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| We looked at a house to buy. | |
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| Tweet Topic Started: Jun 24 2007, 02:08:12 PM (171 Views) | |
Nicky
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Jun 24 2007, 02:08:12 PM Post #1 |
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We have all been getting pig sick of renting and so every now and again we head off for a general nosy around houses that we might be able to afford one day. Then this week we saw an advert for an old house in ElDorado ( :lol:) which is a small village about 15 mins from Wang. The house used to be the old bakery and still had the old oven etc with 4 bedrooms all for a MASSIVE $155K
:thumbsup: . So we went out and had a look and it is lovely so we came away with loads of ideas of what we could do with it (and end up with a house with some history to it). Here is the link if anyone is interested http://www.stockdaleleggo.com.au/wangaratt...ERNET_ID=146267. We could say goodbye to heating, broadband and some space for a while but once we did the renovations that we want to do it would be lovely. So now it is decision time as we have our current rental until March 2008. Nicky |
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ohippy
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Jun 24 2007, 03:28:45 PM Post #2 |
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Original Opulent Optimist
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wow - that's cheap !! What size block is it on ? Lovely to have a house with history - are you going to go for it ? |
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| Dolly the Dolphin | Jun 24 2007, 07:43:11 PM Post #3 |
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Emerald (Special Member)
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I can see the potential in a house like that. You could really make your mark on it. That is the sort of thing i would go for . Let us know how you get on if you do buy it, even if you have to snail mail us lol Mandy |
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Nicky
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Jun 24 2007, 08:22:45 PM Post #4 |
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Well we went and had another look and took some photos so that we can look at it again tonight. We want to get a builder to go and check it out and let us know how much it would cost us to do the renovations that we would want to do. The kids loved it because they found a secret room (there is a trapdoor in the back wall that leads to a room above the bread oven!). It all seemed pretty good although it has the town well in the garden so might be a risk for flooding and the bathroom wall looked a bit iffy. The renovations would have to include a new bathroom anyway. So we will have a think and see about getting the quotes. I am not sure what size the block is but it has the 4 bed house, bakehouse and stables along with a double shed and a bit of a garden so while it isn't huge it isn't bad. Nicky |
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| Anne | Jun 24 2007, 08:35:36 PM Post #5 |
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Wonderful Winsome Wench
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Something with a bit of character :thumbsup: |
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| ProofReader | Jun 24 2007, 08:38:04 PM Post #6 |
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Unregistered
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Oh, that looks just like me! :grin: I love it!! :applause: If only I had the dough, I'd outbid you pronto. :lol: I actually mean that, Nicky ... it's a fantastic looking place. If you're up for a bit of renovation and probably a lot of maintenance, what a bewdy! :thumbsup: As for the town name ... well ....... :lol: :grin: :thumbsup: |
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Nicky
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Jun 24 2007, 10:45:55 PM Post #7 |
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Well Ian is going to phone the builder tomorrow to see whether it is worth going for :dance2: so wait and see. The village has a shop, bar and takeaway and a park and apparently there are some seriously good swimming spots in the river about 500m away from the house. Apparently they called it Eldorado because they found some gold there but it turned out not to be very much and tin mining made it more money in the end (not as glamourous though).We have just been looking at it on Google Earth lol. Nicky :crossfingers: |
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| Dolly the Dolphin | Jun 24 2007, 10:51:33 PM Post #8 |
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Emerald (Special Member)
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Good luck, it sounds all exciting :yu: Mandy |
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| ProofReader | Jun 24 2007, 10:51:51 PM Post #9 |
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Unregistered
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It sounds wonderful! Just let me know when you've got it under your belt and I'll put you on my list of "things to do"! :kiss: Good luck with it, luvvie. :crossfingers: |
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| Tiredwithtwins | Jun 25 2007, 05:25:53 AM Post #10 |
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Admin
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... there arent any, erm, people living in the secret room are there?? :S lol :D looks lovley nicky ... just showed mal and he thought it was fantastic :yes: |
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Nicky
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Jun 25 2007, 08:03:48 AM Post #11 |
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Older properties over here are just seen as a liability by most of the locals. They would much rather have a brand new build so they think we are a bit mad probably
:crazy: (they won't be far off the mark). I will let you know how it goes. We will have to make sure that whatever the kids put in the secret room is removable if we ever want to use the bread oven ! Nicky |
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Nicky
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Jun 25 2007, 03:55:14 PM Post #12 |
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Well our friendly neigbourhood builder is going around to the house 10.30 Friday so we will know whether it is worth going on from there. Nicky |
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| Jane | Jun 25 2007, 08:30:30 PM Post #13 |
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Jaunty Jolly Jewel
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Good luck with the builder,hopefully it will be all positive! |
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Nicky
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Jun 29 2007, 08:22:43 PM Post #14 |
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Well I went to the house with the builder today and he reckoned that what we want to do to the house would cost about $100K but that the house is generally excellent value. He could see why we wanted to do it up and thought that it was perfectly livable even without the work (no scary white ants etc). He thought that the planning shouldn't be a problem as the work would be restoring and preserving the bakehouse and the extension would massively improve the view of the house from the road. We would leave the older sections of the cottages and improve the links between them to make one house, whilst retaining all of the heritage features. He thought that overall we would end up spending nearer 200K on it (replacing kitchen redoing interior etc) but that the house would be something really special and that none of it HAD to be done to avoid the house falling down etc. It was good to get a second opinion as that was what we had thought. So now we have to speak nicely to the mortgage people as we do not have $100K or even close so could only do it if they would lend on the property. One step closer :thumbsup: . I called into the local school as well and it is lovely so that was another plus point. Nicky |
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| Hevs | Jun 29 2007, 10:24:07 PM Post #15 |
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Miraculous Mamma Mod
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Love it
:thumbsup: I love old houses. New builds are just so impersonal (sorry to those who love them, but its personal choice :yes: ) Ours is still very much a work in progress but is gonna be totally worth it in the end. Good luck with it and keep us posted :yu: |
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Nicky
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Jun 30 2007, 08:45:13 AM Post #16 |
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Thanks I am excited but have to keep it realistic at the moment. I will let you all know what is happening so :crossfingers: . The only worry that I have is that financially we aren't really ready to buy a house yet (but then with 4 kids I am not sure if we ever will be really). Time for a chat to our friendly mortgage advisor. Nicky |
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Melibeam
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Jun 30 2007, 11:37:08 AM Post #17 |
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Most Exceptional Lady
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It looks lovely Nicky, looks like its definitely worth that money and any renovations you do would just add value. Good luck with it all :thumbsup: |
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Nicky
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Jun 30 2007, 02:06:09 PM Post #18 |
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well finances are a possibility so we are waiting to hear from the builder with a quote (he just gave us his initial impressions while we were there). It does look very nice and I am sure that the money wouldn't be lost, but it is a real risk at the moment as I know that building costs have a habit of spiralling out of control. We don't have a lump sum to cover for any unforseen problems and that bothers me and I am trying VERY hard to be sensible
:crazy: . I will let you know how it goes. Nicky |
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ohippy
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Jun 30 2007, 02:24:38 PM Post #19 |
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Original Opulent Optimist
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all the best Nicky, hope it all works out ok for you. |
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| Hevs | Jun 30 2007, 11:04:31 PM Post #20 |
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Miraculous Mamma Mod
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We got a line of credit loan and have used about half of it. Its a great loan for renos becausse you only pay interest on the money that you have taken out of the pot. For example if you borrowed $250 and paid $155k for the house, you would only pay interest on the $155 untill you began paying the builders (in dribs and drabs of course, giving you chance to budget your payments) |
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Snappy
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Jun 30 2007, 11:15:01 PM Post #21 |
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Sexy Sizzling Schmoozer
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Oooo Nicky that sounds and looks like a slice of heaven to me :thumbsup: |
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Nicky
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Jul 4 2007, 01:29:23 PM Post #22 |
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While we are waiting on the quotes from the builder we are off to look at another house today. It is ready to move in (although it does look like a posh garden shed :blink:) So we thought that we would check out what we could get if we didn't want to renovate and wanted a bit of land. http://www.realestate.com.au/cgi-bin/rsear...c&tm=1183518901 Will let you know what it is like. Nicky |
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Nicky
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Jul 4 2007, 01:30:45 PM Post #23 |
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Sounds good but do you have to have the equity in the house to begin with? The house isn't worth more than $150 at the moment but will be worth a LOT more after the renos are done. Nicky |
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ohippy
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Jul 4 2007, 03:48:59 PM Post #24 |
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Original Opulent Optimist
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I can't believe that they took a photo with all the washing hanging over the balcony - with all that land why haven't they got a clothes line ? Not as much character as the other one but, as you say, less work ! Still cheap, though, I've obviously moved to the wrong place :whistle: |
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| Hevs | Jul 4 2007, 06:20:02 PM Post #25 |
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Miraculous Mamma Mod
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No, we were in the same boat. You borrow the money for the mortgage PLUS what you think you will need. They sent a valuer round to check it out and we also asked if we could borrow enough to change our cars. Basically if you can afford what you ask to borrow they will lend it :thumbsup: |
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Nicky
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Jul 7 2007, 10:12:02 AM Post #26 |
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Who did you go through? (if you don't mind me asking). Nicky |
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Nicky
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Jul 7 2007, 10:14:04 AM Post #27 |
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Well the house was crap. It was a glorified caravan and far too small for us. Bethany wanted it because they were talking about leaving the horse there :no: so we have swiftly moved on from that. We are still waiting for the builder to get back to us though so a taste of how things would be if we went with the renovations me thinks :angry: . Nicky |
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| Anne | Jul 7 2007, 10:25:31 AM Post #28 |
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Wonderful Winsome Wench
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It just wasn't meant to be. :flowers: |
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| Hevs | Jul 7 2007, 11:14:29 PM Post #29 |
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Miraculous Mamma Mod
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We went with Wizard (cos they say why not :whistle: ) But i know that Rams do Line of credits too... |
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Nicky



ohippy


10:15 AM Jul 11