Articles tagged with "Property"
Found 6 articles.
First Home Super Saver (FHSS) Scheme Explained
Saving for a house deposit is the hardest part of buying a home. If you save money in a standard bank account, you are saving with your "after-tax" money. If you earn $90,000 a year, the government taxes a large chunk of your income, and you can only save what is left over.
Lenders Mortgage Insurance (LMI) & Guarantor Loans
The golden rule of Australian real estate is that banks want you to have a 20% deposit. This gives the bank a "buffer." If you stop paying your mortgage and property prices drop, the bank can sell your house and still get all their money back.
Stamp Duty Concessions & First Home Owner Grants (FHOG)
When buying a home, the deposit isn't your only upfront cost. The largest hidden expense is Stamp Duty (or Transfer Duty)—a state government tax applied to property purchases. On a $700,000 home, stamp duty can easily cost you $20,000 to $35,000 out of pocket.
Offset Accounts vs. Redraw Facilities
When you have a home loan, you want to pay as little interest to the bank as possible. The two main tools lenders offer to help you do this are Offset Accounts and Redraw Facilities.
Fixed vs. Variable Interest Rates (Pros & Cons)
When you take out a mortgage, the bank is lending you money, and the interest rate is the price you pay for that money. In Australia, you must choose how you want that interest rate applied: Fixed or Variable.
How to Run the Numbers Like a Professional Property Investor
To determine if a property will actually build your wealth—or just drain your salary—you must evaluate it across its entire lifecycle.