Browse Forums General Discussion 1 Nov 19, 2009 1:16 pm Im still house hunting and have narrowed my search to a few properties. The last brick house after inspection revealed to many signs of ageing and a poor road side (truck route) location. I want something that may not necessarily be perfect but something that I can make what i call perfect! This is the house im most keen on: http://www.realestate.com.au/cgi-bin/rs ... 1258597889 With this property im aware that if i am to purchase there is a lot of work to be done with re-plastering, ripping up carpets, painting, new kitchen, new bathroom. The outside of the property is in ok shape. My question is keeping in mind the above mentioned how much would you pay for this property? Advertised at 128,000 im thinking of throwing an offer in an offer of 115,000 as i know the property has been on the market for a while. This is a reasonable offer whether or not the owner thinks so considering the work that needs to be done to the property. With the owner keen to sell I can see the harm in it! Re: What would you pay? 2Nov 19, 2009 1:20 pm Far out that is cheap.. what is the catch? Where you are coming from is where you are going to... Re: What would you pay? 3Nov 19, 2009 1:24 pm onc_artisan :shock: Far out that is cheap.. what is the catch? 250 km north west of Melbourne.... mmm....donuts Homer Simpson 1956- Links: Site Costs Ready Reckoner | H1 Addiction Medical Advice | Château TDL: The Backyard Re: What would you pay? 4Nov 19, 2009 1:30 pm is that not a good thing TDL ?? Where you are coming from is where you are going to... Re: What would you pay? 5Nov 19, 2009 1:37 pm I really like it, it's very quaint looking and like you said the outside looks ok, it has a fairly new fence by the looks of it. I would go in at $110k and move up from there, because the owner may be desperate to sell. If you end up at $115k then so be it, at least you tried! and if you end up saving a few grand it would go towards the cost of the renos Just curious, do you plan to renovate and live in it, sell for profit or rent it out? Blog: http://bluemistkids.blogspot.com "Never be afraid to try something new. Remember, amateurs built the ark, and professionals built the Titanic." Re: What would you pay? 6Nov 19, 2009 1:46 pm 250km isnt far enough for some of us! But yes the location is the catch! a small country town with 2500 people and not much else is the location! Thanks Hel i like your theory. 115,000 isnt outrageous for the house as it is very sizey. I do plan to live in it while i renovate with no intention to sell it on or rent it out. The house market here is very stale as this has been on the market for a long period of time. Re: What would you pay? 7Nov 19, 2009 2:08 pm onc_artisan :wink: is that not a good thing TDL ?? I knew someone would bite...hey I'm currently working 300 km east of Melbourne. And if I had the money I'd buy here...country prices...city rents... mmm....donuts Homer Simpson 1956- Links: Site Costs Ready Reckoner | H1 Addiction Medical Advice | Château TDL: The Backyard Re: What would you pay? 8Nov 19, 2009 3:21 pm Ok so I am building but only because I could not find an existing property to my taste.... While putting in offers on many houses and being unsuccessful in Melbourne I gave up - This house you are looking at however you might just be lucky. The price 128,000 is not a plus price it is an asking price - therefore you can put an offer in and any reasonable offer will be forwarded to the owner to decide - Then the real estate agent will try to negotiate you up if the owner wants that. If they are desparate they will probably snap up $115,000 but you should stick to what you feel is the right price for the home do some research on the area and find out what other properties sold for. Then you will have an indication of what this is worth. Kel Building in Mooroolbark! Building permit: 21.10.09 Site Start: 12.11.09 Slab 23.11.09 Frame completed 18.12.09 Roof completed 15.01.10 Lock up 05.03.10 Fixing : 30.04.10 Handover: 11.06.10 Blog: http://kelnryan.blogspot.com Re: What would you pay? 11Nov 21, 2009 7:28 pm I'm assuming you've had a look at other properties for sale and sold results in that area? That'd surely give at least some idea how much this one's really worth in comparison, eh? I don't think the price is ridiculously cheap for how far out of Melb it is. I say if you have a good feeling about it, go for it! And good luck! How the hell did I become a senior member!? I know nothing! Bought in Nov 21 at the height of the market (classic). 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