Viewing all posts under Buying


First home owners Grants – Do they work? 30/04/13

There is talk in Victoria at the moment that we will be seeing a $10,000 first home owners grant and a reduction in stamp duty for first home buyers. I’m not going to mince words here either folks, it’s about bloody time! I just read an article Robert Larocca of REIV fame just posted about this very subject. The basis of what he had to say revolved around a tax on the group that could least afford it being unfair. When you think about it he is pretty right too. First home buyers scrimp and save to put a deposi...

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Perfect time to upgrade! 09/09/12

Property owners are now taking full advantage and cashing in on the slowdown of the Melbourne property market.  The current conditions have seen that the median price of a house in Melbourne has fallen by 5.3% to $535,000 over the 12 months to june. What this has triggered is a confidence in home owners looking to trade up as there is no longer a short fall in premium or quality properties like we saw earlier on this year. With there being more available properties of this kind on the market, it means that there ...

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Why do people use buyer’s advocates? Can’t they just buy their own place? 27/08/12

In short the answer to this question is yes. A simple answer for a simple question. Is the question that simple though? Let’s face it, for the most part it’s an accepted practice that when you are ready to go out and buy property, you head out in to the market place and target the things you want to buy. You compete against others that want to buy the same thing, and when you eventually strike a deal you get someone to lend you some money to complete proceedings. Sounds pretty simple doesn’t it? There is no ...

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To get a building and pest inspection or not? 13/08/12

When buying property one of the most common conditions that buyers place on a contact of sale is the “subject to building and pest inspection”. This clause will allow the purchaser to pull out of the contract if the they are not satisfied with the structural integrity of the building or if the building is infested and / or has been infested by pests in the past. I believe that the services offered by building and pest inspectors are a wise move for investors and homebuyers to look into when purchasing property...

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Bad? Worse??You Wish. 16/07/12

There is a lot of talk on morning Television, radio and social media about the state of the Real estate market in Melbourne and Australia. For the most part when you hear it, there is something crashing or going wrong. Occasionally there is a little good news at times too I suppose. For the most part however, doom and gloom sells. As I operate in the real estate sector I figured it was my turn to have a whinge too, rather than be the reason the sky is falling all the time. So here it goes… What about unemploymen...

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“So.. What’s the plan?” 25/06/12

Buying “off the plan” is as much about being able to see something that isn’t there, as it is about knowing what to look for. A great way to get a brand new property, without having to hand over large sums of money to the Government in stamp duty, buying off the plan, when done correctly, can get you so much more for less. But as with any great strategy, there are pitfalls for those that don’t quite know how this game is played.  Let’s look at the plusses first. Stamp duty savings:  ...

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Home Buyer Bonus Drives Market 12/06/12

The new Victorian home handout which can reach $19,500 will end this month with only the federally funded $7000 remaining in place. Although there is a lot of talk of unstable market conditions in the world economy it isn't stopping first homebuyers acting impulsively to secure the increased first home buyer handout. While many property commentators are suggesting that it may not be a good idea to purchase particularly if funds are really tight, I think it is a perfect opportunity. The Melbourne property market fe...

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Just looking? Fine I’m buying. 11/06/12

When heading out this week  to inspect that amazing property you have just found on what-everproperty.com, just take a couple of minutes to work out what it is you are going to say to the selling agent who greets you at the door with the big, brighter than the sun smile. After all, first impressions are everything you know. Part of the art of a successful negotiation is deciding on how you intend to approach the situation before actually getting into the situation. And for the record there are a number of approac...

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Home Buyers Coming Back Due To Rising Rents. 30/05/12

First home buyer activity seems to be rising again due to rents constantly creeping higher and higher. It only makes sense that when growth is slow, rents have the time to creep up. However with the most recent rate cuts and prices sitting stagnant or even dropping in select pockets buyers are dipping their toe back in the market to buy. Rising rents has forced first time home buyers to reconsider their options when it comes to living in property. New research has shown that two thirds of first home buyers are re ...

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Property Buying Tips 16/05/12

When making the decision to buy a property has been made, there are many things that must first be considered before you can start putting in offers / bidding at an auction. The first and probably the most important part of making a purchase is setting up your finance. Whether it be an investment property or a home, the finance is first and foremost. Whether or not you are going to use a mortgage broker or go straight to your current bank for a loan, it is definitely worth speaking with a finance professional whet...

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Understanding the sale 18/06/10

Whether you are purchasing a property at auction or private sale, there are strategies that can be employed to ensure that you are not paying too much for a property. It is crucial that when you are speaking with the real estate agents that you are not “led down the garden path” when it comes to the asking price, interest in the property, and accepting offers prior to auction. It is often believed by potential purchasers that the “asking price” is a good estimation of what the property is going to sell for, h...

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