A Section 32 Statement, commonly known as a Vendor Statement, plays a crucial role in property transactions in Victoria, Australia. It is a legally mandated disclosure document that provides potential buyers with essential information about the property on sale, allowing them to make well-informed decisions during the buying process.
Property caveats are essential legal instruments in the world of real estate, often playing a vital role in protecting the interests of individuals or entities that have a claim on a specific land or property. Serving as a statutory injunction, a property caveat effectively notifies others of the claimant's interest and prevents the registration of particular dealings with the real property in question. While this may sound straightforward, property caveats can be complex, and it is crucial to grasp their underlying legal context and implications.
The most important thing with any property purchase, whether for occupancy or investment, is caution. Letting emotions like excitement or fear-of-missing-out cloud your judgment can stop you from asking important questions and seeing the issues that lay beneath the facade. This blog aims to uncover some of the most popular property myths so you know to tread extra carefully as you continue your property hunt and avoid buyer remorse.
As climate change prevention becomes more of a priority for local governments it seems logical that we’ll start seeing more regulations come in to enforce cleaner living, as well as the ongoing incentives to take up solar power solutions. One area where energy efficiency is being ramped up is real estate.
After a long and biting winter Aussies are eager for some summer sunshine. One thing I love about summer is that exercising and outdoor activities become a lot more fun. Longer days and lots of warmth really motivate you to get outside and get some fresh air, or, if you are lucky enough to have a backyard swimming pool, a cool dip, and a splash with your family or as part of a weekend BBQ gathering.
Saving for a home loan deposit and going through the motions of applying for mortgage loans is a handful for any Australian, but it can get that much trickier if you’re self-employed. As well as juggling your business you also need to prove your worth. While you might need to jump through a few extra hoops, it’s not impossible to own your home or upgrade if your existing home is getting a little small.
The ATO acknowledges the decrease in asset value and has set up a timeline for individual asset life expectancy. This means that even though the expenses of asset depreciation might not be covered in rental earnings, you can claim investment property depreciation against your taxable income. For example, if you buy a new carpet for $6,000 ATO lists this value expectancy as ten years. This means you can claim a $600 tax deduction every year for ten years under straight-line depreciation (Prime Costs). We’ll get into the formula for calculations a little later in this blog.
In an effort to make owning a home more manageable for average Australians, particularly those renting and looking to purchase their first home, the Australian government is opening up more and more incentives to make it possible. One of these boosters is through Superannuation.
Selling your home is a big decision, but even after you choose to put your home on the market you still need to decide on the best approach. There are two roads you can choose to sell your home: Auction or private sale.
Despite the current constraints, Mr Lowe said many households had built up very large financial safety nets during the pandemic, saving an extra $250 billion over the past two years, and also stated that the number of people falling behind in their mortgage payments is currently declining. So what happens to property values as interest rates rise?
To make good on your goal to own an amazing property, all you need is to find the right professional support: a quality mortgage broker, supportive lender, qualified conveyancer as well as making sure you complete third-party property inspections for building faults and pest control. These professionals will be able to see problems and challenges you might miss through being rushed, emotional or just not having the proven experience to know what to look for. Looking for ways a property won’t work for you is just as important as determining what will work.
Saving enough the required money for a home deposit can seem like an achievable dream for first-home buyers.The question is, how much of a deposit do you really need to buy a house in the current housing situation?
We use cookies to help us understand our users and give you the best experience. To find out more, please read our privacy policy.
We know what you’re thinking – not another email sign-up!
But hear us out.
Our monthly update is full of valuable news and advice on all things property.
Sign up and your future will thank you for it.