Blog 4 Flats

Do I need to do that?

Even if you’ve been coping well to date, the Reserve Bank’s nasty trend of lifting interest rates should indicate it’s time to stop, think and review your borrowings. How would you cope with another rate rise? Another two? A bigger hike next time? Nothing is out of the question as the central bank tries to dampen inflation.

No one likes to think the worst will happen but prudent financial managers ask themselves what would happen if it did and put strategies in place to protect themselves.

When it comes to your home loan, this means building a buffer by getting ahead in your repayments. You can do that by paying more than you need to each month, increasing the frequency of your repayments, sticking in any irregular cash payments you might get (such as that end-of-year bonus or next year’s tax cuts), using a facility such as an offset account where your pay is deposited and reduces the interest on your loan while it’s there, or even refinancing to a loan with a lower interest rate, but maintaining your current repayments for the flats.

Take my advice guys…Keep renting!

Cheers

Such a young guy i have a bunch of goals in my life, its obvious. But I hate the stablished statments in this society corrupted and perverted. Mortgages for the entire life? Whats that? Its suposed to be a human right, a bloody roof to live in, I cannot understand the world´s situation already.

My goal is a flat, a small one, I dont want those flats full of furnish crap or a couple of dogs waiting for me in the garden, no mates, I just want a roof, and I want to pay for, I dont want presents.

Obviously I have another goal, Find the girl of my dreams…

Cheers mates!

Risks associated with property transactions in India could reduce with at least three insurers submitting details of the property title insurance products (flats, apartments, houses…) they wish to launch to insurance regulator Insurance Regulatory Development Authority, or Irda.

People familiar with the submissions said ICICI Lombard General Insurance Co. Ltd, National Insurance Co. Ltd, or NIC, and HDFC Standard Life Insurance Co. had filed details of their products with Irda as any company wishing to launch an insurance product here is required to. Executives at ICICI Lombard and Standard Life Insurance could NIC confirmed the submissions. Executives at HDFC not are reached for comment.

The spokespersons for two other insurers, Iffco Tokio General Insurance and Oriental Insurance Co. Ltd, said these two firms are also working on title insurance products.

Take care mates and keep it going!

Cheers!

Interest rates rises will make some markets tip over, but others are likely to firm. If in a suburb such as Caroline Springs, around 8% of the real estate is owned by investors and more than 90% is owner occupied. Of the owner occupiers almost 70% are still paying a mortgage. This means most people in those areas feel a direct impact from an interest rate rise.

Compare this with a suburb like Prahran. In Prahran only 17% of people living there are paying off a mortgage. Investors won’t feel the full force of an interest rate rise because as interest rates rise there is more pressure applied to rental demand and rents are forced up. In addition, up to 45% of any interest rate rise can be offset by negative gearing.

In the space of six months, just about everything anyone thought they knew about the home loan market has changed. Mortgage rates no longer track the official rate set by the central bank; borrowers must jump through hoops rather than fend off overzealous lenders; instead of racing to beat rising house prices, prudent buyers must factor in the possibility of stagnant or even falling values.

Previous assumptions about where the best home loan deals lie need to be examined, then re-examined. Many borrowers spurned non-bank lenders last year, for instance, only to be socked by higher rates from the big banks this year.

T the result is that people are confused and suffering from inertia when it comes to their home loans.

“A lot of people have lost confidence in all lenders. They’re not sure what they should do,” Montgomery says.

So, let’s look at some of the big questions facing borrowers in this changed landscape.

Take care my friends…

When Tony Taylor and his wife, Penny, decided on a complete tree change, they saw their perfect home in Leura in the Blue Mountains. They’d been looking around for a while, so agreed to snap it up while it was available.

They’re faced with selling their home in North Sydney in a distinctly sluggish market. “But it’s a pretty saleable house in a pretty popular area, so we didn’t attach any problem to selling it,” says Tony, a semi-retired IT professional.

“And if we’d been selling even two to three months ago, we would have been all right. But we’re not despondent. We’d prefer to sell but if we don’t get what we regard as a fair price, we’ll rent it out for 18 months and see what the market does.”

The couple has lived in the 1880s Victorian house, at the end of a cul-de-sac on Oak Street, for the past 14 years and it has been completely renovated and refurbished.

With four bedrooms, two bathrooms and a courtyard including convict-laid pavers and a pergola, it goes up for auction today by McGrath Estate Agents (0420 989 179), with the hope that it’ll sell for more than $1.3 million.

“A place near us sold for 70 per cent over its original expectation a few months ago,” Tony says. “But the market isn’t that hot any more. We bought before we sold because the Leura house will be ideal for us.

“We’ll see how we go.” No worries

Kitchen: After not having a place in which to cook for such a long time, it’s no wonder the couple love their kitchen. Eventually we’ll open this area up and provide more of a meals area and family space.

Door frames: These terrific-looking frames are a feature. They’re a lovely counter to the floorboards, trimmed in gloss white paint and their unusual but authentic look adds to the home’s period resonance.

I need Sandra Bullock as well!!!

Cheerio guys, take care!

What should I say about the environment? My environment? My own place, the crap is over me, the crap is over us, We´re living a tremendous lie, Governors are lying us about anything, specially about the properties and flats they are speculating and allied with the builders, the situation in Europe is especially untenable, people in countries like Spain are selling their houses in raffles…

Cheerio guys and think a bit the words I´ve said.

Flatiron

Environmental considerations play a huge part in Sydney’s newest mixed-use development, The Village, at Balgowlah. This $345 million project - developed by Stockland and designed by Allen Jack+Cottier - will include a Coles supermarket, 60 specialty shops, 246 flats, 25 townhouses, restaurants and cafes with outdoor dining, plus gardens and a resort-style pool.

Water will be collected from the rooftop, filtered and stored in an underground 500,000-litre tank, to be used for residential toilets, washing machines and landscape irrigation.

Another clever innovation is the way that waste heat generated by the retail centre’s air-conditioning system will be captured and used to heat the residents’ swimming pool. Some will also be used as a pre-heat system for the hot water services in the apartments.