SA Footy

This doesn't really fit in the building a house thread (as it's a bit off topic) so thought I'd start a new thread.

Anyhoo..

I currently own a unit which is governed by strata. At our annual meeting last week, we were told that the roofing on all units needed to to be fixed and possibly replaced because the ceilings are starting to drop, which effectively could cost us a small fortune each ( 12 units)

Therefore, have thought about building.

Without going into all the boring details, if you were in this position, would you cough up and stay here, or sell up and move on.

My other problem being that it seems the market for units has died off considerably.

What to do, what to do...

get out of a strata unit & get your own Torrens Titled piece of South Australia! If you build right now, I assume you aren't a 1st home buyer, the good old government will give you $8,500. Plus if you build, it is all brand new & all your ideas & worth more finished than when you started.

plus i wont be paying $1200 odd a year in strata fees either, so that's a plus...

What are your thoughts on the current market prices on units Centurion?

Footy Chick wrote:plus i wont be paying $1200 odd a year in strata fees either, so that's a plus...

What are your thoughts on the current market prices on units Centurion?

What suburb is your unit in and how many bedrooms?

Would be hard to sell a unit right now with the grants going round. Are they looking to re-roof all of them? Going from tiled to steel or replacing exsisting with tiles?

TEX07 wrote:

Footy Chick wrote:plus i wont be paying $1200 odd a year in strata fees either, so that's a plus...

What are your thoughts on the current market prices on units Centurion?

What suburb is your unit in and how many bedrooms?

Would be hard to sell a unit right now with the grants going round. Are they looking to re-roof all of them? Going from tiled to steel or replacing exsisting with tiles?

2 bedroom at Holden Hill. Yep, they need to do them all as our ceilings are falling but not sure whether going colour bond or tiles again. That won't be decided for a little while I wouldn't think...

Footy Chick wrote:

TEX07 wrote:

Footy Chick wrote:plus i wont be paying $1200 odd a year in strata fees either, so that's a plus...

What are your thoughts on the current market prices on units Centurion?

What suburb is your unit in and how many bedrooms?

Would be hard to sell a unit right now with the grants going round. Are they looking to re-roof all of them? Going from tiled to steel or replacing exsisting with tiles?

2 bedroom at Holden Hill. Yep, they need to do them all as our ceilings are falling but not sure whether going colour bond or tiles again. That won't be decided for a little while I wouldn't think...

We just bought an investment property, its in Salisbury Heights, 3 bedroom small block for $310. New house not lived in so we get the $8500 from the gov, this is what you are competing with selling established now. If we were first home buyers we would get back an extra $15K on top of this, if we wanted to live closed to the city/river precinct its more again, this makes people who are looking at a unit lean towards a house and build currently IMO.

Footy Chick wrote:plus i wont be paying $1200 odd a year in strata fees either, so that's a plus...

What are your thoughts on the current market prices on units Centurion?

now that the grants to build have increased, it's going to make it harder to sell established properties.

Keep the unit, use it as collatoral to get a loan for your build, rent it out, get it fixed and claim the tax advantage for the cost of the fix (as well as all the other claims as a landlord).

What price range you after
What's your unit worth?
What deposit have you got
What income do you have

Lots of questions before anyone can offer any advice.

Please don't answer these questions on here.