https://www.dailymail.co.uk/news/article-8743659/Australian-teenager-buys-home-aged-just-19-working-hard-McDonalds.html
If this young lady could do it, so can you. It is a matter of hard work and determination. It’s about mindset and seizing the opportunity.
A group member contacted me during the last few days asking whether this is the right time to buy her first home.
There is a big difference between a home and a house just for rental investment. If it is a first home, there are government first home grant and building grant. The building grant applies home-and-land package or building a new home.
Buying an existing property, in the present context implies house, townhouse and apartment, has advantages and disadvantages. A buyer knows that the property is there, and hopefully with building inspection and pest inspection, the risks of buying a lemon is minimised.
Of course, the first thing for one with a sharp mind is these inspections cost money.
A flipped property may look very clean and nice and one can move in without any renovation to worry about, but this can be short term. Do keep in mind many of these properties were purchased and then undergo renovations, some are extensive while others are just superficial. It is difficult to know how good the conditions of the wall and floor are behind the new coat of paint or tiles.
Many excited buyers love the fresh pine barks or gum chips around the flower beds, or new artificial and real lawn laid over the “garden”. Not well prepared ”groundwork” can lead to backbreaking chores to remove the weeds.
If you have been reading my blogs, you would have understood my sentiment about buying off-the-plan, or new construction. Especially during this difficult time, many businesses are facing financial difficulties, compounded with possible material supply problem.
Property owners selling their properties at this unprecedented time are likely experiencing financial difficulty or with health issues. Are the properties kept to acceptable standard? Without physical inspection, it is extremely difficult to know whether the real condition is as good as the digital images depict.
I do a lot of editing with my travel photos; I can brighten, make more contrast, increase or decrease the colour intensity, etc to enhance the originals. Furthermore, a photographer may use different types of lenses to enlarge or elongate a room or living area giving a more impressive view.
By the way, the approach used to distort the real object is challengeable, because it is deceiving and misleading.
Many renters do not realise owning a property incurs more than just rent. Besides their missing out paying council rates and park charges, fire levy, and water rates, some councils also charge annual garbage bins fee. On top of that, living in a multi-townhouse or unit compound or apartment, also incurs owners corporation fee.
Replacement of fence is another cost. On an average the long side of the property incurs a share cost of over $1,000, and the short side is about $900 to $1,000. Normally, the property photos never show the run down fence. Even with physical inspection, many excited buyers never bother to check out the fences around the property.
On top of and electricity usages, the utility companies add supply charges to the bills.
Saving enough plus the government’s generous grants to raise a loan to purchase a property is only the first step. If you are on hands-to-mouth, make sure you are going to look for another income source to pay for the extras, and leave some money in the piggy bank.
Thank you for reading.
A group member contacted me during the last few days asking whether this is the right time to buy her first home.
There is a big difference between a home and a house just for rental investment. If it is a first home, there are government first home grant and building grant. The building grant applies home-and-land package or building a new home.
Buying an existing property, in the present context implies house, townhouse and apartment, has advantages and disadvantages. A buyer knows that the property is there, and hopefully with building inspection and pest inspection, the risks of buying a lemon is minimised.
Of course, the first thing for one with a sharp mind is these inspections cost money.
A flipped property may look very clean and nice and one can move in without any renovation to worry about, but this can be short term. Do keep in mind many of these properties were purchased and then undergo renovations, some are extensive while others are just superficial. It is difficult to know how good the conditions of the wall and floor are behind the new coat of paint or tiles.
Many excited buyers love the fresh pine barks or gum chips around the flower beds, or new artificial and real lawn laid over the “garden”. Not well prepared ”groundwork” can lead to backbreaking chores to remove the weeds.
If you have been reading my blogs, you would have understood my sentiment about buying off-the-plan, or new construction. Especially during this difficult time, many businesses are facing financial difficulties, compounded with possible material supply problem.
Property owners selling their properties at this unprecedented time are likely experiencing financial difficulty or with health issues. Are the properties kept to acceptable standard? Without physical inspection, it is extremely difficult to know whether the real condition is as good as the digital images depict.
I do a lot of editing with my travel photos; I can brighten, make more contrast, increase or decrease the colour intensity, etc to enhance the originals. Furthermore, a photographer may use different types of lenses to enlarge or elongate a room or living area giving a more impressive view.
By the way, the approach used to distort the real object is challengeable, because it is deceiving and misleading.
Many renters do not realise owning a property incurs more than just rent. Besides their missing out paying council rates and park charges, fire levy, and water rates, some councils also charge annual garbage bins fee. On top of that, living in a multi-townhouse or unit compound or apartment, also incurs owners corporation fee.
Replacement of fence is another cost. On an average the long side of the property incurs a share cost of over $1,000, and the short side is about $900 to $1,000. Normally, the property photos never show the run down fence. Even with physical inspection, many excited buyers never bother to check out the fences around the property.
On top of and electricity usages, the utility companies add supply charges to the bills.
Saving enough plus the government’s generous grants to raise a loan to purchase a property is only the first step. If you are on hands-to-mouth, make sure you are going to look for another income source to pay for the extras, and leave some money in the piggy bank.
Thank you for reading.
