lending to anyone who asks for a home loan is a sure thing for future troubles.
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in Adelaide, South Australia things have been a bit different - at least to my understanding.
about 8 yr ago my brother bought his home for $70k, today its worth about $250k and he's only done some basic improvements.
Land value has gone through the roof and its because the new areas that are being created are sold in a group of a few large blocks, so no sooner are the homes finished being built and they are all sold off in advance due to demand.
once nearly every home is sold they then start work on a new area. it keeps demand and supply at a sustainable level.
me + the kisses (missus) have just purchased our first home only a few blocks from my brothers and we move in about 10 days time.
The amount of paperwork and checks we had to go through was pretty painful and to be honest in the end it took the fun out of buying a house.
I think they checked everything except, luckily for me, my prostate
and by now its just a case of wanting it over and done with already so we can settle down in the new joint.
i hate living out of box's before and after a move, and will be so glad when we can settle in.
i told the kisses we aint moving for another 20yr which is when this should be paid for.
[edit on 26/7/08 by Obliv_au]


