Here's some info to help you from my 2009/10 summary:
Council Rates - $171pq
Water Rates - $142pq
Strata Levies - $482pq (Strata Title Management. Owners Strata Plan 15994)
Total - $3180 = $61pw
Electricity - $939 in 2009/10 = $18pw
First home buyers may be eligible for a $7000 grant and to be exempt from stamp duty (in this case around $8000). More details from the NSW Office of State Revenue www.osr.nsw.gov.au
A loan of $250 000 at 7.25% would cost $416pw to maintain. See the mortgage calculators (and additional buying costs calculators) at www.commbank.com.au ...or any other bank's site.
The agents have said it will fetch between $275 and $300k, and have recommended that it be auctioned. ??? I have committed to Julian Tebay of Cramer Property in Victoria St and Open House inspections are likely to start around Saturday 26 March...leading to an auction mid April??
If buying this property as an investment, and assuming a loan of $250k, you would need to subsidise it by about $100pw.
Some of the furniture and equipment could be sold with the flat, by negotiation.
The current occupant is staying until May 13th.
