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Vic Wasteland Thread - 15.0

R31Nismoid

By R31Nismoid,
in Victoria

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UNR33L Grand Master

UNR33L

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Townhouse we live in they tried to sell a year ago exactly for 900k ish after buying for 720k in 2014, yet it only finished build in 2017. 

No bids at auction a year ago, 2nd listed 6 months ago private sale, no offers, 3rd time again now listed at 780k still no interest 4 weeks into the campaign, we're sick of them trying to sell it so getting the hell outta there.

It's a shitty design and more or less 'unfinished', some windows missing curtains, toilets don't work properly (we're down to one now), no out door cover or front door cover even though they built some weird wooden frame, back yard is just dirt, toilet windows have what appears to be baking paper taped on it instead of proper frosted glass, barely any water pressure on some taps, 'study nook' has no power or data, ADSL2 at 2mbps only internet, we ended up resorting to 200GB 4G plan (NBN updates all the time & now pushed to June 2020).. the list goes on. Really makes you realize what you want in a house when it's time to build / buy yourself. 

You can guess the builder and owner country..

Edited by UNR33L
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emts Grand Master

emts

Posted
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sounds like the place we were house sitting for a period prior the house being finished.

Loved the fact the shower floor didn't drain to the drain but the middle of the bathroom (and no other drain in bathroom)

you used multiple towels to create a dam around the door then flush it back in.

bad sealing around doors/windows, place was always freezing.

next to no phone reception and the ADSL was slow as.

At least the shit heap I lived in at newport had 100Mb cable, full signal and so so cheap rent.
owners knew what they had and priced accordingly,

UNR33L Grand Master

UNR33L

Posted
Posted

Yeah in many ways the older houses are built way better, and typically have coax internet. 

On another note, get on the facebook shares fellas, check out how many of the top used / downloaded apps are and who owns them

Birds Grand Master

Birds

Posted
Posted
19 hours ago, viper2002 said:

Yeah it's odd, there's a massive decrease in housing prices but the rentals are not budging. I'm hoping prices drop sometime soon as I'm not planning on getting a house for a few years.

I don't think it's that massive. Depends on suburb obviously but where I bought had a 3Bed median of $530k at the time, peaked at about 610 and has scaled back to about 590.

Even at 530 people were harping on about not being able to afford to buy so I'd say unless it goes well under the rentals in suburbia are still going to be strong. People work jobs in the city and such and may not want the travel time of where they can afford to buy.

Lack of rental price drop could also be rentals being owned by people who don't have any loan or shortfall to pay back and aren't desperate to tenant it...foreign buyers of a certain nationality??

viper2002 Rising Star

viper2002

Posted
Posted

Have lived in quite a variety of places before. It seems the sweet spot is 1990 - 2005 for something well built. Anything before that and they need constant maintenance to keep them nice, and after that everything just feels so cheap. Especially with the metricon builds which are literally built as cheaply as possible.

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dezz Grand Master

dezz

Posted
Posted
Townhouse we live in they tried to sell a year ago exactly for 900k ish after buying for 720k in 2014, yet it only finished build in 2017. 
No bids at auction a year ago, 2nd listed 6 months ago private sale, no offers, 3rd time again now listed at 780k still no interest 4 weeks into the campaign, we're sick of them trying to sell it so getting the hell outta there.
It's a shitty design and more or less 'unfinished', some windows missing curtains, toilets don't work properly (we're down to one now), no out door cover or front door cover even though they built some weird wooden frame, back yard is just dirt, toilet windows have what appears to be baking paper taped on it instead of proper frosted glass, barely any water pressure on some taps, 'study nook' has no power or data, ADSL2 at 2mbps only internet, we ended up resorting to 200GB 4G plan (NBN updates all the time & now pushed to June 2020).. the list goes on. Really makes you realize what you want in a house when it's time to build / buy yourself. 
You can guess the builder and owner country..
Why the f**k would you pay to rent there? Sounds like a shit hole
  • Like 2
emts Grand Master

emts

Posted
Posted
58 minutes ago, fuzzy_scuz said:

I brought semi rural 4 bedroom house with 1/3 acre block for 350K, in 5 years property is now worth 550K. Cheap properties are there if you are willing to look.

this for sure.

last year Sister in laws suburb (fairly inner with a tram nearby)  drops 10.1%
Our small country town goes up 8.91%

UNR33L Grand Master

UNR33L

Posted
Posted (edited)
21 hours ago, dezz said:

Why the f**k would you pay to rent there? Sounds like a shit hole

At first we were just happy to find a place that let us in with the dog, didn't know the toilets wouldn't work, NBN would be constantly pushed back (it did say late 2017 at first) etc. Anyway it'll be behind us soon, I guess its another one of those 'dont judge a book by it's cover' things, it appeared to look good & brand new on the surface but in reality had shitty problems everywhere. 

Looking forward to getting my 6 WEEK bond back. 

Edited by UNR33L
TiTAN Grand Master

TiTAN

Posted
Posted
At first we were just happy to find a place that let us in with the dog, didn't know the toilets wouldn't work, NBN would be constantly pushed back (it did say late 2017 at first) etc. Anyway it'll be behind us soon, I guess its another one of those 'dont judge a book by it's cover' things, it appeared to look good & brand new on the surface but in reality had shitty problems everywhere. 
Looking forward to getting my 6 WEEK bond back. 


Aren't there rules limiting bond to 4 weeks?
viper2002 Rising Star

viper2002

Posted
Posted
27 minutes ago, TiTAN said:

Aren't there rules limiting bond to 4 weeks?

 

Unfortunately not. If the rent is $350 or less a week they have to cap it at 4 weeks, however, if it's over $350 they can literally choose whatever they want. I have seen places listed for $500 / week try to charge $4,000 in bond, it's ridiculous.

With the new laws coming this year they will be capped at 4 weeks no matter the rental amount.

Birds Grand Master

Birds

Posted
Posted

88E is a great short term money maker If you're prepared to buy in after the falls and get out before the news drops. I've called it every time; borderline cyclical; just haven't had the cash to throw at it and I'm not sitting out for when they finally hit a win.

Latest announcement says a bidder for the conventional has been selected...will we get a deal out of it?

Leroy Peterson Grand Master

Leroy Peterson

Posted
Posted

Who cares.

88E gonna be buried under the permafrost. Why should anyone or Oil search offer them shit? Great bear and 88E done the hard work. Maybe if oil search want to say they have the leases for half of Alaska, then they'll probably be low balled.

 

But anyway, lots of spec stocks been pummelled this year. Lots haven't recovered from December fall. Now is a time to be ambitious, but I'm trying to keep it tight. Keep it real.

Picked up a bit more CPH at bargain basement prices, and SW1 too.

 

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