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Apr 16

Get Into Your First Home Faster With A Family Guarantor

By Shane | First Home Buyer

Get into your first home faster with a family guarantor. It can be looked at as a no deposit home loan because you can have a family member to go as your guarantor without them actually providing cash for a deposit. They can use the equity in their family home as a guarantee.

The family guarantee allows parents and immediate family members to use their own home’s equity to provide additional security for a portion of the loan amount. It offers a solution which is particularly useful for first time home buyers. Not only that it reduces the loan to value ratio but also save you a significant amount of money by avoiding the need to pay Lenders Mortgage Insurance (LMI).Continue reading

Apr 14

Paying Off Your Mortgage Early… Does It Actually Make Sense?

By Shane | Fundamentals

Should you pay off your mortgage early? Does it actually make sense? It’s a very worthy question to ask and this article will help you answer that question for yourself.

Aside from thinking about whether to pay off your mortgage early or not, perhaps, you’ve also been considering about growing your wealth in the future. If that’s the case, just keep on reading. What this article can do to help you is go through a series of questions that you can ask yourself so that you can make a better assessment for your situation and make the decision for yourself.Continue reading

Apr 13

Things To Consider When Buying Your First Home Off-The-Plan

By Shane | First Home Buyer

Property developers who construct apartments, townhouses and free standing homes often put their properties for sale before they are finished and even sometimes before they begin constructing the project. This type of sale is referred to as off-the-plan in which buyers can purchase their brand new home in advance.

Should you buy an established home or is buying off-the-plan a better idea? Perhaps, it’s one of the important considerations you’ll need when buying a property. While there’s an excitement of being the first person to live in the home with the privilege to choose your floor plan and colour schemes, there are also some common pitfalls that you have to be aware of if you intend to buy off-the-plan. There are many benefits in buying off-the-plan. However, first home buyers should also be aware of the possible risks that may arise.Continue reading

Apr 12

Why You Need A Depreciation Schedule For Your Investment Property

By Shane | Investing

For many property investors, reducing tax is a key part of their investment strategy. Yet surprisingly, many investors are missing out on a major tax deduction that could save them thousands. It’s called depreciation.

Depreciation or claiming the lowering in value of items within your property or the property itself can be an ample way to lessen your tax expenses and to get the most out of your return on investment. If you’re not maximising your depreciation on your investment property, you could be missing out too.Continue reading

Apr 11

The No-Nonsense Guide To Lines of Credit

By Shane | Fundamentals

A line of credit is an arrangement made between a bank and a borrower. The bank offers a maximum loan amount to the borrower, which can be drawn upon at any given time. The borrower which can be an individual, business or government entity has the advantage of taking out as much as they want up to the maximum amount. Continue reading

Apr 10

Hidden Costs Of Homeownership: Strata Fees, Land Tax & Council Rates

By Shane | Fundamentals

The Australian dream of homeownership has for decades been seen as the foundation stone for financial prosperity. There are, however, many costs of owning a home that you just don’t see when you’re renting. As property prices stabilise and interest rates remain relatively low, there looks to be renewed interest from first home buyers entering the property market. The move to homeownership certainly makes more financial sense than renting and paying off somebody else’s mortgage, right?

Buying your own place can be a path to a solid financial future because the mortgage payments you make every month lead to an increased home equity and the rising values of home, which will eventually add to your asset. However, potential buyers who aren’t prepared for the true cost of owning a property may be shocked by the bite homeownership can take out of their wallet in addition to their mortgage payments.

So, where does your money go?Continue reading

Mar 20

Why You Need A Building And Pest Inspection

By Shane | Fundamentals

Building and pest inspections are for the purchaser to identify any potential issues including building design faults, potential safety issues including cracking or structural defects. It also includes timber pest activity. Timber pest activity is essential. It includes moisture, mould, termite, decay, and borer. These issues can unfortunately have an effect on the value of the property you’re purchasing.

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Mar 19

What Happens On Settlement Day

By Shane | Legal

When buying a new property, settlement day is the day you look forward to the most. It’s the day you pick up the keys to your new home and start a new chapter of your life – creating new memories with loved ones while also enjoying your dream home. However, settlement day doesn’t just involve picking up the keys to your new property. There are several processes that your settlement agent need to finalise on your settlement day before you can pick up your keys.Continue reading

Mar 18

Is 2017 The Year Of The Rentvestor?

By Shane | Investing

Many households have opted to rent over buying a property in the last two years and that is primarily due to affordability, investor demand, and new supply. Over the past twelve to eighteen months, housing affordability has deteriorated, making it far more expensive to buy right now. Thus, it makes renting much more attractive. Continue reading

Mar 17

Why Your First Home Often Isn’t Your Forever Home

By Shane | First Home Buyer

When you fall in love with a home, you may envision yourself living there forever. First time buyers are particularly vulnerable to this phenomenon. Lives change, however, and believe it or not, take a minute to think about who you were or where you were just 5 to 10 years ago. You may have switched jobs or even professions. Your family may have grown and your neighbourhood may no longer remind you of the place you moved into a decade ago.

This isn’t to say you shouldn’t think about the future when you consider buying your first home. It’s just a suggestion to approach the process knowing that it can be your starter home and it’s one step closer to buying your forever home.

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