Browse Forums General Discussion 1 Oct 09, 2011 8:26 pm Hi everyone, I am new in this forum, I am planning on buying a unit in the next 2-3 months in Melbourne south East (around Bentligh or Chadstone)... So far, with my budget, I could only find places that are 30 years old or more, which makes me worried, So my question is how old a property is considered to be too old in this area?? and how should you go about deciding wether this property is worth the money or not.. Also, I am still not too sure whether I go for a unit (small town house) or an apartment, from a professional selling perspective, will that make any difference?? any reply would be highly appreciated.. Thanks in advance. Cheers Has Re: How old a house is considered old in Melbourne South Eas 2Oct 09, 2011 8:53 pm Quote: So far, with my budget, I could only find places that are 30 years old or more, which makes me worried, I know nothing of the areas of Melbourne which you are looking in. But, in many areas, there are many houses 30 or more, sometimes many more, years old. Would not consider that all that old for an established house - when deciding whether the property is worth the money or not, I would use same criteria as for a newer house - compare other sales in the area to find out what you expect to get for your money in that location - also with an older house, pay a few hundred dollars to get an inspection before purchasing - most contracts can be signed 'subject to satisfactory buliding inspection'. Then you find out if there are any major structural issues and can decide whether to go ahead or not, whether to lower your offerred price etc. Re: How old a house is considered old in Melbourne South Eas 3Oct 09, 2011 9:06 pm Thanks Helyn, really apprecaite your reply, but wont making the purchase offer subject to such conditions reduce your chancing in wining the bid for the house?? And regarding those professional inspectors, how can find one?? is it a real-estate agent? or a builder of some sort?? thanks again Re: How old a house is considered old in Melbourne South Eas 4Oct 09, 2011 10:00 pm I live in SE Melbourne and 30 years is not considered old. Our first house was built in about 1965, and was very structurally sound. No termite damage and on concrete stumps. We lived in it for 12 years before we demolished it (was way too small and not able to renovate successfully or for the right price for our requirements). It would have stood for another 40 years. I agree with Helyn and get a building inspector, I think one was recommended to us through the Real Estate Agent....but that's going back 15 years! Henley - Wilshire Mk 3 ... I love my house!! Site start: 4th Feb 09 Handover: 10th Sep 09 Blog: http://stormygirlscastle.blogspot.com/ Build Thread: viewtopic.php?t=7166 Re: How old a house is considered old in Melbourne South Eas 5Oct 10, 2011 7:38 am Quote: really apprecaite your reply, but wont making the purchase offer subject to such conditions reduce your chancing in wining the bid for the house?? Well, yes, I suppose so - but is worth the risk IMO - you dont want to be the successful buyer for a house only to find out the roof needs urgent replacement or house needs expensive re-wiring etc And at present, in my area anyway, we are in a buyers market, so shouldnt hurt your chances too much. Also, in SA, if you have signed subject to x condition, the house will be 'under contract' so no-one else can put an offer in until your contract falls through - a common enough event when 'subject to' conditions are not met. For example, 'subject to finance' and buyer cannot get said finance. this is in SA, am not sure of real estate protocol in other states. Also, when you say 'winning bid' - if you are buying at auction, you cannot put in 'a subject to' offer - so, you must have finance sorted already, any inspections done beforehand etc - personally would stay away from buying at auctions, but that's just me. Re: How old a house is considered old in Melbourne South Eas 6Oct 10, 2011 9:09 am Thanks Helyn, and thanks Stormy, Your response is very much appreciated.. and you gave me enough ideas to consider when making decision.. Thanks again and wish you a great day Cheers Has Keen to hear from people in the area who have got KDRB done on whom they got the build from? Looking for recommendations. Thanks 0 21115 Well these guys are not looking good... I sent them a written enquiry last week and they have not yet replied. If they cannot respond to a simple… 4 10636 Adam Baines Grad Cert Bldg Surv / Grad Dip Bldg Surv / MSAAPA Accredited Building Professional APB20210035 Builders Lic 183023 Pest Control Lic 84868 Ph 0412202336 PO… 3 46836 |