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first home buyer stamp duty exemption original

Getting ahead in the property market or even getting your foot in the door has proven increasingly difficult over past years with property prices only continuing to rise with purchasing a property being out of reach for so many people. It's not all doom and gloom as the NSW government has just announced they will help first home buyers get into the property market with more than $1 billion of stamp duty concessions and measures to level the playing field with investors under reforms unveiled by Premier Gladys Berejiklian to tackle housing affordability. 

Under the package, first home buyers of existing and new properties costing up to $650,000 will be exempt from paying stamp duty from July 1 2017. The changes to stamp duty concessions are estimated to deliver savings of up to $24,740 for a first home buyer in NSW. As well, the 9 per cent stamp duty charged on lenders' mortgage insurance – often required by banks lending to first home buyers with small deposits – will be abolished.

Money Tree Image1Depreciation is one of the best tax breaks available to property investors, but you’ll need a depreciation schedule in order to claim it.

A depreciation schedule can save you money, which is what we are all looking for right! Below shows what a property depreciation schedule is and how to go about creating one.

Bank-LoanSecuring a home loan with a new bank is a relationship you want to get right.

It’s important to find a bank which offers the right products and level of service you’re looking for. But, how do know when you've found the 'one'? 

Here are five key signs to help you decide, the right loan for your circumstances. 

Hype

There’s always so much hype surrounding the property market but with the media’s coverage in overdrive it can cloud our view on how some suburbs are performing. As you have no doubt read and heard, many have predicted the Sydney property market will start, and has indeed begun to level out making it easier for first home buyers to enter the market. But is this really the case?

HOUSE1Just like a relationship, sometimes a property comes with baggage too…in the form of existing tenants! Any empty house and a new set of keys awaits most home buyers at settlement, but some will inherit a tenant and a house full of somebody else’s belongings.

If you’re happy for the tenants to continue to live in your new home and pay you rent until their lease expires then there’s no problem,

 

mindsetThe mind is a powerful thing: it can help us make many big life decisions. But it can also hinder us.

So is your mindset holding you back from buying your dream property? Here are five common questions that play with buyers’ minds.

Should you choose with your heart or your head?

Property-EquityxDid you know you can use the equity in your house to finance the purchase of an investment property?

We sat down with Bankwest Lending General Manager Carolyn Morris to learn some of the basics.

"Many first-time investors are unaware it's possible to use the equity they have built up in their home to  finance or buy an investment property," says Morris.