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3 Questions Before Building Your Dream Home

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Are you thinking about building your dream home? We’ve talked about the dream home before and the harsh reality is that your dream home – the one that you have always imagined – probably doesn’t exist on the market. That means that if you want a shot at owning it, then you’re going to have to build it yourself. But what questions do you need to answer before you do this? 

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Do You Have The Cash?

You might think that to build your dream home, you have to be a cash buyer and have money in hand. Well, this isn’t quite true because there are loan companies that are willing to lend you the money that you need. You just need to make sure that you can pay a solid amount of the cost and that you don’t need to worry about issues with bad credit. If you do have bad credit, then this can be a slight hurdle but it’s certainly not a complete roadblock. 

In terms of the price of a custom build home, then it can be more expensive than a property that you could find on the market. But remember, you’re paying to get exactly what you want so it’s worth the extra cost if you can afford it. You can also end up gaining a lot from a new build if you sell it on in the future. 

Where Should You Build? 

You do need to think carefully about where you want to build the home. Usually, when you’re looking at luxury homes, everything like environmental issues has been taken into consideration already. So, you don’t have to worry about accidentally ending up with a house on a flood plain. When you build a property from scratch, this is your responsibility. You have to make sure that you are making the right choices with the location and that does include connectivity as well. You won’t be able to build out in the middle of nowhere if a high-speed internet connection is important to you. Instead, you need to build in a place that has a supporting infrastructure which is why you should explore planned development sites. 

How Long Will It Take?

Finally, you do need to think about how long the process will take. This depends on the team that you are using. If you opt to invest in the services of a professional team, to build your property then it shouldn’t take too long at all. Potentially, the right team will have your home upright and ready for you to move in within the first year you start the process. 

We hope this helps you understand some of the key questions that you need to keep in mind when you are thinking about building your dream home. This can be a great decision, but it’s important to approach it the right way and ensure that you are prepared for the challenges that lie ahead. This is always going to start with choosing the right team to help you on this journey. 

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Preparing Your Home For Any Emergency

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As the last few weeks and months have shown us, anything can happen, and our lives can get tipped upside down in a matter of days. Disasters (or viruses) are inevitable. At some point in our lives, we are all likely to experience something like an earthquake, a flood, a storm or a hurricane. Not only that, we can also experience disasters specific to our home, like house fires, flooding, or storm damage. These kinds of things rarely give us any warning, and as such, it is pointless to just worry about them. However, it will help you in case of an emergency, to be prepared. Here are some steps to follow, to ensure that you have a foolproof plan for an emergency.

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Living in a Condo: Is It For You?

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If you are thinking about buying a home, there are many reasons why you may be considering a condo over a standard house or apartment. Condos have never been more popular, particularly with the Boomer population, who are growing older, starting to downsize and move to homes that are easier to look after. As a result, condos are in high demand.

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How to Enjoy Summer In Your Yard

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Life can’t always be fun, but it’s important that we put ourselves in positions to enjoy the food times when they’re presented to us. Take spring and summer, for example. While there are a few downsides that we have to contend with during the season, there’s also much to love — and does it get any better than spending a warm evening out in your yard, with your loved ones? Not in our book. Of course, if you’re going to enjoy these moments to the fullest, then you’ll need to have a backyard that makes it possible to do so. Below, take a look at a few tried and tested tips for making this happen. 

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How to Spot the Ideal Family Home

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Finding the perfect family home, that both has enough space for all of the family, and which makes family life as easy as it can possibly be, is no mean feat, but it can be done.

If you’re looking for your next family home and you want to ensure that you get it absolutely right, here are some tips to help you spot a good thing when you see it:

Check the Floorplan

If you want to find a home that works for you, it’s always a good idea to check out the floor plan. The way a house is laid out can make life really easy or really hard, so it’s of paramount importance that you take this seriously, For example, if the kitchen is three floors down from the bedroom and you have a baby who you need to make bottle for in the night, the thought of slogging up all those steps when you’re already dog tired probably isn’t a good one, or if you have kids who love having the space to run around, a house with a floorplan that isn’t open probably wouldn’t work out too well. Know what you need and bear that in mind when looking at the floorplan.

There’s Scope to Make Changes

Choosing a family home that has space to extend is always a plus because then you can make it what you want and change it to suit your family’s growing needs. Alternatively, you may want to look at the affordability of the house and land package homes in your area because that way you can have a great deal of input into what your house will be like right from the off., The more scope there is to put your family’s stamp on your new home, the better it will be for you all.

Outdoor Space

If you have a young family, outdoor space is vital. It will give the kids the chance to blow off some steam and allow you to spend some quiet relaxation time out in nature, Of course, outdoor space can be expensive, so if you cannot afford a home with a decent sized garden, look for properties that are close to the beach or parkland that you can all make use of instead. If there are lots of places to spend time outdoors, it’s a sure sign you’ve spotted a great family home.

Plenty of Bathrooms

One of the most annoying things about family life is the ques for the bathroom in the morning. Try to find a property where there are two or more bathrooms, or at least the ability to add more in the future, and family life will get a whole lot better.

Low Maintenance

Family life is busy, so if you spot a home that is in really good condition, and which is unlikely to need much maintenance, make an offer! Oh, and low maintenance doesn’t just mean it’s structurally sound, things like tiles or hardwood floors instead of carpet can make a huge difference too!

Good luck finding your perfect family home!

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3 Top Concerns When Buying A Home

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It’s a situation that hopefully all of us will be in at some point in our lives, and it’s something that you want to get right when you are in that situation. Buying a home can however be extremely complex, and it is no wonder that so many people worry about it when it comes to actually doing it. Buying a home requires that you have a good understanding of a number of things and we are going to look into what those things are in this article. As long as you know about the following, you will be able to go through the process of buying a home much more easily and with a much easier way, and the results should be favourably improved. Consider the following in order to do that.

The Mortgage

You of course want to make sure that you are going to find the right mortgage when you are buying a home, as without that it is unlikely you will be able to buy one at all. But a lot of people struggle with finding a mortgage that’s right for them, and much of that is down to a lack of understanding of some of the ins and outs. For a start, make sure that you are fully aware of the differences between types of interest, where one allows for change after a time and another is quite fixed for its duration. Also ensure that you are actually going to be able to give back the amount you borrow. If not, you could land yourself in deep debt trouble, which could include your home being repossessed – unless you manage to make a deal under the mortgage forgiveness debt relief act first.

The Location

You need to of course make sure that you are also happy with the location of the home, and that is something which can be surprisingly difficult to get right. You might think you know what location you want, and then once you look for homes there you decide against it – or it might be that you are still open on where to actually go looking in the first place. Getting the location right is going to be important if you are to enjoy the new home and be truly happy with it, so make sure that you put a considerable amount of effort into this first and foremost.

The Interior

If you are not happy with the interior of the home, you need to keep looking. It really is that simple, yet, it can be hard to make sure that you are really happy with it, especially as the chances are good that you will be altering it in some way once you move in anyway. Still, you want to make sure that you are pleased with the basic layout and foundation of the home, and that you feel it has the potential for improvement in the way that you would hope. As long as that is the case, it should be a home you could consider buying.

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Easy Home Staging Tips For Sellers

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Before selling your home, you need to ensure it is staged in a manner that encourages buyers to want to purchase it. You need to make sure they can see themselves living there. With that being said, read on for some helpful tips.

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Six home staging DON’TS!

 When you are staging your home for a viewing there are some things you just don’t do!

  • DON’T let your pets mingle with the viewers – You may be proud of your lovely little pup, but there is every chance that the buyer will not like dogs. They distract from the house viewing and they don’t smell great either!
  • DON’T answer the door in your slippers – You are a representation of your home. Make an effort to look nice without going over-the-top.
  • DON’T leave unfinished DIY jobs for the potential buyer – Not only does this mean they will have work to contend with upon purchasing the house, but it gives the impression that your property is in bad condition.
  • DON’T leave all of your personal items on show – You may wish to display your niece’s wedding photographs, your child’s baby photos and all the sports awards you have won. However, they stop the viewer from connecting with your property! They need to be out of sight. Use storage units until you move if you have too many items to hide. You can keep your personal items here rather than having them hinder your chances of a sale.
  • DON’T go overboard with smells – Creating a welcoming atmosphere with smell is recommended, but only subtly! Don’t make your house smell like a perfume store or a cherry orchard.
  • DON’T leave things lying around – From your laundry to the phone bill; don’t leave odd bits and pieces lying around the home.

Great tips for creating the right atmosphere to sell your home

Creating the right atmosphere is a must when trying to sell your home! You want the viewers to feel relaxed and at ease, so they feel comfortable enough to take their time browsing your property. It is all about creating that ambience that makes people think ‘I could see myself living here’. Here are two top tips for achieving that feel…

A great way of creating a homely and welcoming vibe is through the use of scented candles. As mentioned above, don’t go overboard. A few carefully placed candles achieve the perfect vibe. Or, you could purchase fragrance sachets. The key is to be subtle with your fragrance selection. You don’t want your viewers to start coughing the moment they walk through your front door.

Another tried and tested way to put someone in the mood for buying is with music. Music helps to put people at ease and it can also make an emotional connection with the viewers. Don’t just play any old song! It must fit in with the style of your home and the individuals that are viewing it. Play the music at a low volume and ensure it is down-tempo. Don’t go for anything too risqué! Keep your selection neutral.

Follow the tips above to stage your home successfully!

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Don’t Settle For a House…Buy a Town!

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There are a lot of unusual properties that are put up for sale, and recently a small town was sold on the eBay website. This town is located in Washington in the United States. It was first established in 1898 when the Gold Rush hit the area and has been there ever since. Now one person owns it all including a log cabin that is 100 years old, a four bedroom ranch, a gas station with a restaurant and now one person also owns the zip code.. Continue Reading

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First homebuyers may be scared off by small rate rises

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Mortgage Choice

Mortgage Choice

Mortgage Choice has surveyed First Homebuyers to get an understanding of what rate rises might mean for them and the property industry at large.

An increase of just two percentage points puts more than a quarter of Australians looking at their first home out of the race. However it should be noted with a rate rise and the fleeing of potential buyers will put downward pressure on property prices negating some of the downside risk.

The survey by Mortgage Choice shows that the majority of First homebuyers are buying to secure their  longtime financial security, and with the instability of the share market of recent times it’s no wonder Australian’s back the property sector. Continue Reading

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Mortgage Choice Top Tips for property investors

Mortgage Choice Top Tips for property investors

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Use the equity from another property

Tapping into your home’s equity, or equity from another property investment, can be a great launching platform for buying an investment property. According to Mortgage Choice’s latest investor survey, 60% of those looking to buy an investment property before mid 2011 plan to access the equity in their home in order to fund all or part of their investment property purchase. How does this work? Say your home is valued at $700,000 and you owe $350,000 on your mortgage, you can use the $350,000 equity in your home to pay for up to 100% of the new property, or if it is more expensive you may be able to borrow more with some lenders.

Pick a loan tailored to your investment strategy

Meeting lending criteria is only half the challenge; another big one is choosing a loan. Think carefully about interest only vs. principal and interest options. Although interest only loans will not reduce the loan amount, they do result in smaller monthly repayments and allow you to make greater contributions to your principal place of residence or to invest in another asset, all the while allowing the investment property to grow in value through capital gains.

Consult a buyers agent/property finder

Seek professional advice about what type of property will maximise your investment. Most investors want property to secure them (as an average over the entire loan term) an annual return on investment that is higher than the costs eg. if net rent is 3% and the interest rate is 7% then it only needs to grow in value at more than 4% to be profitable. Experienced buyers agents know the market better than most and are a valuable resource for advice and for negotiating with property sellers and/or their agents.

Positive vs. negative gearing

Expenses you incur on an investment property are tax deductible. If your loan repayments, fees and other property-related costs exceed your rental income, the net loss can be offset against other income you derive, reducing the amount of tax payable on that income. This is called negative gearing. Or, you may consider positive gearing, where the annual rental income received from the property covers or is higher than the repayments and costs.

Consider all the costs

It is crucial to create a detailed budget outlining your outgoings and earnings. Property investment usually incurs unexpected expenses and it is easy to go over budget on improvements and repairs. Don’t fall into the trap of relying on your property’s income to cover additional costs such as new hot water systems or interest rate rises. Also think about capital gains tax you will have to pay if you decide to sell the property. Be sure to consult your taxation advisor.

Call the customer service centre on 13 MORTGAGE, visit www.mortgagechoice.com.au or www.facebook.com/MortgageChoice or http://twitter.com/MortgageChoice.

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First Time Buyers in a Race for Home

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Eligible first homebuyers will miss out on the leg-up provided by the full First Home Owner Boost (FHOB) if they fail to enter into a purchase contract and receive finance approval before 30 September 2009.

With interest rates almost certainly as low as they will go for another few years and extra money on offer from federal and state governments to purchase a first home, now could be a great time to stop paying your landlord’s mortgage and start paying your own. Continue Reading

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