Any other costs I didn't mention in the video? 📈 Manage your portfolio on Navexa and get 3 months off on your annual subscription: www.navexa.io?fpr=irene
Well, since the NSW Goverment privatised the Land Titles back in 2017 to the superfunds, most people have been buying or have been encouraged to get Land Title Insurance to get full coverage for title against fraud, illegal structures, boundary errors etc. There's only 2 companies in the country that do it, and it's usually about $1k to cover if for the life of the property. Also, on the LMI front. You can get an exemption for up to 10% on it if you're from a certain profession like a lawyer, doctor, and accountant.
I think the comparison should not be a savings account with no real returns, but renting an equivalent property and puttting the cost difference in a diversified portfolio of low cost index funds with real returns of around 6%
@@slightfimulator4888 I have bulk filmed a couple of property related videos: paying off mortgage faster, real cost of buying first home, buying vs renting, prioritize on paying off mortgage vs investing. The past two are coming up soon, my editing team needs to keep up 😅
Great video... Could you please do a video of buying a land and building a property on it as well.. what will be the costs and things to look after? Thanks
5:46 "If you have extra cash to manage your accommodation" which you dont elaborate on, $500/week rent = $26000/yr x 20 years = $520,000 which could also have been invested if they had bought the property or used to pay down the mortgage earlier :)
Have been following you quite a while. Great information. 🎉 However, the rental prices have gone up so people would like to go for their first home instead of renting. Can you do a video on first home buyer grant? Also, can someone sell their only house and still apply for first home buyer grant?
Another video about is currently being edited. In that video, I'll talk about the sunk and opportunity costs. Regarding the First Home Owner Grant FHOG, you generally cannot apply for it if you have previously owned or sold a property, even if it was your only house. Each state and territory administers the FHOG differently, so there may be variations in the rules.
Any other costs I didn't mention in the video? 📈 Manage your portfolio on Navexa and get 3 months off on your annual subscription: www.navexa.io?fpr=irene
land tax should not be payable to PPOR.
Well, since the NSW Goverment privatised the Land Titles back in 2017 to the superfunds, most people have been buying or have been encouraged to get Land Title Insurance to get full coverage for title against fraud, illegal structures, boundary errors etc. There's only 2 companies in the country that do it, and it's usually about $1k to cover if for the life of the property.
Also, on the LMI front. You can get an exemption for up to 10% on it if you're from a certain profession like a lawyer, doctor, and accountant.
I think the comparison should not be a savings account with no real returns, but renting an equivalent property and puttting the cost difference in a diversified portfolio of low cost index funds with real returns of around 6%
Absolutely! The returns would be more significant.
And this ties in nicely with my comment on the previous video about why paying off a mortgage fast is not necessarily the best idea :D
@@slightfimulator4888 I have bulk filmed a couple of property related videos: paying off mortgage faster, real cost of buying first home, buying vs renting, prioritize on paying off mortgage vs investing. The past two are coming up soon, my editing team needs to keep up 😅
Great video... Could you please do a video of buying a land and building a property on it as well.. what will be the costs and things to look after? Thanks
Thanks! I will look into that.
Detailed and concise! Thanks Irene! Can you do a video comparing Redraw vs Offset account in 2024 and which one is better to go for? Thank you
Thank you David! I will look into it.
5:46 "If you have extra cash to manage your accommodation" which you dont elaborate on, $500/week rent = $26000/yr x 20 years = $520,000 which could also have been invested if they had bought the property or used to pay down the mortgage earlier :)
Thanks for your added prospective!
tax is payable for the investment so won't be a million, plus rent would cost money too.
Have been following you quite a while. Great information. 🎉
However, the rental prices have gone up so people would like to go for their first home instead of renting.
Can you do a video on first home buyer grant? Also, can someone sell their only house and still apply for first home buyer grant?
Another video about is currently being edited. In that video, I'll talk about the sunk and opportunity costs. Regarding the First Home Owner Grant FHOG, you generally cannot apply for it if you have previously owned or sold a property, even if it was your only house. Each state and territory administers the FHOG differently, so there may be variations in the rules.