What is a Good Credit Score?

Why don’t we start by asking other questions first….

What is a Credit Score?

The article below, from one of the Mortgage Brokers (20 / 20 Finance)

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who had helped many of our buyers, explains it best….

 

‘The way banks assess you and a loan application have changed in recent years. A credit score is now something they look at as an indicator of your ability to service a loan. By following a few simple tips and getting into good habits, you can improve your score and your chances of securing that loan.

A few years ago, as part of the push for more responsible lending practices, the government brought in new rules for the banks. It’s called comprehensive credit reporting, and it means all lenders need to share more detailed information about you.

Before this, banks kept the information about their customers to themselves and only shared the negative facts about your borrowing history. These were things like unsuccessful credit applications, loan defaults, late payment of loans and bills, and bankruptcy.

Now they also have to share the positive stuff.

If you regularly pay bills on time, always make your loan repayments, keep credit cards at a low level, and generally demonstrate responsible money management, you’ll be rewarded for your good behaviour. The better your behaviour, the better your credit score.’

“Your Behaviour”, refers to your “money management behaviour”

What is a Good Credit Score

Well, if you read the next part of the article, you will find out what is a good credit score and how to improve your credit score.

‘Why is a good credit score important?

The better you look in the eyes of a lender, the less of a risk you are, the

How to improve credit score

A good credit score is important when applying for a Home Loan

more likely it is you’ll get your loan application approved and you may also be able to access better interest rates and terms.

A credit score gives the lender a clearer picture of your financial situation, so they can work out how reliable you’ll be in making your repayments.

The most important thing to remember is that they look at your behaviour over a period of time. This means a couple of missed or late payments won’t impact your score, but regular late payments, or non-payment will.

And, if you don’t have a long history of borrowing (or any history), lenders can look at your regular payments of bills to see if you pay on time and determine your credit worthiness.

What do you do if you have a low credit score?

The key aspect of a credit score is that it’s calculated over a period of time. It’s a relatively accurate indicator of your past behaviour. The good news is that over time you can take steps to improve your money management and be rewarded with a higher credit score.

Here are a few tips on,

How to improve your credit score

Never miss a bill payment.

One of the easiest ways a lender can tell if you’re reliable is to look at your history of paying bills. We all have a lot of recurring services to pay for, like phones, power, water, insurance, credit cards and internet. Each one is an opportunity to improve your score by paying it on time. But miss one and your score can go down. Make the most of setting up direct debits or putting reminders into your phone’s calendar, so you always stay on top of every bill.

Budget accurately.

The key to all good financial management is to budget well. Have a look at all your bills and work out exactly how much you spend every month on these. Then add other living expenses like food, petrol, subscription TV, take-away meals, and so on. Not only will this tell you how much you need to hold on to for all your bills, it can show you where you can cut costs, so finding the funds for your bills is easier.

Close unnecessary credit cards.

Part of a good credit profile is about not having too much debt, and that the debt you do have is being managed and serviced reliably. One obvious thing to do is to cancel any unnecessary credit cards. It’s less credit you have access to, and one more regular payment you no longer have to make. You don’t have to close all of your cards. Having a card with a low balance demonstrates your good financial habits and is an example of your credit history.

Pay off your outstanding debts.

As well as reducing your credit cards, taking care of personal loans is a great way to put yourself in a better financial position. Having less commitments means you’re in a better place to pay your ongoing living costs on time and improve your score.

Don’t make a lot of applications.

It’s a good idea to do your research into getting loans before you apply for them. Many people use online applications to test the waters and see if they get loan approval, but this can be a big mistake. If you get knocked back, it goes on your record. If you get knocked back lots of times in quick succession, even if you’re just shopping around, it looks bad to financial institutions.’

Tammy from 20 / 20 Finance advises to use a good mortgage broker to do the application.

She said: The best way to avoid the pitfall of making a lot of unsuccessful applications is to use a mortgage broker like me.

Not only can you make the most of my experience and expertise to help you research and get a good idea of where you stand in the eyes of lenders, I work closely with you to get the application right the first time by determining which lender will best suit your needs.

This careful groundwork means fewer loan enquiries on your behalf, which is good news for your credit score.’ To get in touch with her, please click HERE

Want to buy a new home or investment property, please complete the form below and one of our friendly team members will get in touch with you.

Brisbane Property Market

Reasons why SEQ Property Market is still Growing

Brisbane Property Market

Affordable Homes

Fixed Price Turn Key Home and Land

Fixed Price Homes from $469,900

Apart from the fact that the Brisbane Property Market is still growing, you can still find very Affordable Homes in Brisbane, with prices starting as low as $369,900! And there a still a few House and Land packages available for either under $400,000, or just above $400,000.

Why would anybody want to buy a home or an Investment Property in South East Queensland? 

Well….

3 Reasons why SEQ Property Market is still Growing

  • Affordability and Stability

Brisbane and the South East Queensland region is a more accessible investment location that has demonstrated superior resilience to the weakness experienced in other parts of the Australian housing market. Historically median house prices in Brisbane have been 75-85% of Sydney. With median house prices in Sydney still over $1m ($0.9m in Melbourne) Brisbane is forecast to outperform as median house prices are currently only 60% of Sydney at $0.6m.

Average House prices on the Gold Coast grew to $655,000 in 2018 and Brisbane’s average house price hit a new high of $675,000 in 2018, up from $505,000 since 2012. Following this trend, affordability is a key reason why SEQ will continue to be a favoured Property Investment destination.

  • Migration

With migration now at highest levels since 2007, the greater Brisbane region could see growth of 30% in next 3 years and close gap difference between Sydney and Brisbane. 

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More broadly, Queensland’s net interstate migration is improving, up from 6,000 people in 2014 to 17,430 in 2016-2017 and recently up to 24,000, between 2017 and 2018. Queensland’s annual population growth is now 83,000, up from 58,000 in 2015. Nearly 90% of Queensland’s population growth occurred in the south-east corner of the state.

Migration shifts from NSW into SEQ and Brisbane corridor is projected to inject 8.1billion dollars into these housing markets. People have been leaving NSW at a faster pace over the past few years favouring interstate migration to Queensland where house prices are half of Sydney.

Queensland has become the number-one destination for internal migration, taking over from Victoria in the latest ABS Census data, and our overseas migration is at its highest level in years, which means demand for accommodation will continue.

  • Value and Opportunity

Queensland is enjoying a steady rate of job growth.

House price growth forecast for 2018-20 shows Brisbane as a standout at 13% growth. This is conservative as the figure includes apartments, old dwellings, units and townhouses. Detached H+L is the most in demand housing type and should see higher growth.

Real Estate Gold Coast

The Brisbane Property Market still shows growth

BIS Oxford Economics suggests that while some property markets around Australia will languish, Brisbane’s housing market is likely to be the best performing property market over the next 3 years jumping 13 per cent to a median of $620,000.

Since 2007, 11 of the 12 Local Government Areas that experienced the strongest house price growth, are in South East Queensland.

SOURCE: QLD Treasury, BIS Oxford, QLD Government Statistician’s Office, CoreLogic, Real Estate Institute of Queensland Market Monitor, Domain house price report.

If you take this information in consideration, it only makes sense that you want to invest in Real Estate Brisbane (Greater Brisbane area)

To find your ideal Investment property or your ideal Home, please complete the form below so that one of our friendly team members can get in touch with you to find out what your requirements are.

 

Why Invest in Real Estate Brisbane?

Real Estate Brisbane

What is so great about South East Queensland?

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Why is it such a good time to invest in South East Queensland at the moment?

Well, take a look at the Brisbane property market performance at the moment.

Brisbane

Brisbane’s stable property market performance is on display once more as we approach the middle of 2019.

And that is only one reason why Real Estate Brisbane is so popular at the moment. That is, we not only refer to Brisbane city, but rather to Greater Brisbane.

Real Estate Brisbane

The demand for Real Estate Brisbane is growing by the day

One of the key indicators well worth watching, is Queensland’s net interstate migration number. Historically when this figure is on the rise, Brisbane house prices get a boost. At the Brisbane Property Market growth peak in 2003, there were over 40,000 extra residents joining the Queensland ranks from other states and territories, (Australian Financial Review)

That figure plummeted post- GFC. The silver lining is that we’re now well and truly tracking on an upward curve after coming off this low base. There is no doubt that many of these buyers are affordability migrants – those now priced out of Sydney’s real estate market who are keen on relocating to QLD and enjoying the lifestyle. Best of all, many are selling up their Harbour City assets and buying here, mortgage free, in Queensland and with a big chunk of change left over. Recent growth increased interstate migration to 17,500 new residents in 2017 and 24,000 in 2018 (Matusik).

Gold Coast

The Gold Coast property market has experienced strong property growth over the past years. According to a new CoreLogic report, the Gold Coast recorded the second highest property value growth across regional Queensland in the last financial year.

Real Estate Gold Coast

Real Estate Gold Coast still in demand

With experts predicting the only way for the Gold Coast property market to go is up, some of the main Gold Coast property market drivers are population growth, increased job opportunities and the low Australian dollar have all contributed to a better performing Gold Coast property market. Major developments on the Gold Coast have been transforming the city into what people are referring to as – Australia’s most beautiful city. With a large number of new construction and infrastructure projects, there’s been a higher number of job opportunities becoming available. This helps drives demand and many are moving in to take advantage of the great Gold Coast lifestyle and new job opportunities.

With higher demand, rental prices have been going up leaving many first home buyers looking for ways to get into the property market by taking advantage of the $15,000 Queensland first home owners grant and record low interest rates. Many home buyers are buying off the plan in new estates and developments. This has helped to increase the demand for more construction jobs and increased property prices.

Brisbane Western Suburbs

Ipswich

The western growth corridor out through Ipswich is attracting its fair share of affordability driven buyers looking for growing infrastructure appeal to help boost their property values.

Ipswich itself has cranked up its cool factor over the past few years, so expect its current popularity to continue.

Brisbane Northern Suburbs

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Similarly, the Northern zones out to Redland remain desirable for those seeking established housing for the longer term.

In the Moreton region, upgrades to transport infrastructure and a rise in the availability of essential services and facilities bode well. In this area, supply isn’t an issue and 2019 will again be a year of growth in these suburbs.

Brisbane Southern Suburbs

Logan areas

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Logan sits at the heart of the Southern Brisbane – Gold Coast corridor,

one of SEQ’s strongest growth regions, delivering strong population, employment and expansive investment opportunities.

The City of Logan is just 30 minutes from the Brisbane CBD and 35 minutes from the Gold Coast. Logan LGA has the second fastest projected annual population growth in South East Queensland from 2016-2036 at 2.3%. Logan LGA population projection for 2016 is 313,785 and projected to grow to 500,881 by 2036.

The City of Logan is uniquely located to access the best that South East Queensland has to offer. This established city’s residential neighbourhoods continue to flourish giving locals a wide range of lifestyle options with older suburbs being revitalised through urban and community renewal projects.

The city looks to the future with strong investment into emerging industries such as transport and logistics, manufacturing, health care and education.

SOURCE: Projected population (medium series), by local government area, Queensland, 2016-2041. URBIS Logan Report 2017

Middle Ring Brisbane Suburbs

Stepping a little further out, the mid-ring of housing from 6 to 20 kilometers from the CBD, this sector is expected to remain positive with similar characteristics of firm demand and limited stock listed for sale. Expect upward gains during the rest of 2019 again.

Outer Brisbane Suburbs

In the outer fringe supply is good so prices have remained relatively stable. In fact, most master-planned community projects have seen good demand for vacant land this year as affordability investors look to build their dream homes or decent yielding investment properties with depreciation benefits.

Interested in any Real Estate Brisbane?

Then please complete the form below so that one of our friendly team members can get in touch with you to find out where you would like to buy a home.

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Brisbane Real Estate is in average more affordable

 

 

Dual Occupancy Homes

Property Investors are increasingly looking at

Dual Occupancy Homes

to achieve a better rental return.

It makes sense, since the property investor can offer affordable homes to the tenants, while benefiting from the dual income that the dual key home offers. In other words, you, as the investor will have two incomes from the same property.

Real Estate Investing

Dual key that gives you a positive cashflow property from day one

Positive Cashflow Property!

All our dual occupancy homes are cleverly designed and efficient homes, which provide for all the needs of the modern multi-generational family as well as separate tenancies.

Private, fully-self-contained and housed under the one roof – an innovative design taking in all the needs of a lifestyle orientated resident.

Our dual occupancy homes offer authentic independent living! And, as you’d expect, both residences in our dual occupancy designs have all the space and functionality where the family can gather to collaborate as well as plenty of areas to call their own for privacy and retreat.

Increase your income, not your costs!

In the past, Duplexes have long been the favoured investment for savvy investors who were chasing a higher return than what a stand-alone houses offer.

However, Duplexes are generally more costly per square meter to build, than a comparable house. This is due to aspects like higher council costs and strata titling, among other things.

Not everyone wants the expense of a duplex to get two incomes from one investment.

Turn Key House and Land

The Dual Key solution just for you

And now you don’t have to!

You will get the same benefit from Dual Key Homes.

Dual Key homes are more cost effective to build than a duplex and get similar rental returns.

In other words….you will have a positive cashflow property from day one, when you buy a dual key!

And this is what every property investor dream of, isn’t it.

The dual occupancy home is almost the same as a duplex. It has the dual income (the same as the duplex) however, instead of two exactly mirrored units, it has a bigger home on the one side and a smaller home on the other side. The smaller side may almost be seen as a granny flat.

It is usually designed to have three to four bedrooms on the one side, and one to two bedrooms on the other side.

The advantage to buy a dual key instead of a duplex….there will be no Body Corporate Fees and only one set of local council rates and charges as councils view the construction to be a normal house.

As an investor, you will have to think of an exit strategy. Although we advise investors to buy and hold an investment property for as long as possible, you never know when you may need to sell your investment property.

Turn Key House and Land

Turn Key House and Land

Your Investment Property

Exit Strategy

Sell to other investors:

The high yield that appeals to you now, will appeal to other property investors as well, when the time comes that you need to sell your Investment Property.

Sell to Owner Occupiers:

First Time Home Buyers may want to get into the property market, however, they want somebody to help pay the mortgage. They may typically move into the smaller home and rent out the bigger home to a family.

The second home buyer: The family may move into the bigger home and rent out the smaller home.

Traditional “granny flat” style:

A family may move into the bigger home, grandma and grandpa move into the smaller home. It happens quite often that grandparents are staying with the family to help look after the kids.

If you want to buy a Positive Cashflow Property, Please complete the form below so that one of our friendly team members will get in touch with you as soon as possible.

Ormeau

With the Government spending Millions in the Northern parts of the Gold Coast. One area which still have great potential for capital growth….

Ormeau

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Why is that? Well, there are still House and land packages available at  below $500,000. That means that you will see how people who are buying a home in Ormeau now, will reap the benefits later when they have built equity in their properties.

 

More information about Ormeau

Ormeau, ideally located between Brisbane and the Gold Coast, is the perfect place for families to call home. Only 36 min from Brisbane and Surfers Paradise, with sufficient public transport to take you where you need to go.

This is where you will find beautiful house and land packages that is only 9min from Ormeau Train Station. That will get you to either Brisbane or to the Gold Coast.

Ormeau

Plan your new life for you and your family in Ormeau

Ormeau already consists of a high level of owner occupiers, so the amount of rentals will be small, leading to demand.

Its central location gives a range of options for commuters to reach employment and commercial opportunities in both cities and the nearby Yatala Enterprise Area by rail and the M1 motorway.

For capital growth, Ormeau sits squarely within the Southeast Queensland growth corridor, one of the fastest growing regions in the state.

The nearby Coomera Town Centre, a 100,000sqm Westfield shopping centre anchored by a 12,000sqm Myer department store, a $56 million aquatic and sports precinct, and a number of new education facilities are all a short drive away.

Schools in Ormeau: Livingston Christian College, Mother Teresa Primary School, Ormeau Woods State School, Lutheran Ormeau Rivers District School, Ormeau State School, Norfolk Village State School.

Ormeau is part of Australia’s sixth largest city, the Gold Coast. Over the next decade it will transform into a globally recognised city while retaining its enviable lifestyle and stunning natural environment. More than $30 billion in major infrastructure and development projects are currently planned or underway.

The Gold Coast’s population of 590,000 people is expected to continue to grow at 3.5 per cent per annum for the next 20 years to reach 1.1 million by 2034.

Houses for sale Ormeau

Enjoy your new life around Ormeau

Numerous projects are currently underway on the Gold Coast, including several residential developments, as well as the $37 million first stage of the Cultural Precinct, the $600 million Stage 3 of the Light Rail, a $2 billion million M1 upgrade, and the $1 billion Coomera Town Centre shopping centre.

The $1.6 billion Stage 1 of Gold Coast Light Rail, linking Griffith University and the Gold Coast Health and Knowledge Precinct to Broadbeach via Southport, commenced service in 2014.

The $420 million Stage 2 connected Southport to the heavy rail at the Helensvale Station. It is expected to unlock $1 billion in development along the route. The $600 million Stage 3, which heads southbound to Burleigh Head, is currently the topic of a feasibility study and is expected to be open in 2021.

The new State School to be built in Pimpama, only 10km from Ormeau!

A $60 million new primary school is set to be built in one of the Gold Coast’s fastest growing suburbs.

According to the Gold Coast Bulletin, 2 May 2019: State planning document have revealed the proposed Pimpama North State School on Yawalpah road will be completed and ready to take its first pupils by 2021.

The official name of the school is yet to be determined but it is expected to open with a population of between 380 and 400 students in its first year.

It is expected that the primary school will grow by about 300 students per year to an ultimate peak of 1200 students.

It is believed that the school will employ 150 – 165 full time equivalent staff.

An internal one-way road will be built to assist in the distribution of traffic and minimise potential delays.

According to the Queensland the Department of Education Coomera and Pimpama are estimated to be home to 63,762 and 25,931 people respectively by 2036.

The department acknowledges there will be pressure on schools in the area as the number of children in the area exceeds the state average.

Real Estate Ormeau

Real Estate Ormeau

With all the developments by the Queensland Government taking place, it only makes sense to find houses for sale Ormeau right now. If you are interested in finding out about the affordable homes in Ormeau, please complete the form below. One of our friendly team members will get in touch with you.

Bahr Scrub

Why would anybody want to buy a home in 

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Bahr Scrub

You may ask….

Well, first of all, with prices from as low as only $403,200, it only makes sense to buy a home in Bahr Scrub.

Bahr Scrub Homes

Bahr Scrub Homes

Basic information on Bahr Scrub

With the Pacific Motorway (M1) 5.4km from Bahr Scrub and the nearby convenience of Beenleigh train station, commuting to work or enjoying a weekend escape is easy.

Grab a cup of coffee and fresh vegetables at the Early Bird and Breakfast Markets, indulge in retail therapy at City Road, Beenleigh and enjoy the convenience of your local Holmview Central Shopping Centre.

The area includes many places to socialise. Catch up with friends over a quiet drink at the Windaroo Tavern or indulge in the famous choc chip waffles at the Belgian Chocolate Saloon.

Long-term Tenants

Take your family to any of the lovely parks in the area

Hammel Park is home to a range of sporting clubs including the Beenleigh Rugby Club and Beenleigh Netball Club. There’s something for everyone, of all ages.

Bahr Scrub has a wide range of educational facilities within a 10km radius of home. For every child, of every age, you’ll find the perfect school for your children.

There are 32 child care centres conveniently located within a 10km radius of the Estate, ensuring your little ones will have access to early learning.

When it’s time for your child to start school, you can choose from Windaroo State Primary School, Beenleigh State School, Eagleby South State School, Eagleby State School and Canterbury College, all within a 10km radius of Brookhaven.

There are four schools within 10km of the estate, Windaroo Valley State High School, Canterbury College, Trinity College and Beenleigh State High School.

Griffith University Logan Campus is conveniently located just 15km from home.

Brookhaven Bahr Scrub

Plan for your future of your family

Surrounded by rolling hills and framed by picturesque brooks, this master-planned community marries connectivity and privacy in a green pocket of tranquility.

The environment provides an idyllic backdrop for a range of community spaces, including viewing platforms, walking trails, mountain biking trails, community gardens and local parks. Here, you can build the life you love with a house design of your choosing, or a carefully designed house and land package.

Surrounded by a diverse range of native flora and fauna including eucalyptus trees and tea trees, here, children and adults alike will be enchanted by the landscape that is so quintessentially Australian.

It’s more than a place where people and their families simply exist. It’s a place to discover the beauty around you at the Conservation Park. A subtropical park, home to kookaburras, koalas and abundant natural wildlife. This is a place that you will find affordable homes as well.

If you think that this area may be the perfect place for you to buy a home, please complete the form below so that one of our friendly team members get in touch with you to find out exactly what you need.

Park Ridge Houses For Sale

Why is it a good idea to specifically look for

Park Ridge Houses For Sale

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Park Ridge is one of the fastest growing regions in the South East of Queensland and is set to be transformed with a network of new roads.

Park Ridge

The Boom Suburb of Park Ridge

According to The Courier Mail 26 April 2019:

‘The roads are planned to cope with more traffic after two sub divisions go ahead in Park Ridge, off Park Ridge Rd.

A new road connection and footpaths will then established between East Beaumont Rd and Park Ridge Road, known locally as Mt Archer Rd.

Logan City Council Roads chairman Phil Pidgeon said once the new road connection is built, road access to East Beaumont Rd will be restricted to a left-in, left-out arrangement.

“But the four lanes will continue south on Chambers Flat Rd,” he said.
“Mt Archer Road will ultimately link north and south from Bumstead Rd to Koplick Rd.
“This road connection will come as part of the eventual development and, unlike in the past when ratepayers funded these sort of roads, council now has the ability to condition developers to fund this construction.”’

Park Ridge Houses for Sale

Park Ridge Houses for Sale from as LOW as $428,910

5 Reasons to buy a home in Park Ridge

  1. Park Ridge is a Master Planned area adopted by the Logan city Council in 2011. An unprecedented $400 million of new infrastructure is currently either under construction, planned or completed, giving a massive boost to the local economy.
  2. The average median price growth is already recorded at 3.6% over ten years and is continuing to climb.
  3. Park Ridge has a rich history dating back to the 1820’s. The area was  predominantly farming land before settlement took place. Park Ridge is still surrounded by beautiful natural landscapes.
  4. A huge investment of $147 million is allocated for first class modern health facilities close by.
  5. $5.5 million is set to increase the connectivity to the local area and surrounds.

We can most certainly help you find your ideal home 

We know that quality homes and quality investments create opportunities for people to live their dream lives.

And we’ve always believed that these opportunities should be available to more than just a select few.

That is why we help people re-imagine their future by dealing only with builders and developers who create quality homes in lively, integrated communities. Everything we do is backed by insight and research, which has driven us to help many people to achieve their dream to own a home or investment properties.

Importantly, we believe the process of purchasing a new home or investment should be transparent.

That’s why we’ve developed an integrated business model, which means we’re involved at every stage in the process – and that means our customers always know what’s going on at every stage of the build process.

If you want to find your ideal home or investment property, please complete the form below and one on our friendly team members will get in touch with you to find out exactly what you are looking for.

 

 

Houses For Sale Redbank Plains

Why is it recommended to look for

Houses For Sale Redbank Plains

Redbank Plains is one of South East Queensland’s fastest growing regions. 

In Redbank Plains, you will find amazing House and Land Packages in a Master Planned Community, only 5 minutes from the popular Springfield, 15 minutes from Ipswich and 30 minutes from the Brisbane CBD.

This is where you will be connected to services as well as connected to nature. Here, you’ll never feel closed in.

The 120 hectare master planned community features 4 large parks, kilometres of hike and bike paths and hectares of beautiful natural bush land setting to explore. Yet all the things that you need like transport, shopping and schools are nearby. It’s a place where you’ll forge long lasting connections – to friends, to family and to memories.

To find out more about the Afforable Homes available in Redbank Plains, Please complete the form below so that one of our team members can get in touch with you.

Affordable Homes

House and Land Packages with Prices as low as from $426,600

And all packages are Fixed Price, Full Turnkey Solutions

Houses For Sale Redbank Plains

Houses For Sale Redbank PlainsFor this amazing price, on a 375m² block, you will find a 4 bedroom home with 2 bathrooms, 2 living areas and double garage. 

Turn Key Home

Turn Key Home

What does Fixed Price, Turnkey solution mean? you may ask….

That means that there will be no surprises along the way.

After signing all the documents, you can sit back and relax.

Everything will be taker care of for you and you will be kept up to date as the building of your house progresses. It is that simple.

Interested in buying a home in the Redbank Plains Area? Then, please complete the form below and one of our team members will get back to you.

To get back to the advantages of living in Redbank Plains

New Redbank Plains Road A Winner For Commuters

Commuters heading out of Redbank Plains will have more time to linger over their morning coffee. Mt Juillerat Drive directly connected onto Centenary Highway, cutting the driving time to Brisbane and shaving about 10 minutes off the journey to Springfield Central’s major shopping centre and train station.

With a number of major transport links close by, there’s no doubt that you will be well connected.

Public transport services are close by, with the nearby Springfield Central Station providing a direct rail service to Brisbane (approx 40 minutes).  

Redbank Plains

Redbank Plains

Redbank Plains School

Whatever style of education your family needs, you will have a huge choice of options.

Eight childcare centres can be found within 5km of home, while local Redbank Plains Primary School and Redbank Plains High are on your doorstep.

A variety of private and state schools are also close by, including Staines Memorial College, West Moreton Anglican College, St Mary’s College, Springfield Anglican College, Ipswich Jnr Grammar, Ipswich Grammar, St Augustine’s College and Fernbrooke State School opened in 2017.

For tertiary students, the University of Southern Queensland is within a 5km drive, and the University of Southern Queensland Ipswich Campus is just 12.5km away. 

Redbank Plains School

Redbank Plains School

House Inspection

House Inspection

Also known as….

Building Inspection

And when should you have it done?

House Inspection

A House Inspection may save you some time and some money

Buying a home is exciting, whether you are a first time home buyer or an experienced home buyer. Once you have purchased a few homes, you basically become an expert on the process, however for first time home buyers it may all seem a little overwhelming.

One of the most important parts of buying a home is the House Inspection before you actually move in. When buying an existing property, a house inspection will ensure that you, as the buyer, know exactly what you are purchasing. A house inspection can also help to get you out of a deal that is not up to scratch.

However, when buying a new home through Buy Real Estate Australia, the house inspection, also called the building inspection, will be done by an independent building inspector. The fee for the building inspection will be included in the Full Turn Key Price. To find out how you can buy a new home using Fixed Price, Full Turn Key option, Please Click HERE.

In this post, we’ll talk about how you can protect yourself with a house inspection, when buying an existing property and what exactly you can do with the information that is provided to you.

House Inspection

A House Inspection should always be done when buying a home

A Building Inspection as a Condition in the offer to purchase

If you are buying an existing home through a real estate agent, chances are that they have already suggested a building inspection prior to finalising the deal. If they haven’t, or if you are purchasing an existing home through a private sale, you should consider including a building inspection as a condition in your offer.

That means that the amount that you and the seller agree upon is based on a positive outcome in regards to the inspection. If there are any issues once the inspection has been done, you should be able to back out of the deal with reasonable ease.

If you don’t include a building inspection, as a condition in your offer, you risk being stuck in a deal that you are uncomfortable with, for a home that may not be worth what you originally thought. That may result in additional costs to you.

Building Inspections and the Selling Price

A building inspection can affect the value of a home, which may in turn affect the original offer to purchase. When you put in a formal offer, and the seller accepts it, there is a chance that you may not end up paying the specified amount if you made the offer dependent on a building inspection.

When the inspection report comes back and issues were mentioned that will cost you money to fix, you can respond with a request that the seller take those amounts off of the selling price.

If the seller does not agree to the lower offer and you no longer feel that the accepted offer price is fair, you can back out of the deal at this point, generally without penalties. That is legal, as long as the building inspection was included as a condition in your offer to purchase.

However, the seller have the right to call in a Building Inspector to verify the results of the inspection report.

Any home that has been pre-owned or that was not built by a professional residential construction company, should be inspected by a professional in order to ensure that it is built according to Australian Building code and that the buyer doesn’t encounter any unpleasant surprises.

What Does a Building Inspection Cover?

A building inspection should take a couple of hours to complete, since the inspector will be looking at so many different things. A building inspector will check things such as:

  • Wiring and outlets
  • Signs of water damage
  • Plumbing
  • Exterior and interior structure
  • Roof damage
  • Other issues that could turn out to be costly if left unnoticed.

It’s important to remember that although a building inspector will take note of as much as they can, they are not obligated to report any damage that they weren’t able to access or see. It is your responsibility to make sure that he has access to all areas that you think may have an issue. If you are buying the home privately, you should arrange access to all areas with the owner. However, if you buy your home through a Real Estate Agent, the agent should arrange that with the owner.

Make sure to be well informed regarding the responsibilities of the building inspector. Ask questions about what they will check for and what they can’t. Have a clear understanding of your own responsibilities, and those of the inspector, prior to having the home inspected so that you are both on the same terms.

Building Inspection

Relax, knowing you had a building inspection done

Finalising the deal

Having a home inspection done can save you a lot of time and even money. Think of it as insurance on your offer, which can protect you from a bad deal or unknown issues that you hadn’t anticipated. Be a smart buyer by doing your research, so that you can enjoy your home once your deal goes through.

After the home inspection has been completed, and the price negotiated (if necessary), it is time for you to go ahead and sign the contract. It is important to keep the building inspection report with all of the other paperwork that involves your new home so that you can refer back to it in the future if necessary.

Make copies of it all and save that in digital format so that you can access it easily. Store the original documents in a safe place.

If you feel at all that you don’t want to go through the stress of buying a pre-owned property, in case there may be some issues 🙂 , Buy Real Estate Australia will be able to assist you in finding your ideal new home. To find your Fixed Price, Full Turn Key Home Package, please complete the form below.

The Difference in Purchase Contracts

The difference between a One Part Contract and a Two Part Contract

When you want to buy a brand new property, that still needs to be built, you will be entering into either a One part contract or a Two part contract. You will know in advance which system is used by the developer.

One Part Contract

The advantage of a One Part Contract – you don’t have to wait for the build to be completed

Two Part Contract

  • Usually used when House and Land Packages are purchased.
  • A buyer will typically first sign a contract with the land developer, then a separate contract with the builder for the build of the house.
  • You will have to settle on the land first, then progress payments are done during the building process of your new home.
  • At certain stages of the building process, the builder will provide you with an invoice which you will need to forward to the lender. The lender will then pay the Progress payments as needed.

One Part Contract

  • Usually used for Townhouse and Apartment purchases.
  • Alternatively, when a builder owns the land and already built a house on it. Some builders do that to help the First Time Home Buyer who want to take advantage of the First Home Owners Grant and don’t want to wait until the building process is complete with a typical house and land package.
  • Buyers sign a single contract with the developer, which covers both the land and building component.
  • The deposit required is paid when the contract is signed and the balance of the purchase price is paid at settlement.
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The Difference in Purchase Contracts

In regards to the Progress payment system for the two part contract, you will be notified in advance at which stages payment will be needed. You don’t have to stress about that. As soon as the builder provides you with an invoice, you forward it to the lender and payment will be done.

For the One Part contract, there will be NO Progress Payment System.

The buyer will need to pay the required deposit when signing the one part contract. This can be funded by either cash from savings or funded by a re-draw from existing equity.

The developer will fund all construction costs to complete the building.

Since there will be only two payments made – at the stage when the one part contract is signed and the balance at settlement stage.

The full mortgage of the buyer will commence charging interest only at settlement stage. Fortunately, the buyer will be able to either rent out the property, in which case, income will be generated to offset the interest repayments.  

Alternatively, the Owner Occupier will be able to move in and enjoy living in the brand hew home.

If you want to find out more about the different packages that we have available, please fill in the form below.

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