The Costs of Buying a new Home

'Home sweet home', a phrase we have been often hearing since our childhood days. Own home is always a sweet home, but such sweetness is increasingly becoming a pain-in-the-neck due to skyrocketing costs of living in Australia, paralleled with economic challenges of lower purchasing powers in the shape of decreasing disposable income. The costs of buying a home in Australia are high. Experts and analysts suggest keeping a minimum of 10% deposit against your property price. For example, if your...
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Steps to Investing in Australian Property

The Australian real estate market has become a lucrative arena for several investors. However, investment in properties could be a daunting experience especially if you have no previous clue about it. Here are some steps that can ease down your process of investment and make you an informed decision maker: 1. Developing an investment plan – why are you investing? What are your motives behind the investment? What is your long-term strategy? Do you want to sell at higher prices or r...
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Top Stories in Australian Home Ownership April 4, 2017

Today's trending stories in Australian home ownership and Home Loans. Townhouses achieve record prices across Melbourne as demand heats up Riding Highett: the suburb finding Bayside status Why Hamptons come a long way <a href="http://www.theage.com.au/victoria/leafy-suburbs-forced-to-squeeze-in-more-homes-under-new-planning-blueprint-20170311-... Runaway house prices put ownership dreams on hold Runaway house prices put ownership dreams on hold .... and said he felt "blessed" t...
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Compare Home Loans

Using a comparison rate to compare loans It is actually quite difficult to compare home loans as you need to not only take into account the interest rate but also all the fees and charges involved. Fortunately the 'comparison rate' makes this task a little easier. The comparison rate is calculated by adding the interest rate to the main fees and charges on the loan. Note: When using a comparison rate, make sure the loans being compared are for the same amount and term. In the simple exa...
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A Super Simple method to your Budget under Control and get back in the black

This is so simple it's just wonderful, no laptops, no spreadsheets, no headaches, just a simple no fuss way to get control over your finances. Watch and see how simple this is: https://www.youtube.com/watch?v=FsxPcgj5MDA For many people the simple way is the best way to start, if you don't know where your money is going every month, that's a big problem. It can be a real headache to sit down at a computer after a long days work and type in amounts from dockets, or worse, from memory, espe...
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Interest Only Home Loans – for Investors or Everyone?

There's been a lot of talk about this type of loan structure lately, with industry heavyweights such as John Symonds (Aussie Home Loans) and Mark Bouris (Yellow Brick Road) weighing in on the topic. Symonds went as far as calling for a ban this type of loan, whereas many, such as Bouris consider it effective when used correctly, in tandem with professional financial advice. With a normal loan, each monthly payment would consist of an amount that's paid off the debt (principle) and the interes...
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9 Million New Homes To Meet International Report Projections

“Australia will need more than 9 million new homes to meet the needs of the population projected in the Intergenerational report released today,” Wilhelm Harnisch CEO of Master Builders Australia said. “The nation will need to more than double its current housing stock over the next 40 years to accommodate the expected 1.3 per cent in annual population growth,” he said. “The key challenge will be to tackle intergenerational housing affordability in order to preserve home ownership as a fun...
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Sydney land prices now rising faster than houses

21 February 2015: Sydney’s median residential land price increased by 19.7 percent over 2014 and the city clearly remains the most expensive of all the state capitals, according to data from the Domain Group. The December quarter median land price of $390,000 was well ahead of Melbourne at $245,000 and Brisbane $237,950. Dr Andrew Wilson, Senior Economist, Domain Group, commented; “Sydney’s annual land prices increased at the fastest rate in over a decade and recorded stronger growth than...
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Introducing ‘Mortgage Contests’ – Disruptive Innovation hits the Mortgage market

I can imagine that when your hear of contests you probably thing about winning some kind of prize, and that's not an uncommon form of promotion when it comes to mortgages, I'm sure you have seen all kinds of giveaways to try and lure you into a deal. Today what we're talking about is something very interesting, this is real progress, what many of my tech friends label as 'disruptive', a definition of something that breaks the old model of business and brings better service, more efficient ser...
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This Week in Mortgage News

Centrelink reverse mortgage scheme is just for the wealthy A little-known government reverse mortgage scheme trumps those offered by the private sector in many respects, but curiously, the government scheme is only available to better-off retirees. Read more: http://www.theage.com.au/money/super-and-funds/centrelink-reverse-mortgage-scheme-is-just--for-the-wealthy-20141002-10p4tt.html Home loan interest rates continue to fall on fixed and variable mortgages, but be ready for a rise Savvy h...
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Making News this Week

CUA calls for mortgage capital rules to be fairer CUA, the nation’s biggest credit union, has singled out evening up mortgage capital rules as the key competitive issue for the Murray financial system ­inquiry to address, arguing the big four banks have too big an advantage. read more Adelaide mortgage broker Malcolm Royce Jones jailed for $170K theft An Adelaide mortgage broker who stole $170,000 from a client has been jailed for more than two years. Malcolm Royce Jones, 52, pleaded guilty...
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Making News this Week

Some of the headlines in the mortgage world this week: Don't mess with cheap loan scheme: REIWA read more Struggling first home buyers and high-risk borrowers could be pushed out of the market if the West Australian government privatises its cheap loan scheme, an industry group says. Consider opt out costs when getting a loan read more When getting a home loan, particularly with the current tempting low fixed term interest rates on offer, the Consumer Action Law Centre has advised borrow...
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