The Australian Federal Parliament has passed the "Help to Buy" legislation, introducing a shared equity scheme aimed at assisting low to middle-income earners in purchasing homes. Key Features of the Help to Buy Scheme: Government Equity Contribution: The government will provide an equity contribution of up to 40% for new homes and up to 30% for existing homes.Eligibility Criteria: Income...
Three ways to understand the value of your property. Understanding the value of your property involves assessing several key factors. Here are three ways to approach this: Acknowledging the Land: The value of the land itself can vary based on location, size, zoning regulations, and the potential for future development. Land in desirable areas or with unique features (e.g., waterfront, proximity to...
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...
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...
The popularity of house and land packages. A house and land package is a real estate offering where you buy both a piece of land and a new home that is either already built or will be constructed on that land. This type of package is often marketed by builders or developers and offers several advantages: Convenience: It simplifies the home-buying process by bundling the purchase of land and the...
What does a property median price mean? The property median price refers to the middle value of a list of property prices arranged in ascending or descending order. It is a statistical measure used to represent the typical or average price of properties within a specific area or market segment. Property median prices, here’s what it signifies: Central Tendency: The median price represents the...
The benefits of a corner block of land. When sourcing a house and land package, there are many factors to consider. These factors can greatly differ among investors and owner occupiers, but a corner block can offer a number of unique benefits for many property buyers. In this market insight we discuss the benefits of a corner block. The benefits of a corner block A lot more natural...
Benefits of building a new home. Building a new home offers several advantages compared to buying an existing property. Here are some benefits of building a new home: 1. Customization: Design: You can design the layout and appearance of your home according to your preferences and needs. Features: Choose the specific features and amenities you want, such as energy-efficient appliances, smart...
Many modern new homes come with some fine inclusions, from sophisticated fixture & fittings to textures and colour schemes. The trend of feature walls is one of those finishing touches that can be very aesthetically pleasing. It can completely change the dynamic and feel of a room, space or home. One of the great inceptives to include a featured home is the fact they can be very cost...
Top misconceptions when buying a property. When buying a property, there are several common misconceptions that people often have. These misconceptions can lead to mistakes and financial pitfalls. Here are some of the top misconceptions to be aware of: The Bigger, the Better: One of the most common misconceptions is that a bigger house is always a better investment. While larger homes...