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...
Renting vs owning a property has some significantly differences, particularity long term. To put it in a nutshell here are some key differences between renting vs owning a property: Owning a Property: You are accumulating your own wealth. You have the ability to customise the property to suit your own needs. Most investors borrow to invest in property. The monthly loan payments are likely...
Inheriting a property isn't always an easy process. Most Australians are unsure of the actual implications of inheriting a property. There are a number of tax issues to consider when inheriting a property. The large contributor to cause implications is capital gains tax (CGT). Assessing your tax obligations is dependent on how the property was used prior to the decease passing away and what it will be...
This is a very interesting discussion. Many feel it is based on opinion, while some feel it’s the same thing. However, there is a difference between repairs and improvements. Property investors this is a snapshot for you. This will help you know what’s tax deductible and what is not. What is a repair? Put quite simply, a repair replaces a part of something that’s already there. This has occurred...
According to the The Real Estate Institute of Victoria (REIV) :- The proportion of vacant properties in metro Melbourne was 2.2% The proportion of vacant properties in regional Victoria rose to 1.6%. The weekly median rent for houses in metropolitan Melbourne was $460 a week The weekly median rent for houses in regional Victoria also rose to $350 a week. Disclaimer -...
Many successful property investors monitor their portfolio annually. They take note of their income & growth returns and look at what equity is available to expand their existing portfolio. Many first time property investors become complacent to owning one as they have limited resources to professionals who can help them. In this market insight, we take the opportunity to explain what equity means...
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....
APRA changes make borrowing easier. Post the federal election, the mood in the property market looks active and very promising. There are many good indicators that indicate we are entering a new property cycle. A move that’s going to make it easier for everyday Australians to qualify for a loan. One of those indicators is the recent announcement from Australian Prudential Regulation Authority (APRA)....
Tax time is approaching for the year ending June 2019. Now is the right time to consult your accountant and ensure your financials are in order prior to lodging your tax return. We encourage property investors to act promptly. The Australian Tax Office (ATO) has said "they’re going to be looking much closer at your tax returns this year". The ATO conducted a random sample audit identifying 90% of...