Buyers Guide

Buying a property is a journey. More so an experience. That can be extremely exciting and scary at the same time. This buying guide has been crafted with care to clarify and assist you when working with me.

BENEFITS OF HOME OWNERSHIP

There are many benefits to home ownership, here are the main reasons:

BUILDING EQUITY

Owning property whether as an owner occupier or investor has proven to be one of the main ways Australian’s build wealth. The more principal you pay down towards your mortgage the more equity you will build.

INCREASE VALUE 

Through value adding renovations you can increase the value of your home which can be used to borrow against or sell to profit.

TAX BENEFITS

In Australia owning your own principal place of residence is effectively tax-free. This is because your primary residence is exempt from capital gains tax.

INCOME TAX SAVINGS

The interest component of an investment property mortgage is tax deductible based on marginal tax rates.

NEGATIVE GEARING

If your property makes a net loss you can claim this loss against your income and reduce the amount of tax you pay.

WASTED MONEY

Often referred to as dead money because the rental you pay on a rented property is used to pay someone else’s mortgage.

STABILITY

Instead of having to potentially vacate your rental property every 6-12 months, which can be very costly in time and moving fees, you have an assurance when owning your own home that you can stay for as long as you like.

ROOTS

Having property in Australia is a great way many foreigners create a foundation with the option to move to Australia in the future.

EDUCATION

Often owning property in key locations can let your children attend schools because of the specific zoning the property falls into.

LIFESTYLE

You can create the type of lifestyle you most want to experience, depending on where you choose to live.

DESIGN

You have the ability to style and design the interior and exterior of your home as you like.

TOP 5 TIPS FOR HOME BUYERS

Get help

In this modern time, you may not have the necessary time to invest 100+ hours into your search to find the best in-market and off-market properties. It could be worthwhile using a buying service which does everything for you from start to finish. You can find out more about how I work.

Get finance

If you don’t have a finance professional / mortgage broker who will work on your behalf, it would be good to find one. When you work with me, I can get in touch with many fantastic mortgage brokers who will find you the lowest rate in the market for your situation.

Understand the local market

Once you know where you would like to buy it is important to understand what is achievable within that market. If you don’t have the time or desire to do so, a specialised buyers agency will have the expertise to do all this for you. It would be wise to pick the right buyers agency for your requirements.

Negotiation

When you have the right property you would like to take further, it would be very wise to start with the negotiation. Often times I am able to save my clients tens of thousands of dollars through successful negotiation.

Due diligence

Having an experienced solicitor / conveyancer will help you understand the ins and outs about the property. A reputable pest and building inspector will check the properties building integrity and whether it may pose any future issues. As part of my process, I set up all these services for you.

MY CLIENTS KEY STEPS FOR BUYING A HOME

DECIDE WHETHER TO DO-IT-YOURSELF OR GET EXPERT HELP

The shift is happening in Australia away from DIY towards using expert help. This has occurred because property has become so expensive, and many Australian’s are looking for an advantage and don’t want to make a mistake with such a large amount of money on the line. Fortunately I can help you from start to finish for an affordable fixed fee.

CONSULT WITH A MORTGAGE BROKER 

I have an amazing array of mortgage brokers who can get even the hardest deals through the banks. The uphill battle can be hard when you have limited experience.

GET PRE-APPROVED

Before I begin my search I generally want my clients to be pre-approved so I can start their search straight away. However, there are exceptions to this rule.

RESEARCH

I make sure to thoroughly research the local market for you to ensure we have the greatest buying advantage possible. This really helps down the track during the negotiation.

 FIND A HOME OR INVESTMENT

I find you a home or investment property based on your buying requirements. I keep searching until you are happy with a purchase.

NEGOTIATE

I do the negotiation for you. You are welcome to do it yourself. Although I generally prefer to do it, as I am used to doing negotiations on a daily basis.

DUE DILIGENCE – PEST AND BUILDING INSPECTOR

I have a group of pest and building inspectors I can recommend for your use. I usually organise the inspections for you.

  DUE DILIGENCE – CONTRACT SIGNING

I have multiple solicitors / conveyancers who will do a fantastic job to ensure the contract has been thoroughly researched to put you in the best possible position.

APPLY FOR A MORTGAGE

You will apply for a formal mortgage as soon as the offer is accepted and our due-diligence is all good.

BANK VALUATION

The bank will normally do a valuation on the property to ensure your finance gets approved before exchange.

EXCHANGE

The property exchanges once we have signed the contract and paid a deposit which is usually around 10% of the purchase price. Then we go into the settlement period, which varies in length but can usually be around 6 weeks.

SETTLEMENT

Usually settlement goes through with limited fuss. I am however there with you along the journey if there are any challenges we face.

STAMP DUTY

Every state and territory has differing rates. I will help you understand the amount you will pay.

DIFFERENT TYPES OF OWNERSHIP

TORRENS TITLE

Is a system of title where the landowner owns both the house and land on which it is built.

STRATA TITLE

When you purchase a unit or townhouse you are generally purchasing into a strata title. In this form of ownership you will own your lot and own a part of the common area and building.

LEASEHOLD

Is a right for a lessee to occupy property from a lessor or landlord for a given period of time.

COMMUNITY TITLE

Community title divides land to create lots and common property.

COMPANY TITLE

Company title is a form of ownership where shares for the building are held in group based on the original value of the units, determined by size and locations of the units in the building.