Buying off the plan allows you to purchase a new property before it exists, providing you with the ability of only paying a 10% deposit and nothing else until the property is built and ready to settle. One of the notable benefits of buying off the plan is “buying more time”. During the construction phase you can continue saving additional money that could be used to contribute a larger property...
Can Owners Corporations restrict Airbnb? Recent rulings at VCAT have closed some doors but opened others for Owners Corporations looking to exert greater control over Airbnb and other short-stay platforms. A recent case involving a building in Doncaster confirmed that the Owners Corporation cannot implement rules which ban short-term rentals. However, the ruling did acknowledge some of the other...
Melbourne was voted as the “World’s Most Livable City”, 6 years consecutively, according to the Economist Intelligence Unit. This year in 2018, it was ranked second. By 2030, its anticipated the population will exceed Sydney as the most populated city of Australia. There are a few reasons why the Melbourne property market is expensive, and perhaps deservedly so. These are the reasons why it...
If you already have your home paid off or own an investment property, we dare say you are off to a great start! However many can fall complacent or become distracted with other important things such as work, raising a family etc… If you tick one of these boxes, perhaps it’s time for a financial review. We have helped many successful investors expand their property portfolio. In many cases we have...
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...
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...
Many of us fall into the category of buying a new property before your existing home has been sold. A bridging loan bridges the gap between securing a mortgage for a new property before an existing property is sold. It's very exciting when upgrading your home, but if it's subject to selling your current property, it can be an anxious and stressful wait. Aligning these two timelines to match can be...
It’s an exciting time buying a property. We have been lucky to witness many types of buyers succeed with property. However many have differing views and objectives. Regardless if you are a first home buyer, investor or owner occupier, there are some important questions you need to ask yourself before buying a property. Before buying, here are three questions that suit all buyers. 1 - How much money do I...