“How much deposit do I need to buy my first home?” This is a grey area when it comes to finance. While it seems like a pretty straightforward question, it can be very difficult to get a straightforward answer. A general rule of thumb is that you should save 20% of the purchase price. This …
You could save many thousands of dollars over the term of your loan by utilising either an offset account or a redraw facility, but how do you choose which one suits you the best? The functionality of a mortgage can be determined by many things, such as; your net disposable income, financial goals and your …
The benefits of an offset account & redraw facilities Read More »
When you are buying a house, think about selling that house. No, you didn’t misread that. It is always important to keep one eye on the future when you are purchasing property. What sort of market will this house appeal to in 5, maybe 10 years, if you and your family have outgrown it? Even …
Buying a house that isn’t even built yet is a strange concept, but one that more and more Australians are embracing, as high market prices force them out toward undeveloped pockets of land. What exactly is a house and land package? The term is used by developers, to denote a kind of ‘package deal’ that …
Buying a house does not happen overnight. There is a lot of researching, dreaming and most importantly saving, that has to occur before you put the pen to paper. If home ownership currently feels like a pipe dream, it is important to make yourself a solid plan. With planning, you can turn the distant dream, …
KEY TAKEAWAY: Be realistic, do your research, get professional guidance, and save as much as you can before the time comes to buy your home. Property is hot. If you want to take a slice of the property market, here are some very important things to consider before you sign on the dotted line. TIP …
6 observations you might want to make before buying a home Read More »
Sometimes affording what you can and affording what you want are two very different things. For those looking to take their first step on to the property ladder, the word ‘compromise’ becomes all too familiar. Living inner city means a compromise on space and getting space means a compromise on location. Not anymore. Attaining the …
The way we perceive what a dwelling should look like has always been pretty stock standard. Apartments should be monolithic blocks that sit in linear progression along streets, while home interiors need to showcase uniformity throughout. But what happens when some great minds are thrown into the mix and start challenging our preconceived notions of …
Another June 30 has been and gone, and just like that *clicks fingers* the 2015/16 financial year is all wrapped up. For many – this writer included – the most (and perhaps the only) exciting thing about EOFY is tax time! Yes, unless you are self-employed, own positively-geared properties, or have sneakily/unknowingly skimped on your tax reductions throughout the year, …
KEY TAKEAWAY: The Reserve Bank of Australia strongly influences the interest rates that financial institutions charge their customers for loans. Who or what is the RBA? The RBA is a body corporate wholly owned by the Commonwealth of Australia. It is not a commercial bank and cannot provide banking facilities to the general public. However, …
How does the Reserve Bank of Australia affect my mortgage? Read More »
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