Cooperative Home Banking, or the Vietnamese Banking model?
February 16, 2010 by Tim
Filed under Finance, Renovating, property market
Some 20 years ago, I happened to be driving through the inner city suburb of Burnley, in Inner Melbourne. I noticed about 25 Asian men leaving a small terrace in the early morning. I wondered, What is going on here?
This seems like a large number of men in just one small house.
After some enquiries. I discovered that in the Vietnamese world. If the men don’t have jobs and the banks aren’t keen to lend.
The men work a cooperative banking system. This is where they pool their social security payments each week. Then “Jackpot ” it once a year. The winner is required to employ one of the contributors in a business that he buys, say a hot bread business. Then each year the pooling of contributions and the “Jackpot” is continued, until they all have a business.
In this manner they are running their own bank.
What has this got to do with easy home renovating? Well, it just highlights the ability of some people to cooperate to achieve their goals. In Australia, after this latest banking crisis, Banks will be demanding tighter credit criteria. Options still exist like the “Shared Equity “Home Loan fron the Bendigo Bank.
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Latest re Home Environmental star Rating Ideas!
February 15, 2010 by Tim
Filed under Practical Renovation, Renovating, environmental features, property market
The recent upcoming C.O.A.G., Council of Australian Government report will be introducing mandatory Environmental ratings for all homes for Sale or Let , both new and second hand homes. Every home on the market, will require an Environmental assessment report. This system has been operating for many years in ACT and Queensland. It will rate the home for features like, Windows shades, Swimming pool, Air conditioning, Rainwater tanks,Wall and roof insulation, Grey water system, Window orientation,and heating system. These factors influence the energy efficiency of the home.
One way to is to think of it, as similar to the Energy Star ratings on electrical goods. These reports will cost between $150 and $500. It is expected that buyers and renters will be valuing homes for their Energy efficiency and comfort in the future. The system has been in place for new homes for a while, currently rated at 5 Stars, but to move gradually to 7 Stars. Contrast this to the United Kingdom, currently rating new homes at ten Stars. I anticipate these reports will be popular as, I expect energy, particularly electricity prices to go through the the roof !!! In Victoria we are just becoming aware of the deregulated electricity prices. The OECD are recommending total deregulation across all the Australian states,(sic) just what we need from Meddling European bureaucrats.!!
Mainly, to pay for dubious Desalination plants and CPRS Carbon taxes. While the Desalination plants are cheap to build, they are very energy intensive, read expensive to run.
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Some design ideas for your home Outdoor room
February 12, 2010 by Tim
Filed under Practical Renovation, Renovating, property market, tips
Today, I have been challenged to detail some unique real life story.
I am writing about the outdoor room.
On one recent project, the plan was to open up a backyard to great views over the local bay. The home being only 83 metres from the bay, had a broken rotting pine deck and a large garage filling the private rear garden.
I had the rotten deck demolished and the garage sold off and removed. The overgrown garden was severely trimmed and surplus of decrepit plants removed.
These are the things we did for the project.
Build a large curved, elevated, Hardwood Merbau deck built with direct access to the Kitchen and living rooms, via sliding glass doors. This connected the living areas to the large rear garden and deck.
The garden was given a most vigourous makeover, with new flowering Camellias, Flowering Standard Iceberg white roses and a new fence for privacy. A Pittosstrum hedge and fence extensions of trellis gave even more privacy. A feature cream sandstone retaining wall was built around the newly installed, instant rollout turf lawn.
I considered this project a terrific success. It achieved a great view over the ocean, a large private rear garden and a close connection beteween the indoor living areas, the deck and garden.
In the future, I anticipate the Outdoor room will be coming a desirable addition. I expect many more Australians will be working from home. Many will be entering extended retirement years. An Outdoor room in my view should have close connection to the living areas. In this way, one can enjoy it even on wet cold days, by viewing from the indoors. An outdoor room might be a deck , balcony, patio, or even grassed space: where one can have features like a Kitchen, barbeque, Fridge, water feature, outdoor heater, Large umbrella, robust furniture, weather proof TV or a day bed.
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FAST EASY home renovating Ideas.
February 9, 2010 by Tim
Filed under Practical Renovation, Renovating, new building products, property market, tips
1 Create an ensuite bathroom. One of the best renovating ideas is building in an ensuite. One might be suprized how these can be bought as a pre- fabricated unit. It can be installed in a suprizingly small space. In Australia, only a few years ago these would have been a luxury item. But in many new homes, they are now regarded as an essential item.
2 Add a bedroom. In the past a home, was often rated by the number of rooms. The current trend is to remove walls, to establish open plan living. But an extra bedroom, possibly taken off the living space can add value. I always try to remove a hallway, creating more living space, so one can take some space for an extra bedroom.
3 More comfortable living through a new heater or/and air conditioner. The installation of low cost temperature control appliances like heaters and air conditioners, can be a big feature. Given cheap imports from China, now these appliances have become inexpensive. Just ask any tenant what they want in a home, a key feature is good heating and cooling. Everyone wants a comfortable home .
4 A garage can be a major asset. It can be used for storage, tools, a” man cave” and to protect the car. Just check out the value of a car space in the inner city. At a pinch a garage, can be lined and used as a spare room. Friends of mine have actually, moved back to their parents home and stayed in the garage.
5 Better stainless steel appliances, for the kitchen, such as, the gas cook top, exhaust fan or dishwasher. If one buys the complete kitchen range of appliances, one can negotiate a big discount. Given the slower economy, current trading conditions allow one to negotiate great discounts, so do comparism shopping.
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Prospects for the Home investment Property Market ?
February 4, 2010 by Tim
Filed under Renovating, property market, tips
Will this be an up, or flat or down year?
What is the effect of rising interest rates ?
Is there a good balance, between homes supply and demand?
Below I will make my views,as clear as possible.
The critical factors I believe are employment prospects, population factors and building commencements (starts).
While there is a lot of conjecture about interest rates, I perceive this a less critical factor. Why can this research be easy?
1 I understand net immigration has risen in recent years, steeply from 110,000 to 180,000. I argue, that these official figures may be way underestimated. Consider there are sustantial categories of migrants not even counted, like overstayers and New Zealanders. Consider if just 10% of the two million tourists overstayed, this would add 200,000 to the figures.
2 I fully expect, a large number of Australians will return from overseas work. As 900,000 Australians work overseas. I reckon up to 100,000 will return, this year. The worse things overseas, the better the prospects for economy in Australia will look by comparison.
3 Rents are rising rapidly, as vacancies are falling sharply.
4 My understanding of housing commencements are that, 120,000 are being built, when we need 180,000. Could this create a shortage ?
5 Last year there was plenty of likely rising unemployment, but many companies moved workers onto shorter hours. This year, employment prospects are improving, with both longer hours, more overtime and more jobs. This has obvious implications for the property market. Secure employment allows more people to hold to/buy ? their home.
So on balance make up your own conclusions. It should be easy for those who are home renovating!!!
Try easy home renovating , you might even do quite well.!!!
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