As the major parties and the independents continue their talks and Australia stays in political deadlock, there’s a glaring issue that no party has really directly addressed – and that’s housing affordability.
Because although there has been much talk about what they may do with respect to specific contributors to the economy, there hasn’t actually been any specific policy or initiative mooted by either party to address why some Australians simply can’t get into the property market.
And the issue largely comes down to the supply of property and the main issues concerned. Read the rest of this entry »
Posted in Uncategorized | August 31st, 2010 1 Comment » Tags: affordability, Federal Election, government, Home Loans; Budget; Affordability; First Home Buyers; Investment
How times have changed.
Gone are the days when families had takeaway once a week (which usually consisted of fish and chips on Friday night) or when the biggest family night out was heading down to the local Chinese restaurant.
The fact is, it’s a tell-tale sign that things have changed when you can watch a 5 year-old eat sushi with chopsticks better than you can!
In short, there’s been a generational change in how we go about our social lives – and for some borrowers and aspiring home buyers, they simply can’t afford it because some of these social habits are holding them financially captive. Read the rest of this entry »
Posted in Uncategorized | August 27th, 2010 1 Comment » Tags: affordability, Budget, First Home Buyers, Saving, Spending
There’s been quite a bit of talk lately about whether now is a good time to fix your loan, as rates level off and the pundits continue to speculate where things may go from here.
And the answer lies with you. Because if you’re prepared for rates to stabilise or even drop over the next year even after you lock in a higher rate – you’re probably the sort of person (and personality) who is comfortable with taking that risk.
But if you’re living from hand to mouth each month and every rate announcement sends you into a hot sweat – you need to consider whether you would be better with a fixed rate that will give you more certainty around your payments, or indeed whether that hot sweat means you need to drastically revise your whole approach to managing your finances.
So before we put ourselves in one corner or another – let’s have a look at the pros and cons of both types of loans….. Read the rest of this entry »
Posted in Uncategorized | August 24th, 2010 No Comments » Tags: Comparison rate, Fixed Rate, variable rate
I’d like a dollar for every time I’ve heard a politician talk about the issue of debt during the current election campaign.
And while there’s no disputing that debt is certainly a problem in Australia – whether it’s government debt or consumer debt, it still comes down to how to manage your way out of the situation, which is why it’s at the heart of who will win office this Saturday.
So as I’m not a Federal Treasurer or Finance Minister there’s no point putting in my two bobs worth on how to address government debt.
However….what I can do is shed some light on the issue of consumer debt by going through the ten main causes. Because often when you see individual triggers of debt it can become easier to eliminate the cause, rather than trying to manage the symptoms. Read the rest of this entry »
Posted in Uncategorized | August 16th, 2010 1 Comment » Tags: affordability, Budget, Debt, Federal Election, Saving, Spending
When PM Julia Gillard asked the audience in this week’s public forum how many could afford to pay their mortgage if they weren’t working, only a handful of the 200 strong crowd raised their hand….which based on experience, isn’t that surprising.
Because although purchasing a home and taking out a mortgage is often the single biggest financial outlay of a person’s life, not many people stop to consider how they would service a mortgage if they become sick or injured or out of a job.
Read the rest of this entry »
Posted in Uncategorized | August 13th, 2010 No Comments » Tags: Insurance, Lender, Mortgage
Every little bit counts – especially when it comes to saving money on your mortgage when rates are rising.
So now I have your attention, it’s time to look at how changing one standard feature such as the frequency of repayments on your home loan can save you a surprising amount off your mortgage. Read the rest of this entry »
Posted in Uncategorized | August 12th, 2010 No Comments » Tags: Budget, Home Loans, Saving
Pretty soon we’re going to start seeing advertisers including the word ‘Christmas’ in their ads as we ride the financial rollercoaster toward the last quarter of the year.
And for many of us, although Christmas brings with it the thought of a busier social calendar, it’s also traditionally the most expensive period of the year – which more than often results in a financial hangover that ironically occurs at the same time you’re trying to celebrate the promise of a fresh start to a New Year.
So if you’re a borrower who’s really feeling the pinch from rising rates and that scenario all too familiar to you – the very thought of it should be enough to make you read on……. Read the rest of this entry »
Posted in Uncategorized | August 6th, 2010 No Comments » Tags: affordability, Budget, Saving
After speaking to Resi’s John McLean this week about what’s happening in his area of Cleveland it’s great to hear there are a number of investors on the hunt for the right property. Read the rest of this entry »
Posted in Uncategorized | August 2nd, 2010 No Comments » Tags: Home Loans; Budget; Affordability; First Home Buyers; Investment
With all the talk, debate and other shenanigans going on between the two major parties at the moment in an effort to try and win your vote, as always, it will predominantly come down to a case of voters wondering ‘what’s in it for me?’.
And for borrowers, this means they’ll be looking to see if there’s really anything new to report. Read the rest of this entry »
Posted in Uncategorized | July 29th, 2010 No Comments » Tags: Home Loans; Budget; Affordability; First Home Buyers; Investment, Interest Rates, Mortgage, tax cuts
Cold and drizzly weather, two doonas on the bed and regular lashings of comfort food to warm the soul…..
It may sound odd while we’re in the midst of an unseasonably cold winter, but now’s the perfect time to start think about getting your property ready for a Spring Sale – if that’s in your game plan.
Read the rest of this entry »
Posted in Uncategorized | July 26th, 2010 No Comments » Tags: Move House, Property, Renovate, Upgrade
