Buying your first home is a big undertaking in itself and not knowing the common terms in property is sure to make your journey a lot more difficult than it should be.

In the first episode of this two-part series, we’re going to give you a real estate user’s guide by interpreting a whole bunch of the commonly used terms so that you don’t feel you’re trying to understand a foreign language. 

There’s a whole lot of things to cover so let’s get into it and we’ll see you on the inside!

 

Episode Highlights:

1. What are the types of Real Estate Agents and what do they do? [02:08]
2. Be aware of Property Spruikers [04:50]
3. Conveyancers focus on property matters [07:03] 
4. What is a Lenders Mortgage Insurance (LMI) & who does it benefit? [09:19]
5. ‘Equity’ sounds cool, but what is it exactly? [11:01]
6. Stamp Duty or Transfer Duty [11:54]
7. A look into Land Tax & Unimproved Land [12:53]
8. What are Purchasing Costs? [15:44]
9. Explaining ‘Offset Accounts’ [16:54]
1. Redraws [17:44] 


10. What the hell is ‘Loan Structure’? [18:52]
11. Understanding Leverage [20:55]
12. Defining Capital Growth [21:41]
13. Capital Gains [24:37]
14. What is Capital Gains Tax (or CGT)? [25:26]
15. Looking at Capital Gains Tax Concession [26:57]
16. Negative Gearing [28:13]
17. Depreciation [30:28]

 

Link/s from the show:

• Jargon and Terminology (PDF)

 

Connect With Us:

• Home Buyer Academy Website (https://www.homebuyeracademy.com.au/)

 

If you enjoyed today’s podcast, don’t forget to subscribe, rate, and share the show! There’s more to come, so we hope to have you along with us on this journey!

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