When it comes to taking control of your personal finances, most don't take the time to create a budget. A budget doesn't mean you stop enjoying life. The primary purpose is providing you with a guideline to understanding what you can afford to spend on a property. This is irrelevant if you are buying a home to live in, use as a holiday home or to invest. It also allows you to discover what you are...
You must ensure your investment property is compliant with the current regulations. Each state in Australia differs. As we are domiciled in Melbourne, Victoria, this is a quick snapshot to ensure your aware of the Victorian requirements around smoke alarms. Landlords Responsibility: Smoke alarms must be installed in all Victorian homes, units, flats and townhouses. Landlords are responsible for...
Once you have purchased an investment property, there are a few important items to consider. One of those items is selecting a Property Manager. A property manager essentially manages your investment property. There service consists of sourcing a tenant, regularly inspect the property, manage maintenance issues and collect rent to name a few. Given the time needed to complete these tasks and the strict...
Establishing your objectives. As a former financial planner and now property adviser, Tristan Markulija has seen quite a number of goals and objectives. Some with great motivation, some very realistic and achievable, while some are completely unattainable. Part of our process in sourcing the right property for you, our team devote a large component in educating you on the property market, helping you...
Time is the most valuable commodity. If we could by time to continue saving, while locking in a property price for the future, how awesome would that be? Purchasing off the plan buys more time. Let’s explore this idea further. Once sourcing the property that appeals to you, buying off the plan offers you the chance to purchase a property now, but settling a loan in the future (i.e. 18 months or...
I don't know if it's forward thinking or impulse buying, but we always buy things in bulk if it’s well discounted. Food is certainly something we will buy in bulk. I can’t eat it in one day, but I know it will be eaten… Over the years we have realised that it's not the price you pay that matters, but the quality you get. If you can get something cheap that's helpful but it's pointless if it...
Many people often feel that if they wait, they may find a bargain. Bargains come and go. First home buyers are very new to the property market and often nervous. It’s important to get advice, but be careful. Don’t listen to too many people, particularly if they haven’t been overly successful in real estate or perhaps not qualified to provide advice. Buying property can be an overwhelmingly emotional...
Here we outline five important steps to buying your first investment property: 1. Set Your Goals To accomplish your property needs, you need to establish some primary objectives. Are you purchasing a property to generate a high rental income stream or capital growth? Is it to be held for the short or long term? Break down your objectives into a few important criterions and place a deadline and/or date...
Rent – The true core of real estate. Investing in real estate should be a buy/hold approach. The traditional way that provides moderate returns while having the opportunity to use the rent to escalate the loan repayments. TV reality shows often falsely indicate that successful real estate is a quick turnover from buying a home, renovating it, and reselling at a much higher price, but this is far...
First home buyers, buying your first home is generally the biggest financial commitment of your life. Of course, it’s absolutely normal to feel a mix of emotions… Are we doing the right thing? Can we actually afford it? Should I buy close to the city? Should I wait longer? What if the market changes? As property advisers, we understand the concerns that surround you. It is our role to help...