Deposits

Placing a deposit on a property; what you need to know … – Placing a deposit – How much will I need? – Deposit Bonds Placing a Deposit Placing a Deposit on a property these days is getting harder and harder as property prices keep rising and saving for a deposit is taking longer. About a decade ago, Australia’s property […]

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Is a family guarantee right for you?

Entering the property market is no easy feat for a first homebuyer, but even parents who aren’t prepared to hand over cash for a deposit may help by being a guarantor on a loan. Before taking the plunge however, it’s crucial to be aware of the implications involved. Here are three questions to ask yourself to see if a family […]

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What costs are involved in buying a home?

Things can add up quickly so it’s helpful to have a clear understanding of the total costs involved in buying a home. The key things to budget for are: Pre-purchase inspections A pre-purchase pest and building inspection will show up any building defects, illegal work or pest issues that could be costly to fix further down the track. If you’re […]

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A guarantor could help you get your home sooner

Saving a deposit can be difficult … especially if you’re renting and prices are going up faster than you can save. But there is a solution that could get you over the line sooner – having a ‘guarantor’. A guarantor is someone – usually a parent or a family member – who offers their own home as extra security for […]

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Exit costs when refinancing

Refinancing can be a great way to save money if you believe you are paying too much for your loan, but there is more to it than just finding a loan with a lower interest rate and making the change. Before making the switch, ensure the savings you could make outweigh the fees involved. Here are the different exit costs […]

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How much deposit do I need?

The amount of your deposit is very important for several reasons: 100% loans typically no longer exist Generally it’s no longer possible to get a loan for the whole of a property’s purchase price. Most lenders will want you to put down at least 5% of the purchase price of the property. The rest – generally up to 95% – […]

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FHOG Home Buyer Grant $30k

In an effort to jump-start the state’s flagging economy, Tasmania has unveiled the nation’s most generous first home buyer grant (FHBG) ever: $30,000. The scheme doubles the previous $15,000 grant and was announced yesterday by premier Lara Giddings. It essentially pays the cost of a home deposit. “This is equivalent to some people’s after-tax salary,” Stuart Clues, executive director of […]

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RP Data Report

The Federal Budget was supposed to be the most important economic report released this week however, from a property market perspective it delivered very little. The only points of note affecting the housing market were: the skilled migration target has been revised upwards to 185,000 (from 168,700 the year before) and mostly focused on regional areas where workers are desperately […]

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NSW Tenancy Laws

The Residential Tenancies Act 2010 was passed by Parliament in 2010 and the new laws will commence on 31 January 2011 which is just around the corner. Until then, the existing laws will continue to apply. The new Act follows a comprehensive review of the existing tenancy laws and includes more than 100 reforms. Some of the changes include: A […]

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