Created with Sketch.
Real Estate Matters
12 minutes | 3 years ago
What About Pets? - EP062
There’s a reason why dogs are known as ‘man’s best friend.’ Ask anyone who has owned a beloved animal, and they will tell you that pets are family. A proposed change to the Residential Tenancies Act would recognize this by banning unreasonable ‘no pets’ clauses in tenancy agreements. Toni starts by explaining the challenges around repairing any damage caused by pets in a rental property. From deep scratches on a wood floor to the smell caused by accidents on the carpet, there are costs associated with maintaining apartments inhabited by animals. Toni discusses how landlords currently approach pets in their rental properties, often denying applications from pet owners in favor of tenants without pets. She also covers the importance of choosing a size-appropriate rental property for your pets: It’s never a good idea to leave a large dog by itself in a small apartment all day while you’re at work. Toni wraps the podcast with advice about making you and your animal attractive to prospective landlords. Listen in and learn how to win over a property owner so that you and your ‘best friend’ are welcome tenants. Topics Covered The proposed ban on unreasonable ‘no pets’ clauses in tenancy agreements The challenges around repairing damage caused by pets in rental properties How an additional ‘pet bond’ might help cover the costs The current practice of rejecting tenants with pets Choosing a size-appropriate rental property for your pets How references can make you and your animal attractive to landlords Learn More About the Proposed Changes to Law for Renters with Pets For an in-depth look at the reasons behind the proposed change, visit https://www.domain.com.au/news/victorian-renters-may-soon-be-able-to-welcome-pets-into-their-home-20160722-gqbn5q/. To understand the current laws around having pets in rental properties, check out https://www.tuv.org.au/articles/files/resources/Pets_FS_R_062009.pdf and https://www.consumer.vic.gov.au/housing/renting/applying-for-a-rental-property-or-room/pets-and-renting. For a comprehensive overview of proposed changes to the Residential Tenancies Act, see https://www.rent.com.au/blog/say-victorias-renting-laws. If you have additional questions or suggestions for future podcast topics, email Toni at email@example.com, and take advantage of her resources for beginners in real estate at planinsek.com. Additional information regarding Toni’s real estate business can be found at planinsekproperty.com.au, and her business email is firstname.lastname@example.org.
18 minutes | 3 years ago
Do Law Changes Apply to You? - EP061
There are two sides to every story, and the new provisions of the Residential Tenancy Act Overhaul have consequences—good and bad—for both tenants and landlords. In a perfect world, real estate law would strike a balance that protects all parties involved. Today, Toni looks at the proposed changes through both lenses, exploring which provisions seem to favor landlords and which ones champion tenants. Toni begins by explaining the modifications that influence bond, including the measure that will restrict landlords from charging more than one month’s rent for all tenancies under $760 per week, and a mandate that will afford tenants their full bond if no claim is made within 14 days. She goes on to discuss new laws that require landlords to disclose the presence of asbestos as well as their future plans to sell the property. Toni covers several changes that seem to favor tenants over landlords, such as a proposed ban on rental bidding and the requirement that landlords offer a reason for termination of tenancy. She takes a closer look at the provision that will provide faster reimbursement for tenants who pay for urgent repairs and the measure that allows tenants to make ‘minor property modifications.’ Toni concludes the episode by exploring the difficulty of defining terms like ‘reasonable’ and ‘minor modifications,’ and her disbelief around a change that prohibits landlords and agents from lying to tenants. Listen in to understand the Residential Tenancy Act Overhaul and how it is likely to impact you! Topics Covered Who is affected by the impending overhaul to the Residential Tenancy Act The proposed changes around faster payments and rental bonds Surprising new laws regarding asbestos and deceptive representation The fairness of requiring landlords to inform tenants of future plans to sell The landlord and agent ‘blacklist’ How restrictions on rental bidding disadvantage landlords How proposed changes to rental pricing benefit tenants The pros and cons of requiring landlords to give reason for termination of tenancy The problematic vagueness of ‘minor property modifications’ Learn More About the Residential Tenancy Act Overhaul Links to articles about proposed law changes can be found at: https://www.broadsheet.com.au/melbourne/city-file/article/new-tenancy-laws-victoria http://domainandco.com.au/residential-tenancies-update https://www.vic.gov.au/property-planning/real-estate-property/renting-leasing-tenancy.html Try to identify any bias, either towards landlords or tenants. And remember, consumers have their say whether as a tenant or as a landlord. This is a State Government issue, so all it takes is a phone call to your local member to make your voice heard. Visit the Real Estate Institute of Victoria at https://reiv.com.au/. If you have additional questions or suggestions for future podcast topics, email Toni at email@example.com, and take advantage of her resources for beginners in real estate at planinsek.com. Additional information regarding Toni’s real estate business can be found at planinsekproperty.com.au, and her business email is firstname.lastname@example.org.
21 minutes | 4 years ago
Finding Your Investment Property - EP060
Though it is tempting to start your hunt for an investment property with the search itself, finding property is actually the last step of the process. Examine your financial position and figure out how much you can borrow first, then look at real estate. Welcome to part three of Toni’s three-part series around building wealth through investment property. Today she reviews the three ways you generate income through a real estate investment, explaining how land breeds an increase in capital growth while the property itself has a greater impact on rental returns. Toni teaches you how to research capital growth and do the necessary math to determine how much rental return you need to cover a mortgage payment. She also speaks to the concept of thinking like a tenant, considering features like car space, proximity to the city, and view when determining potential rental return. Toni wraps the episode with a reminder that there are no guarantees when it comes to investing in real estate, as circumstances beyond our control can influence property value. Listen in and learn how to minimize your risk and find an investment property that offers the right combination of rental return and capital growth! Topics Covered Why choosing an investment property is a ‘sharp pencil exercise’ The three ways an investment property generates income Why land increases in value while property decreases How to research capital growth potential Why apartments afford a bigger rental return but less capital growth How to think like a tenant The pros and cons of weatherboard vs. brick How capital growth may be affected by circumstances beyond your control The features of a property that attract tenants Why Toni recommends two-bedroom properties Why you shouldn’t even look at properties you can’t afford Learn More About Finding Property Research capital growth at https://www.realestate.com/ and https://www.domain.com.au/. Access Toni’s free email course, Buying Your First Property, at http://planinsek.com/property-resources/buying-first-property/. f you have additional questions or suggestions for future podcast topics, email Toni at email@example.com, and take advantage of her resources for beginners in real estate at planinsek.com. Additional information regarding Toni’s real estate business can be found at planinsekproperty.com.au, and her business email is firstname.lastname@example.org.
22 minutes | 4 years ago
Real Estate Matters - EP059
Once you understand your financial position, the next step in buying property is getting ahold of the money. The vast majority of us don’t have the purchase price lying around, so it becomes necessary to seek out a mortgage from a lender. Incidentally, the word mortgage means ‘death pledge,’ but the process doesn’t have to be that formidable—as long as you have the right information and professional advice. Today, Toni walks us through the three sources for money to purchase a home, explaining the benefits of borrowing to secure capital gains. She speaks to the difference between good debt and bad debt, and what makes a home a good investment. Toni covers the option to work with a mortgage broker versus a bank, discussing why she prefers a mortgage broker and how they utilize software to find the loan products that suit you best. She outlines the characteristics to look for in a mortgage broker and why you should understand where their commission is coming from. Finally, Toni talks about how aggregators function as the middlemen between brokers and banks, and why it’s a good idea to talk to more than one mortgage broker. Listen in to understand how to analyze the total cost of a particular loan and make good decisions around your money. Topics Covered The three places money for a house might come from The benefits of borrowing money for a home Good debt versus bad debt The two different mortgage providers Why Toni recommends using a mortgage broker Factors that affect your credit score The wide range of products offered by banks How mortgage brokers determine which mortgages suit you best How to understand the total cost of a loan What to look for in a mortgage broker How a mortgage broker earns commission The role of the aggregator Why Chocolate Home Loans pays brokers the same percentage for every loan Toni’s advice around talking to more than one mortgage broker Why you should ask a mortgage broker for references The pros and cons of meeting with a mortgage broker via Zoom or Skype Learn More About Mortgages Find more information about credit scores at moneysmart.gov.au/borrowing-and-credit/borrowing-basics/credit-scores. Get the basics of mortgage loans at en.wikipedia.org/wiki/Mortgage_loan. Understand the role of a mortgage broker by visiting en.wikipedia.org/wiki/Mortgage_broker. Access a mortgage calculator at moneysmart.gov.au/tools-and-resources/calculators-and-apps/mortgage-calculator. Sign up for Toni’s free email course on buying your first property at planinsek.com/property-resources/buying-first-property/. Revisit Episode 57 of Real Estate Matters at planinsek.com/whats-happening-mortgages-podcast-episode-57/. Visit Carl Scheriani’s website at loanmarket.com.au/carl-scheriani. Take Carl up on his offer for a free credit file, email him at email@example.com or give him a call at 0412 352 900. If you have additional questions or suggestions for future podcast topics, email Toni at firstname.lastname@example.org, and take advantage of her resources for beginners in real estate at planinsek.com. Additional information regarding Toni’s real estate business can be found at planinsekproperty.com.au, and her business email is email@example.com.
24 minutes | 4 years ago
Financing an Investment Property - EP58
Perhaps the most accessible way for the ‘average person’ to build wealth is through investment property. But before you can purchase an investment property, it is important to fully understand both your financial position and the true income potential of the property itself. Today, Toni speaks to the concept of investment property as a means of accumulating wealth, both historically and in the current financial climate. She explains the considerations behind compulsory superannuation and the taxation benefits available to people who own multiple properties. Toni goes on to cover capital growth, explaining its advantages over earned interest from a savings account, for example. She discusses the three ways an investment property generates income, including rental return, capital growth, and negative gearing, as well as how your stage in life affects decisions in each area. Toni also walks through the expenses you must factor in to calculate your true rental return, such as maintenance, owners corporation fees, and vacancies. She wraps the episode by stressing the significance of understanding what you can really afford before you start looking for investment property and doing the math for repayments, should interest rates rise. Listen in and learn how to look at the numbers as you explore the possibility of building wealth through investment property! Topics Covered How investment property helps the average person build wealth Why the government established compulsory superannuation The government incentives in place to help people buy investment property The benefit of capital growth The three ways an investment property brings in money Why you cannot count on income from negative gearing How your stage of life affects decisions around rental return vs. capital growth How to calculate true rental return The need for a maintenance plan How to budget for vacancies The importance of understanding your financial circumstances The rise in Melbourne property values over the past 100 years The decision to sell or borrow against increased equity to buy additional property How to calculate your repayments should interest rates increase The rules around increasing rent for tenants Learn More About Financing an Investment Property Read Toni’s blog post, Know Your Numbers, at http://planinsek.com/know-your-numbers/. For detailed information about understanding your financial position, take a look at Toni's Worksheet! If you have additional questions or suggestions for future podcast topics, email Toni at firstname.lastname@example.org, and take advantage of her resources for beginners in real estate at planinsek.com. Additional information regarding Toni’s real estate business can be found at planinsekproperty.com.au, and her business email is email@example.com. To subscribe to the podcast, please use the links below Click Here to Subscribe via iTunes Click here to Subscribe via Stitcher (Android users) If you like the show, please consider leaving the show a review in iTunes or Stitcher. A couple minutes of your time can help the show immensely! Thanks!
29 minutes | 4 years ago
What's Happening with Mortgages? - EP57
If you’re considering a dive into the real estate market for the first time, you may be wondering what the waters are like right now. What do you need to know about obtaining a loan from the bank? How might your credit score influence your chances? How can you use changes in stamp duty to your advantage? Today, Toni is speaking with Carl Scheriani, Senior Mortgage Broker with The Loan Market Group in Melbourne. Carl explains how the recent revisions to stamp duty affect first-time home buyers and the grants available for house and land purchases. He shares the current climate in banking, discussing the industry’s willingness to lend to first-time home buyers, the current state of valuation, and why they cannot lend more—despite being flush with funds. Toni and Carl continue with an analysis of the segmentation in the market and how general trends reported in the news don’t always reflect what’s actually happening. They cover the advantages and disadvantages of buying an investment property to get into the market and why it’s a good idea to consult a mortgage broker. Toni and Carl also speak to the factors beyond interest rates that you must take into consideration when negotiating a home loan with the bank, the severity of penalty fees, and the fundamentals of mortgage insurance. Finally, they explain what the market is like for investors, explaining why refinancing may or may not be a good idea at the moment and why it seems as if the banks are ‘anti-investor.’ Listen in to understand how your credit score affects your chances of getting a mortgage and what to do to repair your credit if necessary! About Carl Scheriani Since 2010, Carl Scheriani has served as Senior Mortgage Broker with The Loan Market, one of Australia’s largest mortgage and insurance broking businesses. In the last 20 years, the firm has helped secure over $50B of finance for their customers, and they celebrate an impressive 95% customer satisfaction rating. Carl specializes in all forms of residential and investment lending, and he is licensed to more than 36 banks and financial institutions. Topics Covered How changes in stamp duty are affecting first-time home buyers The government grants available for first-time buyers constructing homes The banks’ current attitude toward first-time home buyers The area of real estate in which valuations are tighter than usual Which banks have an appetite to lend for properties under 50m2 Why banks are not lending despite being flush with funds How Carl factors quality-of-life into his counsel for first-time home buyers The segmentation of the real estate market How many first-time buyers can afford the entry point introduced by stamp duty incentives Carl’s take on how government incentives affect the real estate market The pros and cons of buying an investment property to get into the market Why Toni recommends working with a mortgage broker Why being denied a bank loan may not have anything to do with you The feasibility of advertising claims that renters could buy a comparable home for $450/month Why the interest rate on a loan is just one of many factors to consider How mortgage insurance prevents banks from failing Why refinancing may or may not be a good idea for investors in the current climate How the government cap on lending is making banks ‘anti-investor’ How your credit score impacts your ability to secure a loan Learn More About the Loan Market Visit Carl’s website at https://www.loanmarket.com.au/carl-scheriani. Take Carl up on his offer for a free credit file, email him at firstname.lastname@example.org or give him a call at 0412 352 900. Revisit Real Estate Matters Episode 2, The Real Cost of Real Estate, at http://planinsek.com/real-cost-property-purchase-dont-get-caught-short/. Learn More About Flammable Cladding The latest news on cladding can be found at http://www.news.com.au/national/breaking-news/govt-rejects-flammable-cladding-import-ban/news-story/0eed0dd30ff47cf92f540c06c49d7213. Order your copy of Toni’s book, Her Property, at http://planinsek.com/product/her-property-book/. If you have additional questions or suggestions for future podcast topics, email Toni at email@example.com, and take advantage of her resources for beginners in real estate at planinsek.com. Additional information regarding Toni’s real estate business can be found at planinsekproperty.com.au, and her business email is firstname.lastname@example.org.
14 minutes | 4 years ago
Who’s Watching out for Your Safety? - EP56
You may trust that government and industry are looking out for your best interests, but the sad truth is that is not always the case. In fact, when it comes to flammable cladding, money has won out over human life once again. And despite the tragic fires in London and Melbourne, little has been done to address the issue in an industry where self-regulation is clearly not enough.Toni begins with a review of the catastrophic events at the Grenfell Tower in 2017 and the LaCrosse complex in 2014, explaining who has been appointed to the bipartisan taskforce in Victoria to address the issue of Toni begins with a review of the catastrophic events at the Grenfell Tower in 2017 and the LaCrosse complex in 2014, explaining who has been appointed to the bipartisan taskforce in Victoria to address the issue of non-compliant flammable cladding. She shares her surprise at some of the Senate committee’s recommendations, and the proposed ban on the importation, sale and use of PE cladding. Toni continues with a list of recent headlines around cladding, addressing the serious safety concerns, the proposed national audit, and the full extent of the crisis. She speaks to the role the insurance industry could play in forcing action, how the struggle to obtain coverage would impact a buyer’s ability to get a mortgage, and who might foot the bill to replace non-compliant cladding. Finally, Toni discusses how the industry managed to lose sight of the value of human life in an attempt to meet demand and maximize profits. Learn why your awareness of the non-compliant cladding issue is crucial, and who you can talk to about the possibility that your building contains this dangerous material. Topics Covered The newly formed Victorian Cladding Taskforce The 2017 Grenfell Tower and 2014 Melbourne Docklands fires Recent media headlines related to the flammable cladding issue Why Toni was stunned by some of the recommendations in the Senate committee report How the insurance industry may ‘force the issue’ of building compliance The ramifications beyond safety associated with cladding How insurance premiums may be affected by cladding The need for public pressure to ensure government action on the cladding issue Why the Senate committee’s recommended ban wasn’t supported by Coalition members The insurance council’s proposed national audit to uncover the extent of the cladding problem The insurance industry’s push for an overhaul of the regulatory system How developers lose sight of the importance of human life in an attempt to meet demand Who to ask about potential cladding in your building How flammable cladding could influence the apartment market as a whole Who is responsible for replacing flammable cladding and the associated expense Learn More About Government Intervention with Flammable Cladding Read the full media release, ‘Taskforce to Address Cladding in Victoria,’ at http://www.premier.vic.gov.au/wp-content/uploads/2017/07/170703-Taskforce-To-Address-Cladding-In-Victoria.pdf. The complete ABC news article ‘Buildings with Non-Compliant Cladding May Not Get Insurance, Industry Warns’ is available at http://www.abc.net.au/news/2017-09-08/buildings-with-non-compliant-cladding-may-not-be-insured/8885162. The other flammable cladding articles mentioned in this podcast can be found at the following web addresses: ‘Australian High-Rises Swathed in Flammable Cladding Despite Suppliers Knowing of Risks’ http://www.abc.net.au/news/2017-09-04/australian-high-rises-swathed-in-flammable-cladding/8862784 ‘Queensland Bodies Corporate May Have Pay to Rip Out Combustible Cladding Once Deemed Safe’ http://www.abc.net.au/news/2017-09-05/bodies-corporate-may-have-to-pay-for-cladding-inspections/8871094 ‘Who Foots the Bill for Cladding Remediation?’ http://www.abc.net.au/radio/programs/pm/who-foots-the-bill-for-cladding-remediation/8875714 ‘Public Have a Right to Know on Cladding’ http://www.theherald.com.au/story/4901401/public-have-a-right-to-know-on-cladding/ ‘Leaders Call for Action as Full Cladding Debacle Exposed’ https://sourceable.net/leaders-call-action-full-cladding-debacle-exposed/ ‘Strata Body Calls for Federal Action to Fix Cladding Issue in Four Corners Aftermath’ http://www.propertyobserver.com.au/forward-planning/investment-strategy/property-news-and-insights/75461-strata-body-calls-for-federal-action-to-fix-cladding-issue-in-four-corners-aftermath.html ‘Cladding is the Asbestos of 2017: Experts Fear Apartment Cladding Crisis’ https://www.domain.com.au/news/cladding-is-the-asbestos-of-2017-experts-fear-apartment-cladding-crisis-20170901-gy8kkl/ ‘Senate Calls for Flammable Cladding Ban’ https://www.thefifthestate.com.au/innovation/building-construction/senate-committee-calls-for-flammable-cladding-ban ‘Someone Will Be Burnt to Death: Senate Demands Ban on Flammable Cladding http://www.theage.com.au/victoria/someone-will-be-burnt-to-death-senate-demands-ban-on-flammable-cladding-20170906-gyc7oi.html ‘When to Worry About Your Apartment’s Cladding’ http://www.afr.com/personal-finance/when-to-worry-about-your-apartments-cladding-20170906-gyc8wl ‘A Matter of Urgency: Ban Use of Combustible Aluminum Panels—Senate Report http://www.afr.com/real-estate/a-matter-of-urgency-ban-use-of-combustible-aluminium-panels--senate-report-20170906-gybrzh ‘Non-Compliant Cladding? Your Building May Struggle to Get Insurance’ http://www.afr.com/real-estate/noncompliant-cladding-your-building-may-struggle-to-get-insurance-20170907-gycoe0 ‘Federal Government Washing Its Hands of Cladding Issue: Strata Body’ http://www.propertyobserver.com.au/forward-planning/investment-strategy/property-news-and-insights/75687-federal-government-washing-its-hands-of-cladding-issue-strata-body.html ‘High Rise Owners Face Bill for Replacing Dangerous Cladding’ http://www.afr.com/personal-finance/high-rise-owners-face-bill-for-replacing-dangerous-cladding-20170915-gyibju The Parliament of Australia’s Interim Report on Aluminum Composite Cladding is available at http://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/Non-conforming45th/Interim_report_cladding Information around flammable cladding audits is located at http://www.vic.strata.community/documents/Newsletter/October/Compliance%20External%20Walls%20.pdf. Order your copy of Toni’s book, Her Property, at http://planinsek.com/product/her-property-book/. If you have additional questions or suggestions for future podcast topics, email Toni at email@example.com, and take advantage of her resources for beginners in real estate at planinsek.com. Additional information regarding Toni’s real estate business can be found at planinsekproperty.com.au, and her business email is firstname.lastname@example.org. To subscribe to the podcast, please use the links below Click Here to Subscribe via iTunes Click here to Subscribe via Stitcher (Android users) If you like the show, please consider leaving the show a review in iTunes or Stitcher. A couple minutes of your time can help the show immensely! Thanks!
22 minutes | 4 years ago
Living with Strangers -EP55
You may think you know someone, but until you’ve actually lived under the same roof, it is hard to gauge what kind of housemate that person might be. Irritation is inevitable when you are sharing your home, but there are ways to mitigate the frustration and protect yourself from undue financial burden. Toni is joined by Laura Caruana, a Brunswick renter with a unique approach to flatmates. Laura explains how she came to meet her first housemates through work, and what they were looking for in an apartment. She shares her tactics for replacing housemates as necessary and how the Fairy Floss Facebook group connects prospective flatmates. Toni and Laura go on to talk about how relationship dynamics change once you live with someone you know. Laura shares how she and her flatmates approach the fundamental aspects of sharing a home, including household duties, paying bills, the fair division of rent, and privacy. Lauren also discusses her experience with living in New York and Chicago and the lack of consumer protections for renters in the States, and Toni covers safety considerations around living with strangers and the lawmaking each tenant responsible for the entire rent. Having flatmates can be a positive experience, as long as everyone pulls their weight. Listen and learn to protect yourself—and your credit score down the road! About Laura Caruana Laura Caruana rents from a Planinsek Property landlord in Brunswick. She is uniquely qualified to discuss the topic of sharing an apartment, having had four different housemates since moving to Brunswick June of last year. Laura can also speak to the experience of renting in the US, having lived in both New York and Chicago while taking classes in comedy and standup. Laura studied acting at University of Ballarat, and she currently works as front of the house supervisor at Hellenic Republic Restaurant. Topics Covered How Laura went about finding and replacing flatmates What Laura and her housemates were looking for in an apartment Why Laura is more comfortable living with men than women How working at a restaurant makes finding flatmates easier The Fairy Floss Facebook group How relationship dynamics change when you live with someone you already know The issues around cleanliness in common areas How Laura and her flatmates divide the rent How Laura and her flatmates approach household tasks Laura’s advice regarding bills How Laura and her flatmates deal with the issue of privacy How living with colleagues can present awkward situations Laura’s experience living in the US How Laura found accommodations in the States The lack of consumer protections for renters in NYC The safety concerns for young women considering male flatmates How tenant agreements hold renters accountable How failure to pay rent/bills can affect your credit score Learn More About Private Rentals and Flatmates For help getting in private rentals, visit housing.vic.gov.au/help-get-private-rental. Information regarding support for private renters can be found at housing.vic.gov.au/support-private-renters. Resources around financial help for private renters is located at housing.vic.gov.au/financial-help-private-renters. Access Consumer Affairs Victoria through their website, consumer.vic.gov.au/housing/renting, or download their smartphone app at consumer.vic.gov.au/housing/renting/rentright-app. Contact the Residential Tenancies Bond Authority (RBTA) through rentalbonds.vic.gov.au. Order your copy of Toni’s book, Her Property, at http://planinsek.com/product/her-property-book/. If you have additional questions or suggestions for future podcast topics, email Toni at email@example.com, and take advantage of her resources for beginners in real estate at planinsek.com.
14 minutes | 4 years ago
Do You Want Big Brother Watching You? -EP54
‘Big Brother is watching you.’ Ominous, yes? This well-known phrase from George Orwell’s political satire, 1984, is invoked often in reference to government control and invasion of privacy. Toni is troubled by some of the changes in tax policy around vacant property that seem a little too much like Big Brother. How much control are you willing to concede to the Commonwealth? Today on the podcast, Toni revisits the changes to property taxation on the state and federal levels. She covers the new rules around stamp duty that will help first-time home buyers, the 50% cap on foreign investors in new off-the-plan developments, and how this Foreign Investment Review Board cap may be a game changer for developers building high-rises in major metropolitan areas. Toni explains the clause in off-the-plan contracts that allows either party to walk away if construction isn’t completed by a certain date, and why unscrupulous developers are triggering the clause deliberately. She also touches on the change to GST for new home buyers. Toni ends with a deep dive into the taxes on vacant property at the state and federal levels, clarifying who is affected and how homeowners may try to get around it. She shares her concerns about the laws, asking what right the government has to tell its citizens what they can and cannot do with their property. While Toni supports the law’s intent to address the affordable housing shortage, she cautions us to consider the implications of allowing for such strict government control. Listen in to learn about how property law changes and their associated timelines may affect you—for better or worse! Topics Covered The new rules around stamp duty for first-time home buyers The cap on foreign investors in new off-the-plan developments How well high-rises will sell with the cap on foreign investors How unscrupulous developers are taking advantage of the sunset clause The necessity for penalties if builders walk away from a contract The changes to GST for new home buyers The origin of the term ‘Big Brother’ The new state-level VRPT tax on vacant dwellings How the federal vacant foreign resident tax affects overseas owners Toni’s concerns about the taxes on vacant property How improved building standards in Melbourne may affect property values down the road Learn More About Changes to Property Law Access the KCL Law newsletter outlining legislative changes around ownership and investment at kcllaw.com.au/news/property-law-update-the-times-theyre-a-changin. Learn more about George Orwell’s novel at www.amazon.com/1984-Signet-Classics-George-Orwell/dp/0451524934. If you have additional questions or suggestions for future podcast topics, email Toni at firstname.lastname@example.org, and take advantage of her resources for beginners in real estate at planinsek.com. Additional information regarding Toni’s real estate business can be found at planinsekproperty.com.au, and her business email is email@example.com.
31 minutes | 4 years ago
How's Your Financial Literacy? - EP53
It should come as no surprise that if you have never been taught financial literacy, you are likely to struggle with money management. We live in a tap-and-go society where money is no longer a tangible entity, and our children don’t fully understand the implications of their financial transactions—even using debit cards at the school canteen! Today on Real Estate Matters, Toni talks to Katrina Birch, CEO of the Financial Basics Foundation. Katrina explains the charity’s mission to educate young people in Australia about money management, borrowing and credit via the development of top-notch free resources for secondary schools. She shares the surprising origin of the foundation and its major sponsors, and how corporate support led to the reboot of its online financial literacy game, ESSI Money. Toni and Katrina go on to discuss the lack of coursework around financial literacy in Australia and how the ‘have now, pay later’ model leads to troubling behaviors. They cover the implications of a cashless society, how parents can support financial literacy by involving their kids in financial conversations, and the disservice we do to our students by omitting money management from high-level academic math coursework. Toni and Katrina conclude with a discussion of why children in poor communities are better at budgeting than affluent kids and how parents can make money tangible for their children. Katrina explains why knowledge gained at school together with attitudes and behaviors practiced at home provide the strongest foundation for financial literacy. Listen in to learn how Katrina developed the drive to empower young people to gain control of their finances and where you can find the resources to do the same! About Katrina Birch Katrina Birch is the Director and CEO of the Financial Basics Foundation, a national non-profit organization working to ensure that every young Australian is financially capable. The charity develops quality teaching resources and provides those tools to secondary schools free of charge. Katrina began working as a consultant for the foundation in 2004, and has served in her current role since 2011. She has devoted her career to youth welfare, and Katrina’s resume includes 20-plus years with government and not-for-profit organizations: She was involved in the deinstitutionalization of young people with disabilities in Queensland and served as the State Manager of CanTeen Queensland, a charity supporting young people with cancer. Topics Covered The vision of the Financial Basics Foundation Who established the charity How corporate sponsorship facilitates the work of the Financial Basics Foundation How the ESSI Money simulation game teaches financial literacy The lack of financial literacy coursework in Australia’s education system How our cashless society leads to concerning behaviors around money Why children in poor communities tend to have a better understanding of money than affluent kids The role of parents in initiating financial conversations Katrina’s advice regarding payday loans Why financial literacy should be a priority Why young women are earning more but have less financial security to show for it The way financial literacy is left out of high-level academic math courses Katrina’s view that financial literacy is a combination of knowledge, skills, attitudes and behaviors How to make money tangible for children The way growing up in abundance protects children from learning about money The importance of practicing financial literacy concepts How Katrina’s lack of control of her own finances gave her the drive to empower young people Why a lack of financial literacy makes you vulnerable Learn More About Financial Literacy Visit the Financial Basics Foundation at http://www.financialbasics.org.au/. Contact Kristina Birch at the Financial Basics Foundation— Phone: 03 9610 4919 Postal: Level 7, 525 Flinders Street, Melbourne Vic 3000 Hone your financial literacy at the Australian Securities & Investments Commission website, https://www.moneysmart.gov.au/. Learn more about money management at https://www.moneysmart.gov.au/managing-your-money, and get the 411 on credit at https://www.moneysmart.gov.au/borrowing-and-credit. Explore ASIC’s publications on borrowing and credit at https://www.moneysmart.gov.au/tools-and-resources/publications#borrowing-and-credit. Order your copy of Toni’s book, Her Property, at http://planinsek.com/product/her-property-book/. If you have additional questions or suggestions for future podcast topics, email Toni at firstname.lastname@example.org, and take advantage of her resources for beginners in real estate at planinsek.com. Additional information regarding Toni’s real estate business can be found at planinsekproperty.com.au, and her business email is email@example.com.
18 minutes | 4 years ago
Anxious Young Women - EP52
The National Australia Bank recently released its Q1 Wellbeing Report, and the findings are troubling: Young women related the lowest wellbeing of all groups, a full 50% reporting high levels of anxiety. The report identified relationships and home ownership among the factors that caused concern for young women, and today Toni discusses why otherwise clever young women have difficulty navigating their finances, and the steps they can take to get educated around money, credit and savings. Toni begins with a comprehensive analysis of the issue: Why are young women anxious? She shares a related scenario discussed on The Barefoot Investor’s blog about a 26-year-old woman making $75K. Despite her success, the young woman had accumulated a heap of debt and the anxiety that goes along with it. Toni dives into the reasons why educated young people lack practical life skills around finances. Toni then explores debt in more detail, discussing some unexpected factors that affect your credit score, ignorance around interest rates and the misleading marketing rhetoric of payday loans. She goes on to stress the significance of financial independence, especially for young women. Finally, Toni covers how her generation learned to save, and how credit has changed the financial game—both for the better and worse. She highlights some simple steps you can take to start saving and encourages young people to get informed about money management. You are vulnerable when you are ill-informed, and as a former educator, Toni is on a crusade to give young people a broad understanding of real estate and to alleviate the anxiety that stems from financial illiteracy! Topics Covered The findings of the NAB Wellbeing Report Q1 2017 The upsetting statistics around young women and anxiety How the themes of home ownership and relationships affect anxiety levels The significance of self-worth and hope for the future in reducing anxiety The Barefoot Investor’s take on the NAB Wellbeing Report How a young woman making $75K accumulated debt and anxiety Why young people are not educated in the areas of money, credit or interest rates Society’s role in keeping girls ill-informed about finance and savings The misleading language around payday loans How owning a home plays into the Australian Dream The myth of a man on a white horse The need for young women to be financially independent How much financial illiteracy costs the nation Why otherwise clever young women may not know how to manage money The role of banks in improving financial literacy How the baby boomer generation learned to save The pros and cons of credit How cutting back on little things can save significant amounts of money Why a lack of understanding makes you vulnerable Toni’s crusade to inform young women about finance and real estate Learn More About Home Ownership Among Young Women Read the NAB Wellbeing Report at http://business.nab.com.au/wp-content/uploads/2017/07/australian-wellbeing-survey-q12017.pdf. Check out The Balance article, “Why More Single Women Are Becoming First-Time Home Buyers” at thebalance.com/single-women-buy-homes-too-1798358, and “More Women Own Their Own Home” in Domain at domain.com.au/news/more-women-own-their-own-home-20130729-2qtl8/. View the Sweeney Research Report: Westpac Gen Y Women and Home Ownership at https://www.westpac.com.au/docs/pdf/aw/Westpac_GenYFemales-FocusedAndSavvy__Executive_Summary.pdf. Learn more about the Barefoot Investor and his take on why young women are anxious at https://barefootinvestor.com/young-women-miserable/. Order your copy of Toni’s book, Her Property, at http://planinsek.com/product/her-property-book/. To learn the fable of The Richest Man in Babylon by George S. Clason, go to amazon.com/Richest-Man-Babylon-George-Clason/dp/0451205367. If you have additional questions or suggestions for future podcast topics, email Toni at firstname.lastname@example.org, and take advantage of her resources for beginners in real estate at planinsek.com. Additional information regarding Toni’s real estate business can be found at planinsekproperty.com.au, and her business email is email@example.com.
27 minutes | 4 years ago
What is a Buyers' Agent? - EP51
You don’t know what you don’t know, and buying your first home is one of those situations where an expert-advocate can save you a lot of anxiety and perhaps even a lot of money in the long run. On today’s episode of Real Estate Matters, Toni is speaking with Martine Chauvin, Director of Prime Estate, regarding the function of a buyer’s agent. Toni and Martine explore the qualifications necessary to become a buyer’s advocate as well as the role the buyer’s agent plays in the real estate acquisition process. They get specific about how the buyer’s advocate comes to understand her client’s needs and helps them navigate the minefield that is real estate to find the best option within their budget. Martine goes on to share the packages Prime Estate offers, explaining the transparent nature of their fees and how capping their rate at the agent’s upper quote range works to establish trust with clients. The explore the emotional nature of bidding at auction and the benefits associated with having a buyer’s agent do the negotiating for you. Toni and Martine also discuss the need for compromise when a client seems to be looking for a ‘needle in a haystack,’ and why first-time home buyers should think of the purchase as a stepping stone. Listen in to understand that the selling agent ultimately works for the vendor, and how you might benefit from employing an advocate of your own. If you’re feeling overwhelmed or uncertain about the quality of the advice you’re getting, a buyer’s agent may be exactly what you need! About Martine Chauvin Martine Chauvin is a buyer’s agent with Prime Estate, a boutique advocacy company based in South Melbourne. She prides herself on honesty, enthusiasm and total dedication to all her clients. Add to that Martine’s strong communication and organisation skills, and it is easy to see why she has such a high success rate in securing properties for her clients, both privately and at auction. She has been in the real estate industry for just over three years now, and recently completed all the coursework necessary to become a licensed real estate agent. Prime Estate has been negotiating properties on behalf of clients since 2004, and it has earned a reputation for being one of the most respected buyer’s advocacy firms in the Melbourne property market. Topics Covered Martine’s qualifications as a buyer’s agent/advocate The responsibilities of a buyer’s agent How a buyer’s advocate determines buyer criteria Why the buyer’s agent views a first home purchase as a stepping stone The service area covered by Prime Estate The benefits of using a buyer’s advocate How the buyer’s agent helps you make an informed decision The most important documents to analyze in considering an apartment The two packages Martine’s firm offers The fees associated with employing Prime Estate Martine’s mission to find clients the best property in the marketplace How Prime Estate caps its fees to instill confidence The emotional component of bidding at auction and its consequences How using a buyer’s agent at auction takes away the emotional component The differences between an investment client versus a first-time home buyer Why it may be necessary to reassess your criteria if you’ve been looking for a while Learn More About Using a Buyer’s Agent To learn more about Martine’s firm, visit primeestate.com/au. If you have additional questions or suggestions for future podcast topics, email Toni at firstname.lastname@example.org, and take advantage of her resources for beginners in real estate at planinsek.com. Additional information regarding Toni’s real estate business can be found at planinsekproperty.com.au, and her business email is email@example.com.
25 minutes | 4 years ago
Finding a 'Decent' Property Manager- EP50
As the saying goes, one bad apple can spoil the whole barrel. When an agency is caught renting 21 properties to drug traffickers, for example, it tarnishes the image of the profession as a whole. But there are decent agencies out there, and today Toni will provide you with five questions to ask that will help you find a property manager that is both trustworthy and competent. Toni begins with the story of her own agency’s brush with a drug operation, explaining how they discovered that the tenants were growing marijuana as well as the police raid that followed. She goes on to explain why a real estate director is responsible for every agent working under her license, and why revoking the license would be appropriate in the case of the recent scandal involving City Wide Real Estate. Toni goes on to identify the five questions you should address in order to identify a ‘decent’ property manager: 1) When do you pay your landlords? 2) How can you help me get the most capital growth? 3) How can you ensure I get the best rental returns? 4) How can you help me with my taxes? 5) What happens if I don’t get an application in the first week? Toni explains what the answers to each question can tell you about the property manager’s character and aptitude, and she ends the episode with a discussion of the landlord’s responsibilities to his tenants. Listen in to understand Toni’s ‘we all win when we all win’ philosophy—and how to avoid the bad apples in the business. Topics Covered The recent exposé re: multiple properties rented to drug traffickers How Planinsek Property Group approaches inspections Victoria’s laws around the timing of inspections Toni’s experience with tenants growing marijuana Why a real estate director is responsible for every agent working under her license The five questions you should ask to identify a ‘decent’ property manager How processing rents and paying immediately benefits a landlord How to determine whether a property manager has your financial interests at heart Why a good property manager has a maintenance plan in mind How upkeep affects capital growth How market conditions affect rental returns Why a ‘decent’ property manager schedules annual rent increases How software facilitates end-of-financial-year reports with all necessary tax info How much you should be paying an agency to pay your bills and provide an annual report The importance of flexibility and communication in a property manager Why you need to know the property manager’s strategy if you don’t receive an application in the first week The landlord’s responsibility to his tenants Learn More About Finding a ‘Decent’ Property Manager For additional information about Toni’s agency, Planinsek Property Group, visit www.planinsekproperty.com.au. To learn more about the scandal involving the agency renting to drug traffickers, see www.domain.com.au/news/real-estate-director-in-hot-water-over-renting-21-properties-to-drug-trafficker-20170711-gx7x0z/. More information about working with property managers can be found at www.consumer.vic.gov.au/housing/renting/using-a-property-manager. To understand the rights and responsibilities of being a landlord, visit www.fairtrading.nsw.gov.au/ftw/Tenants_and_home_owners/Being_a_landlord.page. Toni welcomes questions and comments! Feel free to email her at firstname.lastname@example.org!
21 minutes | 4 years ago
What Changes in Property Laws Mean for You - EP49
If you are new to real estate, navigating the market is a challenge. Real Estate Matters seeks to help beginners gain a general understanding of what is happening and keep up with changes that might affect you as first-time home buyers and investors. In the last year, a number of legislative changes regarding property ownership and investment have emerged, and today Toni speaks with Peter Gray, Head of Sales with Planinsek Property Group, to offer a brief overview of the new regulations as compiled by the property law experts at KCL Law. Toni and Peter begin with the new rules around stamp duty and their impact on first-time home buyers. The also cover off-the-plan stamp duty concessions, explaining what the changes mean for purchasers of non-residential developments versus buyers eligible for the principle place of residence concession. They also address what is perhaps the most perplexing of the legislative changes, the new vacant residential property tax or VRPT, which levies a tax on residential properties in certain areas of Melbourne that are vacant for six months or more. Toni and Peter talk through how the tax will be calculated and argue the feasibility of enforcing a policy that requires self-reporting. Toni and Peter conclude with a discussion of the changes to GST for home buyers purchasing newly constructed residential properties, and the government’s ongoing efforts to prevent the practice of underquoting. Listen in to hear Peter’s assessment of the current market as well as his prediction of what Spring has in store—and how the new legislation might impact the real estate market. Topics Covered How the rules around stamp duty are changing How stamp duty changes are affecting the market The new regulations regarding off-the-plan stamp duty concessions for non-residential developments How developers are reacting to the new OTP stamp duty concession parameters Why the new OPT stamp duty rules may put off investors The new vacant residential property tax (VRPT) How VRPT will be calculated The exemptions to VRPT The feasibility of enforcing VRPT The changes to GST for new home buyers Why ATO implemented changes to GST protocol The rules in place to prevent underquoting The problem with letting agents choose the three comparable property sales The benefits of choosing appropriate comparables The penalties to agencies for underquoting The unpredictability of selling at auction Peter’s assessment of the current market and predictions for the Spring Learn More About Changes to Property Law Access the KCL Law newsletter outlining legislative changes around ownership and investment at http://www.kcllaw.com.au/news/property-law-update-the-times-theyre-a-changin/. For additional information about the areas affected by VRPT, see http://www.vic.gov.au/affordablehousing/buying-a-house-in-victoria/re-balancing-the-market.html. The two listing portals mentioned in this episode can be found at domain.com.au and realestate.com.au.
23 minutes | 4 years ago
Selling at Auction -EP48
Buying real estate can be nerve-wracking, as your home is likely the most expensive purchase you will make. But selling real estate can cause just as much anxiety, and in this episode of Real Estate Matters, Toni is taking a look at residential real estate from a different point of view – that of the vendor. Toni explains the fundamentals of selling through her recent experiences with two friends in her building, Rowan and Sally. Sally had been transferred to Sydney for work, but she didn’t necessarily have to sell her property. On the other hand, Rowan had purchased another unit in the same building and had to sell. Through the two anecdotes, Toni explores the options available to a vendor in each scenario, discussing the agent-vendor relationship leading up to the auction, the vocabulary associated with the auction itself, and the emotional ups and downs of selling your property. Additionally, Toni offers advice around preparing for an auction, explaining how to remain calm and make intelligent financial decisions if the bidding has not reached your reserve. Should you put your home ‘on the market’? Offer it for private sale and seek bridge financing to buy time? Or take it off the market and eat the advertising costs? Listen in to find out how Toni’s friends fared at auction, and why you should be aware of the going price for similar properties in your neighborhood. Topics Covered What a dream auction looks like The challenges associated with buying before you’ve sold The pros and cons of using the same agent to buy and sell The pressure to sell once you’ve invested in an advertising campaign Why agents should overcommunicate with vendors The practice of ‘crunching’ a vendor The emotional highs and lows of selling Why state governments are trying to prevent ‘underquoting’ The strategy of advertising a lower price range to start, then raising as auction approaches The circumstances around Sally’s auction The tense mood of Rowan’s auction What it means to be ‘on the market’ The outcomes of both auctions in Toni’s building Why vendors must know their numbers Why agents will push vendors to sell Why a vendor should think through each scenario prior to auction The importance of checking your listing for errors Why you should be aware of what comparable properties in your building/neighborhood are selling for Learn More About Selling at Auction To understand the language of selling at auction, visit https://www.consumer.vic.gov.au/housing/buying-and-selling-property/buying-property/buying-property-at-auction The two listing portals mentioned in this episode can be found at domain.com.au and realestate.com.au. Toni welcomes questions and comments! Feel free to email her at email@example.com!
30 minutes | 4 years ago
Good Legal Property Advice - EP47
Do you like surprises? Probably not when it comes to buying your first home. No one wants to experience a settlement gone wrong, or find out that their master bedroom is actually much smaller than what they signed up for. In this episode of Real Estate Matters, Toni interviews Jessica Hill, an experienced solicitor at Lanyon Partners, about the benefits of getting good legal advice as a first-time homebuyer. Toni and Jess cover the differences between a conveyancer and a solicitor, including training, regulation and professional insurance. Jess explains the advantages of hiring a solicitor to do your conveyancing, and offers several scenarios of what might go wrong at settlement. They get into the nitty-gritty of off-the-plan purchases, discussing how contracts are drafted in favor of the developer and what features of the property developers have the right to change – including car parks, finishes, and even room size! Jess also shares her own experience as a first-time homebuyer, explaining why she was anxious despite having a thorough understanding of the process. She and Toni address the stress of valuation and how the market affects contract negotiations as well as the personality of the valuer. Finally, Toni and Jess highlight the importance of getting sound legal advice prior to signing a contract of sale and understanding your rights around asking for changes and buying conditionally upon the approval of a solicitor. About Jessica Hill Jessica Hill is an associate at Lanyon Partners Legal. She attended Ruyton Girls’ School and Deakin University before obtaining her Graduate Diploma in Legal Practice from Leo Cussens Centre for Law in 2011. Jess completed several seasonal clerkships with Redvers Read during her studies, and she worked with the firm as a lawyer and associate for four years after being admitted to practice in the Supreme Court of Victoria in 2012. She joined Lanyon Partners a year ago, and she serves as a member of the Law Institute of Victoria Young Lawyers Community Issues Committee. Topics Covered What property law training solicitors receive The benefits of hiring a solicitor for conveyancing What can go wrong in the settlement process The difficulties associated with simultaneous settlements How compensation works when simultaneous settlements go wrong The pros and cons of off-the-plan purchases How off-the-plan contracts are drafted in favor of developers How a solicitor can assist in understanding off-the-plan contracts The differences between solicitors and conveyancers with regard to regulations, insurance Why your first home purchase is a daunting process Why valuations are more conservative in the current market Why it’s advantageous to go through a mortgage broker The importance of building a team you trust to advise you in the home buying process Why you must get advice before you sign a contract of sale How the current marketplace affects contract negotiations How to negotiate a contract of sale Connect with Jessica Hill Lanyon Partners Phone: 03 9861 6100 Postal: PO Box 204, Camberwell VIC 3124 Address: Level 3, 3 Prospect Hill Road, Camberwell VIC 3124 Learn More About Property Law Legislation For information specific to Victoria, visit legislation.vic.gov.au/Domino/Web_Notes/LDMS/PubLawToday.nsf/95c43dd4eac71a68ca256dde00056e7b/49195a820eb52117ca2572d700081241!OpenDocument Property Law changes from State to State. Google ‘property legislation’ for your State to learn more. Toni welcomes questions and comments! Feel free to email her at firstname.lastname@example.org!
25 minutes | 4 years ago
Sharing a Rental - EP46
If you can’t afford a home on your own, then you might want to consider sharing a rental property with others…But what should you take into consideration first? In this episode of Real Estate Matters, Toni speaks to a tenant who rents a property with two others through her real estate agency, Planinsek Property Group. Kyle Lawrence currently rents a three-bedroom apartment with two other adults. Toni first asks him how he found the other tenants. Kyle, like many young people, met his original co-tenants through university or through friends, but after that, he used the website Flatmates.com.au. Kyle explains to Toni how Flatmates.com.au works, and the kinds of things you can search for in potential co-tenants. Then Toni and Kyle get into the details about sharing a flat. First, they tackle the lease and discuss whether it’s better to have one person or all the co-tenants on the lease. And Toni has some words of warning about who is responsible for the rent if one or more people doesn’t pay! After that, Toni and Kyle discuss the “softer” side of renting together: how to split the rent, how to cope with different-sized rooms, how to keep track of food and bills, and what to do if one of you wants to have someone over. Finally, Kyle explains that his strategy of being very clear up front about expectations, even minor things like whether you can wear shoes in the property, has helped him to be very successful in a shared flat. Topics Covered Where to start if you want to find co-tenants How Flatmates.com.au works (and other rental sharing websites), and what information you’ll need Who needs to sign the lease on a shared flat? What happens if one tenant doesn’t pay rent? Who’s responsible? Who’s responsible if something in the property gets damaged? Should rent be split evenly, or based on room size? What might you want to consider if you’re living with mixed genders in the same property? Other considerations for living with new people How to communicate expectations up front to avoid conflict later Learn More About Sharing a Rental If you’d like to know more about finding someone to share a rental with, have a look at these websites: com.au com.au/share EasyRoommate.com Toni welcomes questions and comments! Feel free to email her at email@example.com!
21 minutes | 4 years ago
Understanding Property Values - EP45
Do you know the key factors that contribute to a property’s value? What can make it gain or lose value? And do you know how a property is valued, and by whom? In this episode of Real Estate Matters, Toni tackles all of these questions so that whether you’re a buyer or a seller, you can better understand what makes up property values. Toni first explains the types of valuations you might see for a property. A real estate agent can give you a market appraisal, but mortgage companies will require you to have a sworn valuation. Toni explains the difference and why it’s important. There’s a difference between the value of land and the value of any improvements (or what’s built above the land). Both elements go into the value of a property, and they can both change independently. Toni looks at the factors that can change the values of both land and houses, and how they interact. She also provides some examples where that dynamic affected property prices for her clients in unexpected ways. Toni then gives us some advice about how to look at properties with a critical eye when it comes to their values. She gives us some tips about what to look for, and what to ignore, when you’re considering a property, and how you might be able to expect that property’s value to change over time. For instance, she looks especially at the different considerations for apartments and period properties. Finally, Toni sums up by recapping the main points from this episode’s discussion. Topics Covered The difference between an agent’s market appraisal and a valuer’s sworn valuation Why the land in a property holds most of the value How to get a feel for the value of land compared to an average in that suburb How both land and house values change with time, on average How apartments and period houses can be different from other houses The relationship of land value to scarcity Important factors that can affect the value of land The factors that don’t materially affect the value of land Learn More About Property Values For property advice in Victoria, please visit the website of the Real Estate Institute of Victoria. Domain.com.au and RealEstate.com.au both show sales data for “comparable properties” at the bottom of their listings. This can be a great resource for learning how they define comparable properties, and what the similarities are. Toni welcomes questions and comments! Feel free to email her at firstname.lastname@example.org!
22 minutes | 4 years ago
Falling House Prices? - EP44
Is it true that house prices are falling? And if so, should you be worried about it? In this episode of Real Estate Matters, Toni Planinsek is back explaining some more of the real estate headlines hitting news outlets in recent weeks. One of the frequent themes is the fear that house prices will fall, especially off the back of the July 1st law giving first-time buyers relief from stamp duty. Toni explains that speaking about the housing market in general terms often belies the detail in more granular markets. She highlights a report showing that house prices in Melbourne between the 1900s and 90s only raised by 8% on average; but within that, some markets sharply increased and some declined. Toni gives examples of recent markets that deviated from the 2010-12 average decline of 10%; even in that period of overall decline, many markets were winners. Sometimes whether your home gained or lost value even depended on whether you own a house or unit! In this episode, Toni emphasizes that home and property ownership should be looked at as a long-term investment. She gives examples of factors that can have drastic effects on capsule markets, but stresses that things can change quickly. If you are caught by one of the “Three Ds” – death, debt, or divorce – buying and selling may be unavoidable, but outside of that, Toni suggests why even a slightly depressed market could be a good time to buy. Topics Covered Recap: the July 1st new legislation for first-time buyers, which relieves stamp duty on property Some of the current views on where the market will go with the new legislation How an average house price can mask more complex dynamics The average change in the selling price of Melbourne homes in the last century The “Three Ds” – and why they can be problematic for homeowners Figures from various markets in the 2010-12 decline How the apartment oversupply in Melbourne may affect house prices Other changes, some societal, that affect house price movement Why property should be thought of as a long-term investment Resources Mentioned: Property Data & Analytics from CoreLogic.com Articles from Domain.com First-home buyers utilize stamp duty cuts and upper end of Melbourne auction market slows Total number of Melbourne auctions slides down to 732 despite cuts to stamp duty Stamp duty cuts yet to show their full impact on Sydney auction clearance rates Toni welcomes questions and comments! Feel free to email her at email@example.com!
29 minutes | 4 years ago
Financing a House and Land Package - EP43
If you’re looking for an investment property and want to save on some of the stamp duty, it may be worth considering a house and land package. But what’s the difference between that and a traditional mortgage? What are the risks? In this episode of Real Estate Matters, Toni interviews mortgage broker Laurence Kennedy about the benefits and potential pitfalls of house and land packages. First, Toni and Laurence discuss what makes a house and land package different from a traditional property. Laurence explains how the mortgage is divided between the land and the building, and the key stages when you or your lender will owe money to developers. They then discuss how the difference in payment schemes could result in saving tens of thousands of dollars on stamp duty. But what happens if a builder goes bust before the building is completed? Toni and Laurence discuss whose responsibility it is to find a new builder, and what you can do to protect yourself. They also discuss how such an event can impact your payments, and your cash flow in particular. For investors looking to rent the property out once it’s completed, there are several things to consider, including time scales. Toni and Laurence discuss the financial implications of buying a house and land package as an investment, particularly the time difference between your first payment and when you can start making income from rent. Finally, Toni gives out some tips about what to look for in a builder, and where you should look for more advice if you’re not sure of the process. About Laurence Kennedy Laurence Kennedy is a mortgage broker specializing in house and land packages. He owns his own finance company, Early Bird Finance. Topics Covered What’s the difference between a house and land mortgage vs. a traditional mortgage To what part or parts of a house and land purchase does stamp duty apply? When do you have to start making repayments on a house and land mortgage? Who puts their money in first, the bank or you? What happens when a builder goes bust in the middle of a build The importance of an independent building inspector at all stages of a build What do your payments look like while the house is being built? What your loan looks like once the house is built on the land The risks vs. rewards to investors buying a house and land package Contact Laurence Kennedy If you would like to learn more about Laurence’s company, Early Bird Finance, please visit their Facebook page. To contact Laurence directly: Mob: 0420 793 443 Fax: 03 8648 6380 Email: firstname.lastname@example.org Office 2/72 Railway Ave Ringwood East Toni welcomes questions and comments! Feel free to email her at email@example.com!
Terms of Service
Do Not Sell My Personal Information
© Stitcher 2021