possoms

IMHO they just are not worth the money, I just cant justify paying for nothing more than an elaborate garden shed/shack/caravan looking thing.

our rental is on the market it was o/o $295k has been reduced $275k its fricking freezing, no insulation, has paper thin walls, grotesque wood panelling on some of the walls WTF is that all about?, the vilest tiniest bathroom and kitchen etc etc

believe me out of the rentals we viewed this was the best of the bunch and is also the cheapest on the market in this area.

the positive side is location, location, it has the most fantastic views of the bay and mountains, has a large sun room to capture these views and yep that is fantastic.

other properties in the area are in the late 300's to 500's so I know its cheap in comparison for the location but I just think given the quality of the property its over priced especially when locals tell us that these properties were selling for $35k 4 yrs ago

its also been on the market for 18 months has had 3 different agents and has failed selling at auction. Yet the vendor will not drop the price further.

The agents has agreed with us that its overpriced and wants at least 60k spending on it which brings the cost to $335k. but when we asked him what the value would be after doing it up and he said $310k

Hutch

Yea, you see that a lot round here - though house prices are that much higher anyway. What happens here is that the vendors are actually selling the block, not the house. You see the grimmest fibro sheds for sale at $300k+, not because the house is worth anything near that, but because the land is. Older properties are often on much larger blocks too - so investors buy the house & block, knock it down, spend $150k on a new house and then sell it on for upwards of $550k.

possoms

mmm I know, we can buy a block for $180k but they dont have the view this does, the thing with this property that gets me is the value after doing it up is less than they expect us to pay

Pollyana

In my experience of Tassie that's what knocks a lot of the prices higher. Places in Hobart with views over the mountain or the river are streets ahead of others with no view to speak of. I'm sure its the same everywhere, but it was very noticeable there. One side of the street, mountain views and sky high prices. Other side, view of the street behind, dirt cheap.

Hutch

Same everywhere I reckon. Up the road from here in Gerringong, there's a $100k price difference on either side of the main road, because the eastern side is on a hill overlooking the coast.

possoms

I've not seen anything dirt cheap in Hobart even the real shit heaps without views are riddiculus, its trebled since we were there last time they are plugging real rough areas as up and coming places to live but if I wanted that i'd have moved back to Rotherham.

guess you are right Hutch its the block not the house and yep we will never loose the view.

cheers

Wendy

Way I see it is, although the agent said it would be worth less if you did it up, you would get years of happiness out of it and by the time you wanted to sell, well the price will have gone up (that's assuming you don't want to sell in two years or so obviously). Plus he may be wrong, he is an estate agent after all

The house can be fixed up, the view is what you will be buying.

ozboy

House prices used to be cheap in Tassie 10 -15 years ago but recently they are catching up tp the mainland.

possoms

yeah I know you are right Wendy its just hard handing the money over.

oh I dont know what we should do, if they end up building that bloody pulp mill the whole north of tas could be worthless. maybe we should just keep renting after all

Wendy

I know, it broke my heart to have to give the guy who sold us this house, our savings.

If you're not sure then I'd say don't buy, at least not yet. If it was right you'd know

annqldau

Seems cheap compared to Brisbane prices for the view you describe but then prices everywhere have gone up in last few years.

Buy it and pull it down and put a nice house on it.

possoms

aye but this is tas not Brisbane you cant really compare it

bloody hell mate then we would have spent about 500k on it

annqldau

But that's a normal mid range house Bris way. And the cheap price you say is the same as a cheap price around here except you get way better views chucked in.

Tracker

Try buying a house with land and a view in the uk it would be double that price.

I think some people come to oz expecting to be given everything.

annqldau

Quite agree. I drive past plenty of varying nice views, although not on the awesome scale of lake district or NZ or Taz but, still nice but for sitting watching I like a bit of activity in my long term view so don't mind trees with birds and animals at half the price.

I had to look hard for what we did get as lots of properties with nice land had sh*t houses.