Choosing the right mortgage is not just important for your needs, but could make the difference of thousands of dollars in the long term. There are so many products from so many financial institutions all with differing interest rates and a plethora of features and fees. So where do you start? Aside from seeking help from a financial advisor (which may be a very wise decision), there are some ways to begin...
Professional property buyers While it is standard practice to pay an agent to sell your home, we have - until recently - been on our own when it came to inspecting properties and negotiating the best price. In many ways therefore, it makes sense to hire an expert to help you purchase a property. After all, if you are dealing with a professional selling agent who is trained to entice would-be buyers into...
Real Estate Agents The most common way of buying property is by private treaty through an agent. As the agents are working in the interests of the vendor, most buyers are skeptical about believing everything an agent will tell them - and for good reason. For example, an agent selling a small property on a large block may entice would-be buyers to subdivide or even demolish and rebuild, however unless they...
There has been much hype surrounding auctions since several television programs popularised them as an exciting way of watching vendors hope for big profits and buyers pursue their dream homes. However there are many aspects of the auction sale that present financial risks to both vendors and bidders that are not so readily promoted. Fortunately, new laws in some states now require the vendor to provide...
New laws for purchasers of ACT properties New laws in the ACT now require the seller to provide prospective buyers with an independent builder's inspection report and a pest inspection report among other documents as part of the contract for sale (see our guide to the new real estate Act for more details). With this new legislation, designed to shorten the time between offer and exchange in order to...
It is usual that when you purchase a house, you purchase the land (or at least the leasehold for the land) on which it is built. However, when purchasing a unit or apartment the definition of who owns what becomes less distinct. For example, do you have a share in common areas such as stairwells, hallways and gardens? In the case of multi-level constructions, who owns the land on which the building is...
The consumer's options in conveyancing (the legal process of transferring the ownership of a property) were once limited to which lawyer he or she decided to hire. These days we now have the choice of employing a solicitor, engaging a specialist agent, or even opting to sidestep the professionals and do-it-yourself. While there are obvious costs associated with the first two options, the potential pitfalls...
Moving house can be an exhausting and disruptive experience. Everyone in the household is affected in some way, even the family pet. The best weapon to alleviate some of the pressure and stress is thorough planning and being well organised. If you are moving yourself, many hands certainly do make light work, so if family and friends are willing, enlist their help as well. Start assessing everything that...
Compromise - Needs and wants For those who do desire to become home owners, images of coming back to a welcoming home after a day at work, spending time with the family within the sanctity of its walls and pottering in the garden bring feelings of security and happiness. However, it can be tempting to want it all now, and with that desire comes the danger of over borrowing and getting into more debt than...
Why buy? There seems to be an inherent desire in most of us to eventually 'nest' and make our home somewhere. This usually means that buying a home is more desirable than renting and brings a sense of satisfaction and security that cannot be matched. Unfortunately, the rapid increase of values in the property market in recent years has pushed home ownership out of reach for some would-be first time...