The (very loooong), very long-awaited carport post..

..oopsie - my bad! 

 

Look who forgot about this blog for nearly a week.  I have been soooo busy you would not believe.  We have so many things on the go at the moment that I have just installed an app for reminders on my phone after today realising at 10.35am (after taking a lovely little walk with my trusty side kick Red Dog), that I was supposed to have been at a parent info day for prep at Poppy's new school from 9-10.30...OOPS again!  Luckily they allowed me to go in for the 2pm time slot!  My brain is fried, so I am now relying on technology to keep my appointments up to date, let's hope it works!

 

So in lieu of the Monday Slideshow and the carport post that I promised last week, I am instead combining the two (where have I written that before?...oh yeah, here, gee I am shite). 

 

It actually makes sense to do that anyway as it will be a fairly succinct carport post...so it'll kind of be a slideshow anyway.  It was a quick, but intricate re-do, that only really needs a few pictures and the odd paragraph to tell the tale.  *Edit as you will see the above lines are rubbish as once I start I can't keep it short to save myself!

 

Here's what we started with

 

 

The roof and beams were mostly ok, although there were some areas of iron that had rusted and leaked.  The main side structure and roof beams were made of beautiful (heavy) silky oak, (probably off-cuts from the house frame re-purposed some time in the early 60's) that had seen a little bit of termite damage somewhere in its near 50 year history but the side sheeting, well, that there my friends is asbestos. 

 

The awful 'A' word that makes people shriek with terror and quake at the very thought of being anywhere near it.  I am not going into a full on post about asbestos, (although I have taken a homeowners course on it, I am no expert) but suffice to say if it is in good condition and not in any way broken, damaged or exposed then - leave it well alone.  If it needs to be removed, like this shed, you need to weigh up your choices and do it properly...either by yourself taking all precautions necessary or pay someone else to do it for you.  Every council is different with their rules and it's imperative to understand everything about asbestos and its removal before you decide what to do.  

 

So the bottom line was even though the carport was doing its job...it had seen better days and needed to go.  We chose to keep the steel poles as its base and re-build it from that.  Was that wise?  Well if you go to any carport/shed company they will say no!  They have no idea how deep the poles are in the ground or how long they had been there.  So to cover themselves they will always suggest to remove it all and start again.  We chose not to as we were working to a budget.  We went against their advice and again employed tradies to do the build.  Only after all the roof and sides had been removed and we could test the poles to our best judgement, did we fully decide that the poles were ok.  If either of our tradies had at that point said 'no it's not worth it, let's put in new poles we would have.  But this old carport has been through some pretty extreme North Qld weather not to mention the odd cyclone in its lifetime, so we were pretty sure it would continue to do its job and withstand all that's thrown at it, provided it was to be re-built properly of course. Likewise the slab has seen better days and it would be nice if it was all new and shiny to match but in all honesty it wasn't in our budget and at the end of the day it seats our car tyres...that's it.  So that would be a job that could come later when the budget allowed, (by pouring a new 100mm slab over the top).

 

 

As Col had already started working again, this was my project and there ain't no way these little arms would be able to do any of this heavy lifting, so I employed a guy who lives around the corner from us called John to help me out do the heavy stuff for me!  He is an all round tradie and has just renovated a Queenslander to an impeccable standard and has so many fantastic ideas to boot.  He was super fast and had all the roofing down in next to no time.

 

Once the sheets had been removed (I didn't worry about taking photos on asbestos removal day) it was then time to start the re-build.  Again we used Phil our stair guy, and John, between them they got the new carport up and running in no time at all.

 

 

Phil trying his hand at pole dancing working hard on welding the purlins.  (Sorry Phil if you are reading, couldn't resist)

By sunset the framework was all up, notice at the back Phil decided to add two steel posts (you can see one of them in this photo) for extra strength as he felt it needed it.

At this stage John suggested that we have him come and spray paint all the steel.  We are so glad we decided to do this as it gives a much neater, polished finish.

 

We chose a Colorbond roof in Ironstone, a dark charcoal grey colour.  Even though a lighter colour would have been better to help reflect the heat that radiates from our harsh Qld sun, this carport sits under a 30ft + tall Mango tree that produces an abundance of wonderful fruit for our native Fruit Bats (or Flying Foxes) When it's mango season the fruit bats hang gaily from the tree eating to their hearts content...and are not at all worried about where they (a'hem) poop!  Are you getting the gist?

Like John, Phil works super fast but with the utmost of care and gets the job done exactly how you want it.  Before we knew it, it was all finished.  

 

We chose the same Colorbond sheets to shield off both sides at the back leaving a gap in between.  This serves two purposes, 1) it hides the current messy dead space behind area that will house chickens or an extended vege patch and both hides and gives us easy access to our garbage bins and 2) it braces the back to add much needed strength for any future cyclone conditions.  We also added an opening from the gutter for a down pipe to go into our rain tank. (See bottom picture) 

 

 

 

Likewise on the left side we added a spare piece of Colorbond to brace these sides.  Originally it was actually as a temporary fix as we would eventually look at doing steel cross beams to again strengthen the structure, but we liked the Colorbond look so we kept it.  (I have to admit I have slight issues with the fact that it leaves a gap at the top due to the slant of the roof but the cost of buying another sheet plus having it delivered just to fill the upper gap, stops me from acting on resolving these issues)

 

 

 

 

And there we have it...so after all it was a long post.  Sorry it's probably very boring in all reality but hey we love to see things evolve here and this carport although it is a boring subject matter, much like the stairs, is a very important part of the property.  With days here, even in winter, rarely going below about 25C and on an average day being upwards of 30C you need that car to be parked in the shade...period.

 

Thanks as always for reading,

K xx

Friday's Five Minute Finance: You've got to know when to hold them...

... know when to fold them, know when to walk away, and know when to run.

Source: www.musicnewsnashville.com

 

So said Kenny Rogers in The Gambler, talking about poker. And, pretty much, the same can be said for one of the most critical aspects underpinning any house renovation or purchase, and that is what decision to make on managing interest rates. Or more specifically, whether to fix  your loan, or leave it on a variable rate. I said this weeks finance piece would be more renovation/home orientated, and with interest rates so low in Australia now, I thought it would be good to prompt people to seriously consider whether the time is ripe to fix your rate and lock it in for a set period of 1 to 5 years.

 

Even though market commentary is still emphasising the likelihood of one more interest rate cut before the cycle bottoms, and interest rates eventually start marching upwards again, if you were a pragmatic individual you would probably consider that for the Australian market we are at the bottom of the cycle. In fact the bottom of the cycle was probably six months ago, and if you are making the decision as to whether to fix your rate or not, you should probably approach the equation like a blackjack player would when betting against the house. Remember that Casino's don't get to be big and rich by failing to understand the odds and letting the gamblers win, just like Banks don't get to be big and rich by failing to understand market movements in interest rates and letting mortgage owners get a better deal than the banks. The reason you like compounding interest and its effect is the same reason the banks do...

 

source: www.openbookproject.net

 

So what if you are about to start a renovation and have a sizeable loan that is going to add to your mortgage? Or you have just bought the house of your dreams and are the proud owner of a sizeable mortgage? Or what if you are halfway through paying off your mortgage? What can you do to ease the burden on interest payments and improve your odds against the house (aka the bank in this case)? My suggestion is regardless of which situation you find yourself in, get yourself into a regular habit of reviewing your home loan on an annual basis, and look for options that reduce the amount of interest you might pay. Here are a few suggestions:

• If you are thinking of going for a fixed loan, consider the benefits of locking in a rate for the next few years. Do you think that interest rates on offer from the banks will still be hovering around 5% in 5 years from now?
• If you are unsure and want to hedge your bet, you could consider splitting your loan and locking in half of the loan at a fixed rate, and half at a variable rate.
• Look beyond your current loan provider, and see what deals are on offer; there is no brand loyalty with banks - what counts is that you get the best deal.
• Once you see what options are available, go into your bank and ask them to match the rate on offer elsewhere. Do you think they really want to see you walk out the door with such a sizeable liability that still has 15 - 20 years left to run? *cough* "Computer says no..."
• Consider setting up an offset account linked to your home loan - for example if you want to keep an amount of cash set aside for emergencies (say 2-3 months salary), placing that in an offset account will reduce your interest payments as the interest will be calculated on the balance of the loan minus the amount in the offset account. eg: $200k loan with $20k in the offset account means interest is only calculated on $180k of the balance.
• If you need to free up some cash flow for a set period, and you are ahead in repayments, you might have the option to reduce the amount of principal and interest to the minimum, or switch the loan to interest only for a period of time (eg: 12 months).
• Pay the loan off quicker by making lump sum principal payments annually where allowed. Use any of the major banks online calculators to see how much this will reduce the amount you pay in interest that is non-deductible and could be put to better use elsewhere.

If you decide to do any or all of the above, make sure you research widely, seek a second opinion, and read the fine print in the financial services guide and the product disclosure document. The devil, as they say, is in the detail. Watch out for hidden fees, penalties if you switch then switch again, penalties for early payout of the loan, and/or any other hidden costs. And go into the bank and speak to a loans officer, or if you want a second opinion speak to a mortgage broker (but be aware they make their money on commission - which they will disclose to you). Unless you work in finance, resist the temptation to do this all on line, whereby you will assume the risk completely in making the decision and potentially getting it wrong.

 

But there is no time like the present to check out your finances in relation to your home loan or renovation loan, after all, what's better... $20,000 in interest in the bank's next billion dollar quarterly profit announcement, or being able to afford that new $20,000 dream kitchen you've always wanted? Because we can't all be like Clarke W Griswold and rely on that Christmas bonus or winnings at the Casino for the new pool / kitchen / house extension.

Go you good thing !!
Cheers, Col

Disclaimer: This advice is general advice only and does not take into account your individual financial situation and circumstances. You should seek independant financial advice prior to making any investment or financial decisions yourself.

Monday Slideshow (Nov #1)

Gee the weeks go quickly...it feels like only yesterday that I was sitting here writing last weeks slideshow...my word time goes fast!  Last week was as busy as! It was filled with various different appointments and activities, Reef School, outings to the beach and a few pub lunches, including one well deserved mid-week lunch date with my boy. 
 
Poor Poppy had to endure hours of sitting and waiting for me in different places from banks to dentists!  I HATE going to the dentist and when you have to find new ones every 2 years it gets really monotonous going through the same history, new x-rays and forms and new ideas of what treatment* I need etc. - BORING!!  (*I have 2 baby teeth that don't have adult teeth under them so when they are gone, they are gone!  For the last 10 years dentists all over Australia have been trying to convince me to have them extracted and then have braces for the 2 years following to close the gaps.  And for 10 years I have been telling them to politely 'get stuffed'!)   The dental surgery I have found here in Townsville is the most bizarre I have ever come across!  At this stage the jury is out on whether I really, really like it or whether I really, really dislike it.  It is very posh, and trendy.  You are taken off into different relaxation rooms prior to your consult and offered chilled glasses of water, while soothing music is played all around.  In the waiting room there is a high table with bread, spreads and jams...(see below) and see those apples on the table? Each one has a 'Smile Dental' sticker attached to it.  The ultra violet mood-down-lighting in the corridor leads you off to the consult rooms.
 

 
They also have a cute little alfresco waiting area in the perfectly shaded courtyard too.  You are given a shot glass of freshly squeezed orange juice straight after your consult to help your mouth feel 'normal' again.  But despite all this poncy stuff, they were surprisingly kind, funny and helpful and I can't fault them in what they do...so far!  I have my second consult this week, although from what I can tell all is well and I will not need anything done, I will just have to sit through the standard conversation that begins something like ....'now, we need to discuss those milk teeth....'  Yawn!
 

 Luckily Poppy did have a few distractions of her own this past week with Reef School doing a project on turtles.  So it wasn't all boring for her.

 

 

 

 Lucky T Turtle came down to play a few games with the Reef Kids

 

The turtle project coincides with the release of a turtle back into the water at Pallarenda last week.  Philip the turtle has spent a year and a half at Reef HQ recuperating so it was a huge event.  Unfortunately for us, the girls didn't get to see him swim away due to the sheer number of people there.  It was great for the cause but Poppy, especially, was devastated that she couldn't see him.  Luckily we had gone to see Philip the day before at the turtle hospital to say 'goodbye and good luck' to him with all the other Reef Kids.  Despite the sadness of not seeing Philip depart, it was all made better by the fact that it was another excuse to go down to Pallarenda Beach.  Our favourite beach and quite possibly our favourite suburb in Townsville.

 

 

 

One day we would like to live here, and although it will be quite a few years (if ever) that we can afford one of the beach front properties, even just being a street or two back from The Esplanade would be fabulous.  Check out this gorgeous house for sale right now on the seafront.  A tad (ha!) out of our price range, but the views of the ocean, Magnetic Island and of course The Hill are just beautiful...we all love.love.love Pallarenda.

 

Halloween was very quiet for us this year, it was the first year I haven't decorated the house, and as Sasha was at dance class till gone 6pm on the night itself, by the time we were home and fed it was too late for us to contemplate finding an area suitable for trick or treating.  But we shall be all sorted next year, as Townsville seems to be slowly welcoming the idea behind the night of fun and festivities.   So all we had to show for it this year was a ridiculously expensive beautiful, big pumpkin carved and lit up to keep those pesky witches at bay!

 

 

Before we knew it the weekend was upon us yet again.  Col is still studying as soon as he gets home from work each night, so that he can have bit of a break from his books on Sunday's.  But this weekend we had jobs to get on with, both in our own house and also our investment property here in Townsville. So although he had Saturday arvo away from the books he was still working hard on other stuff!  Having a Queenslander as a rental can be difficult.  There is always something to do.  Luckily for us when we bought this property 11 years ago it had just gone through a fairly big reno so we have been very lucky, and touch wood, have not had any major issues. But things like sprinklers, fly screens, locks etc can be a pain in the butt.  Our tenant here is fabulous and happily lets us do any maintenance whenever we can fit it in, so that's super handy.

  

 

 

 



 This weekend it was the sprinkler system!  You can just see this one, in the centre of the picture, going skywards! 

 

After a trip to Bunnings, and Col getting a bit of a soaking, which was hilarious most unfortunate, we managed to change out all the dodgy heads and get it working perfectly again.

 

 

 

 

It's a cute little house, we loved living here.  It is amazingly well situated and catches all the sea breezes from diagonally across towards Ross Island. 

 

There is no air-con in this house and you really don't need it.  It captures every breeze.  If it were on a bigger block, we would have seriously considered building in underneath to double the space and adding a pool to make it our forever home, but the block is just too small for our needs, and of course we want to be that bit closer to the sea.

 

 

  Next time I think we will be there for a little bit of a clean up of the beautiful, huge mango tree, and the vines that are making themselves at home on our shed and fence line.

 

 
So that's all for this Monday, I am aiming to publish an update on the last reno project we did, later this week.  The carport!  Not a pretty post but a post none the less.  Here is a re-cap of what it looked like before....

 

Nice huh!?  I am actually shuddering just looking at it!

 

As always, thanks for reading and have a great week y'all!

Kxx

Friday's Five Minute Finance: She'll be right mate...

... or, maybe she won't.

I'll be up front - this post is very boring, but the detail is necessary. I said last time I would write about personal insurance next, and so I am sticking to my word, as boring as that might be. But if you can read it through to the end, it might just kick your butt prompt you to look at what risk management you and your family currently have in place. Next week I'll be back to writing about renovation finance related stuff. So please, continue reading...

 

Australian's are on the whole generally a pretty laid back bunch. For the most part we work hard for our money, and enjoy time off when we have the opportunity to live and enjoy life with family and friends. On the exterior we  display a "she'll be right mate" or a "no worries" attitude to the things which should give us pause to ponder, however underneath that laid back exterior a lot of people wonder about what they would do if something unexpected goes wrong; and then the issue gets dismissed or ignored until she'll be right becomes 'oh shit'.  Let's face it no-one wants to talk about morbid stuff, much like writing a will, it gets put on the back burner because it is a subject that's sad and un-nerving and people just don't want to think about the worst happening.  But unfortunately 'shit happens' (just ask Forrest Gump) and when it does the very last thing you will want to be thinking about is money.  So if you do the hard yards now and get those awful subjects talked about and out in the open, and then set a plan in motion, you will be so much better off at the time when the 'oh shit' moment arrives.

Click here for the NSW Bushfire Help Guide

In my last post I covered off on general insurance, the requirement for which has been reinforced recently by the bush fires in New South Wales. It's times like this when you can call on your insurance companies to claim on building, contents and car insurance if your home and personal effects have been damaged or destroyed.

Broadly speaking, people seem better prepared for general insurance risks than they do for personal insurance risks, so today I want to briefly cover off on what personal insurance is and why it's important for you.  In essence it is insurance cover that provides financial security for your family and you in the event of death, serious injury or illness, or disablement. Broadly speaking the main categories you should consider are:
 

Life Insurance: Pays a financial lump sum benefit if the life insured dies during the term of the insurance. The idea of life insurance is to protect your dependents from a sudden loss of financial support.

Total and Permanent Disability (TPD) Insurance: This cover pays out if you become totally and permanently disabled and are unlikely to work again. It aims to provide financial assistance which will meet rehabilitation needs and associated costs, and also meet living expenses.

Trauma Insurance: This cover will provide you with a lump sum payment in the event that you suffer a specified trauma event (eg: a heart attack or cancer) and survive for 14 days (or a set period specified by the insurer).

Income Protection / Living Expenses Insurance: This cover provides a benefit that is paid after a specified waiting period, to cover up to 75% of your income, for the duration (benefit period) that you cannot work. Living expense cover is a variation of this policy designed to cover stay at home parents.

 

I often hear spouses say, 'Oh I don't need any insurance for my wife/partner as I am the bread winner in our household'.  I can totally see why they 'think' that that's ok.  But it simply isn't true.  Often that 'non-bread winner' is the person who is taking care of the children.  So if they suddenly die or are left incapable of caring for those children and you as the bread winner is out, errm 'winning bread' who is left to look after those children?  That would be no-one.  So do you as the bread winner stop working?  Of course not because you still need to earn money to care for your family.  However, if you have the right policies set up, you can manage this awful scenario much better and essentially buy time to sort out a plan for the way forward. 

I was told by the boss (Kate) that I couldn't turn this post into a mini insurance brochure, and to be fair that was never my aim.  But having seen first hand  how easy it is for people to get into financial difficulty in times of completely unexpected illness, and also having seen how easy it is to incorporate insurance premiums into your regular budget, if and when the unexpected does happen your finances are better set up to help you cope. So it makes sense to talk about it.

So if you haven't done so for a while, I'd highly recommend you pull out your policies and review your existing cover, and compare it to what is on offer these days. You might be surprised at what has changed.  And if you have no policies to pull out and review, get onto it sooner rather than later!

As I said at the start I'll be back next week with a piece about renovation finance related stuff...not sure what yet! Any ideas??

Till then - live well, laugh often, love much.

Go you good thing !!

Col

P.S. Today marks the start of Movember, aimed at increasing the awareness of men's health issues. I along with the rest of my colleagues at work have joined the challenge. If you would like to support the cause and our 'wolfpack', please click on the following link. Cheers :-)

http://au.movember.com/mospace/7474901