from Hutt Street, and two minutes from Pultney. We'll even leave all of the cleaning products etcetera for you. We are going on an overseas trip for five weeks beginning 28th July, or thereabouts and coming back beginning of September. Please contact me if you are interested in either of the houses. They are ideal for a new family moving to Adelaide, I take all of my clients who are relocating to Hutt Street, to get their banking etcetera done, free buses througout the city leave from there, you can walk into the main drag Rundle Street, and to the market. Everything you need is pretty much within 5 minutes walk.

     

    Also handy to immigration department and employment agencies should you need to be in touch with them.

     

    Anyway my phone number is 08 8232 2121 if calling from the UK 61 88232 2121 my work number 61 88237 0542.

     

    Sandra

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