The thought of increasing a tenant’s rent is not something most Landlords look forward to.
Most landlords actually dread the situation, worried it may damage relations, lead to confrontation or result in a good tenant deciding to vacate the property. Continue reading Increasing the rent
The Reserve Bank has cut interest rates by 0.25 per cent.
The 25 basis point fall comes on the back of a similar cut last month. The reduction is good news for people paying off a mortgage. “This will put an extra $60 into the pockets of borrowers each month,” says Domain property expert Carolyn Boyd.
The official interest rate is now 4.25 per cent.
Each 0.25 per cent drop in interest rates slices about $60 off the monthly interest cost of an average Australian mortgage.
Boyd says, coupled with last month’s cut, the drop represents a double windfall for borrowers because if they can keep their repayments at the same level they will be able to pay down their mortgages faster.
“It’s a smart idea to keep your repayments at the same amount as you were paying before this cut, and the one on Melbourne Cup day,” she says. “That way you can pay your mortgage off sooner but have no less money in your pocket than you did last month. There’s plenty to gain here with no extra pain.”
Many lenders don’t automatically readjust repayments when rates are cut, meaning borrowers often have to simply sit back and watch their loan shrink faster when rates fall.
The ongoing eurozone crisis may force the Reserve Bank to introduce further interest rate cuts before Christmas. So if this year the RBA decides to dress up as Santa instead of the Grinch, a leading property investment group says investors need to reconsider their financial position to make sure they capitalise on the move. Continue reading Tips to maximise your position should rates fall
Profits and peace of mind await young investors.
Buying a property in your early 20s is one of the smartest decisions you will ever make. Not only will you get a jump-start on building wealth, you also won’t be left struggling to pay off a mortgage later in life.
According to recent studies, the earnings of most Australians peak at the age of 48 and yet many people today still have a large home loan well into their 50s. Continue reading A portfolio with your first pay packet
Did you know that Mudgee has more heritage listed buildings than any other town in NSW?
Heritage houses are “affairs of the heart” that can ensnare passionate home owners. It’s a piece of history entrusted to you which you, in turn, will one day pass on. There’s something about walking on floorboards that are over 100 years old or being in a room where a family lived in the 1800s. Continue reading Investing in a Heritage Home
SMSF, or a self managed super fund, is a small superannuation fund created for 1 to 4 members designed to create wealth. They are suitable for individuals who want to take control of their retirement planning by investing directly and making their own decisions about what and where to invest.
Your Investment Property reports on the 10 things you should know before buying property in your SMSF Continue reading Self Managed Super Funds: 10 things you should know about when buying property
The Reserve Bank has left its key interest rate unchanged for another month, ignoring for now the gathering signs of a slowdown in global growth.
The central bank kept its cash rate at 4.75 per cent where it’s sat since Melbourne Cup Day last year.
The RBA’s decision was widely expected as the central bank attempts to weigh the threat of higher inflation from a rekindled mining boom against weaker growth for much of the rest of the economy. Turmoil on financial markets – which has knocked about 15 per cent off local share values in the past three months alone – was also not enough to prompt a rate reduction. Continue reading RBA extends interest rate pause
With all the hype around the mining industry, anyone would be forgiven for wondering where the benefits are being seen – housing markets are generally slow, consumer confidence is low and everyone is saving rather than spending.
However, the good news on the resources front is that the mining boom is real and many housing markets around the resource and agricultural regions of the country are benefiting from strong demand, which is driving up transaction numbers and home prices. Continue reading Go west to invest for best property growth prospects
Owner-occupier home loans are up, but fewer of them are first-home buyers.
The number of owner-occupiers taking out home loans jumped 1.5 per cent in July, but fewer of them were first-home buyers.
Australian Bureau of Statistics data shows the number of first-home buyers remains low and decreased by 4.4 per cent during July. The proportion of first-time buyers in the market is now the lowest for more than six years. Continue reading First-time buyers are a disappearing breed
Looking for a house? Been to an Open For Inspection (OFI) lately? It’s imperative you ask the right questions when attending an OFI.
Buying a home is one of the biggest investments you will make in your life so it’s important you get the right information from the selling agent.
Here are the Top 12 `must ask’ questions when looking through a property.
1. How big is the block/home in m2?
2. How much is the home?
3. Is the price negotiable?
4. Why are the owners selling?
5. How long has the home been on the market?
6. What are the rates? Is everything council approved?
7. Has the owner made any extensions or alterations to the home?
8. Where is the nearest public transport?
9. Where is the nearest shopping centre?
10. Are the any easements or encumbrances?
11. Are there any restrictions of any kind in the area, i.e. covenants, demolition control, EPA etc ?
12. Is there anything else I should know about the home?
Why these questions you ask? To gain further understanding of the property.
As the buyer, you need to know that the property you are viewing fits your specific criteria, such as budget, property specifications and council regulations. These suggestions will also help with future goals such as the addition of new family members, potential renovations to the property and renting it out.
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