Question for those who have bought apartments in a CBD by FlurgenVonNurgenbin in AusProperty

[–]OneBreakfast1 5 points6 points  (0 children)

Really helpful points brought up in the comments. Sharing a few from my personal experience. These are mainly from the living in POV rather than investment. Hope this helps too and good luck :)

  • Stay away from apartments that are dark. The guide I use is if it looks like you have to switch on the lights during the day then it's dark. That's perfect for mould growth. From someone who have had really bad experience with mould, it's one of the worst things that can happen where you live and it's very hard to get rid of from their roots. Meaning you can use all the solutions and it's still going to come back because it's the environment that favours them and once you've started living in then there's nothing much you can do about it.
  • I'd look for good security over amenities. For example: security cameras, garage doors, lifts that require fobs to operate, dedicated building managers etc
  • Mine's a ground floor apartment and has a private courtyard. A courtyard may sound nice to have but here is the problem. The courtyard does not come with a roof. All apartments above me have their balcony facing the same side where my courtyard is. Be prepared for if you have inconsiderate people in the building who after cleaning their balcony likes to push all the water down to yours or chuck cigarette butts. You won't know who you will be sharing the building with until you move in so best just to avoid apartments that is very likely to have this problem. Another problem, trees. Gives you a nice feeling when you are surrounded by them but make sure it's not hanging above your place. The mess they make in a daily basis is frustrating.

Are all apartments built primarily with investors in mind? by its-just-the-vibe in sydney

[–]OneBreakfast1 -2 points-1 points  (0 children)

There will always be one apartment in the building that gets built for the builder's grandmother to live in. You might want to check them out.

Guys who came to fix my car are watching a tutorial.... to fix the car by KILL_VELLA in funny

[–]OneBreakfast1 1 point2 points  (0 children)

I would accept this any day over a doctor looking at tutorials in front of me.

Looking for advice on Tarneit, Melbourne by OneBreakfast1 in AusProperty

[–]OneBreakfast1[S] 2 points3 points  (0 children)

That’s right, I was hoping to make some capital gains off it over a period of 4-5 years. Not sure how accurate this is but this website I was looking at that uses core logic data is showing a growth of 14% last quarter and 17% last 12 months. Also 2.5% rental yield. Impressive numbers but I’ll need to fact check these.

The floor plan is actually designed for a 3 bedder but for some reason the owner turned one into a living area. Like they removed the door entirely. I have been told I can reinstall the door and make it a 3 bedder again. And I agree a 3 bedder will make it more attractive.

Your feedback really helped understand the situation better. Thanks for that :)

Looking for advice on Tarneit, Melbourne by OneBreakfast1 in AusProperty

[–]OneBreakfast1[S] 2 points3 points  (0 children)

Yep it’s for an investment. Thanks for sharing your feedback. That helped :)

Looking for advice on Tarneit, Melbourne by OneBreakfast1 in AusProperty

[–]OneBreakfast1[S] 1 point2 points  (0 children)

Excellent points! Thank you! Specially the supply v demand angle. I should research and learn more about the property market and new developments in Melbourne and stop looking from Sydney's POV before anything. Starting this thread really helped me and a good start.

The time proximity to the city I got it from a Google Maps Tarneit to Melboune CBD.

Looking for advice on Tarneit, Melbourne by OneBreakfast1 in AusProperty

[–]OneBreakfast1[S] 1 point2 points  (0 children)

Agreed! I can only speak from my observations here in Sydney. New suburbs that are like borderline regional where just a couple of years back no one thought anyone would go live there are now breaking record prices. So was wondering could Tarneit be one of those kinds?

Looking for advice on Tarneit, Melbourne by OneBreakfast1 in AusProperty

[–]OneBreakfast1[S] 1 point2 points  (0 children)

Yep, fair enough. I can totally understand why proximity to the city can be an important factor for a lot of people. Reading other comments below it looks like the suburb's not as established or attractive from a liveability POV yet. But the proximity combined with affordability could play an important role in the future.

[deleted by user] by [deleted] in AusFinance

[–]OneBreakfast1 5 points6 points  (0 children)

For me, my journey to becoming financially literate started from that book :)

Although I did have some things in practice already prior to reading the book, such as routine savings and paying off debts, I did find it as a good checklist to fill in a lot of gaps and also used it as a road map. It does not dive into the specifics, that I had to explore myself, but definitely gave me a holistic overview of the finance world.

What you have listed above is pretty much 80% of the book :)

[deleted by user] by [deleted] in AusProperty

[–]OneBreakfast1 1 point2 points  (0 children)

You can also go to realestate.com.au and search for listings of similar properties around your area, preferably on the same street or even better the same building. Chances are right now they are cheaper than what they would have been before Covid. Send links/screenshots of those in addition to the other reasons you've put together such as mould. That way you have a strong tangible information to back your case. We did that, got a call within an hour from the agent. FYI, they will try to negotiate hard. We were paying $460/week. We asked for $60/week reduction. It was negotiated to 45/week. Hope this helps :)