There is no hotter topic over a dinner or barbeque than real estate in Australia. Everyone has an opinion and wants to share it.
And no wonder we all have a love relationship with property. It is one of the tools to build wealth.
People buy their first home, start paying the mortgage and build equity. When the value of the property increases many refinance and buy an investment property. Or two. Or as many as their income can service.
But investing in Australian real estate is not for the faint-hearted. The prices are high and in most cases the monthly rents do not cover the cost of the loan. This means the property is negatively geared.
Why do people invest in property if the rents are lower than the interest they pay to the bank?
Because well chosen property increases its value over time and the profit at sale can be very nice.
But all this concerns people who have been living in this country for all their lifetime or for long enough to be able to understand how the property market works and try their hand at investment.
What about people who relocate to Australia? How can they find a house to live in and what are the steps to rent it?
What and how should they buy? Where to look for homes, how to inspect them, how to make an offer?
Below are some answers to these questions. Click on the headings or images to learn more.
You want to buy a house with a small deposit? You can, but you have to pay for lender's insurance.
While mortgage insurance can help you become a home owner sooner, it comes at a cost. It is expensive, but you can start building your assets.
Like this page?