Mega Thread The Questions Thread - Part II

[The Dice Man]

Yes i know that now and will put on market when lease is almost up in about 9-10 months or 17 months (if they want to stay longer). When i was going thru the leasing process i wasnt sure I would be selling and set it up so i could return one day.
But im convinced now to sell. Just need to wait to lease is up as it wont sell easily enough with that much time left on lease

My mum who lives in Carrara put her house on the market last week. First day of open house she had 65 unique groups visit in 2 hours, and 17 written offers by the end of the day. The highest offer was 28% above her asking price, and in cash. No banks needed. He's already put down the 10% deposit.

It's a good time to sell maybe.

 

[Billy ray]

My mum who lives in Carrara put her house on the market last week. First day of open house she had 65 unique groups visit in 2 hours, and 17 written offers by the end of the day. The highest offer was 28% above her asking price, and in cash. No banks needed. He's already put down the 10% deposit.

It's a good time to sell maybe.

Yeh i assume its a standard house in a nice area. They are going quick as you say. Stuff like mine taking a bit longer baser on last 3-6 months in my area.
Hoping it gets hotter at the price range i am looking for in next 6-12 months.

Im also contemplating calling the prize home people to see if they want an off market sale at a fair price (lower than I would list for). They could spend a little, furnish and add gold bullion and its one of their 2024 prize homes.

 

[rocker_oz33]

My mum who lives in Carrara put her house on the market last week. First day of open house she had 65 unique groups visit in 2 hours, and 17 written offers by the end of the day. The highest offer was 28% above her asking price, and in cash. No banks needed. He's already put down the 10% deposit.

It's a good time to sell maybe.

Ching Ching .

 

[rocker_oz33]

Trouble everywhere is Expensive.

Sell up won't get much change or might have to add extra cash to move not that far .

Really depends on where you wanna go once you sell up.

 

[The Dice Man]

Trouble everywhere is Expensive.

Sell up won't get much change or might have to add extra cash to move not that far .

Really depends on where you wanna go once you sell up.

Yeah exactly. My mum is selling up and moving further north where it's still expensive, but not quite as much.

 

[rocker_oz33]

Yeah exactly. My mum is selling up and moving further north where it's still expensive, but not quite as much.

I was out near Wilson prom maybe an hour from the prom.
Nice little house ..no land 500k plus....not much for work that way.

Same in the little towns in Tassie I stayed at ...priced high .

 

[rocker_oz33]

Heard of this story of this little shack in the bush in Tassie .
Noone wanted, it was dirt cheap.
Someone brought it for cheap...real cheap.

Fast forward 5 or 10 years .

Mountain bike track was made right near it .

It sold for a million..

 

[PT Bar None]

Nah im renting now. Essentially rentvesting.
If i do sell i may buy again to live in or buy again to rent out and rentvest for a while, prob just until before i retire (Or enough kids move out an di can buy a 2-3 bedder)

My peers tell me that getting kids to move out these days is tougher than it used to be

 

[revo333]

My peers tell me that getting kids to move out these days is tougher than it used to be

It will be really normal in a decade or 2 for people to be still living at home in there mid-late 20's.

And it's not because people won't want to move out of home.

Don't have kids now if it's something you don't want to deal with.

 

[Gralin]

The problem after you deal with selling costs, stamp duty on the new place, moving costs etc "downsizing" is often a net loss unless you're also moving somewhere cheaper
Currently there are a lot of big houses with empty nesters that will stay like that because of this

 

[PT Bar None]

It will be really normal in a decade or 2 for people to be still living at home in there mid-late 20's.

And it's not because people won't want to move out of home.

Don't have kids now if it's something you don't want to deal with.

I won't!

Very different economic pressures now than when I left home at 17!

 

[Gralin]

It will be really normal in a decade or 2 for people to be still living at home in there mid-late 20's.

And it's not because people won't want to move out of home.

Don't have kids now if it's something you don't want to deal with.

This is happening now and has been for years depending on where you live

 

[revo333]

This is happening now and has been for years depending on where you live

Yes, I noticed it 5 years ago but I think we are still years away until most people understand and have sympathy for how hard it is.

At the moment I'm working with a 24 year old trying to find a place to rent with his partner and every weekend he has said inspections have 200+ people attending them and people offering $150 over the listed price and I believe him. Don't even bother if you can't afford over $450 a week for rent.

 

[Caesar]

The problem after you deal with selling costs, stamp duty on the new place, moving costs etc "downsizing" is often a net loss unless you're also moving somewhere cheaper
Currently there are a lot of big houses with empty nesters that will stay like that because of this

If you don’t need the cash there is no motivation to take any money out of your home

Property prices increase faster than the stock market and the gains are CGT free

 

[Gralin]

Yes, I noticed it 5 years ago but I think we are still years away until most people understand and have sympathy for hard it is.

At the moment I'm working with a 24 year old trying to find a place to rent with his partner and every weekend he has said inspections have 200+ people attending them and I believe him. Don't even bother if you can't afford over $450 a week for rent.

It's dire
The market is just terrible in so many places.
How quickly prices are going up isn't in line with pretty much anything.

If you don’t need the cash there is no motivation to take any money out of your home

Property prices increase faster than the stop market and the gains are CGT free

There's the issue of upkeep or mobility for some as well

 

[rocker_oz33]

The problem after you deal with selling costs, stamp duty on the new place, moving costs etc "downsizing" is often a net loss unless you're also moving somewhere cheaper
Currently there are a lot of big houses with empty nesters that will stay like that because of this

Yep,move somewhere smaller you don't bank enough or don't bank at all ..

 

[Nothing]

If you don’t need the cash there is no motivation to take any money out of your home

Property prices increase faster than the stock market and the gains are CGT free

Citation needed.

 

[Caesar]

Citation needed.

it’s really not

 

[Over The Post]

Citation needed.

Here's my Citation that I bought from my property prices increasing faster than the stock market and not paying CGT on my gains

 

[Shell]

View attachment 1860913
Here's my Citation that I bought from my property prices increasing faster than the stock market and not paying CGT on my gains

It's not the Ted Danson plane tho..

That looks like a real piece of junk!

 

[MrsEddieBetts]

Okay guys me dumb dumb
Our flight home from Hawaii changed so I need to update our accommodation
The departure date FROM Honolulu - is that in US time? It says 30 Dec, so would that be the 31st in Aus and the 30th there?

 

[Shell]

Surely that is Hawaii time

 

[Shell]

*right now it is 1pm on the 26th of Nov.

So they are roughly... i have no idea i cannot do this maths on so little sleep

 

[Caesar]

do kids still use the phrase 'tuning' to refer to chatting someone up?

a perennially single mate of mine used it the other day and I sort of went "shit, haven't heard that word in 10-15 years"

 

[Shell]

Tuning.

Like a piano? Wth