Advice for firsthomebuyers - Page 5 - Perth-WRX.com

BXT · #41 01-05-2007, 09:06 AM

Quote:

Originally Posted by EXPLICIT

Also good to keep in mind, you're better off paying interest vs paying tax. Sit down with a good knowledgeable accountant, look at your options and PLAN PLAN PLAN. You can end up with great collateral BUT you need to PLAN ahead. The market is ripe for the picking DON'T sit on your hands. This sort of positive economy may not come around again for 20+ years so use it NOW. Not earning enough money?, go up north, plenty of money to be made, the sacrifice now for the investment in the future will make it look like a piss in the ocean when you own your own home within 5 years. You NEED cashflow to set up a property portfolio, in the end you only want to pay interest on investments anyway, as long as you can service that, you WILL have a positive effect on assets, which with normal growth patterns, will double your net worth in a matter of years......how long would u have to work to earn 500k? Get a good accountant, don't be scared to work and don't be afraid of taking calculated risk.

Very good points made here lads....the key is building up EQUITY and SERVICABILITY....then the world is your oyster.
Buying land and building is the best way to increase your equity in today's high property market....eg. buy land in a growth suburb @ $200k, build a decent home finished for about $180K (You will have to put in a lot of work yourself here to get it finished...eg painting, landscaping etc...) - Total $380K. Once finished it could be worth as much as $550 and wallah EQUITY. It helps tremendously if you have some sort of deposit for you first home as it will only make the above equation even better.

BXT · #42 01-05-2007, 09:32 AM

What just happened to my last post?????

For some reason my post count has started working again!!! What tha

Sti_Ra · #43 01-05-2007, 11:47 PM

Quote:

Originally Posted by EXPLICIT

Also good to keep in mind, you're better off paying interest vs paying tax. Sit down with a good knowledgeable accountant, look at your options and PLAN PLAN PLAN. You can end up with great collateral BUT you need to PLAN ahead. The market is ripe for the picking DON'T sit on your hands. This sort of positive economy may not come around again for 20+ years so use it NOW. Not earning enough money?, go up north, plenty of money to be made, the sacrifice now for the investment in the future will make it look like a piss in the ocean when you own your own home within 5 years. You NEED cashflow to set up a property portfolio, in the end you only want to pay interest on investments anyway, as long as you can service that, you WILL have a positive effect on assets, which with normal growth patterns, will double your net worth in a matter of years......how long would u have to work to earn 500k? Get a good accountant, don't be scared to work and don't be afraid of taking calculated risk.

Can u recommend best accountant u have had or use? that's the problem i never use or has accountant until now .. cheers

Sti_Ra · #44 01-05-2007, 11:52 PM

No im wondering for investment property is it better house or apartment, because the capital growth on houses does not increase much anymore so im thinking to get cheap apartment and concentrate on rental income, am i right?

And just want to get ideas from all of u, does more tenants choose 1,2,3 or 4 bedroom nowadays?

Köura · #45 02-05-2007, 12:47 AM

Quote:

Originally Posted by Sti_Ra

No im wondering for investment property is it better house or apartment, because the capital growth on houses does not increase much anymore so im thinking to get cheap apartment and concentrate on rental income, am i right?

And just want to get ideas from all of u, does more tenants choose 1,2,3 or 4 bedroom nowadays?

no,

first home owners non-investment (technically speaking) go for apartment cause thats all you can afford.

If you want to invest big time, go for a house not apartment.....if there's a demand for apartements, the boys with the big $$ will just put up more apartments. Real acpital gain comes from 4x2 Houses...in leafy suburbs where you can raise 4 kids.

EXPLICIT · #46 02-05-2007, 10:24 AM

Apartments have a life span, and also include strata costs etc - but can be good for quick return, if u buy right - but as said above they are flooding into the market right now. Soil is a no loose scenario BUT you must educate yourself with the suburbs that will have further growth vs the ones that have already experienced decent growth and values have now plateaued. Best way to educate yourself is immerse yourself in the suburbs of interest, inspect houses/sub divisions and get a feel for the market and the rate of sales in the area. Soil is better than money in the bank.

EXPLICIT · #47 02-05-2007, 10:28 AM

Quote:

Originally Posted by Sti_Ra

Can u recommend best accountant u have had or use? that's the problem i never use or has accountant until now .. cheers

Unfortunately i can't recommend anyone at this stage but with time comes experience in using an accountant. AT least get in with an accountant/financial planner and start somewhere. Be sure to go see a few, just like anything else, u educate yourself with who's willing to help you (meaning taking risks) and those who want to continuously play safe and sit on their hands.

Adr3naL1N · #48 02-05-2007, 11:06 AM

Quote:

Originally Posted by Köura

no,

first home owners non-investment (technically speaking) go for apartment cause thats all you can afford..

So true, thats exactly why im starting off with an apartment...cozi cant afford a house, im hoping that the purchase of an apartment will assist me in getting into the housing market later down the track, im lucky ive got my old man to help me through it all, his an accountant so his knowledge helps a fair bit.

Köura · #49 11-05-2007, 02:17 PM

Woooo hooooo!!!!

This is a big win for first home owners. As it should be.

http://www.thewest.com.au/default.as...ontentID=28348

Who's happy?

ImPreSiV · #50 11-05-2007, 02:33 PM

Yes No Stamp Duty up to $500 000 is a good thing for us first home buyers... pitty im in no position to buy a house!