The new HomeBuyer Fund was announced by the Victorian Government on the 8th October 2021. Premier Dan Andrews revealed a $500 million scheme that’s expected to support more than 3,000 Victorians becoming home owners. This welcoming news is to improve housing affordability and to attempt further stability. Premier Dan Andrew also mentioned, “The pandemic has heightened financial pressures for...
What is stamp duty? Here is a guide to understanding stamp duty in Victoria when purchasing a direct residential property. Before purchasing a property, it's wise to assess the stamp duty implications to ensure you can afford the total cost of buying a home. What is stamp duty? In Victoria is also known by the term 'land transfer duty'. It is essentially incurred when a buyer purchases a...
The ongoing costs of keeping a property. When buying a property, there are always necessary holdings costs. Most are aware that a loan is usually part of the purchase, so paying a mortgage is a common ongoing cost. This is very true, but in this market insight we want to share with you the type of other outgoing costs are associated to owning a property. If the property is for investment purposes...
Owning property requires a big commitment. One of the key contributors to reaching financial independence is through owning property. In recent decades, many people have found pricing affordability difficult. As prices increase, its obvious than many Australians will continue to find this worse over time. There are many ways to increase your ability to afford a home, but many...
Top 10 trends when building a new house. The property market has been in high demand in recent months. Many investors and owner occupiers have been taking advantage of various government stimulus packages and buying various types of properties in different locations. At Crest Property Investments we have seen some common trends with what people are looking for when building a house and land...
Buying a small block of land in Melbourne has become widely popular over the last 5 years. Given the fact Melbourne property prices have continued to increase, its created an affordability problem for many. At Crest Property Investments we have seen a large take-up of buyers wanting to build a new house on a small block of land. This has allowed many new buyers to enter the market without heavily...
When buying property you may have come across the term ‘days on the market’. Do you really know what it means and if it’s relevant to you? In this market insight we discuss this further and provide an example to help. What are days on the market? The term days on the market refers to the number of days between the day a property is listed on the market and the day it is actually sold. If a property...
Here are some famous property investment quotes from some of the most successful people in the world. "Tough times don’t last. Tough people do" Gregory Peck - American actor. "The best investment on earth is earth." Louis J. Glickman - New York-based real estate investor and philanthropist. "As people seek to improve their living environment, there will be continuous demand for residential...
The risk of underinsuring your property. Unfortunately its well known that many Victorians don't have enough insurance cover. When it comes to property ownership, many continue to leave themselves at risk. Some underinsure because they can't afford it, other choose to save on the cost while some also feel a distrust toward insurance companies. The risk of underinsuring can leave you in a bad...
If you own a property that features an owner’s corporation, you’ll soon learn that it holds an annual general meeting (AGM). An owners corporation will discuss many matters from maintaining surplus cash to covering costs such as building insurance premiums, garden, and waste management to name a few. They are required when a property features common property areas such as driveways or a car...