What to look for when choosing a mortgage broker. A mortgage broker is a professional that arranges mortgages between borrowers and lenders. Consulting a professional mortgage broker can be an excellent contact in helping you accumulate a successful property portfolio. There is estimated to be over 16,000 mortgage brokers nationwide. How do you source the good ones? Here are four things to look for when...
It’s widely recognised that both Melbourne and Sydney are the two largest cities of Australia. Both larger than our national capital city, Canberra. Their employment opportunities and lifestyle activities are just some of the drawing cards that make them so desirable. Sydney has been the most populous city since 1901. With this, it’s fair to say Sydney has been the largest contributor to the...
Melbourne’s median house price increases 1.4 per cent in 2018 The Real Estate Institute of Victoria’s latest data reveals that Melbourne’s median house price increased 1.4 per cent to $826,500 (from $815,000) and the unit price increased 1.8 per cent to $597,000 (from $586,500) in the 2018 calendar year. REIV President Robyn Waters said that despite low confidence, sluggish auction clearance rates...
According to the The Real Estate Institute of Victoria (REIV) :- The proportion of vacant properties in metro Melbourne as at December 2018 was recorded at 2.2%, increasing from 2.0% in September 2018. The proportion of vacant properties in regional Victoria as at December 2018 was recorded at 1.2% decreasing from 1.4% in September 2018. The weekly median rent for houses in metropolitan...
When buying an investment property, many choose this type of asset as it not only appreciated in value, it also earns us a regular income through rent. To further benefit your investment returns, retaining a long term tenant goes a long way. Here are some tips to keep a happy tenant. Prompt maintenance This is a very influential service. Tenants are often disappointed with the lack of response from...
Here is a list of 'Median Prices & Rents by Bedrooms' for Melbourne. These were last recorded as at September 2018. Naturally the chart below demonstrates that the price increases as the bedroom accumulate. The greatest increase is when you decide to purchase a 4 bedroom compared to a 3 bedroom. Ultimately on the basis that a 3 bedroom is likely a unit, Apartment or Townhouse while a 4 bedroom...
A loan pre-approval is the foundation of buying a property. One of the most important steps in the process of purchasing property is getting a loan pre-approval before you start seriously shopping. If it’s to occupy or invest, this is first step. So why obtain a loan pre-approval? A formal loan pre-approval from a lender provides you with a guideline to what you can spend. This is your maximum lending...
Is the key to saving a home deposit as simple as not buying a coffee each? Well not quite, but spending less does make a difference. The true key to saving for a home deposit is to establish a structured budget. This will ascertain your savings plan. With the implementation of a few strategies such as depositing funds in to a high-interest savings account reducing your cost of living, avoiding parking...
Taking on your first investment property can feel overwhelming and confusing. Speaking to an expert will simplify the process and ensure you take advantage of investing appropriately. Here’s a few reasons why investing at a young age is a great idea Long term investing will compound in value The greatest advantage that young property investors have is time. You have a long-time frame to buy/hold and...
Moving home is an exciting time. However once you start packing, you soon discover how time consuming and tiring the experience can be. Many of us live busy lifestyles and breaking routine can be quite stressful. Having a checklist in place will ensure your move is better structured. With structure, you'll be more relaxed and efficient. You'll be settled in your new home before you know it. When...