Stamp duty, also known as land transfer duty, is a tax imposed by the Victorian government when you buy property in Victoria, Australia. The amount you pay depends on several factors including the property's value, the type of property, and any concessions or exemptions you may be eligible for. Key Aspects of Stamp Duty in Victoria Calculation: Stamp duty is calculated as a percentage of the...
Buying your first home is an exciting milestone, but it can also be overwhelming. Here are five tips to help first home buyers navigate the process: 1. Understand Your Budget and Get Pre-Approval Assess Your Finances: Start by understanding your financial situation. Determine how much you can afford by reviewing your income, savings, and any existing debts. Get Pre-Approved for a Loan: Before house...
What makes a near perfect walking score? A near perfect walking score indicates that an area is highly walkable, making it very convenient for residents to complete most errands and activities on foot. What is a walking score? The walking score is a number between 0 and 100 (100 representing a perfect score). Melbourne is the only location in Victoria ranked with a perfect 100, making it number 1...
What is a European laundry? A European laundry is a compact and space-efficient laundry area, typically found in European homes or apartments, where space is limited. Instead of having a dedicated laundry room, the washer and dryer are integrated into other areas of the home, such as a bathroom, kitchen, or hallway closet. The appliances are often stacked or placed side by side, and they might be hidden...
How can first home buyers utilise the current government incentives? First home buyers can take advantage of various government incentives that help make homeownership more affordable. These incentives vary by country and region, so it's essential to research what's available in your area. Here's how first-home buyers can utilize current government incentives: 1. First-Home Buyer Grants What It Is:...
Improving rental yield involves maximizing the income generated from a rental property while minimizing costs. Before assessing some opportunities and tips to improve rental yield, let's explain what it is first. What is Rental Yield? Rental yield is a key metric used to measure the return on investment (ROI) for a rental property. It represents the amount of income generated from the property as a...
What is contributing to the high cost of rent in Australia. In this market insight, we share several factors that contribute to the high cost of rent in Australia. Supply and Demand Imbalance: Many major cities in Australia, such as Sydney, Melbourne, and Brisbane, face a significant imbalance between housing supply and demand. Population growth, urbanization trends, and limited land availability...
Filling awkward spaces in your home can be a fun design challenge. Whether it's an empty corner, a narrow hallway, or a space under the stairs, there are many creative solutions to make these areas functional and aesthetically pleasing. Here are some ideas: 1. Create a Reading Nook Small Corners: Add a comfortable chair, a small side table, and a floor lamp to create a cozy reading nook. You can...
Understanding the impact of interest rate rises is crucial for property buyers or anyone with a mortgage. Here's what rising interest rates mean for you: 1. Higher Monthly Mortgage Payments How It Affects You: When interest rates rise, your lender will typically increase the interest charged on your loan, leading to higher monthly payments. If you have a variable-rate mortgage, your payments will...
Top things to do in Glen Waverley Glen Waverley is an highly populated suburb widely boosted by its schools, massive shopping centre and international restaurants. Here is a list of things to do, but in no particular order: Century City Walk Shopping Mall Century City Walk is a fantastic entertainment destination, catering to locals and visitors. The centre features a Village Cinemas, Strike...