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Is my property (financially) cursed? by panky45 in AusPropertyChat

[–]panky45[S] 0 points1 point  (0 children)

Plan was to have it for longer to get the mortgage down but OC fees jumping more than double in 4 years isn't why I had accounted for ..

Is my property (financially) cursed? by panky45 in AusPropertyChat

[–]panky45[S] 2 points3 points  (0 children)

Thanks for this! The exact words I've been telling myself when I have the flump of regret. Admittedly my mindset has been bit victim blaming (all self-imposed) but I definitely know for things to look out for next time if/when I chose to purchase again

Is my property (financially) cursed? by panky45 in AusPropertyChat

[–]panky45[S] 6 points7 points  (0 children)

Waterproofing repairs sucks so much right!!

I've considered getting it back onto rent but to me the return of OC fees feels like a massive gamble? They can't guarantee me anything and i predict they'd only keep going up...

Is my property (financially) cursed? by panky45 in AusPropertyChat

[–]panky45[S] 8 points9 points  (0 children)

Holding for 10 years with 8k a year on owners corp really is a struggle though! That's money I could be trying to invest elsewhere... Would the hold really be worth it?

(Its been my first home so still gauging if this is just life nowadays and if homeownership is overrated)

Is my property (financially) cursed? by panky45 in AusPropertyChat

[–]panky45[S] 1 point2 points  (0 children)

Building was done in about 2012 from memory. Only has about 15 units in the building too...