Buying a brand new home often means signing up to a house and land package, or if you’re buying into a townhouse or apartment complex, buying off the plan.
In both instances, however, it’s not quite as simple as it sounds, as no two house and land packages or off the plan purchases are ever the same.
Continue reading “What to Look For When You Buy a House and Land Package or Off the Plan”
Once you’ve defined your search criteria and discovered great opportunities and then refined your list the next stage is purchase negotiation. Vendor’s sales agents are often skilled in the art of urgency and compression which means they’re total focus is on highest price and quickest sale, but not always in that order.
It’s good to have someone who can change the pace and begin negotiations based on your circumstances.
Continue reading “Purchase Negotiation and Settlement”
Newcastle property prices are relatively cheap
I moved to the Morisset peninsula so my family could have more time having fun in the backyard and pool. We live close to the lake, there are plenty of good schools, several shopping centres and property prices are increasing quickly.
Continue reading “Is Newcastle a cooler place to live than Sydney”
A property sales process tends to move quickly particularly when you are buying from an experienced real estate sales agent. It can also happen if you have all your finances and property checks in order and are able to move quickly yourself to secure a property.
The key consideration at this stage is that you find the best property that suits your needs and budget and that matches your criteria set in your goals!
Continue reading “Property Evaluation fine tunes the property buying funnel”
The Internet is NOT the Real World, it’s a Sales Agents World
If you’ve ever looked for property on the internet, then you know that very often things are not always what they seem. Bedrooms that appeared light and spacious online often turn out to be dark and cramped; lush gardens overgrown; that short distance to the local shops: a ten minute drive on a street signposted at 100km/hr.
Inspecting a property, especially if you intend to live in it, is an important part of the property buying process. Continue reading “Property Inspections, vetted by a buyers agent”
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.
Continue reading “Stamp Duty Lowers Capacity, BUT NSW Gov Concessions for First Home Buyers”
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.
Continue reading “First Home Owners Can Now Use Super for a Deposit on a Home Loan!”
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.
Continue reading “Property Search and Discovery – What’s Involved & Who Does it?”
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.
Continue reading “Improve Your Property’s Value”
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.
Continue reading “Contract Exchange vs. Settlement”