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Last Post 20/10/2009 21:27 by: *carls_world*
Replies: 509
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froot_loopz
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4/07/2009 11:12
the other problem is going to find a house that is big enough.
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happyroo_bunji
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4/07/2009 11:12
Are the bathroom and kitchen usable, just ugly?

Ugly you can live with, unusable you can't
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froot_loopz
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4/07/2009 11:13
and all the ones in this area have tenants in them
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*carls_world*
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4/07/2009 11:13
I'd get my foot in the door. Work can be done bit by bit, when affordable. Prices aren't going to come down while you're waiting for a'nice' one.

Besides, the ones I've seen with 'renovated kitchen etc' have been renovated to suit the seller's taste, and not necessarily the buyer's. If you get one that needs work, then the reno's can be done as you want it done.
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patcher246
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4/07/2009 11:15
Seriously I would go for it Froot, you will benefit in the long run. I think we all probably started off with something we didn't really like but you can only go with what you can afford.
You would at least have the satisfaction of knowing it is yours (and the banks, LOL)
A tin of paint and new curtains can work wonders.
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kiwiroo1212
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4/07/2009 11:17
HI dont over extend yourself.

Im with the ex bank manager if you cant afford $1000 (thats cheap for a kichen overall) my bathroom alone cost me $4500.

interest rates will rise, maybe look at another house.

I agree a house is an excellent investment but only if you can afford it!!!
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froot_loopz
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4/07/2009 11:17
thanks everyone

now if i could get a few home openings I could go have a proper look at a few
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patcher246
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4/07/2009 11:17
Tenants will move out when the house is sold, though it may take just a little longer than normal to move in.
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froot_loopz
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4/07/2009 11:18
I HAVE EMERGENCY FUNDS STASHED

but I wouldnt call an overhaul of a kitchen or a bathroom an emergency
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flashie*
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4/07/2009 11:19
If you are seriously considering a property I would strongly suggest getting a building inspection done.....and finding out if the bathroom and kitchen issues are structural or just cosmetic.....and then make and informed decision.
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patcher246
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4/07/2009 11:19
I wish you well Froot, it can be an exciting time but also a very daunting time, take your time looking around and making the decision.
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froot_loopz
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4/07/2009 11:19
yep flashie, I have money for that as well
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bella_principessa03
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4/07/2009 11:20
I think those that are encouraging you to go for it is right. Just make sure the overall structure of the house is sound.

You can do up houses bit my bit, we have done it many a time. The last house we paid 100,000 spend about 15,000 and made 140,000 off the house. The house before we paid 80,000 replaced the kitchen (second hand one mind you) we got for 1,000 dollars tiled it and it sold for 185,000 so nothing is impossible.

This house we just brought the kitchen is great but the bathroom and rest of the house needs a complete overhaul. The potential though is enormous!

So I guess the key is finding what you want seeing its potential and buying within your means. I think personally it bets renting.
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*carls_world*
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4/07/2009 11:20
Also, it depends if you're handy with that sort of thing, or know people in the trades, or can do the work.

Just getting the builders in and giving them free reign could turn out mega expensive. DIY and you can't really go wrong with a fixer upper, as long as it's still liveable.
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patcher246
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4/07/2009 11:20
Good point Flashie, re the inspection.
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