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May 2015

What are the Basics of Buying?

Introducing LJ Hooker’s fun way to learn about the buying process.

The road to home ownership can be a lengthy and daunting process if you’re not prepared. By breaking down the home search, the financial preparations, and the purchase into a step-by-step process, the practice can be made much easier. That is why LJ Hooker has developed a fun and easy to understand guide to the buying process with the infographic board game.

By playing the LJ Hooker board game you will gain a good understanding of the buying process from start to finish. But, first, here is a breakdown of the three most basic steps that can’t be forgotten when you want to buy a property.

Get an appraisalTo get a good understanding of the local market, your equity and what your first steps should be, a property appraisal is needed. Your local LJ Hooker real estate agent can help you with this by providing you with a no obligation appraisal of your property.

Financial analysisAnother crucial step is making sure you speak to a lending specialist. These are people with the right experience and qualifications in getting people into their

dream home, and will be able to help you organise your finances and determine a sound plan for securing lending. Once you know your borrowing capacity, you can narrow down your list of properties. The team at LJ Hooker Home Loans are also able to help in this respect.

Research and saveDoing a lot of detailed homework on the areas you’re thinking about buying into is crucial. Are good schools nearby? Is it a safe neighbourhood? Does it have the amenities you like and want? The answers to these questions will all play a role in your final decision. While you’re at it, make sure your savings are in top shape!

So that’s the beginning of the journey: Assembling a dream team of experts, and making sure you step up with the savings and the research. But what comes next? Play the board game in our infographic to find out! It’s fantastic fun that might help you find your ideal property.

Article provided by myLJHooker. For the full article and more tips head to myLJHooker.com.au.

Residential | Commercial | Rural | Home Loans

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Disclaimer. This newsletter does not necessarily reflect the opinion of the publisher. It is intended to provide general news and information only. While every care has been taken to ensure the accuracy of the information it contains, neither the publishers, authors nor their employees, can be held liable for inaccuracies, errors or omission. Copyright is reserved throughout. No part of this publication can be reproduced or reprinted without the express permission of the publisher. All information is current as at publication release and the publishers take no responsibility for any factors that may change thereafter. Readers are advised to contact their financial adviser, broker or accountant before making any investment decisions and should not rely on this newsletter as a substitute for professional advice. © LJ Hooker Limited 0415 LC2588-01

May Shines the Light on the Challenges of Cystic Fibrosis

The National Cystic Fibrosis 65 Roses Campaign is hosted during the month of May to promote awareness of the debilitating condition and raise funds for research.The campaign got its name from a small boy who had a sister with Cystic Fibrosis but he could not pronounce its name – at best, he could say ‘65 Roses’. The name has stuck and is now used nation-wide to help promote awareness of the illness.

CF is the most common, genetically acquired life-shortening, chronic illness affecting young Australians today. It primarily affects the lungs and the digestive system, however, it also affects a number of other organs and systems. Complications increase with age, requiring ever increasing levels of (self) care and support.

On average, one in 25 people carry the CF gene (most of whom are unaware they are carriers).

May is the annual month for 65 Roses, where the community can get together and participate in helping to better the lives of people living with Cystic Fibrosis.

A normal healthy life - what so many Australians take for granted - is an aspiration for those with CF who have to manage their condition with an array of medical treatments.Life with Cystic Fibrosis is no bed of roses. Every dollar raised will help prolong the life of an Australian child.

Enquire at your local LJ Hooker office about opportunities to support 65 Roses month.

Factoring in stamp duty is very important when buying a home

Buying a property? You’ll have a lot of paperwork to get through, no doubt. And you’ll also have to deal with quite a few taxes - including stamp duty, the tax you pay when purchasing new land. Here is what you should know about stamp duty before you move ahead and buy a home.

Stamp Duty is Different for EveryoneThere are many variables that will dictate how much you have to pay on stamp duty. Your location, for starters, is a big factor, as each state government has its own way of working out the tax.

For example, here is a general breakdown of the different stamp duty taxes payable on a

$400,000 property depending on what state you are buying in*.

Stamp Duty payableNSW $13,490.00VIC $16,370.00QLD $5,250.00WA $13,015.00SA $16,330.00TAS $13,997.50ACT $11,650.00NT $16,514.31

Your rate of duty depends on how much the property or land costs, and whether you’re buying a home for the first time and taking out a grant. Even the date of settlement must be entered when you work out stamp duty. You’ll have to do some research to determine exactly how much stamp duty you will need to pay.

There’s Relief At HandTo lessen the impact that stamp duty can cause to your bottom line, there are many grants available for first home buyers in Australia. Like the tax, these all come in at different amounts depending on your state of residence, and whether you are buying an established home or constructing a new one. Generally, grants are bigger for new homes, as part of a push to get home building on the up.* Buyers should conduct their own research before buying to accurately determine how much stamp duty they are required to pay.

Article provided by myLJHooker. For the full article and more tips head to myLJHooker.com.au.

Checklist for First Home Buyers

When budgeting or saving for your first property purchase, be sure to consider all costs associated with buying a property.

• Speak to your accountant about the tax implications of buying a property, particularly if you are going to rent it out.

• Don’t be put off by the additional costs of buying a property – any investment has associated fees. The great advantage of property is its tax effectiveness.

• Speak to your mortgage broker about what concessions and grants might be available to you.

• Now is an excellent time to be buying property with the attractive interest rate environment.