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| Buying Tips |
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It is important to ask yourself these questions.
Where do I want to live?
What type of property do I want to live in?
It is important to visit areas which interest you and get a feel for the area, what is the energy level like, what are the amenities like, can I see myself living here, have I chosen an area with good resale value.
Not only is it more enjoyable living in a great area with good amenities, but it will also enhance your property’s value and appeal when it comes time to sell.
What is a good Location?
• Areas close to amenities and transport links, whether they be cities or large regional hubs always perform well.
• Areas with good urban planning and natural beauty are always on top of the list.
• Consider growth areas with easy access to amenities.
• Avoid areas close to busy roads and industrial areas.
• Remember noise levels, smells and pollution can be emitted from these areas at different levels at different times of the day. If you need to be close to these areas, make sure you visit the property at different times of the day to access the impact on your lifestyle.
• Once you have decided where you want to live, it’s time to consider what do you want to live in?
• Make a checklist of needs and wishes, how many bedrooms, land size, access, pools, but be prepared to compromise on some things.
• Do you want to renovate? Maybe the ugliest house in the best street is an option, there are many hidden gems to be uncovered.
• Look for a special feature, maybe it’s a water view or simply a large backyard, or fantastic position.
The internet is a powerful tool for finding property. There are many Real Estate sites which offer online inspections, virtual tours, and loads of photographs.
Visit www.propertylovers.com.au and register your interest today, or visit our office at 2/20 North Shore Drive, Burpengary and speak to the friendly staff.
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| Buyers Check List |
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• Do I feel good about the neighbourhood and will I be happy living here?
• Do I have my finances in order and my loan approved?
• Make sure you use the services of a building and pest inspector, a small outlay at the beginning could save you thousands of dollars.
• Do I need a professional valuation prepared for the property?
• Will I receive good capital growth and resale value?
• Are there long term costs or body corporate fees?
• Are all council approvals in place?
• Does the style of property suit the climate?
• Is the property insulated, will it be warm in winter and cool in summer?
• What type of title is the property? Torrens Title, Strata Title, Company Title, or some other. Ask your Solicitor to advise on the title.
• Check with local council about planning issues. E.g. Large developments, construction of roads, changes to zoning.
• If large scale modifications are planned for the property, make sure costings are in order before making an offer.
• Is the property suitable for your stage in life? Are there too many steps; is the yard too big or steep?
• Are there enough bedrooms?
• Is there enough garage and storage space?
• Consider access to schools, daycare, transport, doctors, and shops.
• Are there enough bathrooms and toilets
• Is the garden suitable for your needs or can it be modified.
• Are there traffic issues entering and exiting the property.
• Consider noise and smells.
• Is the property safe for children, elderly and pets?
• Are you happy with the building’s security?
• Visit the property in wet weather if possible, will it drain properly, check for moisture under the house.
• Is there risk of flooding or erosion?
• Consider maintenance and upkeep of the property.
• Have I researched the local area
• How will the purchase impact on my work, family, recreation and friends?
• Take your time, don’t be pressured into any decisions you are not happy with.
• Consider getting an electrician to inspect and test the electrical system at the property.
• This checklist is available in forms so you can download and print it out at your convenience.
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| Purchase an Investment Property with your Superannuation |
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Superannuation Funds, including SMSF’s operate under a very strict regulatory regime comprising
the Superannuation Industry Supervision Act (SIS Act) and the Superannuation Industry
Supervision Regulations Act (SIS Regs).
Superannuation Funds have generally not been able to borrow funds, however this exception has
come about due to the increasing popularity of “Instalment Warrants” as a Super Fund investment
and received Royal Assent on 24th September 2007.
The borrowing does not have to be for property it can be for any other assets that a Super Fund is
permitted to purchase.
It must be a limited recourse loan and assets of the Super Fund cannot be used as security other than the asset being purchased.
The main assets which a Super Fund is prohibited from acquiring are:
1) Acquiring Assets from related partners. i.e.: own property.
2) Acquiring certain in house assets. i.e.: Investment or loan to a related entity.
You must use cash as the deposit for the property. i.e.: Cannot use other assets of the SMSF, Shares or other Property as security.
What are the benefits?
1) Being able to leverage your superannuation Fund.
2) Doesn’t tie up all your funds into one asset class.
3) Lower tax rate of 15%. No tax at all when in pension phase Including capital gains tax.
Where to now?
If this is something that you would like to discuss further. Please contact our office on
(07) 5452 7206 to make an appointment to review your own scenario.
Disclaimer: In preparing any advice and information in this presentation, I Kevin P Scambler have not taken into account any particular persons objectives, financial situation or needs.
Individuals should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs.
We recommend investors obtain financial advice specific to their situation before making any financial or investment decision.
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