Skip to content Skip to main navigation

Ask RiotACT

Buying or selling? Get the right advice

Ask RiotACT: Buying in ‘old’ Dunlop

By kewlguy 24 December 2015 27

Ask RiotACT

Hi Everyone!

Can anyone share some buying advice for old Dunlop? Specifically Lance Hill Ave/Evelyn Owen Crescent?

Looking to buy a 4-bed in the area; I have a young family so I’m wondering if its worth looking there?

Thanks.

What’s Your opinion?


Please login to post your comments, or connect with
27 Responses to
Ask RiotACT: Buying in ‘old’ Dunlop
Filter
Showing only Website comments
Order
Newest to Oldest
Oldest to Newst
Vix 10:03 am 11 Jan 16

JC said :

wildturkeycanoe said :

JC said :

wildturkeycanoe said :

http://www.allhomes.com.au/ah/act/sale-residential/17-catalano-street-wright-canberra/1316871420311

Fortunately there are no land rent scheme blocks in Dunlop.

I have a friend who lives in James Harrison St, Dunlop and they are definitely on a land rent scheme…

chewi 12:09 am 07 Jan 16

mrs1948 said :

What wonderful news, ‘Chewi’, thanks for sharing that. Do you know if we will be able to choose which Telco we go with?

You will be able to sign up to a wider range of telcos for NBN access not just Telstra or a Telstra reseller. NBN access will also include a regular telephone service as well as internet access in the one package.

Maya123 11:42 am 06 Jan 16

wildturkeycanoe said :

chewi said :

wildturkeycanoe said :

For the price you pay for a 2nd hand house in the older burbs, why not snap up a brand spanking new one in Wright for less than $500,000? You get 4 bedrooms, ensuite, 2 car garage and it is brand new! Why specifically Dunlop, any particular reason?

I’m pretty sure that the 4 bedroom homes in Wright being marketed for less than $500,000 are ‘construction only on a Land Rent block’. Current UVs in Wright are around $400,000 for a 450m2 block with a four bedroom house selling for between $700,000 to $800,000.

A relatively new (10-15 year old) house in an established suburb bought under private treaty sale can make financial sense. In most cases with a new build undetermined costs arise during construction that are added to the final contract price and you also need to factor in landscaping costs.

Conversely, buying a second hand home you need to factor in costs such as renovations due to the old home needing refurbishment to spruce it up, maintenance for things such as heating, cooling, hot water, cooking appliances and electrical or plumbing faults that may break down weeks after moving in. Old fencing can need replacing or repair too as well as worn carpet and broken tiles. Landscaping from scratch can actually be a very rewarding experience as you get to design the yard to function the way you want it to and plant the things you like instead of putting up with the withered remnants of the previous owner. The pros and cons are numerous and I’m sure there are supporters for both sides of the argument.

Not all older houses are broken down slums, as you appear to indicate. Many have been looked after and require very little work. Besides, even ‘older’ Dunlop is not that old! There are new homes too that give a lot of problems. Leaking showers, roofs, etc. Perhaps the house decor might not be fully to one’s taste, but that doesn’t mean it needs altering immediately, especially when money is short. Wait until it needs repainting and then choose colours more to your taste. This does seem a modern phenomena that everything must display one’s own personality from day one, and that unless it is new it will need work. I’m showing my age here, but when I bought my first house (you mentioned Dunlop, so presume we are talking first home here) it was somewhere to get me on the housing ladder; that’s all. The house’s (much older than any in Dunlop) decor (I saw the same carpet in a pub) was definitely not to my taste, but hey, it was a first home, and as I said it was somewhere to get me on the housing ladder, and meanwhile to provide shelter and get me out of renting. That’s what a first home is. Nothing broke down within weeks of moving in…why should it necessarily! In fact, my later new house had more initial problems.
Buying an older, established house gives the owner more time to make changes, as money becomes available. And more of a chance to do it yourself to reduce costs, such as painting and landscaping.

JC 10:50 am 06 Jan 16

scarecrow said :

Dork said :

Are you happy having no home phone or internet? That’s what you will get living in Dunlop.

Don’t know what part of Dunlop you’re referring to but I’ve never had problems with internet or phone – the only issue I have is that I can’t get ADSL2+ but having said that, the speed I get is still pretty decent.

Internet ports in parts of Dunlop is limited, but phones should be fine. But even when limited, people should check every month as it changes as people move out, and occasionally Telstra do upgrades.

Also not very well known but if you push them Telstra can connect you to the Melba exchange directly through copper. It is more for ISDN lines but can be used for ADSL, but is at the limits distance wise.

JC 10:46 am 06 Jan 16

wildturkeycanoe said :

JC said :

wildturkeycanoe said :

http://www.allhomes.com.au/ah/act/sale-residential/17-catalano-street-wright-canberra/1316871420311

Yes you can get a 4 bed house + 540 sq.m of land for $439,990 in Wright according to the link above. I’m not making it up unless there is a very tiny clause somewhere saying the land is extra, but why would they call it a house and land package??

It’s not in the small print it is on the very first line:

“The MAPLE, East facing block; a 4 bedroom family home by Kolak Living available on Land Rent”

The magic words are land rent.

Sorry, my bad, I read through the rest of it and somehow skipped the bit in the very first line. It isn’t quite the house and land pacakge then is it? False advertising?
But is it really renting, when you consider all land in the ACT is rented on 100 year leases from the government? Nobody owns it outright, they just paid a few hundred thousand dollars up front for the privilege of living on the government’s land. The land rent people are simply paying it on an annual basis instead.

It is a scheme name whether it is the right terminology or not is irrelevant.

But in general the difference is non land rent scheme, called a nominal rent lease, you buy, which is also the wrong word, your land and then pay $1 per year rent, which is waived.

Land rent scheme you pay 2% of the land value, and in some case 4% year in year out. It is also harder to sell, as the buyer also has to be eligible for land rent, or there is complexity about having to convert to a nominal rent block. All depends upon when you first took the lease on your land rent scheme block. I was looking at buying an established house that was on a land rent block and it was just too complex so walked. The house, which was very nice, was on the market for well over 6 months.

Fortunately there are no land rent scheme blocks in Dunlop.

BM70 6:43 am 06 Jan 16

As stated I wouldn’t live on Lance Hill itself, too busy and speeding drivers. With Evelyn Owen just be careful also of the undesirables in the flats at the corner of Lance Hill. That being said I’ve lived here for many years and love the area and our house. You can get some very nice properties with surprisingly large blocks. Our block is well over 1000 m2 and has good views of the Brindabellas. Although we will be sadly moving later this year. Depends on what your budget is too. Not too long ago the big house on Buckmaster sold for $850k, a Dunlop record. Although in the low to mid $500’s should get you a nice property with a small block we’re hoping for around $600k because of the block size, views and everything has been renovated and updated.

scarecrow 10:47 pm 05 Jan 16

Dork said :

Are you happy having no home phone or internet? That’s what you will get living in Dunlop.

Don’t know what part of Dunlop you’re referring to but I’ve never had problems with internet or phone – the only issue I have is that I can’t get ADSL2+ but having said that, the speed I get is still pretty decent.

Related Articles

CBR Tweets

Sign up to our newsletter

Top
Copyright © 2018 Region Group Pty Ltd. All rights reserved.
the-riotact.com | aboutregional.com.au | b2bmagazine.com.au | thisiscanberra.com

Search across the site