Stamp Duty Lowers Capacity, BUT NSW Gov Concessions for First Home Buyers

Stamp duty is a “State based” tax levied on certain transactions, including the purchase of real estate. The rate you’ll pay varies in each state and territory.

As stamp duty is a tax, you cannot borrow money to cover it, though it can accommodated for by reducing the amount of your cash deposit and increasing your home loan to cover the difference. This may mean taking out lender’s mortgage insurance (LMI) [What is Lender’s Mortgage Insurance?] to compensate for your reduced deposit.

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First Home Owners Can Now Use Super for a Deposit on a Home Loan!

In last year’s 2017 budget, the federal government introduced a new measure to help first-home buyers gain a foothold in the property market: The “First Home Super Saver” (FHSS) scheme, which lets individuals use up to $30,000 of voluntary superannuation contributions as a deposit.

It’s a little complicated but if it helps you get into the property market you might find it worth it. Here’s the important information.

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Property Search and Discovery – What’s Involved & Who Does it?

Newcastle is the Epicentre of Growth

Sydney’s high property prices have pushed first home owners and property investors further out and increased demand on regional areas. While some people are looking to move out of the city to the Central Coast or Hunter regions, property investors are looking for the next growth area to invest in like the inner suburbs of Newcastle or low priced alternatives like Morisset and Cooranbong, where it is still close enough to commute to Sydney but house prices are low and increasing.

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Improve Your Property’s Value

Renovate, update or develop

There’s an old saying about buying the worst property in the best street, and that’s doubly true for property investors. Not because you want to rent out an old slum to tenants, but because with just a few low cost modifications, you can not only increase the rental you’ll get for it, but also improve your property’s value so you can start investing again.

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Contract Exchange vs. Settlement

Newcastle Buyers Agent - property investment training course and first home buyers support - Exchange, Cooling off & Settlement

When you first agree to buy a property, your offer and the vendor’s acceptance of that offer is not binding until both buyer and seller have exchanged contracts, but you’re not finished until settlement occurs. 

There are always technicalities during this “Cooling Off” stage so it helps to be aware of the process. It can be nerve racking for first home owners.

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Windale is Redfern Twenty Years Ago — Should You Invest?

Windale near Bennetts Green one of largest Harvey Norman stores - good property investment

Bad Rap, but close to Newcastle, Beaches and Lake!

Windale, a suburb of Newcastle, is portrayed as one of the most disadvantaged communities in NSW. It has some of the highest rates of unemployment, substance abuse and social housing in New South Wales but much of the social housing has already been sold to investors and first home owners and at VERY cheap prices!

Would you kick yourself if you didn’t invest in a property in one of the closest suburbs to Newcastle at these prices?

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Verbal or Email Offers Are Acceptable But Not Binding

Offer and acceptance verbally and in writing for investment property buyers agent in Newcastle

You can make a verbal or email offer for a property, but nothing is binding until you’ve signed the contract of sale and made a deposit. A previous post [Offer and Acceptance] discussed what happens after an offer is accepted, but this time we’re going to look at some of the options you have when making an offer in the first place.

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Why You Should Invest Now in Cessnock

Cessnock is Very Cheap and Good Rent Returns

Investing in Cessnock Hunter Valley Wine Region is cheap with good rent return
There’s a lot more in Hunter Valley Wine Region and Cessnock than just wine

This March, the U.S. Federal Reserve raised the country’s cash rate a quarter of a percent, to 1.75 percent. It’s the first time in 18 years, the U.S. has raised the cash rate higher than Australia’s, which remains unchanged at a record low 1.5 percent.

If you’re still looking to invest in real estate Cessnock might be a good low risk, high return strategy

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Properties Suspected to Contain Loose-Fill Asbestos Insulation a “Material Fact”

If you know, then you need to act

A 2015 amendment to the legislation governing the sale and leasing of residential property has made any property that’s tested positive for, or even suspected to contain, loose-fill asbestos insulation (LFAI) a “material fact” that real estate agents must disclose to potential buyers and tenants [How Loose-Fill Asbestos Insulation Could Destroy Your Property’s Value].

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Secret Glendale (Newcastle) House Demolished by NSW Government without a Trace

NSW Government has a Private Public Register

The NSW Government will demolish a house in the Lake Macquarie area of Glendale, after it was found to contain loose-fill asbestos insulation (LFAI), an especially noxious form of asbestos that requires the premises to be demolished and the land remediated to eradicate the hazard. Continue reading “Secret Glendale (Newcastle) House Demolished by NSW Government without a Trace”