first home buyers Archives - Page 2

How Do Most Home Buyers Evaluate Homes?

energy efficient homesI read an interesting piece on the website I will go on to say that most of the findings the article talks about is  in sync with my expectations. The article is about the aspirations of buyers when they are searching for a home.
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NOW Is The Time To Buy Your First House

first home buyersOver the years I have advised many first home buyers as to the right time for purchasing a home. In many cases I have found them really apprehensive and overcautious. This stratum of buyers does not trust itself too much. First home buyers readily assume that they should take the property plunge only when they have enough in their kitty. Nothing could be farther from truth.
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The Full Roadmap To Your First Apartment

apartment SydneyThe process of buying your first home may involve an amount you have never spent in your life; a kind of cost which makes diligence doubly necessary.

Ideally, you should be observant about every little detail. Let me take you through the different areas which may turn into pitfalls on a later day if left un-negotiated.
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Superannuation Concessional Cap Raised By $10,000

The salary you sacrifice will reap super dividends for you and more quickly so if you are nearing 60 or already over it, reports Noel Whittaker for “The Observer”.

The superannuation concessional cap has been raised from $25,000 a year to $35,000 a year. So what does it mean in practice? You know that your employer is expected to put 9.25% of your yearly salary into your superannuation fund.

For somebody earning $100,000 a year, this amounts to only $9,250 so additionally that employee can now put $25,750 instead of $15,750 (which would have been the case had the concessional cap remained at $25,000) into his super.

While the salary he sacrifices definitely reduces his ‘take home’ (short-term loss) but the boost his superannuation fund gets outweighs the loss in “take home’ as well as the taxes he needs to pay on the contribution.

In this regard, Transition to Retirement (TTR) pensions can also come handy.

You can read the original article here.

All You Need To Know Before Buying A Home

tips for buying homeGetting a nice home for oneself is like completing a major part of the happiness ‘Jigsaw’. But the nicety and persevering beauty of your home will depend upon how you follow these home buying tips.
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New Home Buyers To Benefit From Change In Grant Scheme

1224071_money_A few major housing grants have changed all across the country. Seeing the Goods and Services Tax weighing down home owners, the government came up with the First Home Owner Grant in the year 2000. It offered $7,000 to FHBs looking to buy a new or an existing home, says Emma Sorensen for the website

One major change proposed in the Grant is that it will be only available to new home buyers now. In other words, if you are buying an established home, you won’t be able to avail this government bounty. The Grants may vary subject to your place of residence and date of application.

For New South Wales, the First Home Owner Grant has been changed to the First Home Owner Grant (New Home) Scheme. Through the new scheme, you can avail $15,000 instead of $7,000 now and the cap has been brought down to $635,000 from $835,000. To reiterate, the Grant will only apply for new homes.

Those looking to relocate from their existing metropolitan home to a new regional home can now avail $7000 as part of the Regional Relocation Grant scheme.

You can read the original article here.

Mortgage commitments for first home buyers at a nine-year low

Buyers Advocate - Sydney Federation HouseMortgage commitments made by first home buyers are not sending too many happy signals. Larry Schlesinger confirms in his article how owner occupied financial commitments have fallen by about 1.5% in January 2013. Over this same period, first home seekers stood at 14.9% of the total number of people seeking home loans. ABS puts it in close proximity to March 2004, the month which had recorded lowest first home buyer count.

First home buyers are showing some improvement when it comes to the average size of the loan. Between December 2012 and January 2013, size of their home loans has increased by $2800. Buyers on the whole have stunted their budgets by $1200 between Dec ‘12’ and Jan ‘13’. After having risen 1.6% in the month of December, mortgage commitments for home constructions have come down by 0.2% in January. This figure is a little difficult to chew for the construction sector. Having said this, sale of already established houses remained flat (point to note: it did not go down) for most of January.

Commitments towards purchase of new homes have increased in the month of December. The percentage of hike is similar to that in December (2.3%). This is definitely a trend that will pick momentum in coming days.

Property News – NSW State Budget 2012

The NSW State Budget for 2012 has been announced.  Here are the most important changes concerning home buyers and property investors, together with my thoughts.  The news is, as always, not all good…
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