Why you Should Pay for a Pre-Purchase Property Inspection? You’ve got your mortgage pre-approved and you’re about to sign on the dotted line for your dream home, stop and ask yourself: How can I be sure the property I’m buying is in good shape? A pre-purchase inspection is essential for every home purchase – whether it’s your new family home or an investment property. Not only will it help identify potentially serious problems with your proposed purchase, it could save you thousands of dollars in the long run. An inspection can reveal significant building problems or hazards, and help you decide if the property is really what you are looking for after all.
The person who inspects the property – typically a licensed builder – will check the condition of the interior, roof and roof space as well as the under-floor space of the home you intend to purchase – provided they are accessible. They’ll then provide a detailed report, usually in a checklist format, once they have completed their inspection. Some important property inspection exceptions. “No change” say the RBA, as interest rates stay on hold. All the pundits were proved correct as the RBA announced that, once again, interest rates continue to stay on hold at the low cash rate of 2%.
Needless to say, this is also very positive news for all Australian mortgage owners (and those who are looking to enter the property market). The RBA’s decision to keep interest rates on hold reflects an increasingly positive mood for Australia’s prospects. Some believe the recent change in leadership will be highly influential – for example, the most recent ANZ/Roy Morgan weekly confidence index rose a dramatic 8.7% following the appointment of Malcolm Turnbull as prime minister. Elsewhere, the number of businesses with a positive outlook has risen to the highest level since January 2014. In the Australian, economist, Stephen Koukoulas, said firms are benefitting from ongoing low interest rates and what is now a very competitive level for Australia. Low interest rates bringing confidence Like this: Like Loading...
Once again no movement in Interest Rates. It’s the first Tuesday of the month, and that means that the members of the Reserve Bank of Australia have met over lunch to discuss the official interest rates.
Today (and as predicted by the majority of Australian economists) the members have decided to keep rates on hold at a record low of 2%, which continues to be good news for all mortgage holders. The central bank is also expected to increase its efforts to talk-down the local currency in order to further assist with the rebalancing of the real economy. Although proposed changes to negative gearing (once considered the sacred cow of federal government policies) have been floated by both major parties, REIV President Geoff White believes the proposals lack insight, with renters to be hardest hit. “If investors withdrew from the established home market in this vital property belt, it would cause a significant shortage in rental supply and impact heavily on the Government of the day,” White said.
Like this: Like Loading... Interest rates fall to a record low of 1.75% The economist’s predictions were split – and now we know.
It seems as though May is the month for rate cuts, as one year ago was the last time we saw a movement in interest rates. Then it was cut to a record low 2.00% – today, Reserve Bank of Australia has applied a further cut to the official cash rate of 0.25%. It now stands at an historical low of 1.75%pa. While we await tonight’s budget, everyone can rest easy knowing the news is good for mortgage holders, investors or those seeking a new home. If you’re looking to sell, you’ll be pleased to know that Australia’s house prices have moved up in the three months to the end of April with national growth of 2.4%.
If you’re looking to invest, the federal government’s pledge to go ‘hands-off’ on negative gearing will give you a welcomed sign of relief. And if you’re looking to buy, the continuation of low interest rates combined with a plethora of keen sellers, even in the winter months, means that your options are growing. Like this: Payday Loans Milwaukee- Access Funds within Hours for Urgent Money Need.