Common mistakes buyers make - and how to avoid them. Buying a home is one of the biggest commitments you’ll make in a lifetime. If you can get it right the first time, you’ll obviously increase the chances of adding more properties to your net wealth. In doing so this article may help you prevent some common mistakes buyers make. You may also enjoy our article on "First Home Buyers - 5...
COVID-19 - There is some comfort for tenants. It's a confusing time for renters and landlords amid the COVID-19 crisis. The information hasn't been free flowing – but here's what we know so far. The Australian government has announced numerous stimulus packages to support the many Australian landlords and renters, but the details surrounding it remain limited. The lack of information has made many...
Co-ownership is a beneficial and affordable way for self-managed super funds (SMSFs) to acquire real estate. Superannuation law allows super fund members to co-invest within their super fund. The new Tenant in Common Exchange (ticX) provides an uncomplicated trading platform for co-owners. Until the development of ticX there was no trading platform for the sale and acquisition of tenants-in-common...
How do valuers assess a property valuation? No matter if you purchase a brand new, off-the-plan or second-hand property, we are all in the mercy of the valuer. This is less relevant for a cash buyer, but for the most part, buyers require borrowed funds to complete their purchase. This means the bank will employ a valuer of their choice to complete property valuation. There are many professionals in...
Once you have nominated your house design, floor plans, builder and received your building permit, it’s time to watch your home start building. This is a very exciting time, but it can be a nervous one if you are not aware of the build process. In this article we take the opportunity to highlight the different construction stages to minimise your nerves and help you enjoy this special...
According to the The Real Estate Institute of Victoria (REIV) :- The proportion of vacant properties in metro Melbourne remained unchanged at 2.2%. The proportion of vacant properties in regional Victoria rose to 1.7%. The weekly median rent for houses in metropolitan Melbourne increased by $20 per week from $460 in September 2019 to $480. The weekly median rent for houses in regional...
Landlord insurance is an important means of protecting your investment property. Landlords' insurance is an insurance policy that covers a property owner from financial losses connected with rental properties. The most common landlord claims are tenant related issues over non-tenant related. According to EBM RentCover the majority of insurance claims were caused through tenant-related issues. The...
When buying an investment property, the conversation around maximising returns and capital gains tax are always high on the agenda. Investment returns come in the way of rent (income) and property growth (capital growth). Rent is assessable income and taxable within the same financial year they are earned. Property growth, known as capital gains is the profit generated once the property is...
According to the latest RACV analysis here are a list of Victoria’s latest crime statistics and home burglaries. Some suburbs may surprise you… The analysis conducted by the RACV use multiple data from government officials, the Victoria Police. Statistics sourced from 2018-19 studies have been collated to identify the most dangerous and safest suburbs in Melbourne. A scary thought…The data...
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...