property market

[Nom De Plume]

How are our children supposed to get in with prices as they are?

And disclaimer, I am the problem as well.

My modest 5 bedroom house was valued at 2.2million after only paying 400k 10 years ago. The only additions I have made were an infinity pool and an additional carport for the other cars as it only had 3 car garage.

Does anyone have a solution for this?

If your home is only worth $2.2 million in today's market in Sydney then that's land value only.

And I wouldn't bother renovating. In fact those renovations you've listed were a waste of time and money.

Sydney?

https://www.realestate.com.au/sold/prop ... -138028826

There hasn't been much sold with comparable details. The link shows something similar, but no infinity pool! I also note that the linked property has been renovated, unlike yours. Given the amount of equity that you have in your house and given the mantra that 'kitchens and bathrooms sell houses', you would be wise to renovate before selling. Perhaps, you could create a 'jack and jill' bathroom between 2 bedrooms and use the 5th BR as a dedicated office, which are all the rage atm.

So, clearly I am in disagreement with Lisa yet again...

Anyways... I dont see how you are the problem. The state govt. plays a large role in supply and demand through the control of crown land.

[Trevor P]

Hi nom de plume

Thanks for the comments. I don't plan on selling as I'm quite content so ill live with what I've got and keep the cash for spending on the boat.

Kitchens go out of date so quickly...

There are a lot of "investors" that owe so much money and have so little equity that a crash will certainly burn them by the thousands...

[Nom De Plume]

Hi nom de plume

Thanks for the comments. I don't plan on selling as I'm quite content so ill live with what I've got and keep the cash for spending on the boat.

Kitchens go out of date so quickly...

There are a lot of "investors" that owe so much money and have so little equity that a crash will certainly burn them by the thousands...

Everyone is investing with cheap debt... but you are right, at some stage, when the fed finally raise interest rates, the market will correct itself.

[Trevor P]

People investing in property in Sydney are living dangerously, when the bubble bursts there will be strife.

[lisa jones]

Nope. Not if you know what to buy and how to structure your debts.

[Trevor P]

And what do you recommend is a good investment?

[lisa jones]

You don't sleep much I see. Up at all hours of the night.

For you I recommend a good investment in sleep.

[Trevor P]

You don't sleep much I see. Up at all hours of the night.

For you I recommend a good investment in sleep.

I suffer from insomnia.

Does what time I post matter?

[sprintcyclist]

You don't sleep much I see. Up at all hours of the night.

For you I recommend a good investment in sleep.

I suffer from insomnia.

Does what time I post matter?

Sometimes I have wake up at a weird time.
The nets good for that

[Trevor P]

It is, I often find myself lying awake and having a quick browse online.