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January 2014

Why it’s important you work with a reputable broker

Taking out a home loan is a life changing event and you do not want it to be for the wrong reasons. When you work with a mortgage broker your future dreams are in the hands of someone else so it is important that it is someone you can trust. Which is why working with a reputable broker should be a top priority. There has been a recent crackdown on mortgage broking fraud which has led to the banning of eight brokers in the past three months, with some being convicted of criminal offences. Often they will use fake pay …

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Positive and Negative Gearing Explained

To start gearing basically means that the investment has been acquired using finance.  Positive gearing Positive gearing is when the income coming from rent payments is more than the expenses from borrowing (such as council rates, insurance, maintenance and interest). As you are making a profit you will have to pay tax on the property. However this means that even if your investment is not appreciating you are making money. Negative gearing The opposite of positive,  the income generated from the investment does not cover the costs of borrowing. Since you are losing money you can claim the losses as …

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Is now the right time to re-sell your property?

When you are in the property market you may face a dilemma of whether to sell or hold on to your home for a while longer. It is common to get confused when the best time is to sell due to all the differing opinions. The latest figures by RP Data, a well respected property research group, for the three months from September 2013 may provide a clearer picture if now is the right time to re-sell property. Over the third quarter of 2013 only 11.1% of property re-sales nationally recorded a gross loss from their original purchase price. On …

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Has Generation Y been priced out of the property market?

The Co-op ‘Future Leaders Index’ revealed earlier in 2013 that although Generation Y wishes to have their own home eventually, housing affordability is an issue to them. Of the approximately 2,000 respondents aged 17-29 years old, 80% said that the high cost of properties meant that it’s almost impossible for them to be mortgage-free. So has Generation Y been priced out of the property market? The answer has somewhat changed over the past few months, at least according to the Housing Affordability Sentiment Index (HASI). Based on the index, Generation Y has the most positive outlook on the issue of housing …

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Purchasing a Property Together in a De Facto Relationship

A de facto relationship can be defined as a situation where two people live together as a couple without being married. Despite the not being spouses they hold the same legal rights as a marriage. If you are part of a de facto relationship there are a number of important considerations you need to make if you wish to purchase a property together: 1. Your status as tenants. You have two options regarding your status as tenants. First, you and your partner can choose to become joint tenants. This is where you share the ownership of the property. If you …

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Are you ready for retirement?

The latest research has revealed that most Australian’s are confused and unprepared about their future after work. Which is why it’s vital to plan ahead early and be ready for retirement, so you can live your later years stress free and doing the things you had always dreamed of. This is especially true for baby boomers as 86 per cent have admitted they are financially unprepared and only one in five have saved enough for retirement. It is also relevant to the younger generation as almost half do not have a good understanding about their retirement savings. Galaxy research recently …

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How to make your home attractive to buyers

There are simple ways to make your home attractive to buyers and to add value when selling. Remember that first impressions count so you need buyers to be impressed from the moment they lay eyes on the house to everywhere inside. Street Appeal 1. Front lawn and garden Keep your lawn mowed and any landscaping in well kept. A well maintained lawn shows pride in ownership and that the house has been looked after with care. Studies have shown that when the landscaping of a home is in excellent condition, it can sell for approximately four to five per cent …

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