Home renovating Repairs and Maintenance, re tax time
June 9, 2010 by Tim
Filed under Practical Renovation, Renovating, tips
Hopefully most investors will write a pro forma tax schedule for the coming Tax year ending. Those within the BAS system, will automatically have much of this organised. This way one can measure what would be worthwhile for tax optiminisation. If one has a high tax payment year, there are heaps of areas one can spend money on, such as, essential upcoming repairs, gardening, gutters, fencing, high wear areas in the home. The ideas may seem trite but use a checklist approach.
1 Ask the tenants what needs repair,
2 Repair things that will add value, for example in, the Kitchen and Bathroom,taps, washers, handles.
3 Repair or Replace, Items that are coming up to their fully depreciated time, like Hot water service, Heaters, Cookers, Ovens, air conditioner.
4 For the furnished apartment, there are a wider range of items one could replace/repair: including the washing machine, Dishwasher, computer system, television.
I set aside around atleast one percent of the capital value of the home for these expenses. One way to think of them, as value adding essential items: either adding to the comfort for the tenant or value for the Investor.
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Rising price for water, effect on home renovating
June 7, 2010 by Tim
Filed under Practical Renovation, Renovating, environmental features, tips
Received my latest water bill, with the note Water Prices are to double over the next four years. In order to encourage me they are moving to volume charging for water, from the the first of July. “In order to encourage , me they are saying, Its all part of the Plan, to fund crucial water saving projects”, like the $5.8 Bn Desal plant and the Sugarloaf/Lake Eildon water pipe. Hope they aren”‘t stealing water from the farmers? One is critically aware the Desalination plant will cost a fortune to run on electricity. Queensland water price s up 10% today, am sure most States will keep in close alignment. Excuse is its to fund the recent $9 Bn in new water projects. V ictora” s announcement is due on 1/7/2010. Lots more environmental ideas in other Posts
I can agree with Storm water Harvesting recyle plant at Kalkallo: but its a tiny project.
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Solar Power systems update on home renovating
June 4, 2010 by Tim
Filed under Renovating, environmental features, new building products, tips
Australia’s Silex Solar systems, has taken over the long established BP Solar power company. This keeps valuable expertise and research technology in Australia. Where some progress is being made in the efficiency of Solar Panels energy conversion, which is currently regarded as quite low.
The rate of take up of solar power on the roof has accelerated. It is still way behind that of Germany where some 2,500 MW capacity has been installed. While Australia has around 115 MW.
Given the new State based REC trading system one can earn from the power, by feeding back into the electricity system. Famously, A Cooper from Berowa, has been earning $5,500 a year on this feed back system. I have recently, installed a larger 3 KW system. It should offestt my entire bill and might even generate some feedback income.
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New Ideas re Design Electric Cars effect on home renovating
June 2, 2010 by Tim
Filed under Finance, Practical Renovation, Renovating, environmental features, new building products, property market, tips
Reading , about the new models, the Mitsubishi Imiev, { due next month } costing $62,000, closely folowed by the Tesla, Chinese EV made by BYD at $25,000, Nissan Leaf $40,000, with the Ford, GM Volt at $65,000 and Toyota models due in two years. A plug in Prius is also due, this has both the convenience of petrol and the low cost running of the electric power. While the Imiev is currently, too dear, its available this year, in July. The cost shall halve, as production volumes are expanded over the next two years. The BYD Chinese car is much more reasonable and due, for sale, next year 2011. Apparently the Chinese are expecting to surpass the volume of production of Toyota. The sales of Electric cars are to represent 10% of the world car market in 10 years, and 30 % of Developed country car sales {reference Delloitte}. The subsidies for purchase of an electric car vary from $7,000 to $9,450 in overseas countries.
The point is the electric car is arriving, and cars will remain the dominant form of transport for Suburban people. Currently there are three Imiev cars touring Australia for marketing.
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So one needs to take this into consideration in your property decisions
NEW Woolworths/Lowes Stores, for home renovating
May 29, 2010 by Tim
Filed under Practical Renovation, Renovating, new building products, tips
Writing for Australian readers of the expected benefits from the New Hardware chain to open over the next few years.
Its the Woolworths /Lowes Joint venture. The home improvement market is growing at twice the rate of the economy. Its a $40 Billion market. The Lowes store will compete with major white goods retailers and furniture stores, including, elements of Myer, Reece, Harvey Norman, Ikea, Freedom Furniture, Domayne, Retravision. The new chain will have 150 stores very quickly, by building on the Danks stores and parts of Mitre ten.
The new Lowes stores will have a wider range of home renovation products including, Furniture, White goods, Heating /Cooling, Home decorating products, Carpets, Storage, Curtains, Lighting, Kitchens,and Bathrooms. Bunnings also has an aggressive new store opening plan. Bunnings is more like the Home Depot format, Large cold Barns with a limited range of low cost products.
Woolis/Lowes will be more like Lowes a more comfortable store with a wider range of Home living products, some emphasis on Healthy Living, Decorative products like , curtains , Bedding , rugs, Saving Ideas, Trades Prossionals Installers and Free Creative living magazines.
Lowes has an FREE easy read Ebook, via computer.
I fully expect this competition will cut the costs of Home renovating products by thousands for each home. It will be a one stop shop for the home.
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