Any drop in interest rates is promoted widely as “good news” for the housing market and whilst a drop in rates may on the surface bode well for mortgage holders wanting to pay down debt, the bleak reality remains that for savers, many of whom are would-be first-home buyers, the news is not good at all according to Catherine Cashmore. She tells us why today.
When you are considering purchasing a property, the majority of people think more bedrooms equals higher value. It’s a rational line of thinking given you can get a higher return renting by the room, so more rooms would suggest more renters.
James Freudigmann from Propell Valuers takes a different view.
Where do you stand if you want to buy some land in your Self Managed Super Fund and then build a home on it to retire later in life? Well that’s a question we answer for a listener and also whether it makes more sense to pay down a home loan or sock money into your super fund.
Property prices are on the rise in the inner suburbs, where most of the value is in the land, and, as a result, they will turn to townhouses and apartments as a more affordable alternative. In many cases, they’re not only buying the title to a property, they are also taking on a wider responsibility to other owners in the development, by joining an owner’s corporation. Before you buy in a development with an owner’s corporation, it is essential to understand your potential financial liabilities and other responsibilities as a member. We give you the 5 ways people go wrong when investing in a unit or townhouse.
Also in today’s show we discuss landlord insurance and any other insurance you might need if you are going to rent out a holiday unit. Also how to handle the bond if you are going to holiday lett a property yourself and not use an agent.
We will give away another 12 month subscription to Australian Property Investor magazine to our question of the week. Keep them coming in because that lets us know what you want to hear.