Top tips for first-time property investors

Planning, research and good management will help you enjoy your investment.

The purchase of your first investment property marks an exciting new financial phase in your life.

It may also cause some butterflies as you venture into this unfamiliar territory.

As with any first-time venture, you may well encounter some problems but here are some tips that should help you avoid, or at least reduce, some of the issues associated with being a landlord. Continue reading Top tips for first-time property investors

Make money while waiting

With many off-the-plan developments taking years to complete, buyers might want to reconsider how much deposit they put down on a flat they won’t occupy for a long time.

Under the Sale of Land Act, a deposit cannot exceed 10 per cent of the purchase price of an OTP unit but that doesn’t mean the deposit must be the full 10 per cent. Continue reading Make money while waiting

Time-saving housing code changes welcomed

The Department of Planning has removed the requirement for a development application for more types of building work, including new houses and additions on small lots and on rural properties.

It has also removed the blanket ban on quick approvals in some bushfire-prone, flood-prone and foreshore areas and will allow limited external works in heritage zones without a DA. Continue reading Time-saving housing code changes welcomed

The Final Checklist

When you can tick all the boxes, you can rest easy that your home is ready for sale.

There’s nothing like a list to provide motivation.

And when you’re about to sell a home, you need that list more than ever to get things done and give your home that special “Wow!” factor before propective buyers start knocking at your door. Continue reading The Final Checklist

Mortgage exit fees banned

Disgruntled bank customers will be able to switch home loans with impunity from the middle of next year under an overhaul of the banking sector designed to break the dominance of the big banks.

Treasurer Wayne Swan will announce today plans to ban mortgage exit fees – blamed for dampening competition by making it prohibitively expensive for customers to switch to cheaper loans – from July 1 next year. Continue reading Mortgage exit fees banned

6 Quick Things that Help Sell Your House

There are actions every homeowner should take to help maximize the chances they have to sell their house.

The following are the 6 measures that have been found to be most important when trying to sell your house.

These are things that are simple and easy to accomplish with very little or no money at all. Continue reading 6 Quick Things that Help Sell Your House

Today’s trend is dated by tomorrow

Unlike clothing, your home is built to last and styles should reflect that reality.

A trap for the unwary renovator is being seduced by what Robin Boyd defined as the mesmerism of “fashion” and remaking your home into a showcase of the latest, most up-to-datest in design, detailing and decor.

If your house looks like the cover of a “trend” magazine, you’ve possibly already dropped into this expensive pit with big-ticket items that will, in a few years, make your renovation instantly datable. Continue reading Today’s trend is dated by tomorrow

Moving is hard to do

Moving to a far-flung location can seem like a great idea at the time. Many people consider the impact that such a move will have on jobs, what style / price of house they can get and just how lovely the lifestyle will be.

But then there’s the friends and family factor. Just how hard is it to replace? Those connections that we take for granted, the drop-in chats that family and old friends can comfortably do.

Depending on your stage of life, it’s an issue that can hit home hard. When you are young and can make the move easily with a bag on your back is the time it’s probably easiest to make new friends too. Continue reading Moving is hard to do

RBA: Interest rates on hold

Christmas cheer from borrowers as RBA says official interest rates will stay on hold after last month’s shock rise.

The Reserve Bank has left interest rates unchanged, providing relief for borrowers and retailers in the crucial shopping weeks before Christmas.

The central bank kept rates at 4.75 per cent – the level it raised them to last month – amid signs of weakness in parts of the economy not benefiting from the rekindled mining boom. Continue reading RBA: Interest rates on hold

Holiday homes – bliss or burden?

A getaway shack by the sea sounds good but sometimes the numbers don’t stack up.

It’s that time of year again when Australians flock to the coast for much needed rest and recreation.

Seduced by the lifestyle, many will dream of buying a holiday home in their special magical spot – a place they can call their own.

For some the reality will measure up but for others it could turn into a financial headache.

Continue reading Holiday homes – bliss or burden?

Get real estate news, property & finance information, home DIY tips & lifestyle ideas from the team at The Property Shop, Mudgee