In today's episode, we recap on the First Home Loan Deposit Scheme and the recent Government changes. 

So let's start with the recap. The FHLDS is one of the Government Schemes, to boost the construction industry and Australian economy post-COVID. If you have saved 5% of a properties value, then the Government will step in and act as a guarantor eliminating Lenders Mortgage Insurance. 

There are some key eligibility criteria:
- Income test
- Citizenship test
- Reason test
- Prior ownership test
- Price cap (by postcode)

Remember! There are only a few banks who are able to help you through this process and it's done in conjunction with your loan application. 

So what's changed? Price caps have been increased, so you can look at a greater range of properties and a further 10,000 spots have been release so get in quick!

Thanks again and catch you next time. 

The Property Heroes

—

We release a few different episodes a week

Monday - A short rapid fire educational episode about property/real estate

Wednesday - A longer form, conversational episode talking all thing property and finance.

Friday - A short rapid fire educational episode about finance. 

If you have any questions or any comments, it would be great to hear from you [email protected] or you can reach us through our social.
—

Instagram: https://www.instagram.com/letsbuyproperty/

Facebook group: https://www.facebook.com/groups/letsbuyproperty/

Facebook page: https://www.facebook.com/letsbuypropertyfb/

Website: https://www.letsbuyproperty.com.au/

The most important budget ever, so we break it down and give you some guidance on:

What is the budget?
The two-phased approach the government is taking.
How to relate it to your life? (it’s like running a business)
How does the government get the money to pay for this?

Then we move onto, what are the key areas to think about:

• The government is predicting that we will have a large debt for a long time, so get ready to settle in for low-interest rates.
• What is GPD? Deficit? Bonds? How important are population and unemployment?. More importantly, how unemployment is targeting the youth sector.
• Will tax cuts and all these schemes affect the property market? 

Finally, our take on it all which is:

• It doesn’t matter, this is all high-level stuff. Governments have been tackling issues like this for years, so they are well equipped. 
• The key is to use these times to learn about the impacts, but also zoom into your own life and have a plan. Your plan is yours and should not be influenced by such high-level marco-economic items. 
• Our thought is, assume a flat property market in general, but always know that good property grow well in value over time (better a long time). 

Thanks again and catch you next time.

The Property Heroes

—

We release a few different episodes a week

Monday

- A short rapid-fire educational episode about property/real estate

Wednesday 

- A longer form, conversational episode talking all thing property and finance.

Friday 

- A short rapid-fire educational episode about finance. If you have any questions or any comments, it would be great to hear from you [email protected] or you can reach us through our social.

—

Instagram:

https://www.instagram.com/letsbuyproperty/

Facebook group:

https://www.facebook.com/groups/letsbuyproperty/

Facebook page:

https://www.facebook.com/letsbuypropertyfb/

Website:

https://www.letsbuyproperty.com.au/

Like most buyers, talking to a real agent can feel like a you’re being interrogated by the FBI. But if you’re prepared and organised you might be able to throw them off their game, and get more information than you expected.

What should I do before attending opens?
Do your homework, what else is for sale in the area, try to find comparable's along with sold prices. If you know even one comparable property, the agent will look and treat you completely differently and put you ahead of the game. The agent will know you are a serious buyer and might even put you on their Hot Buyers List.

Where would you find this info?
Sold properties can be found on realestate.com.au, domain etc. or you might need to call the agent if you can’t find it online.
On the most popular platforms realestate.com.au and domain, to get to the sold listings, all you do is hit the SOLD button instead of the BUY button. You still enter all the parameters in like you do for current listings, and it will show you what has been sold in that location. You want to make sure they are recent so have a look at the date, making sure it's no older that 6 months.

Should I ask at the open or on the phone?
If it's a busy Saturday open, it can be hard speaking to the agent at length so unless there is no one around, it might be best waiting for the phone call on Monday or Tuesday from them. Making sure you have time to go into detail is key here as you might get more from them, than expected. For instance, if the agent gets on with you they might tell you the exact reasons for the sale, the best scenario for the seller, which is all GOLD. 
Don't expect call backs on Saturdays as this is game day for agents and they will be super busy running around open's (if only they could fly). 
It also depends on how confident you are, and if you feel you have more power on the phone, on in person. 

We hope you enjoyed this one, we enjoyed creating for you and if it was of value, it would be amazing if you gave us a review and subscribed so you can find out when the next show is available. 

Thanks again and catch you next time. 

The Property Heroes

—

We release a few different episodes a week

Monday - A short rapid fire educational episode about property/real estate

Wednesday - A longer form, conversational episode talking all thing property and finance.

Friday - A short rapid fire educational episode about finance. 

If you have any questions or any comments, it would be great to hear from you [email protected] or you can reach us through our social.
—

Instagram: https://www.instagram.com/letsbuyproperty/

Facebook group: https://www.facebook.com/groups/letsbuyproperty/

Facebook page: https://www.facebook.com/letsbuypropertyfb/

Website: https://www.letsbuyproperty.com.au/

LVR or Loan to value ratio, you might have heard of it, but what does it mean?

On this short and sweet episode of The Property Heroes Podcast, our Finance Hero Shehan takes us through the key points.

How is it the LVR calculated?
The LVR is a percentage referencing the loan amount on a particular property VS it's total value. So if you have a property which is worth $600,000 and a loan for $500,000 to work out the LVR you divid the $500k by $600k which equals and LVR of 83.33%.

Why is it important?
The banks use this as part of their risk assessment, and is one of the main pillars used to establish if it's a debt they want to take on.

Do different property types, get different LVR's? Say a house vs a High Rise.
The simple answer is YES, but there are many factors which change from time to time, depending on the appetite of the banks. 

Does the postcode I'm buying in matter? 
Like the previous answer, YES, it will matter for certain suburbs typically those inner city suburbs which have a lot of new high rise development going on, Melbourne, Sydney, Brisbane CBD's, the Gold Coast etc.

Whats the maximum LVR I can get?
There are a lot of governing factors here, but generally you can get all the way to 95%, meaning you could but a property with a 5% deposit. Things like your occupation could also have a positive impact on the LVR and Lender's Mortgage Insurance or LMI, but we will unpack that in another episode. 

We hope you enjoyed this one, we enjoyed creating for you and if it was of value, it would be amazing if you gave us a review and subscribed so you can find out when the next show is available. 

Thanks again and catch you next time. 

The Property Heroes

—

We release a few different episodes a week

Monday - A short rapid fire educational episode about property/real estate

Wednesday - A longer form, conversational episode talking all thing property and finance.

Friday - A short rapid fire educational episode about finance. 

If you have any questions or any comments, it would be great to hear from you [email protected] or you can reach us through our social.
—

Instagram: https://www.instagram.com/letsbuyproperty/

Facebook group: https://www.facebook.com/groups/letsbuyproperty/

Facebook page: https://www.facebook.com/letsbuypropertyfb/

Website: https://www.letsbuyproperty.com.au/

What a HUGE week it's been in property and finance.

Real Estate reopens, the bank change their forecasts positions from a loss to a gain for Australian House prices, a push from the government / RB to re start the economy with relaxed lending, it's all a bit much and we totally get that it can be hard to decipher.

Luckily, on this weeks episode, the heroes have your back and unpack the current landscape in an easy to understand format.

Here's what we covered and a few links if you wanted to find out a bit more about them.

Planning TOPIC 1 We discuss our view on economists, and how it’s pointless to use them in the media.
https://www.westpac.com.au/news/money-matters/2020/09/house-prices-in-for-15pc-surge/

TOPIC 2 What the agents are saying?

TOPIC 3 RBA rate cut - possibly to 0%
(https://www.smh.com.au/politics/federal/not-quite-less-than-zero-rba-looks-at-lower-rates-and-more-borrowing-20200922-p55y2q.html)

Why and what does this mean?

How does consumer confidence fit into all of this?

TOPIC 4 Responsible Lending
https://ministers.treasury.gov.au/sites/ministers.treasury.gov.au/files/2020-09/Consumer-credit-reforms-fact-sheet.pdf

We hope you enjoyed this one, we enjoyed creating for you and if it was of value, it would be amazing if you gave us a review and subscribed so you can find out when the next show is available. 

Thanks again and catch you next time. 

The Property Heroes

—

We release a few different episodes a week

Monday - A short rapid fire educational episode about property/real estate

Wednesday - A longer form, conversational episode talking all thing property and finance.

Friday - A short rapid fire educational episode about finance. 

If you have any questions or any comments, it would be great to hear from you [email protected] or you can reach us through our social.
—

Instagram: https://www.instagram.com/letsbuyproperty/

Facebook group: https://www.facebook.com/groups/letsbuyproperty/

Facebook page: https://www.facebook.com/letsbuypropertyfb/

Website: https://www.letsbuyproperty.com.au/

The necessary evil of multi-dwelling properties, as they allow you to get into an area you might have not been able to afford otherwise. 

In this short and sweet property episode, we go over, 

• What are they? 
• How do they help?
• What do they do? 
• What to look for when assessing a contract.

We hope you enjoyed this one, we enjoyed creating for you and if it was of value, it would be amazing if you gave us a review and subscribed so you can find out when the next show is available. 

Thanks again and catch you next time. 

The Property Heroes

—

We release a few different episodes a week

Monday - A short rapid fire educational episode about property/real estate

Wednesday - A longer form, conversational episode talking all thing property and finance.

Friday - A short rapid fire educational episode about finance. 

If you have any questions or any comments, it would be great to hear from you [email protected] or you can reach us through our social.
—

Instagram: https://www.instagram.com/letsbuyproperty/

Facebook group: https://www.facebook.com/groups/letsbuyproperty/

Facebook page: https://www.facebook.com/letsbuypropertyfb/

Website: https://www.letsbuyproperty.com.au/

What is negative gearing?

In today's short and sweet finance episode, Shehan runs us through negative gearing, and why it was so popular a fews back. 

Here's what we cover off, 

Why is it seen as a benefit?

What’s the negative?

What are our thoughts on negative gearing?

We hope you enjoyed this one, we enjoyed creating for you and if it was of value, it would be amazing if you gave us a review and subscribed so you can find out when the next show is available. 

Thanks again and catch you next time. 

The Property Heroes

—

We release a few different episodes a week

Monday - A short rapid fire educational episode about property/real estate

Wednesday - A longer form, conversational episode talking all thing property and finance.

Friday - A short rapid fire educational episode about finance. 

If you have any questions or any comments, it would be great to hear from you [email protected] or you can reach us through our social.
—

Instagram: https://www.instagram.com/letsbuyproperty/

Facebook group: https://www.facebook.com/groups/letsbuyproperty/

Facebook page: https://www.facebook.com/letsbuypropertyfb/

Website: https://www.letsbuyproperty.com.au/

To succeed in property, you have to both acknowledge the past but also assess the current state of play.

You have to avoid all the ‘advice’ people who aren’t in the industry or have an agenda, to look at facts and evidence. 

So today, we're going to look at the 4 top myths your parents would have told you and how they may be aiding you making the wrong decision.

Myth 1: You’ve got to have 20% Deposit

Myth 2: Just a property, any property, because being in the market is better than not. 

https://www.domain.com.au/news/how-melbourne-house-prices-of-1997-compare-to-2017

Myth 3:  An investment property must be tax effective

Myth 4: It’s easy to get a house, just save more (avo on toast)

We hope you enjoyed this one, we enjoyed creating for you and if it was of value, it would be amazing if you gave us a review and subscribed so you can find out when the next show is available. 

Thanks again and catch you next time. 

The Property Heroes

—

We release a few different episodes a week

Monday - A short rapid fire educational episode about property/real estate

Wednesday - A longer form, conversational episode talking all thing property and finance.

Friday - A short rapid fire educational episode about finance. 

If you have any questions or any comments, it would be great to hear from you [email protected] or you can reach us through our social.
—

Instagram: https://www.instagram.com/letsbuyproperty/

Facebook group: https://www.facebook.com/groups/letsbuyproperty/

Facebook page: https://www.facebook.com/letsbuypropertyfb/

Website: https://www.letsbuyproperty.com.au/

Apartments New vs Old?

The age old battle of new and old apartments, but which one wins? 

Well from our view, we like to purchase properties with history, something we can touch and feel, and a track record of growth. 

In today’s short and sweet, hear  from James on

What are the main differences? 

Size, Amenities, Owners corp costs ,Density

The way you purchase them might be different as well right?

Buying off the plan vs being able to walk through it. 

What would your preference be?

We hope you enjoyed this one, we enjoyed creating for you and if it was of value, it would be amazing if you gave us a review and subscribed so you can find out when the next show is available. 

Thanks again and catch you next time. 

The Property Heroes

—

We release a few different episodes a week

Monday - A short rapid fire educational episode about property/real estate

Wednesday - A longer form, conversational episode talking all thing property and finance.

Friday - A short rapid fire educational episode about finance. 

If you have any questions or any comments, it would be great to hear from you [email protected] or you can reach us through our social.
—

Instagram: https://www.instagram.com/letsbuyproperty/

Facebook group: https://www.facebook.com/groups/letsbuyproperty/

Facebook page: https://www.facebook.com/letsbuypropertyfb/

Website: https://www.letsbuyproperty.com.au/

Fixed rates vs. variable interest rates? 

What’s better fixed or variable? 

It’s common question and something we get asked all the time. 

So in this short and sweet finance episode we unpack and answer, 

1. What the differences are between fixed and variable?
2. Is a fixed rate locked in forever? 
3. What are the cost of a fixed rate? Upfront, Break fees, are there penalties? 
4. Why are the interest rates different between fixed and variable?
5. What do Shehan suggest choosing?

We hope you enjoyed this one, we enjoyed creating for you and if it was of value, it would be amazing if you gave us a review and subscribed so you can find out when the next show is available. 

Thanks again and catch you next time. 

The Property Heroes

—

We release a few different episodes a week

Monday - A short rapid fire educational episode about property/real estate

Wednesday - A longer form, conversational episode talking all thing property and finance.

Friday - A short rapid fire educational episode about finance. 

If you have any questions or any comments, it would be great to hear from you [email protected] or you can reach us through our social.
—

Instagram: https://www.instagram.com/letsbuyproperty/

Facebook group: https://www.facebook.com/groups/letsbuyproperty/

Facebook page: https://www.facebook.com/letsbuypropertyfb/

Website: https://www.letsbuyproperty.com.au/