Home design trends don’t change as quickly as fashion trends do but they certainly evolve, creating room for new ideas and stylish themes. With property prices in Sydney still soaring high, homeowners and investors continue to improve on the aesthetics of their properties in an attempt to increase their purchase price or rental value.
The Great Aussie Dream, the one where we all own a home, can be challenging in reality. With housing costs on the rise, paying the full amount in cash simply isn’t an option for most people anymore and this is the reason home loans exist.
The median house price has gone up yet again and has now reached a whopping $1,000,500 in Sydney and $715,549 in Melbourne. With the rising cost of housing in Australia’s capital cities, it’s becoming increasingly challenging, even unaffordable to get into the property market. Given the recent housing pricing trends, investors and aspiring homeowners have begun looking elsewhere for their next property.
Property investment in Australia has great potential for more growth. Even in places like Sydney, where house prices have been nudging upwards for years, investors see nice investment opportunities because of the limited supply of property and the tax concessions available.
Many of us—especially those who are into property investment—have already heard of land tax. The problem is not all of us are aware of the specifics (regulations, developments, exemptions, rates, and thresholds) that apply.
The property manager—a professional who runs and oversees your property portfolio on your behalf—is, in many ways, often the unsung hero of the property investment market. Without an experienced property manager, there’s a possibility that your property investments could go to waste and you could find yourself at a severe disadvantage.
Mortgage insurance, also commonly known as lender’s mortgage insurance or LMI, is used to protect lenders in case a borrower defaults on their loan. It is important to understand that LMI does not give the borrower any protection and in fact the insurer could come after the borrower for any shortfall in recovered funds.
There are now a record 2.05 million taxpayer individuals with an ownership interest in a rental property in Australia.