澳洲Australia property Period style properties. | Sydney


在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m


Hi all,

has anyone on the forum had any experience or have anything to offer in relation to Period type properties? Particularly the maintenance of the timber type properties some of which date back to the early 20th century.

I've been looking at a number of these properties lately and in some locations I see that they can command good rental returns and can be sort after. However I'd be concerned about the possible maintenance issue.

I also know that If a property is heritage listed the cost of maintenance and the difficulties with renovations can be challenging however I can't speak from personal expericance.

I've noticed alot of these properties in Adelaide, Launceston...any thoughts??

JT  

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Weatherboards are actually easier to replace and fix than a brick property - as long as the frames are sound and are not water/termite damaged.

Makes sure the roof is of the original specificaiton material - eg slates, terracotta or metal. Some people have replaced these with cement tiles (which are heaps heavier) with nasty cave ins waiting to happen.

Electrical wiring can be a bit haphazard, and many have asbestos "add-ins" into various parts of the house.

The Y-man  

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The Y-man said: ↑
Weatherboards are actually easier to replace and fix than a brick property - as long as the frames are sound and are not water/termite damaged.

Makes sure the roof is of the original specificaiton material - eg slates, terracotta or metal. Some people have replaced these with cement tiles (which are heaps heavier) with nasty cave ins waiting to happen.

Electrical wiring can be a bit haphazard, and many have asbestos "add-ins" into various parts of the house.

The Y-manClick to expand...
Hi Y-man,

you bring up some really good points. Wasn't aware of the roofing issue or asbestos 'add-ins' so thankyou...that is sound advice and something to take on board.

I guess in considering one of these period type properties you have to also take into the consideration the trade off between the value of one of these types of properties to the target market and the fact that no building allowance will be available in depreciation although you still should receive plant and equipment and any structural improvements.

There have been a couple of areas that I've been looking at and this type of property really seems to appeal to the young professional demographic whether that be single or couples with a small family...if situated close to infrastructure.

They also seem to hold their value well depending on where they are situated.

Thanks Y-man...be interested to hear more if anyone else has any thoughts?

JT  

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Hi JT7,

We buy a number (starts with "a" ends with "lot") of these period-style properties.

Advantages are the character, pressed metal ceilings, if not pressed metal, then decorative plaster which you can paint all the details in if you have the patience (grapes & leaves mostly), timber fretwork, fireplaces, lead-light glass windows, polished timber floors etc and they are in high sales demand and high rental demand....and consequently have high CG.

You have to expect with 1880's+ properties:
1. Sometimes they do not have ant capping in some older parts of the property (and no way to put them in, now) - so yearly termite inspections are a must.
2. Gal pipes in from the street - so check rusty tap water when taps first turned on.
3. Personally I'm not too concerned about asbestos as you find that in almost every property that pre-dates 1980. You just don't break it, sand it, drill it etc...... paint it and leave it alone and it will be fine.
4. Expect some of the piers to have sunk or moved sideways (often they just sat on pads on the surface of the ground and were not 'dug in').
5. Wiring / plumbing can be old - just check 'em
6. Some of the old corrugated iron rooves have long since been replaced but with terracotta or concrete tiles. The roof timbers are often designed for the much lighter weight iron - so more timbers may be required (or not).
7. Some of the terracotta tiles may be starting to flake off underneath - just be aware.
8. Some of the mortar used in the brickwork was made using lime. This can deteriorate over time and fall out. However, easily fixed by regrouting with new 'mud'.
9. Expect some cracking in brickwork but this can expand and contract in cavity brick homes depending on the moisture content of the soil.
10. Hopper windows (wooden_) can have broken sash cords & lead weights but can be repaired. Sometimes these have been painted closed and are stuck. Don't be tempted to repalce them with the aluminum equivalent as you ruin the character.

These places often have new(er) kitchens and bathrooms and so although you won't get any building depreciation, you will get depreciation on these items.

Buy 'em and enjoy 'em and be prepared for a little higher maintenance than the newer (read 'boring') brick boxes. :p;)  

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Propertunity said: ↑
8. Some of the mortar used in the brickwork was made using lime. This can deteriorate over time and fall out. However, easily fixed by regrouting with new 'mud'.Click to expand...
Very important: Do not repoint lime mortar with a cement based mortar. Lime breathes more than cement, and a combination of the two can lead to damp problems.

http://www.homebuilding.co.uk/feature/repointing-old-brickwork

Conversely, an improperly repointed building may need remedial work, so budget for that.  

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Thanks Prop!

Propertunity said: ↑
Hi JT7,

We buy a number (starts with "a" ends with "lot") of these period-style properties.

Advantages are the character, pressed metal ceilings, if not pressed metal, then decorative plaster which you can paint all the details in if you have the patience (grapes & leaves mostly), timber fretwork, fireplaces, lead-light glass windows, polished timber floors etc and they are in high sales demand and high rental demand....and consequently have high CG.

You have to expect with 1880's+ properties:
1. Sometimes they do not have ant capping in some older parts of the property (and no way to put them in, now) - so yearly termite inspections are a must.
2. Gal pipes in from the street - so check rusty tap water when taps first turned on.
3. Personally I'm not too concerned about asbestos as you find that in almost every property that pre-dates 1980. You just don't break it, sand it, drill it etc...... paint it and leave it alone and it will be fine.
4. Expect some of the piers to have sunk or moved sideways (often they just sat on pads on the surface of the ground and were not 'dug in').
5. Wiring / plumbing can be old - just check 'em
6. Some of the old corrugated iron rooves have long since been replaced but with terracotta or concrete tiles. The roof timbers are often designed for the much lighter weight iron - so more timbers may be required (or not).
7. Some of the terracotta tiles may be starting to flake off underneath - just be aware.
8. Some of the mortar used in the brickwork was made using lime. This can deteriorate over time and fall out. However, easily fixed by regrouting with new 'mud'.
9. Expect some cracking in brickwork but this can expand and contract in cavity brick homes depending on the moisture content of the soil.
10. Hopper windows (wooden_) can have broken sash cords & lead weights but can be repaired. Sometimes these have been painted closed and are stuck. Don't be tempted to repalce them with the aluminum equivalent as you ruin the character.

These places often have new(er) kitchens and bathrooms and so although you won't get any building depreciation, you will get depreciation on these items.

Buy 'em and enjoy 'em and be prepared for a little higher maintenance than the newer (read 'boring') brick boxes. :p;)Click to expand...
Hi Propertunity...some really valuable and well founded information not only for me but for anyone on the forum thinking of investing in this type of product.

You've certainly given me a whole host of issues to take into consideration....just another example of why this forum/community is such a terrific concept and incredibly valuable.

Thanks for sharing your opinions and wisdom...its much appreciated.

JT  

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