DARRI ROAD FOR SALE PROPERTY IN CENTRAL COAST NSW

Q & A's; Buying Off the Plan

Author: Hannah Aria. CEO Australian Prime Realtor. I have heard from many about the anxieties associated to buying off the plan. Even recently at a display centre, there was a lot of concern from potential buyers about buying-off-the-plan. I was happy to assist and offered answers in any way I could, here are a few Q & A's. 1. Is my Deposit Safe? When purchasing off the plan, a deposit is required to secure your property this is 10% of the purchase price. The money should be held in a trust account which means the agent or solicitor holding your deposit is only allowed to release the money to the developer upon completion of the site. Your solicitor or conveyancer should make it clear in the contracts that at no point is your deposit to be used for construction purposes or to finance the build, or to be released to the developer for any other reason. 2. What if the completion date changes? In my opinion, the longer it takes to complete the build, the better off you are. Put it this way, whilst construction is underway, property prices generally rise, you do not pay any holding costs or outgoings until completion. So basically, you have secured a property, that with time will appreciate in value over the 1-2 years it takes to build it and you don't need to pay for anything at all. At completion, your property is usually worth more than the price you bought it for. Holding cost include land tax/council rates...Note: There is also a risk that in a falling market, the property may be worth less than what you bought it for. 3. What if I don't get what I was promised in the plans? It should be set out clearly in the contracts what is included in the sale. Upon completion, an inspection would be conducted to ensure the developers deliver what has been promised. The purchaser should always allow for minor discrepancies however if there are any major differences i.e. size, finishes or anything substantial, the right to rescind the contracts can be exercised. You can only cancel the contracts before the contracts are completed (settlement) 4. What if the builder goes Bankrupt? You need to make sure you will get your money back in case this happens. Many builders and developers have gone into bankruptcy and some buyers have lost their deposits. You need to know where your money will be held. Ensure the deposit is paid into, and remains in a trust account as mentioned in point 1 above. Your conveyancer should ensure that you are protected from this scenario. 5. Rising interest rates. Be aware that when you are due to take out finance i.e. at the time near completion, the interest rate could have significantly changed. At the current time if interest rates are low, they can only up in future. Usually the loan process commences up to 3 months before the finance is required. 6. Stamp Duty Exemptions. In some states, stamp duty is discounted or waived when purchasing newly established properties or buying off the plan. This is a saving of thousands of dollars which ordinarily is paid when purchasing real estate in Australia. Check with your state or territory about what incentives, discounts and bonuses are offered to new purchases. You can also ask you local consumer affairs department for information about your rights and responsibilities relating to this topic. Author Hannah Aria CEO Australian Prime Realtor www.primerealtor.com.au

Is now the right time to BUY property in Australia?

We often wonder if we're any better off or even worse off by selling at any point in time or buying when interest rates are low and property prices are on the rise. I am in favour of investing in cities across the country. Some areas are more popular than others and this is a driver for capital growth or good cash flow. When is buying, selling or renting really the right time. This varies for everyone depending on their individual situation. For one with a steady income and where rent is high, it may be beneficial to buy as the difference between the rent and the mortgage may be little. Maybe you're in a cost effective rental and to buy, you will be paying a significantly larger amount that won't be easily serviceable. It is important to do a lot of leg work and research the market before going into the property market as either an investor or owner occupier. Some investors are looking into their super to buy a property however in my opinion, it is better to borrow the money then buy property for tax purposes by negatively gearing and keep super to earn interest and invest in shares. This is touching on the topic briefly and there really is so much more to consider. The first step to take would be to speak to a mortgage consultant and find what loans are available to you. You will know how much you can borrow, what the monthly repayments would be, and if you can afford to buy a property that suits your needs within that budget. Also consider investing in more affordable areas that achieve positive cash flow through rental income. If you want to know what mortgage brokers are out there, feel free to contact me via www.primerealtor.com.au At Australian Prime Realtor, we are committed to helping you with your property and investing needs. Written by Hannah Aria

Selling house and the hidden costs

Not all of us are familiar with the costs associated with selling our home. Agent fees can sometimes be unclear or daunting and on such an important matter, it is essential that we understand exactly what we're in for whether the property is sold or not sold with the listing agent. Often, advertising fees are unavoidable and we are faced with bills amounting to thousands to cover the cost of on-line advertising, printed material, professional photography and sign-boards just to name a few. Wouldn't it be nice if the stress of paying bills when trying to sell your home for the best price possible was removed, and advertising cost were incorporated in the sales commission fee. I agree it would be a much simpler and desired avenue to take when selling house. It is therefore important to shop around for the right agency when you are thinking of selling. Some agents offer 1% + GST. others offer a higher commission percentage minimise the advertising cost. Australian Prime Realtor have a ridiculous promotional offer available to Sydney siders that's is not too good to be true; it's just simple. $4990 covers all the advertising and sales commission, so sell your house with www.primerealtor.com.au and pay no more than $4990.00. I like the sound of that!

Keeping up with Tech and Trends

Everyone wants to stand out from the crowd. How do we stand out when the market is oversaturated with consumer goods and services. How do we get our message out and get ahead. Technology is changing, and the way we go about our daily business should keep up with the changes technology has provided. We need to utilise multiple platforms of online marketing. This means social media, blogs, advertisement sites, business listing sites, video snippets and the list goes on. We need to keep our audience engaged or keep new traffic visiting your online presence interested. Make a list of those ideas listed above and get working!

Which city is the next BIG THING?

We have heard it before, Sydney is one of the most expensive cities in the world to live in. It is loved and has seen huge progress of late in the property stock market. So we might ask the question, which Australian city is set to make waves in the near future? We know Melbourne has also seen growth and is becoming unaffordable in some parts, there is still some areas to snatch up a good home and growth is expected to increase in 2016 even though we are seeing a slower sales rate. What if you could buy a family home for under $400k, or better yet, less than $300,000. We know there are many remote areas where we could buy property and earn a good return, but we want growth, not just a rental income to cover the mortgage. We want to see our investment grow and double the equity within a matter of just a couple of years right? The next city set to see the spotlight has been in the making for some time now. With planning to increase the population, job creation, and affordability, extensive and careful planning around infrastructure are the right ingredients to see this to success. Investors from abroad have their eye on it, and the locals are catching on. Investors with big money and big plans have come from Asia and have purchased sites which will be transformed into high-rise living. Exceptional living quarters will gear this stylish and upcoming city to boom, driving more to own a piece of the pie. So where exactly are we expecting to see large scale developments and outer regions of this city transformed into a cosmopolitan bliss? The Brisbane region is your answer and the magic word is water. Buying can be difficult if you are not familiar with an area. We do require some assistance to determine which street or suburbs are better and how they vary. It's generally a safe bet looking at property with water views. For instance, the prices of property in Freemantle, Western Australia has jumped as its only 30 minutes from Perth but more-so because it is close to the West Coast. If you're not sure how to explore your options or how to go about purchasing interstate, contact www.primerealtor.com.au for more insight.

Looking at investing in Sydney, It's not a bad move!

Well investing in Sydney in 2015 has been somewhat deterrent following the surge of buyers causing home values to increase significantly. The housing bubble may generally be over however some parts of Sydney remain affordable with a promising growth indicator that's been in the making for some years now. Western Sydney has seen tremendous growth and owner occupied properties are at a high. This is great news for first home buyers or anyone making a start to their property portfolio. There is still great opportunity in western Sydney that is said to be the next big thing. So where exactly are we talking about? Somewhere where infrastructure, affordability and population is improving and these are actually improving fast. Sydney's second airport in Badgery's Creek is said to see the first taking off from around 2027 as completion takes a long time. This will be a small airport at first and will expand as time progresses. BLOG BY: Hannah Aria - Prime Realtor Australia