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...
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...
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...
It is finally official. The Government has established a new policy called the mortgage guarantee scheme, which is aimed to help first home buyers enter the property market. The mortgage guarantee scheme will offer first home buyers the opportunity to purchase a property with just a 5% deposit subject to eligibility. The scheme will essentially boost up to 10,000 first home buyers each year on low and...
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...
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...