tmedia
Main content
Search

Andrew Winter

Property Expert

» Ask An Expert

General Queaton 

Hi Andrew,

I love your show.

I have an investment property in Reservoir Vic which I bought for $611K at the peak of the market in Nov 2009. It's a red clicker brick home with a terracotta roof tile with wooden double hung windows (painted white) built after the war with some art deco features. It's in orginal condition on 650 sqm of land.
I recieve net rent of $1355 pm with a loan of $645K. It's costing me around $1k pm after negative gearing and the property is not growing by the same rate.
Should I hold as it's a great home in a good area (27 Acheron Ave - google it to view photo's) or should I rennovate it to improve the return? i.e update the kitchen and bathroom or should I build a unit on the back to improve the return? I dont want to sell as I wont get my money back in this flat market, if I can afford to hold for the say next 20 yrs, do you think that the property will grow by an average of say 2% pa and is worth holdng for the long term? Or should I sell as it's costing me money to keep it and take a hit as I want to save the $1k pm? I'm 42 yrs old and have time on my side hopefully for it to grow?

Thanks , Rob

Answered Saturday 10 November 2012

I would love to help, but it is simply to complex to answer in this forum, if you really are stuck let me know via www.andrewwinter.com.au

Property Expert

Andrew Winter

Andrew believes if you haven’t sold your house within two months then you’re doing something wrong.

» More Questions & Answers

Earth covered house Beechworth. 

Hi maybe reapply we are looking right now. The property sounds fascinating, good luck... Read more

Yellow brick home 

Hard to say without pictures. However you've so many options today it just depends on the style and setting of the home.... Read more

House wont sell 

How frustrating, I'm sorry to say it is very common if you try to sell a new house within the first year or two of construction,unless you're in a strong rising market, you will most likely sell for a... Read more

Old Linton  

I've no idea. Have you looked on the suppliers lost for that ep on this website, contact the supplier they may know. Good luck.... Read more

Tiles on kitchen floor...  

I'm really sorry about that? However I can't link to your original question to know, maybe try again?... Read more

Requesting support for a client with selling her two houses in Ipswich, QLD  

Wow what a story! Ok please email me directly ASAP on info@andrewwinter.com.au many thanks.... Read more

Disappointed in episode  

I do see what you mean, I think it is a Melbourne couple expecting twins. They were actually stuck, job move, babies on the way and house they couldn't do anything with despite trying... Read more

Home value  

Sorry Colin, how long is a piece of string? So hard to advise you without knowing your market, your property etc. My advice is get plenty of advice from Agents plus attend 'opens' in your a... Read more

Old Linton floor tiles 

Over to you SB, I'm not sure but this style is becoming increasingly available in tile stores now. I love them! ... Read more

Old Linton 

So Old Linton hasn't sold to date, in fact it has hardly had time to sell, as this shoot was only undertaken a few months ago; with properties of this nature markets move much slower... Read more

 
 

Sign Out

Join the Conversation

Please note, LifeStyle cannot respond to all comments posted in our comments feed. If you have a comment or query you would like LifeStyle to respond to, please use our feedback form.

0 comments