A proxy in an owners corporation. When owning an apartment or townhouse, you may have experienced what an owners corporation does and why it’s needed. In this market insight we would like to help you understand what a proxy is and when/why they may be needed. An owners corporation is required to operate an annual general meeting (AGM) where property owners take the opportunity to discuss and vote on...
How to avoid home buyer’s remorse. No doubt everyone has experienced it in one way or another. Even the more experienced property investors feel it on some purchases. It can even come to you when buying a car, a new tennis racquet, a dress or paying for some accommodation. There are different levels of buyer’s remorse. Purchasing a $300 tennis racquet would be seen as a lower scaled level...
What can cause construction delays? Buying a property off the plan is an exciting opportunity that has suited many types of buyers for decades. You can purchase apartments, townhouses and house & land packages to name a few. When buying off the plan you’ll be given guidance around the construction timeframe and estimated completion date. Many buyers use that time to save additional money to...
When buying a property considering the importance of it's location has never been so important. Buying in a good location, you’ll have the flexibility in the future to modify or renovate the property. However buying a property in an inferior location can’t obviously be easily picked up and moved to a better area. That’s why you should consider the location carefully. Here are some of the most...
Stamp duty concession for investors. The Victorian Government through the State Revenue Office has announced a land transfer (stamp) duty waiver for purchases of Victorian residential property with a dutiable value of up to $1 million. Please take some time to view the link State Revenue Office. Stamp duty concessions - here is a snapshot: For new residential properties, a 50% land transfer duty...
Selling an off the plan property before settlement is also known as a nomination sale. At Crest Property Investments we help buyers sell their off the plan property before settlement. In this market insight we talk more about a nomination sale. If you are in a situation where you need some assistance, please don't hesitate to contact us. This video link to our Youtube channel also explains things in an...
New government incentives for buyers - here is the latest. Both the state and federal governments have worked together to stimulate the construction industry with the following incentives: HomeBuilder package The home builder package is $25,000 up until 31 December 2020. This has been extended offering $15,000 from 1st January 2021 to 31st March 2021. The be eligible for the home builder grant the...
Thinking of buying off the plan? Purchasing a brand new property can be very rewarding. Walking into a home smelling the freshly painted walls or admiring the stone surface of your new kitchen island bench are just a couple of things that make buying off the plan an amazing decision. There are many reasons why buying off the plan is a great way to purchase a property, however in the market insight...
When buying an off the plan property, its important to take note of the specifications and inclusions list. Knowing what fixture and fittings are included in the build will highlight the anticipated quality you'll expect. What are fixture and fittings? Fixture and fittings are two separate things. Fixtures are items that are secured or bolted to the walls or floor, such as lights. Fittings on the other...
At Crest Property Investments, we have been assisting buyers for many years, by sourcing brand new or off the plan properties. Our niche service as a buyers advocate also known as a buyers agent is quite different to a traditional real estate agent. Here we share the key differences between our buyers advocacy service and a real estate agent. Buyers agent: We act on behalf of the buyer We act in the...