Buying a house is scary, complex and insanely expensive. But that doesn't make it impossible - despite what real estate doomsayers claim. This info-guide from Hones Lawyers breaks down the key steps that every potential home buying needs to be aware of.
Tagged With house hunting
A successful home loan application generally requires a steady job. However, there are a range of additional factors that can seriously hamper your borrowing power with banks, even if your salary is higher than average. This superhero-themed infographic outlines the various occupational pitfalls that can trip up applicants.
In an industry first, rental search site Rent.com.au has added NBN status to its full listings, making it much easier to find a property with access to super-fast broadband. With a click of a button, prospective renters can see whether a house or apartment currently has access to the NBN - as well as the type of technology being used. The number of connected homes is higher than you might think.
When politicians talk about tax and fairness, it's easy for them to point out undeserved loopholes benefiting the wealthy, or multinational companies. But the elephant in the room is the difference between those who own and those who rent (or have recently bought and have huge mortgages) the house they live in. The tax advantages of housing offend against justice on every count: they place financial stresses on the poor, they are unequal, and the increase in price is not deserved.
Flongle is a new crowdsourcing website that assists customers in finding the best home loan by making banks and mortgage brokers bid against each other. Billed as the world’s first “mortgage contest”, the site allows home buyers to post their ideal mortgage anonymously. You can then sit back and watch as banks, non-bank lenders and brokers compete to "win" the loan.
Buying a house involves more than slapping down a deposit and moving in. There are all manner of hidden costs and financial complexities that ramp up the total price significantly. Once you factor in stamp duty, conveyance fees, mortgage insurance and miscellaneous bank fees, you can expect to pay tens of thousands of dollars more than the advertised price tag -- and that's before you take interest, council rates and general upkeep into account. Here are some tips that will help to keep the total cost down to a less terrifying level.