Advert
Advert
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

Selling Our House. 

Yes! I think so really. Generally however for many time, or lack of it is a factor and is in your case. We do have many applications and even I'm not aware of all the criteria as I tend to only get in... Read more

2 houses for sale 

Happy to have a look, but do you have the listing ref numbers from realestate.com.au, that would really help.... Read more

RENOVATION & OR EXTENSION 

I would say, unless you can project manage, undertake decorations and some other works yourself, a typical garage second level to create a one bedroom unit is not possible for under $50k. Without know... Read more

We are selling a beautiful family home in Menora Perth WA  

I would love to help, but impossible without so much more information, sorry! ... Read more

name of painter who did Bob pent house in Darwin 

Replied below -  ... Read more

name of painter who did Bob pent house in Darwin 

I think it was 'Resurfacing Australia' we used on that unit. Yes it was a great job I agree. ... Read more

House for sale / price 

Carmel, I did have a little giggle to myself - stop panicking. 28 days on the market - RPdata says your area is normally 'an average of 99 days' If nothing happens in the next 3 m... Read more

High Voltage Powerlines 

Linda you are right the power can be measured, for your area, best start would be to ask an electrical supplier company or large firm of electrical contractors. It does affect the value of a home,... Read more

Sale of house 

Myself and the team - can only help collectively for the show, in real life I do operate a Consultancy Service that can help, however the process of any works etc. / contractors will be down to you... Read more

My parents in law home in Sorrento Victoria  

Mark how frustrating, all they want to do is get on with things and 2.5 years is crazy. I have had a really quick look, to be honest a beautiful home, in great condition but a little dated and 3 be... 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