There are sound reasons why we are advised to conduct Due Diligence before buying a property. If nothing, our bit of homework can ably reduce the price that we end up paying for the property. What the vendor/seller asks for and what you pay up need not be the same thing. ‘Negotiation’ is a word that keeps coming up during business exchanges and real estate deals are not aloof from them either.
Archives for March 2014
Archives
Comprehensive Credit Reporting Rewards Deserving Candidates
From negative credit reporting system to comprehensive credit reporting, Australia seems to be travelling on the right path. Earlier, only infringements and credit enquiries were hotly chased. While it punished the delinquents by reducing their creditworthiness, it did nothing to reward those who pay their bills on time.
Pools Require Certification of Compliance
If you live in NSW and you want to sell off your property blessed with a swimming pool, you have got to be compliant with a few regulations. On 29th April, 2014, a law will come into effect which will make it mandatory for swimming pool owners to ensure that their ‘pools’ comply with the Swimming Pools Act 1992.
Which States Lean More Towards Borrowing?
Out of the 43,963 home loans financed in the month of January, 28% of loans have been sought by borrowers in NSW. Close on their heels are borrowers from VIC, standing at 27%. In an article for the website realestate.com.au, Venessa Paech informs us on the borrowing habits of the Australian citizenry.
In terms of average loan size, NSW’s $357,000 was the highest (NSW topping on two counts) followed by ACT’s $341,700 and Western Australia’s $320,300.
Miss Paech talks about the need to be savvy and adds that buyers should be on the prowl while comparing home loan rates and best offers- after all, the gap between the ‘best case’ and the ‘worst case’ on variable rate is as much as 4.5%. It then becomes important that the borrowers press the lenders as much as they possibly can.
You can read the original article here.
What if Tenants Exist on Your Investment Property?
Two segregate scenarios can develop at the time you buy an investment property. In the first one, you get a property, completely vacant, and you can either treat it as an ‘owner-occupancy’ kind or you can opt to rent it out over the next fortnight or so. What then is the second case?
Sydney and Melbourne in the List of Most Expensive Cities
Venessa Paech feels we are not imagining things if we are feeling a little squeezed out living in Sydney or Melbourne. In an article for the website realestate.com.au, Miss Paech informs that these two cities have found their way to the list of top 10 most expensive cities in the world. While Melbourne is in a tie with Caracas and Geneva for the 6th place, Sydney ranks one step above.
The bi-annual survey conducted by the Economist Intelligence Unit’s Worldwide Cost of Living Survey makes comparison across 131 cities, using a repertoire of 160 products and services.
You can read the original article here.
Which between Sydney and Melbourne (if either) do you feel will become unaffordable in coming times?
