July Sydney Property Report

July 21, 2014 Posted by Finance Detective Blog

With the financial year concluding it’s a good time to review the highs and lows for the Sydney and national property market over the past 12 months. The national market finished the year with dwelling values rising by 10.1% for the period. Sydney was the primary driver and led the way with capital gains of 15.4%, plus was the only city to have achieved double digit growth. House values in Sydney increased by 16.2 % over the past year compared to an 12.2% rise in unit values. The three months to June saw dwelling values fall for the first time in over a year, -0.2%. …

Have you considered a Line of Credit?

July 21, 2014 Posted by Finance Detective Blog

A Line of Credit (LOC) or Home Equity Loan allows borrowers to withdraw funds out of the equity in their property up to a set limit, usually 80% LVR, at any time. Used wisely it is an ideal way of getting what you have always wanted or to improve your portfolio. The great thing about a Line of Credit is that you only pay interest on what you use. So if you draw a LOC of $100,000 but only use $20,000 for renovations or a purchase, the only interest you have to pay is on that amount, as the $80,000 has …

Is purchasing Off The Plan for you?

July 21, 2014 Posted by Finance Detective Blog

Buying off the plan means you are purchasing a property before construction is completed. When you enter into a contract to buy off the plan you pay a deposit to secure the property, while the balance of the purchase price is payable on completion of the building. This comes with many advantages for investors but also some risks. What could be an advantage is that you can secure property at today’s price, yet often not have to settle for up to 18 months or in some cases even longer. What this means is that while you’ll pay a 10% deposit …