Home renovating Repairs and Maintenance, re tax time

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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House Market to Slow! Investors design Opportunity

Recent auctions show a dramatic slowing in the clearance rate, with some auctions having a complete no show. I wonder why ?
Well for many months rate of First Home Buyers has been slowing : while Investors appeared to keep buying.

But I suggest the potential in the NRAS is just so good, many investors are discovering this opportunity.

At the recent Residential Housing Conference, the Minister for Housing, Ms Plibersek, has noted that third stage of NRAS funding has approved some 12,000 new dwellings, out of  a total of 50,000 required by June 2012. Major investor developers include big Super funds and developers, Lend Lease, MAB, AV Jennings, Grocon and Devine.
Investors gain a tax incentive of more than $9,000 each year for 10 years, secure tenancy and carefull research to meet tenant needs.

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An Idea on the Melbourne house property boom? Why ?

Today, newspapers are reporting week after week of rising Melbourne home values and premiums achieved at auction. What does it all mean ?

1   The population of Melbourne is booming by growing at 1800 a week.

2   This is considered to be double that of only five years ago.

3    Builders are having difficulty finding finance. They are not building enough to meet the house demand.
4    The changed FIRB {Foreign Investment Review Board} guidelines for foreign buyers, has allowed a sudden rise is in overseas buyers. In some areas, these new buyers can account for up to one third of all buyers. This is having a disproportionate effect at the public auction sales.

5   Why is Melbourne so popular? Well all the factors we have always know are becoming more important. Melbourne has great tertiary education institutions, and compared to Sydney, stronger State government leadership!, better public transport {Melbourne is to build several new train stations}, much cheaper land, better hospitals, easier roads congestion and great beaches. I argue there is major interstate immigration from other Australian states. This will take time to be confirmed with government statistics. Then we will be increasingly, be made aware, just why so many Sydney developers including FKP, Devine, Mirvac, Lend Lease, have moved their emphasis of land and homes development to Melbourne.
6  One can still buy a brand new 3  Bed room brick home for around $ 310,000, in Carrum Downs, Skye, Pakenham, Wyndhan Vale, Melton or Tarneit, where similar homes in Sydney would be $600,000.

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