Body corporate fees paid by owners of units, villas, apartments or townhouses can vary greatly depending on the number of owners in a block and the standard and extent of common property. Often the single biggest component of these fees though is strata insurance. Many owners and body corporate committees will leave the choice of strata insurer to their body corporate manager and act on their reco... »
There are countless books and articles written about how you can pay off your home loan quickly. The key strategies to do so can basically be summarised into the following points: 1. Maximise you and your partner’s job and/or business income. 2. Buy a home with a loan amount that is not too high relative to your salary – if you over-commit in the first place this will make the task of ... »
When getting a home loan for a principal place of residence (PPOR), you will usually have the option of putting repayments of the principal loan amount (and any extra cash savings on top of this) either into a redraw account attached to the home loan or into a 100% home loan offset account. In both cases, the cash that goes into either the redraw account or offset account reduces the effective int... »
We haven’t used buyers agents in the past as we prefer to buy property directly on our own, though would consider one if buying interstate. For those who are very time poor, then it may be worth considering too if the alternative is not being able to buy any property at all due to this lack of time. When deciding on using a buyers agent you need to make sure you choose one that charges a tra... »
It’s often written that when deciding whether or not to fix your property loan interest rates you should be very careful as banks will make money out of your loan regardless of whether you fix or not, and that statistically the majority of times when people fix interest rates they end up losing money compared to their position had they remained on variable interest rates. While it is probably true... »
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