The COVID-19 crisis has caused much pain to health, livelihoods and working careers. The situation has called for many changes in the way people interact. The real estate industry is set to experience many changes particularly in the way it presents a property inspection. Property inspections are traditionally conducted to show potential tenants a property to lease or potential buyers a property to...
Common mistakes buyers make - and how to avoid them. Buying a home is one of the biggest commitments you’ll make in a lifetime. If you can get it right the first time, you’ll obviously increase the chances of adding more properties to your net wealth. In doing so this article may help you prevent some common mistakes buyers make. You may also enjoy our article on "First Home Buyers - 5...
Co-ownership is a beneficial and affordable way for self-managed super funds (SMSFs) to acquire real estate. Superannuation law allows super fund members to co-invest within their super fund. The new Tenant in Common Exchange (ticX) provides an uncomplicated trading platform for co-owners. Until the development of ticX there was no trading platform for the sale and acquisition of tenants-in-common...
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...
When buying an investment property, the conversation around maximising returns and capital gains tax are always high on the agenda. Investment returns come in the way of rent (income) and property growth (capital growth). Rent is assessable income and taxable within the same financial year they are earned. Property growth, known as capital gains is the profit generated once the property is...
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...
Buying a home isn't easy and it generally requires you borrowing money to achieve this. In order to successfully obtain a loan, you need to place your financial circumstances in the best possible situation. While you don’t need to be debt-free to secure a mortgage, you still need to provide evidence that you are financial capable of borrowing money, maintain a financially responsible lifestyle can...
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 -...
It is a fine accomplishment to buy yourself a property. Regardless of the property type or the location, congratulations on an amazing achievement. As the population increases, property becomes more scarce and in demand. In recent decades, Melbourne property has increased substantially making it very difficult for many people to achieve that dream. Saving for a property deposit is one of the hardest...