BUILDING IN MANOOKA VALLEY CURRANS HILL

SiddoInOz · Oct 28, 2013 4:58 pm

To my knowledge no

I really thought it would be today, everything is in place bar the concrete.

SiddoInOz · Oct 30, 2013 9:17 am

John, Ash & Sue - both your benching is being done as I type

My slab went down yesterday

Looks a little higher than I was expecting, especially out the front. We'll see what how it looks once the rest of the street is poured too.

Finally getting some movement, can't wait for the frame to arrive next Friday

Wendy-Cousens20 · Oct 30, 2013 8:51 pm

Hey sounds like stage one is coming along. Is anyone On the forum in stage 2 like Hubby and me@-}--

Abe · Oct 31, 2013 1:47 pm

Hi Wendy....we're in the process of buying lot 507 in stage 2...just got our valuation for land from the bank and it came back ok...now for unconditional approval.....

SiddoInOz · Oct 31, 2013 6:47 pm

Congrats Abe, that is a nice block with some views if you go a double storey home I imagine. Are they still thinking registration to be December?

If you have any questions or are interested in a Wisdom design let me know.

I met BJ&Rose the other day, they are lovely people too - Manooka Valley is going to be such a nice community.

Abe · Nov 01, 2013 10:10 am

Hi Paul, can't afford a double storey unfortunately...yep nice views but likely to be taken up by the house across the street hehe. Registration was meant to happen already according to recent emails but I take it still trekking for this month sometime. Not fussed. Xmas is coming and it's likely to delay things so i don't mind it dragging a few months...Would love to meet you all sometime...i'll keep in touch online and see when the next get together happens...funny i bumped into Sue a few weeks ago after chatting to her father...it was a random hello to chat about his home as I was looking for suitable design...small world.

Wendy-Cousens20 · Nov 01, 2013 12:13 pm

Hey all I just got a message from the Vendor's Solicitors saying that:

Please note that the plan of subdivision was registered on 31 October 2013 and we will be sending a new contract shortly.

It must be so exciting for all of stage 1 people. Everytime we go there there are more and more houses going up or slabs being put in place.

Coral · Nov 02, 2013 10:51 pm

Hi Folks,
It has been great to read all your comments. I need your help to know what is the address for Lot 527 as am in the process of doing due diligence on it. I would also like to know:
- how much is a good/right price for House & Land package for 4/2/2 in Manooka Valley?
-is the area good for renting out?
- anyone who has done or plans to do a dual occupancy (whether as a granny flat or dual key) in the area?
- have read that it has been long wait for registering the land and even spoke to a few agents who also confirmed that they were not sure why nothing has been happening on the land or taking so long for registration.

Any insight on the above would be appreciated.

SiddoInOz · Nov 03, 2013 9:48 am

Coral

Hi Folks,
It has been great to read all your comments. I need your help to know what is the address for Lot 527 as am in the process of doing due diligence on it. I would also like to know:
- how much is a good/right price for House & Land package for 4/2/2 in Manooka Valley?
-is the area good for renting out?
- anyone who has done or plans to do a dual occupancy (whether as a granny flat or dual key) in the area?
- have read that it has been long wait for registering the land and even spoke to a few agents who also confirmed that they were not sure why nothing has been happening on the land or taking so long for registration.

Any insight on the above would be appreciated.

Hi Coral,

I work for Wisdom Homes so hopefully will be able to answer some of these for you, happy to answer any questions in person if you are ever near the Oran park display centre.

The address is going to be Manooka Road, the council will be able to give you a street number if one has been allocated.

A good price for a 4/2/2 - it is hugely dependant on the size, quality of finish and inclusions you are after (and whether it's double or single level). The land price will not change from what it's listed at so for a finished home with 4/2/2 they'll range from c.$210k - $350k+.

Rental return is a hard one to gauge currently, the area being new is currently being compared to Currans Hill for valuations and rental returns. However I'd expect a decent return of at least $20-$40 p/week premium over Currans Hill market price.

There are only a couple of lots in Manooka that have approval for dual occupancy and they are the entry lot's with 1000m2+, obviously granny flats are different and can be done on the majority - council approval and space allowing.

Stage 1 land registration was delayed 6 months+ for a variety of reasons but stage 2 is now registered I believe.

Hope this helps.

Coral · Nov 03, 2013 10:26 am

Thanks Siddo,

-I am planning to have 4/2/2 on single storey with dual key for an approx built area of 239sqm.how much will that cost?
- how much is the cost for 1bd/2bd granny or inlaw accomodation cost?
- can you provide your phone/email so i can further exchange details.

thanks.

Abe · Nov 03, 2013 11:29 am

hi coral...i'm lot 507..i've researched similar proposals and found that $220k is the cheapest 4bed you can put down unless you are the builder, but that is with little to no quality inclusions. I would suggest u speak to a local agent before planning a dual simply because it's not going to appeal to the families in the area when they can rent an older home in Currans Hill that is still nice for less than a newer property. I would think you need to differentiate the building design to attract a specific clientiele. A 60m2 granny will add anywhere between 60k to 100k.
Plus i would object to having someone with that many potential tenants in my street from the perspective your potential property provided is zoned general residential would border properties zoned environmental living where currently council has noted is 'urban edge'. That is a scenario u might encounter though you need to do your maths and speak to council and siddoz. I wouldn't be that nasty...but that might happen....

Coral · Nov 03, 2013 11:41 pm

Thanks Abe for your suggestion, it's all a part of due diligence at this stage so will take your points into consideration. Has anyone used Murphy Homes as their builder? Just want to know if anyone has had any experinece with them.

Abe · Nov 05, 2013 1:56 pm

Just got dealt a furfee!!! While valuation was okay, the assessor placed a 4 from 5 risk regards saleability due to power lines!!!Hence the finance got knocked back. Anyone with this issue who bought near lots 501-510??? I did my due diligence by speaking to an EMR (radiation) expert before hand and was told their is no scientific evidence and the testing will show no noticeable effect....hence the bank knocked in back on a perception issue and not based on facts. Not happy

(((((

Abe · Nov 05, 2013 2:37 pm

Anyone interested in Lot 507? It's going back on the market as unfortunately we can't make it happen. For those in stage 2 council has just got the latest zoning and lot 507 is not bushfire affected. We expect to try for the next stage but I guess the lots won't be as nice as this one. For the record it's a level block only 0.5degree from front to rear and a 1/2 metre in centre regards fill and excavate. If you can get the bank to approve it's a great spot.

chapo6 · Nov 05, 2013 2:59 pm

Sorry to hear that Abe, not good.

SiddoInOz · Nov 05, 2013 3:01 pm

Hi Abe, that is awful - have you tried another bank?

I have a great contact if you need one.

Abe · Nov 05, 2013 3:05 pm

We went through a broker who has access to a number of banks. Given our financial situation, their would only be a few options. But the reality is that it would still be the issue of saleability due to the power lines being a risk, and in the brokers opinion that it would the case with 80% of the lenders.

Abe · Nov 05, 2013 3:05 pm

Thanks for the concern.

chapo6 · Nov 05, 2013 3:07 pm

So what can you do now? Do you sell it back to Manooka ?

Abe · Nov 05, 2013 3:13 pm

We didn't exchange yet, only held it while we were in the process of signing off. I understand two lots have already exchanged. I just get my $1000 back and the lot goes to the next person in the queue that expressed interest in the lot. I understand that a last release of 80 lots will come in January but they won't be registered for months and they will be substantially smaller. We'll have to see what is on offer at the time and go from there...