The difficulty of affording a home in Australia stems from a combination of economic, demographic, and policy factors. Here's an overview: 1. High Demand, Limited Supply Population Growth: Australia's population growth, particularly in urban centers like Sydney, Melbourne, and Brisbane, has fueled demand for housing. This is partly due to natural growth and high levels of immigration. Supply...
A full turn-key house: A complete, move-in ready solution A full turn-key house is an upgrade offered by home builders, ensuring your home is fully completed with all necessary additions, such as internal wall painting, flooring, and blinds. Opting for a full turn-key package provides peace of mind, knowing that your home is truly 'move-in ready.' Once you receive the keys, you can either move in...
Population trends significantly influence the property market by affecting demand, supply, and pricing. Here are key ways in which population trends impact the real estate market: 1. Population Growth and Demand for Housing Increased Demand: Population growth, particularly in urban areas, drives up demand for housing. More people means more need for homes, which can lead to higher property prices,...
What is a single contract and why should you choose it? When buying off-the-plan, navigating the paperwork can be overwhelming. A Single Contract offers a solution by combining the land purchase and construction into one agreement. This approach is different from traditional new-builds, which often require you to manage separate contracts and payments. Benefits of a single contract: 1️⃣ No...
The Australian Federal Parliament has passed the "Help to Buy" legislation, introducing a shared equity scheme aimed at assisting low to middle-income earners in purchasing homes. Key Features: Government Equity Contribution: Up to 40% for new homes Up to 30% for existing homes Eligibility Criteria: Singles earning up to $90,000 per year Couples earning...
Amenities significantly impact real estate by influencing both the value and attractiveness of a property. Amenities are features or services that enhance the comfort, convenience, and enjoyment of a space or community. They can be offered in various settings, such as residential buildings, commercial properties, public spaces, hotels, and more. Here are some key ways amenities impact real...
Why would I add someone to the title? Adding someone to the title of an asset, such as a house, car, or bank account, can have several implications, depending on your intentions and legal considerations. Here are some reasons why someone might add another person to the title: 1. Joint Ownership Shared Ownership: If you want to share ownership of an asset, such as a house, with another person,...
Stamp duty, also known as land transfer duty, is a tax imposed by the Victorian government when you buy property in Victoria, Australia. The amount you pay depends on several factors including the property's value, the type of property, and any concessions or exemptions you may be eligible for. Key Aspects of Stamp Duty in Victoria Calculation: Stamp duty is calculated as a percentage of the...
Buying your first home is an exciting milestone, but it can also be overwhelming. Here are five tips to help first home buyers navigate the process: 1. Understand Your Budget and Get Pre-Approval Assess Your Finances: Start by understanding your financial situation. Determine how much you can afford by reviewing your income, savings, and any existing debts. Get Pre-Approved for a Loan: Before house...
How can first home buyers utilise the current government incentives? First home buyers can take advantage of various government incentives that help make homeownership more affordable. These incentives vary by country and region, so it's essential to research what's available in your area. Here's how first-home buyers can utilize current government incentives: 1. First-Home Buyer Grants What It Is:...