Month: September 2016
Talk to any working-class Australians about their future financial plan and home ownership is likely to come up in your conversation. So, when is the right time to invest in your own property? If you have a steady flow of income, stable job, and you have no other heavy financial constraints, then you’re better off starting early.
Property is a long-term investment, something that comes with a lot of risk, however, this is something that you can overcome with proper research, planning, and right execution. If you’re set on taking the plunge with property investment, then follow the tips below:
Start with the right mindset. Most young, first-time investors look to get rich as fast as possible and pay little mind that property investment is a serious commitment. Consider your long-term financial independence by thinking 10 or even 20 years ahead in your investment plan. Talk with others who invested in properties at a young age. This will give you a more realistic view of your financial journey, what sacrifices you will face and of course, the sweet rewards.
Start saving. This may seem like an impossible task while you’re still young and starting out, lenders look for evidence of prior and consistent savings over time, so it’s vital to start now. Start a good saving habit from an early stage, but putting aside a specific amount of money from any income every month and ensure that you stick to it!
Pay heed to your credit record. Many of us consider it normal to pay bills past their due date and have multiple debt while we’re still young, but this won’t do us any favour when trying to acquire an investment property. The recent changes to Australia’s credit reporting system allows them to see your recorded credit report. This can give you disadvantage as it gives an impression to lenders that you’re likely to miss your payments in the future.
Brush up on your negotiating skills. Not all of us are adept at negotiation, much less with a property’s price. It will take a lot of confidence to be able to negotiate a good price, but practicing this skill will let you have a better chance of getting a more favourable deal not only with the property itself, but also with any renovation work that’s necessary in the future.
Tax considerations. Now that you’ve decided to acquire investment properties, it is time to get serious about your taxes. Look for specific, personalized advice for your unique circumstance and ensure that you choose an accountant who’s an expert in property tax, since they’ll ensure that your investment is financially stable and profitable.
Choose a good property and community. It doesn’t matter if you follow all the tips above if you missed this one. You need to do a lot of research in the property you’re eyeing as well as the community where it’s located. For instance, consider the houses for sale in Melbourne to see homes that are located in a prime location complete with good facilities and coupled with a great environment. You may even start your first investment there, so check it out.
Summary. Now that you’re equipped with the basic tips on property investment, you’ll have a better chance at succeeding, regardless of your young age. Good luck!
Lenders cannot readily deny your loan application just because you’re single, widowed, or divorced. However, that doesn’t necessarily mean that your relationship status won’t have an effect on your chances to qualify for a mortgage.
In this article, we are going to discuss how your civil status can help or harm your chances to get a mortgage.
Being single is not a hindrance to qualify for a mortgage, as long as your income stream is adequate. However, since you don’t have a spouse, you do not have the option to tap a partner’s income to help you get a bigger loan but that doesn’t leave you out of options. You can have a co-signer, such as a relative, to help you qualify for the financial requirements set. In that case, your co-signer agrees to pay the mortgage on your behalf if you’re unable to make your monthly payments.
You’re in a committed relationship
You do not have to be married to purchase a home together. You should however, thoroughly assess your relationship before adding another joint responsibility together. It’s ideal to have a stable relationship before deciding to apply because if you part ways, it will be harder to split up the joint owned property.
Being married does have its perks when you’re of applying for a mortgage. It promotes flexibility. If a married couple applies for a loan jointly, they can merge their incomes to qualify for larger loans. However, it also has its downside; lenders will first look at both of your credit scores. If you have a good credit score but your spouse has anything lower, the lender will take the lowest middle score between the two of you. This will indicate the final say whether you will qualify and at what the interest rate. Thus, you need to assess both of your finances first.
When you apply for a home loan, lenders cannot actually hold being widowed or divorced against you. They will look at your income and debt to see if you can afford the monthly mortgage payments. The lender will closely look at the amount of money you spend every month on alimony, child support and other regular payments. These payments are factored into your debt-to-income ratio. Ideally, your total monthly debts including the new mortgage payment, must be equal to or less than 43% of your gross income per month.
Whatever your civil status is, you’ll want to evaluate your options to make the best decision for your current situation. If you need help, you can contact mortgage loan professionals, like David Zitting, who can guide you through the process of becoming a homeowner.
Property is a great investment, but what you need to remember is that your property will require regular maintenance if it is to hold its value. Kitchens, bathrooms and other internal fixtures and fittings will all need replacing every ten years or so, depending on the level of wear and tear. These tasks are tedious enough, but do not forget that there are also plenty of external maintenance jobs to be done on a regular basis.
Roofs do not last forever. Nor do windows. External timber should be painted and repaired every three years or so and you are advised to check the fabric of your home, specifically the roof, at least once a year. Working at ground floor level is not too difficult, but there are safety issues to contend with once you need to work at height. You may need safety accessories and specialist equipment, so bear this in mind.
Here are some useful tips for homeowners who have exterior maintenance jobs to do on their property.
Gutters should be cleaned out every fall. Leaves from nearby trees will drift into your gutters and cause a blockage in no time. Blocked gutters lead to standing water, and once the temperature falls, this water will turn into ice. Hanging icicles look pretty, but they can be dangerous. Imagine how painful it would be if an icicle fell from the room and hit you on the head. Do not let this happen to you!
To clean gutters and give the roof a check, all you need is a ladder. However, be careful when positioning a ladder. Make sure the ladder is firmly sited on a secure footing. Do not pitch the ladder too steeply, or it could topple over. It is sensible to ask someone to hold the ladder while you climb up, as this should prevent the ladder moving. Once you are up the ladder, don’t lean sideways, as you will probably fall off.
Roofs need inspecting at least once a year. You can do this safely from ground level if you use a pair of binoculars, but if you do need to climb on to the roof, do not take any silly risks. Always use a roof ladder, as roofs can be slippery. If you are not good at height, don’t even attempt to climb on to the roof. Instead, pay a roofing contractor to carry out any maintenance tasks. It is better to be safe than sorry.
Garden equipment should be serviced once a year. Always empty gasoline powered equipment before storing items away for winter. It is also sensible to remove any gasoline cans to prevent fires.
Home maintenance is time consuming, but you cannot put these jobs off forever. To avoid forgetting anything important, make a list of jobs, and when they need doing. Put them into your electronic calendar and that way you will receive a handy reminder in good time.
With the cold weather of late fall and winter almost here, many of us are looking for ways to keep our homes heated and comfortable throughout the season without using an excessive amount of energy. Obvious ideas like checking and adding insulation, upgrading the heating system, and sealing doors and windows come to mind, but what are some other things you can do to keep your energy bill minimal while keeping the entire household warm and comfy?
Perhaps the best way to save money during the winter is to switch to fire-based heating systems like wood burning stoves or fireplaces. Of course, other than the cost of the wood and transporting it, the heat you get from a fire is pretty much free, and it can stay burning from the morning straight into the night. Furthermore, if you have an axe or a chainsaw and the might to get the job done, you can easily chop your own wood for even more cost savings.
If fire-based heating is not an option in some of the rooms in your home, at least try not to use the older space heaters and wall-mounted heaters that are typically huge energy hogs. Unfortunately, many homes are still equipped with less-than-efficient central heating systems., which not only consume an inordinate amount of electricity, but also contribute to indoor air pollution due to the collection of dust and fibers in the venting systems, which also presents the hassle of having to clean and maintain all of the necessary filters.
Now that you’ve abandoned the heaters that have been jacking up your bill for so long, head to your local hardware store or look online for some of the most energy efficient modern models you can find. You’d be surprised at how much of a difference upgrading your heaters can make when you’re examining your utility bill at the end of the month.
One common mistake made in the winter is to heat the entire house, even though only a few rooms are actually being used. It might create a slight inconvenience because you’ll have to wait for the other rooms to warm up when you do decide to use them, but this is a minor annoyance when you consider how much energy can be saved by leaving those rooms without heating while they’re uninhabited. For example, there’s no reason to have the bathroom and bedroom heaters running when everybody is in the living room.
Most of us underestimate the human body’s ability to generate and retain body heat when equipped with something as simple as a thick blanket or jacket. Insulate yourself with robes, hoodies, blankets, scarfs, hats, and other accessories that will keep you from having to heat the home to 70 degrees just to feel comfortable. Instead, you’ll be able to bring the temperature to only 55-65 degrees and you’ll still feel much warmer than it is outside on most winter days.
In closing, once you’ve started heeding all of the above tips, it’s also a good idea to go ahead and research the cost of heating in your home based on the energy ratings of your heaters and heating system. Depending on your current knowledge and the components used in your heating system, you might need to consult with an energy specialist to get an accurate assessment of how much you’re paying to heat each square foot of your home.
One of the downsides of living in an apartment is that it usually doesn’t come with an abundance of storage space. Especially in the heart of major cities, you could be paying a premium for a pretty small apartment.
Fortunately, there is a silver lining. With some efficient interior design tricks and proper organizing, you can find a way to make room for all or most of your belongings. To help you out in this area, here are a few tips for maximizing your storage space while living in an apartment.
Take Advantage of Vertical Space
While you may not have a lot of square footage to work with, all of the vertical space in an apartment has storage potential. Any empty wall can become a place to hang shelves, and you should take them as high up as possible. From holding towels in the bathroom to displaying your favorite cookbooks in the kitchen, shelves can be incorporated into any room. Nowhere to store your guitar or bike? No problem – you can even hang these on the wall to get them out of the way, and they will even make for some fun décor.
Buy Furniture that Does Double Duty
If a piece of furniture can serve more than one purpose, you should consider it for your apartment. Instead of getting nightstands that look like fancy sculptures, it is more practical to choose pieces that also have drawers, cabinets, or shelves. This will allow you to have a place to put your phone at night and some extra storage for small items. The same goes for your coffee table and ottomans. By selecting pieces that have hidden storage, you can easily tuck away extra linens or personal mementos.
Organize Your Closet
Your closet may seem tiny at first, but you will be amazed at just how much you can fit into the space by installing a closet organizer. This will allow you to take advantage of every nook and cranny. With carefully placed rods, shoe racks, and storage containers, you can fit more into a small closet than you ever imagined.
Are you in need of attaining interstate relocation services from the experts? If it seems a tough job for you to relocate your household goods to a different state as per your need then you can go for hiring the experts. Yes, this is the time to attain professional assistance in meeting your special needs. As you don’t require moving items of your home on a regular basis, therefore, it is easy to assume that you would find yourself as a novice in this job. On the other hand, if you give the charge of the service to a few lay workers then they may spoil the things. Then what is the best option in this course? Obviously, hiring the experts from a renowned destination will be your foremost preference as they can provide you excellent quality and reliable service in meeting your home or office relocation needs. In order to ensure safer relocation of your household items, you can keep faith on the services, offered by the relocation experts.
Advantages of Hiring the Relocation Experts:
Relocating your household items is not a routine job to you; therefore, it’s easy to expect that you wouldn’t have expertise in this course. However, when it is necessary to perform for you, hiring the experts will be your best solution. Now get knowledge about the advantages attainable to you by attaining professional service from the relocation experts.
Onsite Visit: The relocation experts visit your house to plan the process in a systematic way.
Packing: They have expertise in packing the household or business items in a better way.
Loading: Loading the packaged items on the vehicles is another crucial job that they will provide in a sensitive way.
Transporting: Attaining better transportation facility will be possible to you from the leading relocation agencies.
Unpacking: Finally unpacking the stuffs will also be provided by them in a smooth way.
In different ways you can get expertise assistance from the Interstate Removalists and this is the reason, you will never intend to lose any scope to contact them in need of relocating things from one state to another. Finding out the best agencies as well as the experienced professionals in this field will be easier to you by going online. By making online research you will get idea about the best destination to contact.
Convenient Carpet Cleaning Services in Sydney:
If you are in search of the best option to clean carpets in your home or office in a better way, then nothing but hiring the expert Carpet Cleaners Sydney will be your choicest option. It is needless to say that you will grab the finest opportunity in cleaning the carpets in a sophisticated way. Cleaning the carpets is a specialized job that is performed in the finest way by the experts. Therefore, to ensure better cleaning of the carpets when you will hire the experts from the trustworthy sources, you will be capable of attaining cleaned carpets on the floor.