real estatereal lifestyle estate The number of first home buyers taking out home loans is surging.
FIRST HOME BUYERS ON THE RISE BUDDING home owners are out in force, with the number first-home buyers taking out loans surging to a six-year high. The proportion of first-time buyers in the home loan market has risen to 18.3 per cent. According to CommSec chief economics Craig James, first home buyers are celebrating the greater choice of properties on the market, more attractive prices and super-low interest rates. But getting into the property market is a huge financial commitment that can costs new home buyers more than they might expect. One-in-five people under 35 save less than 10 per cent of their after-tax income, and 17 per cent save nothing at all, research from financial comparison website Canstar found. Canstar group executive, financial services, Steve Mickenbecker, said the
first step towards reaching a homeownership goal was committing to a savings plan to reach a 20 per cent deposit plus additional purchase costs. "First-time buyers should also be aware of the mistakes easily made that could impact their ability to buy, (their) loan application, or cost them more in the long run," he said. Here are seven tips to help first home buyers avoid financial mistakes that could cost them: 1. Know your budget Use a home-loan borrowing calculator or speak with a lender to find out what the banks may be willing to lend. 2. Save a 20 per cent deposit While not all lenders require a 20 per cent deposit, falling short of this can be costly, with buyers required to pay Lenders Mortgage Insurance, sometimes in the range of $15,000.
If you cannot save a 20 per cent deposit, the First Home Owner Grant or having someone to go guarantor may help you avoid LMI. Or consider holding off until you can save more. 3. Understand interest rates Interest rates fluctuate and as rates rise so will the monthly repayments. Read up on what influences interests rates so you're not blindsided when rates increase. 4. Factor in fees Remember to factor in annual fees on a home loan. Some loans, such as package loans, can have annual fees of around $395 that are added to the overall cost of the loan. 5. Keep some savings As well as the purchase price, you may need to for pay stamp duty and a range of other fees, then there are moving costs and furnishing. Do your research before you buy to understand the associated
NOOSA’S WEEKLY REAL ESTATE GUIDE
costs and set your buying budget to include them, and plan to have money left over for any unexpected expenses or repairs. 6. Look for grants The First Home Owners Grant is designed to encourage and assist home ownership, and for eligible buyers it can contribute to a great start to life as a property owner. Check out the requirements and details at https://bit. ly/2Nk81Og 7. Negotiate Don't just rely on what lenders present. Take a pro-active approach and negotiate on interest rates to avoid paying too much. Research home loans offered by a number of lenders to ensure you're in a position to make an informed choice. ●
Thursday, 7 February, 2019
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INSIDE � OPEN HOMES
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OPEN HOMES
real estate
com.au
Time
Address
A
B
C
Price Guide
Castaways Beach
Agent Time Address Saturday 9th February 9.00am - 9.30am
Saturday 9th February
B
C
Price Guide
10 S Pacific,179 Weyba Rd 2
2
2
offers over $499,000
Garwoods Estate Agents - 0408 710 373 Garwoods Estate Agents - 0408 710 373
A
10.00am - 10.30am
10/512 David Low Way
4
3
2
$2,895,000
Tom Offermann Real Estate - 0468 922 519 10.00am - 10.00am
7/213 Gympie Terrace
2
2
1
offers over $620,000
12.00pm - 12.30pm
7 Antipodes Close
5
3
2
EOI
Tom Offermann Real Estate - 0437 447 804 10.00am - 10.30am
18/152 Noosa Parade
2
2
1
$595,000
Coolum Beach Saturday 9th February 10.00am - 10.30am
23 Perry Street
3
2
2
Contact Agent
Tom Offermann Real Estate - 0499 483 049
Wednesday 13th February 10.00am - 10.30am
23 Perry Street
3
2
2
Contact Agent
Tom Offermann Real Estate - 0499 483 049
11.00am - 11.30am
1/17 William Street
3
3
2
$1,687,000
Tom Offermann Real Estate - 0411 652 325
1/19 Laburnum Crescent 3
2
1
Auction
Tom Offermann Real Estate - 0407 708 860
12.00pm - 12.30pm
7/76 Hilton Terrace
2
2
1
Contact Agent
Tom Offermann Real Estate - 0433 237 422
12.00pm - 12.30pm
24/67 Gibson Road
3
2
1
$1,095,000
Tom Offermann Real Estate - 0411 652 325
4
4
2
$2,495,000
Tom Offermann Real Estate - 0411 652 325
4
4
2
Contact Agent
Tom Offermann Real Estate - 0419 757 770
Noosa Waters Saturday 9th February
Saturday 9th February
1.00pm - 1.30pm
323 Sunrise Road
7
5
8
Auction
14 Masthead Quay
Garwoods Estate Agents - 0411 862 954 Sunday 10th February 11.00am - 11.30am
Noosa Heads
155 Shorehaven Drive
Peregian Beach
Saturday 9th February 9.00am - 9.30am
19/2 Serenity Close
2
2
1
$695,000
10.00am - 10.30am
11 Cooran Court
4
3
2
Contact Agent
11.00am - 11.30am
16 Wild Apple Court
4
3
3
$1,490,000
11.00am - 11.30am
5/1 Peza Court
2
1
1
Auction
11.00am - 11.30am
4/10 Serenity Close
3
2
2
$1,785,000
Tom Offermann Real Estate - 0418 980 247
11.00am - 11.30am
6 Smoke Bush Drive
3
2
2
$1,050,000
Tom Offermann Real Estate - 0423 972 034 Saturday 9th February
12.00pm - 12.30pm
20 Sanctuary Avenue
4
3
3
$1,595,000
Tom Offermann Real Estate - 0423 972 034 10.00am - 10.30am
12.00pm - 12.30pm
17/8 Serenity Close
3
3
2
$1,950,000
12.00pm - 12.30pm
2/8 Serenity Close
3
3
2
$1,685,000
Tom Offermann Real Estate - 0411 652 325 Saturday 9th February Tom Offermann Real Estate - 0423 972 034 11.30am - 12.30pm
19 Mimosa Street
3
3
2
$1,159,000
Tom Offermann Real Estate - 0413 319 879
Garwoods Estate Agents - 0408 710 373 1.30pm - 2.00pm Tom Offermann Real Estate - 0437 447 804
11 Newport Street
4
2
2
$675,000
Tom Offermann Real Estate - 0423 972 034
21 Resolute Street
4
3
2
$1,295,000
Tom Offermann Real Estate - 0414 367 282
Tom Offermann Real Estate - 0407 708 860 11.00am - 11.30am
9 Kiamba Court
5
4
4
Price Guide $4.5M
Tom Offermann Real Estate - 0414 367 282
Tom Offermann Real Estate - 0418 980 247 11.00am - 11.45am
6 Ridgeway Street
4
3
2
$2,250,000
Tom Offermann Real Estate - 0413 582 670
4 Woodlark Rise
3
3
2
$1,250,000
Tom Offermann Real Estate - 0413 582 670
Sunday 10th February
Sunrise Beach
2.00pm - 2.45pm
12.00pm - 12.30pm
3 Natasha Avenue
4
4
4
EOI
Tom Offermann Real Estate - 0419 757 770
1.00pm - 1.30pm
5/1 Peza Court
2
1
1
Auction
Tom Offermann Real Estate - 0437 447 804
5
3
2
$2,575,000
Tom Offermann Real Estate - 0419 757 770
3
2
1
$1,900,000
Tom Offermann Real Estate - 0414 367 282
Auction Diary
Monday 11th February 12.00pm - 12.30pm
18 Witta Circle
Wednesday 13th February 11.00am - 11.30am
29/2 Noosa Drive
Doonan Saturday 9th February 1.00pm - 1.30pm
Noosa Springs 146/61 Noosa Springs Dr 3
2
2
Auction
Tom Offermann Real Estate - 0499 483 049
7
5
8
Auction
Garwoods Estate Agents - 0411 862 954
2
1
1
Auction
Tom Offermann Real Estate - 0437 447 804
146/61 Noosa Springs Dr 3
2
2
Auction
Tom Offermann Real Estate - 0499 483 049
2
1
Auction
Tom Offermann Real Estate - 0407 708 860
Sunday 10th February 1.00pm - 1.30pm
Wednesday 13th February 11.30am - 12.00pm
323 Sunrise Road
Noosa Heads
Saturday 9th February 11.30am - 12.00pm
Tom Offermann Real Estate - 0411 652 325
11.00am - 11.30am
Doonan 12.00pm - 1.00pm
Agent
146/61 Noosa Springs Dr 3
2
2
Auction
5/1 Peza Court
Tom Offermann Real Estate - 0499 483 049 Saturday 2nd March 12.00pm - 12.30pm
Noosaville
Noosaville
Friday 8th February 10.00am - 10.30am
7/213 Gympie Terrace
2
2
1
offers over $620,000
1.00pm - 1.30pm
3/164 Noosa Parade
2
1
1
$375,000
Garwoods Estate Agents - 0408 710 373 Saturday 23rd February Tom Offermann Real Estate - 0411 652 325 11.00am - 11.30am
1/19 Laburnum Crescent 3
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Thursday, 7 February, 2019
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noosatoday.com.au
Your Property Management Specialists
STATE TO REFORM RENTAL LAWS QUEENSLAND’S tenancy laws are set for a shake up this year. The state government is expected to finalise its on-going review of the Residential Tenancies and Rooming Accommodation Act in the first half of the year. Late in 2018 about 130,000 tenants, rental property owners and property managers were consulted though the Open Doors to Renting Reform initiative, on a raft of topics from keeping pets, to property condition, flexibility and security and application processes. The last full-scale review and changes to tenancy regulations date back to the 1970s. Many Queenslanders see investing in rental properties as a way of securing their financial future, and 32 per cent of households no finding their homes in the rental market. When launching the review, Premier Annastacia Palaszczuk said it was “well and truly time” for another review, saying all Queenslanders deserved a safe, secure and sustainable home. “My Government wants Queensland to have contemporary residential tenancy laws that protect tenants and property owners alike and improve stability in the rental market,” Ms Palaszczuk said. Tenancy associations have welcomed
RENTALS IN FOCUS · Queensland has one of the highest proportions of people renting in Australia, with more than 500,000 households renting · 34 per cent of Queensland households find their homes in the rental market · 43 per cent of tenants have been renting for more than 10 years · Property mangers keep up to date with current legislations, and can have a wealth of knowledge and expertise independent landlords may not have an understanding of · With extensive local knowledge and a pool of potential tenants, property managers can make finding tenants and dealing with maintenance issues easy.
the review, saying with more people renting long-term, laws need to change to allow renters to make a property their home.
But Real Estate Institute of Queensland chief executive officer Antonia Mercorella has expressed concern about a potential power
imbalance between landlords and tenants. “The legislation must serve both parties equally, rather than give all the rights to one party and disadvantage the other,” Ms Mercorella said. “Distorted laws serve no one and will only create dysfunction in the rental sector. “ ... if we lose investors we may face a rental accommodation shortage.” ●
RIPE PROPERTY NOOSA
PROPERTY MANAGEMENT TEAM We must be doing something right!!
Established 2008
When even tenants recommend us to their landlords because we are firm but fair it says something.
Ripe prides itself in providing low risk management to our clients, you can rest assured that we will find the right tenant for your property as that is the start of the process along with a well-maintained property.
Over 80% of our managements come from referrals - our attention to detail is paying off.
OFFER FOR NEW CLIENTS We also recommend Terri Scheer landlords insurance and as an incentive to try our services we would like to offer new clients 12 months free insurance. Make the switch to a company that has a proven track record and our outstanding risk management procedure certificate says it all! Call Karen Seskis 0404088091 Email karen@ripeproperty.com.au Visit us 3/25 Sunshine Beach Road Noosa Heads
“Simply the best! David and Theodora are wonderful to deal with - very professional and certainly go that extra mile managing our rental property. We couldn’t be happier and highly recommend them both.” C Trinder
If you want your Property
“Thanks you so much for the wonderful job you always do in managing our rental at Noosaville. We’ve had excellent tenants, thanks to your scrutiny of applicants. We’d never use another agent now that we have found you. Five stars to you!!” R & R Taylor
contact us today
Manager featured here, on 5455 6946
“Relationships not transactions”
Next publication date 4 April
PROPERTY OF THE WEEK? Zero Vacancies We would like to manage your property 12411017-SN07-19
Maintaining a property is vital, we offer a selection of tradespeople who are dedicated to providing us with quality well priced services, many are investors as well so they know what to look for and report back to us.
David Garwood: 0411 862 954 • Theodora Garwood: 0408 710 373
email: sales@noosatoday.com.au web: noosatoday.com.au 12411195-DJ07-19
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David Garwood Theodora Garwood