Brimbank Gardens, Derrimut VIC

thanks bobes....does that mean that we will need to call them after Feb 18?

Which internet company did you applied before?

I have applied with TPG, Telstra and Internode

I noticed that most of the display homes at Windsor Blvd near Robinson road are being cleaned out. Anyone know if the builders sold or are planning to sell them?

I've heard a lot of bad things about buying display homes.

First was about a fella (on Homeone) who bought a display home with a pergola in the backyard. The fella didn't ask for proof of building permit for the pergola and ended up receivinga letter from the council. He had to rip it down as a result. So if anything, the buyer has to be weary about suchthings.

Second is the building integraty of the house. I know a structural engineer that works for a firm that does structural designing for big building firms. They firm has been asked by builders to "beef" up the structural integrity specifically for display home because they have had a bucket load of maintanence issues. So in theory, display homes built later would be better to buy then the current run of display homes.

The old PEET building has new occupants. Did anyone see the grass "taken" as you turn left at theroundabout going down Westminster Parkway? Looks like someone had fun.

Just wondering who's responsibility it is to put grass on our nature strip? I just called up council and they said it our responsibility? Or should it be Peet? Do I need to call Peet for this?

PEET has a contractor going around installing grass. The rule is that the contractor will lay grass only if your front yard is landscaped. I don't think you even need your house to be completed.

All in all, don't bother ringing PEET, they will just tell you that your front yard will eventually be done, like they said to me.

2 lots? As in two properties? What most people will tell you from an investment point of view is that display homes tend to be in the upper end of the price bracket (i.e. not cheap) within a suburb due to over capitalisation of the house compared to the land value. From a company/sales point of view this is not an issue because they can just write it off tax wise but for smaller investors it makes selling harder later on and the rent you will get afterwards will never be as high or comparable to the value of the home.

Display homes are generally better suited only if you are going to move in yourself and like it the way it is. As investment properties you can get better value elsewhere. One of the things you might want to look into instead is when new estates go up they also lease out the carparks. You can get information about the new estates from the head offices of the respective companies - e.g. Peet Limited, Stockland etc. The investment level is lower, and since you are earning money off the land, you can negatively gear it. In a popular estate you can sell the land fairly quickly and make a quick buck (after about 2 years) as the leasing price usually covers the interest rate at the time.

Of the two carparks next door to the ex-sales office that went up for sale recently, one had a sold sticker on it the next day after the board went up, and the other has it's sign up for about a week now, but apparently is under contract already. I know those lots were offered at ~165k in Jun 2008 with a 7% 3 year lease. Based on recent known sales, the price would be ~$320k today.

Update: Price for the contracted property indicated at about ~310k. So land in the area is about $510/m2 now up from $270/m2 two and a half years ago.

Yep, I called the agent for the contract price. It's a 600m2+ lot though, so your neighbour must be on a small lot (~400m2).