Hello All!
I just joined up to these wonderful forums. The wealth of info and advice here is a fantastic source. So thanks to those who run the site.
I'm from melbourne and about to enter the property market for the first time this year. I have one eye on the rentals and one on the buying market. It's proving to be very slim pickings on both sides.....
Today I saw a place for sale in a good location but the place was a dump. Plus it had no driveway or garage. I was wondering what the procedures were to get a driveway done in the street. I assume there are council applications and red tape to go through ..???
Anyway it got me thinking about the place and the choice people have to make. is a good location a good buy even if it requires a rebuild?
I'd have just enough money to buy it, but not enough to do the rebuild. Otherwise I could buy a better home (in a diff location) that's cheaper but the location would suck. ...and that would add other expenses in the long run. ie. more petrol/driving....longer work commute etc.
it's a very tough choice to make.