Australian (ASX) Stock Market Forum

Morrison Puts Up Cost of Renovations by 16.6% or $25,000

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aus_trader said:
Knobby22, can you please expand on this point ? I understood everything else.
Thx.
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There are now judicial and financial attacks being mounted on Twitter and Facebook.
Also the President is seeking to influence them by threatening them with legislation to in effect curb free speech. The funny thing about the last point is that was an Elizabeth Warren policy.
 
Knobby22 said:
There are now judicial and financial attacks being mounted on Twitter and Facebook.
Also the President is seeking to influence them by threatening them with legislation to in effect curb free speech. The funny thing about the last point is that was an Elizabeth Warren policy.
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After Trump being censored by twitter?that is not fake news is it?
do you not see the irony, I do not care much about FB /twitter which are atrocious technically, and then targeting....
but while I understand your anger, Trump is not that likeable, take a step back
All censorship is bad, all lives are equal regardless of colour, sex, creed or even political belief...that last one could come useful for some posters here
I am so old fashioned....
 
frugal.rock said:
A check up... haha.
For the left knee or the right?
Or the lower back and the broken floating spur?
Or for the soft tissue spot further up the back?
Or, or, or....

Ok, the left knee is about to collapse.
Might as well get in the surgery queue. I hate hospitals. They make you wish you were dead.
I hate the pain though also...

F.Rock
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Well, the waiting for surgery sucks. Unless it's life threatening or unless we have private heath insurance, we can't jump the queue.

At least we have Medicare to cover the cost of seeing a Doctor, so no excuse to not book in that check up ;)
 
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frugal.rock said:
Same boat, to be able to spend the minimum $150k in a period like this, what are they thinking, while they sit on their laurels in their ivory tower finery?

With a range $150k to 800,000 to benefit, and in pandemic pandemonium, even people who may normally have the money or access to via finance, don't get to use the opportunity.

I was hoping to build a granny flat and renovate the shack and hobble along till paid off.
Finance now!?
Hahahaha, hahahaha, hahaha, hmmmm!

Is it just me?
Am I divorced from reality?
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No, I think you share the same view as most of us here. Other members also suggested if the threshold was lower, they'd consider doing an extension or renovation with the Government stimulus to assist. I would have considered as well, maybe for a bathroom reno or a new kitchen. I even know a very good licenced builder that I would have used, who has done some good renovations to friends and family.

But 150K ? Seriously, they are only targeting the higher end of society or a major home building/re-building project as @qldfrog said !
 
frugal.rock said:
Go figure.
Our mouldy house, holes in the ceiling where it leaks when it rains etc.
Imagine a fibro house metal roof, ex housing/ returned vet housing.
(Oh boy, the system doesn't look after our returned soldiers...)

So don't have the money, reluctant to even attempt finance without full time work.

When you get below the poverty line, well, let's just pretend the knee to the groin isn't painful.
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Are you a returned vet?
 
aus_trader said:
No, I think you share the same view as most of us here. Other members also suggested if the threshold was lower, they'd consider doing an extension or renovation with the Government stimulus to assist. I would have considered as well, maybe for a bathroom reno or a new kitchen. I even know a very good licenced builder that I would have used, who has done some good renovations to friends and family.

But 150K ? Seriously, they are only targeting the higher end of society or a major home building/re-building project as @qldfrog said !
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The truth is that small projects are avoided like the plague by builders.
If you’ve ever tried to get someone to even price a small project you’ll know what I mean.
The cheap end of town expect a full kitchen Reno or a bathroom reno for the price of an IKEA flat pack.

Projects under say $50 k attract those who may have a builders licence —-or not —— ( I have had a few imposters use my licence number on a few occasions ) . Competing purely on price as that’s all the clients interested.
At $150k people want to know that their money is well spent and quality becomes an important factor.
There is some profit in $150 k and under particularly well under your only working for wages.

May suit some.

But making funds available for a few months to a years work for builders makes more sense to me at least—— than a week or two. You can keep apprentices, buy and up grade equipment and have funds to expand and consolidate your business not to mention employing more staff.
 
tech/a said:
The truth is that small projects are avoided like the plague by builders.
If you’ve ever tried to get someone to even price a small project you’ll know what I mean.
The cheap end of town expect a full kitchen Reno or a bathroom reno for the price of an IKEA flat pack.

Projects under say $50 k attract those who may have a builders licence —-or not —— ( I have had a few imposters use my licence number on a few occasions ) . Competing purely on price as that’s all the clients interested.
At $150k people want to know that their money is well spent and quality becomes an important factor.
There is some profit in $150 k and under particularly well under your only working for wages.

May suit some.

But making funds available for a few months to a years work for builders makes more sense to me at least—— than a week or two. You can keep apprentices, buy and up grade equipment and have funds to expand and consolidate your business not to mention employing more staff.
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And most of the 25 grand paid for by people who won't get the benefit of, or who have no desire to participate in this.

It could be by taxation or inflation, but more probably both.
 
Is anyone aware of any organisations that do compassionate lending?
Am hoping that the portfolio brings some money (profit) back so I can pay off the $26k accrued on the credit card... banks may be interested then.

Would love to refinance the 60k mortgage, pay off the credit card 26k and still have enough to do renovation and granny flat.
To do a proper Reno, we couldn't live here whilst happening. Asbestos etc.
I probably should reduce the portfolio and pay off the card regardless, however, that really leaves the capitalisation on a 1 or 2 stock holding position.
Any thoughts or suggestions?
Cheers
 
frugal.rock said:
Is anyone aware of any organisations that do compassionate lending?
Am hoping that the portfolio brings some money (profit) back so I can pay off the $26k accrued on the credit card... banks may be interested then.

Would love to refinance the 60k mortgage, pay off the credit card 26k and still have enough to do renovation and granny flat.
To do a proper Reno, we couldn't live here whilst happening. Asbestos etc.
I probably should reduce the portfolio and pay off the card regardless, however, that really leaves the capitalisation on a 1 or 2 stock holding position.
Any thoughts or suggestions?
Cheers
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There is no such organisation, anywhere apart from Bangladesh I believe.

If I am ever in your situation I will start a Church called The Stairway to Heaven.

Tax free income, meet nice people, save souls, get to sing, possibly enter politics etc etc.

gg
 
tech/a said:
The truth is that small projects are avoided like the plague by builders.
If you’ve ever tried to get someone to even price a small project you’ll know what I mean.
The cheap end of town expect a full kitchen Reno or a bathroom reno for the price of an IKEA flat pack.

Projects under say $50 k attract those who may have a builders licence —-or not —— ( I have had a few imposters use my licence number on a few occasions ) . Competing purely on price as that’s all the clients interested.
At $150k people want to know that their money is well spent and quality becomes an important factor.
There is some profit in $150 k and under particularly well under your only working for wages.

May suit some.

But making funds available for a few months to a years work for builders makes more sense to me at least—— than a week or two. You can keep apprentices, buy and up grade equipment and have funds to expand and consolidate your business not to mention employing more staff.
Click to expand...

You do have a point with regards to the threshold, that it could be mis-used if lowered too much. So people have to do their due diligence to make sure the trades people used even for the smallest renovation is qualified and licenced accordingly.

Not all small-scale builders are dodgy. The one I know have been around a long time (passed down to 2nd generation) and they do a great job with quality guarantee and fully licenced to do major structural renovations/modifications. I am sure he has a profitable margin as a small scale builder, otherwise he wouldn't be doing it all these years I've known him.
 
I don't mind Morrison, but he is a bit too much of a moderate for me. I am more of a conservative that leans closer to the Federalist Society in the USA.
 
tech/a said:
The truth is that small projects are avoided like the plague by builders.
If you’ve ever tried to get someone to even price a small project you’ll know what I mean.
The cheap end of town expect a full kitchen Reno or a bathroom reno for the price of an IKEA flat pack.

Projects under say $50 k attract those who may have a builders licence —-or not —— ( I have had a few imposters use my licence number on a few occasions ) . Competing purely on price as that’s all the clients interested.
At $150k people want to know that their money is well spent and quality becomes an important factor.

PS Edit function is available.
There is some profit in $150 k and under particularly well under your only working for wages.

May suit some.

But making funds available for a few months to a years work for builders makes more sense to me at least—— than a week or two. You can keep apprentices, buy and up grade equipment and have funds to expand and consolidate your business not to mention employing more staff.
Click to expand...

So what you are saying, is YOUR business model does not suit budgets under $150K, that is not to say that builders/constructors can run a profitable business with projects of less than $150K.

I feel than can, if there is no possible business in construction/renovation under the price point of $150K then something is wrong.
I hope the govnuts can keep supporting you, else you are f---ked.

PS Ignore function is available

PPS There are many more industry sectors that require govnuts support than construction that will provide/create a better community for all of us to live in.
 
Your correct
I have many friends and acquaintances in the building industry.
There are small renovation companies
Two I know of in Adelaide have collapsed before COVID . There will be more.
Many make a living.

it maybe offensive for you to know that some businesses out grow small business.
It happens .

We don’t qualify for job seeker.
30 staff fully employed and for the foreseeable future.
 
satanoperca said:
So what you are saying, is YOUR business model does not suit budgets under $150K, that is not to say that builders/constructors can run a profitable business with projects of less than $150K.

I feel than can, if there is no possible business in construction/renovation under the price point of $150K then something is wrong.
I hope the govnuts can keep supporting you, else you are f---ked.

PS Ignore function is available

PPS There are many more industry sectors that require govnuts support than construction that will provide/create a better community for all of us to live in.
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The Morrison government need to understand that it won't be long before conservatives join the crazy ranks of the protesters, if we cant get the economy back on track. Don't worry about Mathias Hubert Paul Cormann; he is just a little butterfly in a hurricane!
 
I am currently doing a $150K reno in Victoria. It is in 3 stages. Stage 1 is 99% complete, just waiting on the plumber.
I rang 5 contractors and was unable to even get a sub-floor contractor to return messages to get a quote or an estimate. The 6th came to quote but was incompetent so I ended up doing the work myself.

The tiler took a little over 4 weeks to get here, squeezed it in between builders jobs to actually do a get paid on completion job rather than wait weeks for builder to pay.

The plumber, originally I waited over 2 weeks for the rough in and waited 2 weeks so for the fitout.

I am delaying stage 2 for a few reasons, one being the unavailability of trades.

Locally the building industry is too busy and has been for years. There must be a huge downturn expected.
I don't know how it is in other states, but if quiet the package should maybe apply to some states.

Secondally, I won't qualify for the $25K due to house value but will get messed around even more by trades if any significant amounts of work are generated.
 
Austwide said:
I am currently doing a $150K reno in Victoria. It is in 3 stages. Stage 1 is 99% complete, just waiting on the plumber.
I rang 5 contractors and was unable to even get a sub-floor contractor to return messages to get a quote or an estimate. The 6th came to quote but was incompetent so I ended up doing the work myself.

The tiler took a little over 4 weeks to get here, squeezed it in between builders jobs to actually do a get paid on completion job rather than wait weeks for builder to pay.

The plumber, originally I waited over 2 weeks for the rough in and waited 2 weeks so for the fitout.

I am delaying stage 2 for a few reasons, one being the unavailability of trades.

Locally the building industry is too busy and has been for years. There must be a huge downturn expected.
I don't know how it is in other states, but if quiet the package should maybe apply to some states.

Secondally, I won't qualify for the $25K due to house value but will get messed around even more by trades if any significant amounts of work are generated.
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I hear you.

Trades are generally aligned with a builder who keeps them in work.
Breaking from the builder to do outside often better paying but less
reliable private work ---if it impedes on builders time frames can cost
you a lot in terms of repeat work.

That's why you dont get anyone worth their salt looking to even price.

Its also a reason to go with a well priced builder so you get flow and a completion
date which doesn't blow out.

From quotes that have gone through from March to now its going to be a deep
hole come August. You wont be able to stop the flow of available trades.
 
tech/a said:
From quotes that have gone through from March to now its going to be a deep
hole come August. You wont be able to stop the flow of available trades.
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Heard on the radio around a month ago that the average DA approval period for my local area had dropped dramatically. My area, the council is a notorious bastard for approval timeframes, so much so, developers avoid the area... in direct contradiction to the Federal governments desire being in the Sydney - Canberra corridor.
I can envisage a few DA's getting rubber stamped without proper and due process in some areas....
 
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