Saving up for a deposit and having the ability to pay off a mortgage may seem difficult, but for those who are looking for cheaper ways to get into the property market, there are alternative pathways you may consider taking to allow you to buy a home sooner without having to invest as much initially.

 

Here are some ideas:

 

Buying as a group – Rather then buying a property on your own, why not share the costs with others? You may have a trustworthy friend or relative is willing to buy a home with you.

 

Buy an investment property first – If you are still living with your parents, or can’t afford the area you want to live in yourself, then why not buy an investment property first and let rental payments help cover the costs of your mortgage? Eventually you may build up enough equity to allow you to buy your own home down the track.

 

Buy cheaper – Another option is to buy an old fixer-upper home or a cheaper home that you can use as a stepping stone to your eventual dream home.

 

Can you think of any more methods to help people get into the property market for less?

 

If you’d like to have a water tank, it can add value to your home, but make sure you’re installing an appropriate size, and have it connected by certified trades people. There’s nothing worse than thinking you’re doing the right thing only to find out that the installation has been done incorrectly!

 

That means you may require building approval from the Tablelands Regional Council if you’re planning on putting in a water tank. It is always a good idea to find out what your obligations are before committing to any works on your home, and before you fork out for a new water tank! You can seek advice from the local council or a BSA licensed building certifier on this.

 

So if you like the idea of having a water tank there are plenty of benefits of installing one, so don’t discount properties without a water tank.

 

Premier Anna Bligh announced the idea in January, stating that finalised plans should be in place by the end of this month.

 

At present, a house contract may include need for a Sustainability Declaration, a Pool Safety Declaration, a Warning Statement, an Information Sheet, Disclosure Statement and then the contract of sale itself, which most will agree is a fair amount of paper work that is costing sellers unnecessary time and money.

 

So hopefully the move will help streamline real estate transactions in Queensland, making a home’s sale a much quicker process.

 

Premier Bligh also announced that the Government was considering phasing out Sustainability Declarations all together, as a lot of the information within them is starting to be covered by building code requirements anyway.

 

The State Government is currently working with the Real Estate Institute Queensland (REIQ) and the Queensland Law Society (QLS) to help come up with the ‘one contract’ of sale. Let’s hope that it helps make real estate transactions easier for buyers and for sellers.

 

It’s not always clear where to go to volunteer though, and often local councils and emergency organisations are inundated with offers of help which can slow down their own efforts to help.

 

So if you want to be an emergency volunteer, the best thing to do is to register early, so that you can be called on if your help is needed.

 

Those interested in becoming emergency volunteers in Queensland can head to www.emergencyvolunteering.com.au, where it is possible to register as a volunteer for emergency situations such as floods.

 

It makes it much easier for local authorities if volunteers have already registered, so that they can be called on when they are needed and directed to the most suitable place to help.

 

Another great way to help in times of emergency though, is to help out the people that you already know. Donations are often appreciated by flood victims, as are offers of assistance. Sometimes just being there for emotional support can be a great help too. 

 

It is amazing to see the generosity and the kindness shown by the local community in times of need, and let’s hope that all of those who have experienced recent flooding are on their way to recovery.

 

Australia’s tobacco industry was closed down in 2006 and it is now illegal to grow tobacco in the country, but it was once a thriving industry on the Tablelands, making up to $50 million a year at its peak.

 

In fact, tobacco used to be one of the main produce grown on the northern Tablelands and it has played a big part in our history. If it wasn’t for the tobacco industry on the Tablelands we may not be the same place we are today.

 

The Mareeba and Dimbulah Bendigo Community Bank Tobacco Display can be found at the Mareeba Heritage Centre and it is free for the public, though donations are welcome.

 

There are plans to add more displays and features to the museum over time, but it is definitely worth heading to if you are in the area and want to learn a little more about one of Atherton Tablelands’ most important industries.

 

Library Lovers Day helps provide a chance for local residents to embrace their love for books and reading. Library Lovers Day events will be held at six library branches – Malanda, Kuranda, Mareeba, Ravenshoe, Dimbulah, and Millaa Millaa.

 

Some of the Library Lovers events will be held this weekend (Millaa Millaa held their Library Lovers Day today), so that those who have Valentines plans don’t need to miss out. If you head to Mareeba Library, Ravenshoe Library or Atherton Library tomorrow there will be morning teas, sausage sizzles and family activities taking place. Check out the Tablelands Regional Council website for more details.

 

On Valentines Day though you can head to the Kuranda or the Malanda Library where they will be holding a morning tea from 10am to 11am.

 

Valentines Day will also see the launch of the National Year of Reading at the Atherton Library from 6pm-7pm. Tablelands Mayor Tom Gilmore will be at the launch where Atherton’s library lovers will be able to enjoy cheese and wine and a discussion of writing and reading by local author Helene Young.

 

This year is all about reading and celebrating our local libraries so don’t forget to make a date with a book at your local Tablelands library.

 

It’s fair enough that family members and friends want to help their loved ones get a step in the real estate door, but you need to remember that when you sign as a guarantor for someone else you could be risking the security of your own assets as well as risking your relationship with the person you’re signing for.

 

It’s important to carefully consider your choice to become a guarantor for someone. Ask yourself if the person you are signing for is trustworthy and if they are responsible enough to continue to make their own payments.

 

In the instance that a payment isn’t made you could get a default against your own name or worse your assets could be sold as collateral to recover the costs of the debt, it’s just the same as if you didn’t make a payment on your own loan.

 

If you are thinking about going guarantor for someone, it’s imperative that you know what you’re getting yourself into, because your own home could end up being on the line. Even changes out of the person’s control may mean that they can no longer make payments – what if they become ill, lose their job or have another financial dilemma?

 

It can be a tough decision and one that you should never feel pressured into. You don’t want to ruin a relationship over financial problems and you don’t want to be liable for somebody else’s debts, so make sure you’re aware of what you’re getting into before signing anything.

 

Each gearing option can be profitable for different reasons, so it is important to understand how each works before deciding which option will be the most suitable for you.

 

Here is a basic explanation of each gearing strategy:

 

Positive Gearing

 

Positive gearing is where the annual rental income from a property is higher than the annual loan repayments and costs. In this situation you are making an extra income from your property; however this income is taxable and hence needs to be declared at tax time.

 

Positive gearing can be very profitable for investors, especially where there are high rental yields, and fans of this type of investment argue that the profits made can then be used to help fund further investment properties.

 

With this type of property keep in mind that you will have to also pay capital gains tax should you decide to sell the property.

 

Negative Gearing

 

If your property is negatively geared then its rental income is less then the costs needed to maintain and keep the property.

 

Negatively geared properties are generally the first step for most investors and they are attractive because of the huge tax benefits.

 

The losses incurred on negatively geared properties can be offset against other forms of income as a tax deduction, therefore reducing taxable income.

 

Another benefit of negative gearing is that there is the potential to make long-term gains through capital appreciation. This is where the value of your property increases larger than the costs.

 

Over time though, many investors choose a negatively geared property with the hopes that it will eventually become neutral or positively geared.

 

Neutral Gearing

 

Neutral gearing is when the income from the property is exactly equal to the borrowing and maintenance costs. In this situation, the income is taxable, but the borrowing costs are tax-deductible.

 

Neutral gearing is a safe option for investors as there are little to no costs to keep the property, however gains can still be made from the capital appreciation. 

 

Remember it is always a good idea to talk to an accountant or a financial advisor regarding the gearing strategy that is most suited to your financial situation. If you are interested in finding an investment property in the area though, then feel free to give me a call at Professionals Atherton Real Estate for further advice or information.

 

Unfortunately if a real estate agent does this then they are not taking into account valuable information that will help get a more accurate asking price for your house.

 

There can be large differences between getting a regular appraisal and an accurate one that has taken some analysis. When a real estate agent is calculating the value that your property is worth, there should be a number of factors that they take into consideration:

 

All of the factors mentioned above will influence a property’s asking price. Different agents may also give a different appraisal depending on their individual ability to sell a home, so you want to make sure that you get a professional real estate agent that can give you the most accurate appraisal possible.

 

Having an accurate asking price for your home is extremely important in marketing your home to the right buyers. If your property’s asking price is too low or too high it will deter potential buyers from inspecting your property.

 

If you would like any more information about how to get the best appraisal for your home or are looking to get your home appraised in the Atherton area, then please get in touch with me.

 

Reading is becoming an increasingly essential part of daily life. To communicate with friends, do business or receive the news, it’s important to be able to read well and yet 46% of Australians struggle with basic literacy skills.

 

Through the National Year of Reading campaign though, Tablelands Libraries hope to be able to enhance the reading skills of our local population, through activities that will be aimed at both younger and older generations.

 

There are 11 libraries in the Tablelands region, so there will be plenty of events for local residents to attend this year, all based around the theme of reading.

 

Each month there will be a slightly different reading theme though, and local residents are encouraged to get in touch with their local library to find out exactly what events are being held and when.

 

If you would like to start reading more this year though, or would like to find some reading inspiration, then head over to www.love2read.org.au and find out what the National Year of Reading is all about.