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...
We work hard to earn our income and we are all very careful how we spend it. Many successful investors spend a little and save a little. In modern times, we are spoiled for choice when it comes to investing. Why does property investment remain the most popular? Is property the best investment? Let’s explore the basis why property investment is widely the most popular in Australia. Millionaires love...
An expression of interest is the first step in the buying process for real estate. As buyers advocates, this initial stage is where you place an official holding reservation on a property. The expression of interest sets out the proposed details including the terms & conditions of the offer, purchase price and time frames to act. It is a non-binding offer and does not in itself constitute a...
Bad credit. It doesn’t have a fine ring to it, but it’s an important topic to highlight. Obtaining a home loan has become more difficult as the banks alter their lending criteria. Becoming aware of having bad credit is more important than ever. Bad credit history can linger for many years, restricting you from lending the right loan or possibly any loan for that matter. So, here’s what you need to...
Investing in property is very rewarding. It's ability to provide you with tax benefits is quite an appealing incentive to many. A successful property investor will focus on maximising their returns by aiming to increase their income through rent, review the potential capital growth, but also taking advantage of capitalising on the tax incentives provided in property investing. As the financial year has...
How to prevent condensation this winter t's critical to maintain your investment property. It attracts good tenants, but also influences the income you earn (rent) and the capital growth over time. Certain parts of the year can require your attention. Melbourne is certainly in the middle of the winter season and the weather has been very cold. One sneaky concern arises with these cold mornings, and that's...
A Sunset Clause is a common condition included within a Contract of Sale when purchasing a property off-the-plan. It's a common term discussed among friends, but we want to help you understand that this isn't a 'bad term'. Many take this as problematic issue when buying. Sunset Clauses are usually included as a way of protecting the interests of both parties when it comes to a sale. What is a Sunset...
Overcapitalising - How to avoid this problem. This is a very common word used in both the finance and real estate industry. Many investors and owner occupiers would also be familiar with this term. Overcapitalising is caused in situations where you pay to much on renovations or home improvements. Implementing capital improvements such as laying high quality outdoor decking, changing a gazebo into an...
What is Tax Depreciation? Tax depreciation expenses are not actual cash expenses. They are known as a non-cash entry. They are charges used to recover an asset's earlier purchase. To claim tax deductions, an investor can apply for any non-cash depreciation expenses against their taxable income. An investment property is an asset that can receive tax depreciation. This can be used to lowering the amount of...
A Section 32 and Vendors Statement are actually the same thing. It was formerly known as a Section 32 but changed to a Vendors Statement in 2014. We will discuss this further and refer it to it’s newly updated name ‘Vendor’s Statement’. The Vendors Statement outlines the information a property seller must provide prospective buyers, such as the name of the relevant planning scheme and details of...