Home Ownership

Live In Your House Or Move Out During A Renovation?

Home Renovations

Is it time for a renovation? Have you thought about whether you will continue to live in your house or move out during the renovation process? It is a good idea to list down the pros and cons before making a decision.

Live In Your House Or Move Out? Advantages Of Staying In Your Home
It’s nice to think there won’t be too many changes and disruptions during a home renovation, but what are the real advantages of renovating and being able to live in your house in the middle of a renovation?

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Budget 2018 – Changes For Property Buyers And Sellers

The 2018 Budget will bring many changes for property buyers and sellers. Some of the new changes tabled in the May Budget will likely have an indirect effect on both the residential and commercial property sectors.

The Budget will more than likely mean that interest rates will not be an issue, as the President of the Real Estate Institute of Australia Malcolm Gunning says: “This expected interest rate stability comes at a time when housing prices in some of our major cities are showing signs of easing, leading to improved affordability for first homebuyers.”

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Refinancing – How Much Can You Save On Your Home Loan

Live in your house or move out?

Refinancing is the process of replacing an existing home loan with a new one. It means your existing home loan is paid out and replaced with a new home loan. This is different from a second mortgage, where you draw on the equity you have built up in your home. Refinancing is all about giving you greater flexibility and saving you money in the long term.

Refinancing your home loan could save thousands of dollars over the life of your loan. There are a number ways to reduce the interest you pay on your mortgage. It is well worth shopping around for a lower rate and more product features.

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The Family Factor: Should You Buy Property With a Loved One?

Family walking together in park

Purchasing a property with a loved one can be a great way to enter to the property market, but taking on such a large financial responsibility with someone else does come with risks.

This article will discuss some of the pros and cons you need to consider before you both sign your names on the purchase contract.

On the one hand, buying with another person gives you more options when you’re finding a property. As the old saying goes, 2 hands are better than one. On the other hand, life happens. You are effectively signing up for the loved one’s portion of the debt if they can’t pay it.

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Home Loan Post Settlement Tips

OneSite Finance - Mortgage Heros

Here are 5 simple tips to help get you set up once your loan settles.

1. Contact your Mortgage Broker prior to the expiry of any fixed interest or interest only period – to research your options.

2. If you used to rent out the property as investment and are moving in, contact your Mortgage Broker. You can get a much cheaper rate for changing to an owner occupied loan product.

3. Ask your Broker for an annual home loan review. See if there’s a better loan product.

4. Check internet banking regularly to ensure loan transactions, notifications and repayments are all OK.

5. Don’t forget to change your mailing address after settlement.

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5 Tips To Reduce Your Home Loan Interest Rate

Coins

Here are 5 simple tips to help you get a reduction on your home loan interest rate.

1. Switch to Principle and Interest and pay your loan off faster.

2. Owner Occupiers qualify for lower rates. Have you moved into a property you bought as an investment?

3. Negotiate With Your Current Lender. Lenders would rather give you a discount than see you leave.

4. Switch Loan Products. Newer, better products come out all the time. It’s always well worth looking to see if there’s something more suitable out there.

5. Property Revaluation. An increase in the value of your property may come with a big interest discount.

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What Happens If Nobody Wins At An Auction?

Real estate auction

Selling is not always a certainty at auction. In NSW and VIC for example, around 25% of all auctioned properties are passed in (according to realestate.com.au).

What does this mean for the vendors and prospective buyers if no one wins the auction?

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Low-Cost Ways To Give Your Apartment A Makeover

Couple holding paint roller and tray and examining blue paint samples on living room wall

If your apartment is looking a bit tired but you think renovations will be difficult – not to mention expensive – you might be surprised at how easy it is to give a small space a big makeover.

Whether you’re preparing to sell or rent your property, or you just feel like a fresh look, renovating an apartment can be rewarding. Apartments and units generally have smaller spaces than houses, so a revamp is your chance to think creatively.

We’re not talking major work here – external changes or major structural work.

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What To Do Before Applying For A Loan

Credit Score

Are you thinking of purchasing a property? Whether you are looking for a home or an investment loan, here are some things you need to do before applying for a loan.

This article will help you understand what Lenders are looking for in a customer. How to be the customer they want to deal with and extend credit to.

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20 New NSW Strata Laws To Be Aware Of

NSW Strata Law Changes

There are more than 90 changes to the strata laws that come into force in NSW on November 30, 2016.

If you live or own property that is part of a strata scheme, here are the 20 new or updated rules that will affect you most. From forced sales or upgrades, to tenant reps, strata management contract term limits and debt collection.

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