Easy Home Renovation For Profit » property market

Carbon tax effects the cost of new homes!

Tim — Thu, 17 Nov 2011 03:44:10 +0000

The Herald-Sun commmentator, Terry McCrann, notes the Carbon tax will effect a wider range of goods and services than the Goods and Services Tax. Given it includes products like fresh food, education, books, medical expenses, charities all were exempted from the GST tax. The Carbon tax also starts high at $23 a tonne and then grows at a compounding pace of eight percent a year. The effect of this new tax McCrann argues, is very like raising the GST tax from 10% to 15% over time. The Housing Industry Association, argues this will raise the cost of new house and land packages by $6,000. I maintain the diesel section of the tax will have a larger disproportional effect on the subdivision and developmental cost of land. I suggest the real cost of new home and land packages may be even higher!

More Help for First Home buyers

Tim — Tue, 15 Nov 2011 05:10:15 +0000

Announced with the last state budget, the Stamp Duty rebate, is being progressively rolled out, initially as a 20 percent reduction, with a further 10 percent to be knocked off in January 2013 and 2014 respectively and then a final 10 percent reduction in September 2014, bringing the total rebate to 50 percent of the stamp duty, usually paid by first home buyers. It applies to homes that cost or are built for $600,000 or less.

The Stamp Duty rebate, which must be applied for after settlement, complements the existing first home owner grants. Under this scheme, buyers are eligible for a First Home Buyers grant of $7,000 when purchasing a home up to the value of $750,000. If the home is newly built and its price does not exceed $600,000, there is an additional bonus of $13,000.

Buyers in a regional area, in addition to the previous two figures, will get another bonus of $6,500, if the price or construction does not exceed $600,000.

State government figures show that more than 28,000 people claimed the first home owner’s grant for an established or new home in the last financial year alone.

Earlier this month, a spokeswoman for Treasurer Kim Wells, told The Sunday Age, that the Stamp Duty cuts had assisted more Victorians to buy their first home, with government figures showing” 1,428 buyers had collectively saved more than $3.96 million in stamp duty under the program so far.”

However, Greville Pabst, chief executive of the WBP Property Group, a prominent Valuers group, says the Stamp Duty concessions so far appear to have had ”little impact” on the number of first home owners entering the market.

Melbourne as an easyhomerenovating capital

Tim — Fri, 11 Nov 2011 03:03:53 +0000

The recent State government studies researching new transport upgrades highlight the opportunity in Melbourne. Sir Rod Eddington, Infrastucture Australia, is suggesting an underground east-west link tollway road tunnel. This would link the Western ring road to the Eastern freeway, its long over due. The Westgate bridge which has become completely overloaded and clogged, it needs an alternative route.
Melbourne, is forecast to need atleast 600,000 new homes over the next twenty years, so lets consider the transport needs, before the roads become gridlocked. A new outer Western ring, to swing from Beveridge to Melton down to Werribee is mooted. This would support the growth of Lockerbie, Tarneit, Wyndham vale, Melton, Werribee South, Point Cook and West Wyndham vale.
The prospect of fifteen new trains stations, including at Donnybrook, Beveridge, Wyndham Vale, Tarneit, Truganina, Toolern, Rockbank, Clyde and Sunbury North.
Not all these projects will proceed smoothly, but atleast some great plans are being laid, for the expected massive growth of Melbourne to the north at Donnybrook, west at Melton and south-west at Wyndham vale. The projects to proceed will need considerable Federal funding.

Move house or Renovate the current Home?

Tim — Mon, 17 Oct 2011 03:30:22 +0000

This is a torrid question. Given the very high fixed charges of Agents fees, advertising, moving costs, renovation, repair costs at the new location and Bank fees. These costs will add up to atleast ten percent of the value of your home, more likely 12%. So on a $700,000 home, the moving cost adds close to $84,000, this gives one pause for consideration, this would buy a lot of renovation. I am inclined to prefer the renovation option in a flat market. If you want to do the renovation, yourself or have a modest outlay, then stay where you are and renovate. The array of cheap products from big, bulky goods, Bunnings, Lowes, Masters, Home Depot warehouses and quality tradesmen favour renovation.
I offer the idea, it also depends on your age and plans to stay in an area or ‘upgrade ” to a better location. If you are expecting considerable capital growth and have the years to achieve this growth, then you may prefer to relocate. If you have a desire for a much improved suburb and are willing to make a large outlay, then consider moving. The advent of reverse mortgages, suggests one can add substantial value into your home, even as a savings plan. Consider your personal circumstances.

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Melbourne Suburbs Home equity levels

Tim — Thu, 06 Oct 2011 01:02:23 +0000

I am reading about the relative equity levels of some Melbourne suburbs. It is interesting to note, that some have much higher levels of home owner equity than others. This could be indicative of a much higher ability to meet home mortgage repayments during any financial stress period. The highest equity levels are as follows, homes with more than a fifty percent equity, Boroondarra 80.4% Eastern middle Melbourne suburbs, 79.9%, Eastern outer Melbourne 77.7%. While, the suburbs with low levels of equity include, Inner Melbourne, 65.3%, Melton/Wyndham, 59.2% and South Eastern outer, 65.8%. Simplistically, I say, these ones with a lower equity level, are areas where home owners may find it harder to hold their homes, in any financial crisis time. So the Eastern suburbs, are the safer places for home renovating to hold a home for the long term! Thats where the big money is made by compounding growth over the long term.

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Advantages of Apartment living

Tim — Sat, 06 Aug 2011 07:08:23 +0000

Melbourne has an apartment building boom under way. Lots of quality and convenient apartments are being built in the inner suburbs and along transport corridors. Some people think this might lead to a short term glut. But others say there is rising demand.
Below, I list some of the advantages of Apartment living.
1 Convenient to transport and entertainment 2 Lower maintenance costs, repair or cleaning costs
3 Less gardening,if any, certainly no lawns 4 Convenient to restaurants, cinema, shopping centre, and coffee shops 5 less cleaning and furnishing required 6 Potentially sell your car and just use public transport 7 Closer to Friends and family 8 A faster commute to work and the city 9 Better security in a secure community complex 10 The management agreement can have heavy annual fees, often, the older walk up units have much cheaper fees, as there is no lift maintenance.
If you like the idea of apartment living, below I offer some ideas to consider in your apartment selection.
1 Check out the quality of the builder and the developer, as they have built up certain reputations on prior projects, 2 Check access to local playground, parks, gardens and local outdoor areas, like the bicycle track, remember you have no garden, 3 Convenience to shopping, childcare, entertainment, swimming pool, library, 4 Is there good storage, such as, a secure cage area in the garage, 6 Check out the value against other new apartment blocks, 7 Views and balcony can be important, for a sense of space, 8 Compare the value of new apartments to older ones, which may have larger rooms and opportunity for renovation.

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Population growth in Australia

Tim — Tue, 07 Jun 2011 04:00:28 +0000

I am reading of the rate of immigration key factor in population growth for Australia, given births are relatively stable. From the Herald Sun, today, 7/06/2011. The immigration is a net

220,000 for 2007

315,690 for 2008

299,863 for 2009

230,000 for 2010

158,600 for 2011

181,400 for 2012

187,600 expected for 2014.

Clearly, after the boom years of 2008 and 2009, the net immigration rate has fallen dramatically, by close to 40%.

Now immigration is projected to rise modestly, the Rudd years of aiming for a “big Australia’
are gradually returning. No wonder the current home sales market is weak. I Argue, this is a temporary phase and home sales will recover within two years. The current growth shows an estimated Australian population at between 36M and 45M by 2056. The media is full of gloomy news of house prices, but I reckon it is a bit over done.The market is certainly weak, volumes of unsold homes is high. But, I can see this turning around, as less homes are built and migration rates increase. The prospect is for a fall in interest rates, as the consumers are too gloomy. Reference Herald Sun

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Golf club course housing estates.

Tim — Sat, 04 Jun 2011 03:40:00 +0000

Melbourne has at least fifteen golf club estates for housing current or being built. Jeff Blunden, a property researcher, says, while these housing estates have been a great success. Into the fiuture, in practical terms no more will be built. The value of land has simply risen too high for a developer to make a good return. Few home owners may actually play golf, they like the peace,less neighbours and noise and the view over the golf course. One could say it is a bit like a great big backyard. Arguably, one of the most successful has been, Sanctuary Lakes, near Point Cook.
In the USA, people pay 30% to 50% more for a block on a housing estate. While, here in Victoria they can be bought at no premium to normal land. A 70 Ha golf course estate takes away 1000 blocks equivalent for housing.

Currently, land values vary between $280,000 to $1M a block for land on Golf course adjacent estates.One can still buy golf course adjacent land at Eyesenbury, west of Melton for $260,000. The prices at the Hunt club, near Cranbourne are OK too.
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Ideas for your garden/outdoor room,via easy home renovating

Tim — Wed, 25 May 2011 05:25:40 +0000

Ideas for you garden and outdoor room will enhance the appeal of your home.
1 A well designed landscaped garden will add great value to a home, consider a professional landscape gardener.

2 Care should be made placing artwork within the garden, in order to optimise your garden features.
3 A practical outdoor room will have relaxing furniture including a suitable table, couches and chairs.
4 An outdoor weather proof rug will add comfort to an outdoor room.
5 A fire pit or outdoor heater will allow you to enjoy your outdoor room for an extended time and into winter.
6 An ethanol heater can be used either outside or inside your home, as they don’t need a flue.
7 A garden room screen, could be brushwood, Bamboo, glass, a metal sculpture or composite product.
8 Be aware of Bamboo in the garden as a feature plant, as it can grow out of control. It is a great screening plant and gives an Asian type effect, just keep it trimmed.
9 A new timber replacement product is a wood composite, futurewood, made from HDPE, hard wood flour, and rice husks.
10 Outdoor lighting is one way to enhance your enjoyment of a garden or outdoor room.

Easy Home Renovation For Profit » property market

Carbon tax effects the cost of new homes!

More Help for First Home buyers

Melbourne as an easyhomerenovating capital

Move house or Renovate the current Home?

Melbourne Suburbs Home equity levels

Advantages of Apartment living

Top Tips for Home Presentation

Population growth in Australia

Golf club course housing estates.

Ideas for your garden/outdoor room,via easy home renovating