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How well do you understand property tax deductions?
Many Australians may be missing out on the opportunity to buy an investment property simply because they don’t understand tax deductions. A new study by Galaxy Research, on behalf of non-bank lender State Custodians Home Loans, found that less than half of those surveyed were aware of the main tax deductions they could claim on investment properties. According to the study, just 44 per cent were aware they could claim real estate management fees. Other claims people were unaware of included depreciation on appliances (42 per cent), interest...
read moreDoes your home have a safety net?
A common concern of many homeowners and investors is what they would do if there were damage to their property. The best way to alleviate any worries is to have an appropriate level of insurance cover in place so you don’t get caught out in the event of an accident or disaster. It can be tempting to go for the cheapest cover you can find, but try to find a policy that will protect you for every possible scenario that you or your property could face. Some things worth looking out for: Natural disasters Some types of natural disasters may be...
read moreFirst home buyers making a return
First home buyers have increased their dominance in the housing market, according to NAB’s Residential Property Survey. The survey found that first home buyers made up nearly 29 per cent of owner-occupied new home sales in the fourth quarter of 2017, and 22 per cent of established owner-occupied home sales. This brings first home buyers to the highest level since NAB’s survey began in 2011. “Overall, they accounted for almost two in five sales in new housing markets and around one in three in established markets,” the...
read moreAre Australian homes taking longer to sell?
The time it takes to sell a home appears to be getting longer, according to the latest Property Pulse by CoreLogic. At the end of 2017, it took an average of 45 days to sell by private treaty across Australia. It took a little bit faster to sell across the combined capital cities, at an average of 40 days The national average was up slightly from 2016 when it took an average of 44 days. Capital city sales used to sell 3 days faster, at 37 days. These figures don’t show a drastic difference in days on the market, however larger differences...
read moreWhat to do with a spare bedroom
Have more room in your home than you know what to do with? While it may seem like a good problem to have, a lot of homeowners find themselves with an extra room that doesn’t get utilised to its fullest. Rather than leaving the room empty or using it as a glorified storage space, why not turn it into something useful? Guest room A guest room is the obvious choice for a spare bedroom and can be great if you have a lot of out of town visitors or grown up children that occasionally like to stay over. If you don’t have a lot of visitors you...
read moreWill the RBA lift rates in 2018?
With the RBA set to meet for the first time in 2018 tomorrow, the question on everyone’s mind is whether or not interest rates will go up this year. Most predictions point to interest rates holding steady for this month at least, continuing the longest run of low rates in Australian history. The last time the official cash rate was changed was back in August 2016, when it went down by 0.25 percentage points to 1.5 per cent. The last time that Australia saw an interest rate rise was over 7 years ago when they reached 4.75 per cent. There are...
read moreWas property flipping profitable in 2017?
Property flipping can be a risky endeavour, however a new report has found that the majority of flipped properties (those bought and resold in a short amount of time) in Australia turned a profit in 2017. CoreLogic’s Property Flipping Report for 2017 found that almost 9 in 10 properties were flipped for a profit last year. This included properties sold within one year of purchase (89.1 per cent), and properties sold within one to two years of purchase (89.9 per cent). The report also found that house flipping was more common in the...
read moreBuy or rent? Which will get you further ahead?
To rent or to buy is one of the great real estate dilemmas many Australians face as they consider their long-term financial outlook. With property prices on the rise in many parts of the country it would seem that buying a home is the smarter investment choice, particularly while interest rates remain at historic lows. However home buying isn’t within everyone’s reach, and there are concerns about buyers taking on more debt than they can handle. Everyone’s situation is different and while buying may be the best decision for some, others...
read moreHow to reduce your power bills
Resisting the urge to turn on your air-conditioning because you’re worried about what your electricity bill will look like at the end of summer? You’re probably not alone. As much of the country swelters through record-breaking temperatures, many have been left wondering how they are going to cope with the extra costs to keep their home cool. While it might be too late to do much if you’ve already used a lot of energy this summer, there are things you can do to help provide future energy savings. Find the biggest culprits Find out what...
read moreWhat you need to know about the First Home Super Saver Scheme
Property prices have soared throughout the county over the last few years and while many homeowners have welcomed this, it has made for a tough time for first home buyers. Luckily the federal government has stepped in to help offer a solution with the parliament recently passing legislation for the First Home Super Saver Scheme. What is it? In a nutshell, the First Home Super Saver Scheme allows eligible individuals to make extra contributions into their superannuation account. These contributions and their earnings can then be withdrawn and...
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