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Step 1: Do Your Research

If you’re looking to buy a property in an area you’re not familiar with, talk to local real estate agents.
Get their opinions on the market movements and property prices. This will help you determine whether the type of property you want is in your price range.

TIPS- Make a list of your absolute ‘must haves’ in a property.

TIPS- Don’t simply buy a property because it looks great.

TIPS- Consider the things you want in a property such as the number of bedrooms, bathrooms, car spots, off the street parking, backyard, proximity to public transport, shops & schools, traffic noise…

TIPS- By knowing exactly what you want you’ll avoid wasting your time by inspecting properties that don’t offer your absolute ‘must haves’...

Spend some time researching the area and neighborhood you wish to live in and consider inspecting properties in different areas to get a feel on different alternatives. Local real estate agents can also give a brief outline on the market movements and prices in the area you’re considering.

Get a feel for prices of different properties by checking out real estate sections of newspapers and property publications.

Make a list of your absolute ‘must haves’ …

… in a property so that you don’t get carried away and buy a property that simply ‘looks great’ but doesn’t offer the essential features you’re looking for a in a home.

rolled_magazines You can also make a wish list of desired non-essentials you’re looking for in a home. This may just come in handy if you shortlist two or three properties and are undecided about which one to make an offer on.

Consider factors like the possibility of traffic noise and pollution caused by a busy road nearby…

Once you’ve done your research and feel confident about your newly acquired knowledge, it’s time for some number crunching …

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Austral is a member of the Mortgage & Finance Association of Australia (formerly MIAA), the professional body for the mortgage industry.

PH: 02 9299 1833 / FAX: 02 9299 1874

TODAY: Thursday, 20th November, 2008

WEALTH MAXIMISER - INVESTOR ASSIST UPDATE - JUNE 2008
The ATO has recently published an edited version of a Private Ruling on its website: http://www.ato.gov.au/rba/content.asp?doc=/rba/content/81797.htm A taxpayer and client of Austral Mortgage, applied for the private ruling to seek confirmation from the ATO that if there was a shortfall between his investment income and his investment outgoings then that shortfall could be capitalised under the home and investment loan & line of credit structure noted in his application.

WEALTH MAXIMISER UPDATE - MAY 2008
Ever since the High Court decision in Hart's case, taxpayers have been seeking clarity from the ATO on the deductibility of capitalised interest in certain loan structures. On 16th April 2008 a favourable Private Ruling issued to an Austral client that provides insight into the ATO's current thinking on the subject.

My Choice
Austral has recently expanded its product offering through its My Choice loan initiative. My Choice provides borrowers with access to a wide range of lenders and loan products for residential, commercial and equipment finance, so no matter what your need our friendly and experienced staff can assist you.

Austral in the Community
Austral Mortgage has been a Principal Sponsor of the Winston Hills Little Athletics Club since October 2006. We are proud to be supporting this community project and congratulate the young athletes of WHLA for their commitment to and successes in the sport.

WEALTH MAXIMISER UPDATE - FEBRUARY 2008
Wealth Maximiser Update 12th February 2008 - We have advice from the ATO that it is well advanced on a binding Tax Determination regarding the deductibility of capitalised interest on a line of credit facility. Borrowers with both a home loan and an investment loan should consider including a capitalising line of credit within their loan structure or at least ascertaining from their lender that they could access such a facility by way of a simple variation of their existing mortgage.

Trans Tasman Finance
Did you know that Austral has a wholly owned subsidiary, Gem Home Loans Limited, in Auckland NZ - we are able to assist with organising mortgage finance for you should you be considering buying property in NZ.

AusComm Finance
AusComm is the specialist Construction and Development division of Austral Mortgage - if you are a developer seeking finance for construction purposes - residential, commercial, retail, industrial - give Peter McAuley a call on 0419 220 630 or email him peter.mcauley@australmortgage.com to discuss your funding requirements.

Mortgage Calculator
A number of excellent resource tools are now available on the internet for people in Australia seeking a loan to finance the purchase of a property or refinance an existing mortgage. One of the most useful and user friendly tools is a mortgage calculator. Before going too far in the purchase and /or borrowing process it is a worthwhile exercise to quickly gauge your borrowing capacity and also determine how your new mortgage repayments will impact on your personal cash flow. Mortgage calculator...

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