All Forum Posts by: Irena Bilkova

Thanks Zach for your comments. I will check the building code or even speak to bank valuer, who should give me a better insights into the exact requirements. 

Can you turn a 2BDR into 3BDR by re-purposing a living room into a ROOM and creating a LIVING KITCHEN area?

Would this re-purposing be seen as adding an extra room for the purposes of VALUATION? Are there any guidelines I could check to see if I meet the minimum space requirements for the living kitchen?

Congratulations! What a great first deal! Wishing you all the success. 

Thank you Bear for your thoughts. Yes, I agree, if I can find a place where I can add value that'd be ideal. At this moment (based on my numbers I ran) I am more inclined to buying.

Hello everyone,

I am a newbie investor - I am just about to make my first investment decision and want to make it right - (of course!) so I can continue investing. My situation is as follows:

- I need to sort out my living situation so looking for a live in/investment property

- The city where I am going to move to is currently hot market so the property prices are high

- I have enough money saved up for a deposit so deciding whether to go into a rental or buy (this would be my 1st property in my portfolio)

- Ideally, I would like to get a property where I could increase its value by a small renovation to get some extra equity, however those properties are hard to find.

- Upon doing my numbers it works out that the monthly payment if I rent is very similar to what I would pay in mortgage repayments (20% down payment). If I buy, I am planning to rent out 1 room.

 My question is SHOULD I BUY NOW despite the property prices being so high and risk that the property prices will eventually come down again (estimating 1-2 years time) or is renting a wiser option?

Any thoughts/advice would be much appreciated!

Irena