You’ve either been saving for a while and are now ready to think seriously about buying a property, or you’ve had your own property for a while and are ready to use the equity for another purchase. Things are changing quickly in the finance market so we have outlined a summary of the current process for getting the loan green light.
Homebuyers and novice investors are being blindsided by spruikers masquerading as qualified property investment professionals, with the financial consequences dire, according to two peak industry bodies.
I am often asked what the difference between ‘joint tenants’ and ‘tenants in common’ is. This is an important distinction, as the tenancy in which you purchase a property will have future implications, particularly in the event of one tenant’s passing.
A contract of sale is a legal requirement when buying or selling a property in Australia and in most states the contract contains valuable information that can make or break your purchase. The documentation and process differs between states and territories so ensure you dig deep to get across the detail.
While the family home concession announced in the Federal Budget a few years ago was aimed at home owners 65 and over, the rampaging property prices from Sydney and Melbourne have caused a broader group of home owners to consider their options.
If a nation’s greatness is measured by how it treats its elderly and vulnerable, Australia is set to fall shamefully short.
The housing market is moving again. In the past month, national prices have climbed 0.9 per cent. What matters most to buyers (and especially to investors), along with price and value, is location.
If you are looking to renovate an investment property, you will want to consider getting a scrapping report to immediately deduct assets you plan on demolishing or throwing away.
Finally the truth is starting to come out. Unfortunately, the reality of what has been happening in the property market is worse than any of us could imagine. A recent report conducted by financial monitoring firm – Mozo – reveals the extent of poor quality builds and their impact on buyers over the past ten years.
Trying to decide whether to buy a home to live in or an investment property can be tricky. Of course, the aim should be to own the property you live in at some point but it may be quicker to invest first, and work your way into buying your home as a second or third purchase.
