The Foreign Investment Review Board (FIRB) is an Australian government department. They assesses applications from foreigners who would like to buy a property in Australia. FIRB makes recommendations to the Treasurer on those subject to the Foreign Acquisitions and Takeovers Act 1975 and Australia's foreign investment policy. Who needs an approval from FIRB? Foreign investors A foreign investor is...
When buying a place to live we are spoiled with choice. Do you buy a cheaper old home that needs fixing or do you pay top dollar for a newly renovated home? Building a brand new home is a particularly popular choice. This is very evident with first home buyers and owner occupiers looking to live in a home for a long period of time. Here is a list of reasons to build your own home: Longevity -...
One of the most anticipated property goals is buying under market value. But price is what you pay and value is what you get! Don't mistaken this goal to be the secret to a successful property investment. It is not... Many who approach property investment with this prime objective to buying under value, often lack the tools to fully understand what is under market value and what is not. Savvy...
The housing market in Victoria has experienced some price reductions in the last 12-18 months, but here are several good reasons why it is about to turn around and why now might be the best time to buy property. Reasons why it's time to buy property: Reserve Bank of Australia announced a 0.25 per cent rate cut in June 2019. With a further hint of seeing another rate cut as early as next month....
When it comes to property buying, there are many types and forms of real estate available. One popular type of property is the house and land package. So what is a house and land package and why is it so popular? There are two types of house and land packages You buy your vacant land and later build your home with a construction loan. Buy the house completed on the developer’s land. The second...
Buying a property can be the most rewarding experience of a lifetime. Buying an establish property or an off the plan property are two popular ways to get into the real estate market. However the process of buying established or off the plan can be quite different. Buying off the plan means that you are buying a property that has not yet been built or it’s still under construction. Ultimately you...
Victoria is rezoning 12 new suburbs to potentially house up to 50,000 people to meet the demands of our increasing population. Tim Pallas, treasurer announced that these suburbs located in Melbourne’s west, north, northwest and south east will set motion plans to build new communities. Pallas went on to say, ‘this is critical for keeping house and land packages affordable’. The new communities...
Buying off the plan allows you to purchase a new property before it exists, providing you with the ability of only paying a 10% deposit and nothing else until the property is built and ready to settle. One of the notable benefits of buying off the plan is “buying more time”. During the construction phase you can continue saving additional money that could be used to contribute a larger property...
Sometimes a lender will provide a cash substitute to the seller on the buyer's behalf, with the intention that the buyer will later pay the deposit for the property at settlement. This is known as a deposit bond. Why use a deposit bond? This can be advantageous for a buyer as it provides additional time to organise their finances before settlement. A Deposit Bond is generally a prompt way of arranging...
Bath tubs and showers. People are divided into two groups: shower lovers and bath lovers. There is no right or wrong answer but in assisting buyers purchasing brand new or off-the-plan property, many have the flexibility to choose between the two. In recent times, its becoming quite the debate. When buying an Apartment, it can be difficult to include both, but many are adding the bathtub under the...
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