Buying your first home is one of the most daunting experiences one can engage in. First, a deposit has to be saved to cover at least 5% as well as stamp duty. In Australia, this is a sizable amount of money. The average property price in Sydney is over $800,000 which means the minimum required to buy a first home in Sydney at this price is $40,000 plus approximately $32,000 for stamp duty. That’s a total of $72,000 for the privilege of taking on most likely the largest debt in your life. Don’t get discouraged since most likely the first home won’t be $800,000 but possibly closer to $450,000 to $500,000 (if in Sydney). The 5% deposit drops down to $22,500 plus $16,000 stamp duty making it a total of $38,500. There are also some government incentives if purchasing new construction. The total number drops yet again if it’s new construction where the government will offer $15,000 in concessions. That will pretty much wipe out the stamp duty making it even more affordable at the $23,000 level.
While most of us don't play in the same league as Mr. Buffett. Investors worldwide try to mimmick his strategies in hopes of achieving even a fraction of his success. So, when Buffett hands out free investment tips, the world takes note. Recently in a TV interview, Buffett surprised those whoJun 2011 READ ARTICLE
Property as an asset class dovetails right into an Australian investors psyche as Australians are true believers in brick and mortar. It's not just a belief but it's a trust that over time, property will appreciate. The standard protocol for an Australian property investor is to purchase the properJun 2011 READ ARTICLE
The median U.S. home price has declined 26 percent since a June 2007 peak to $170,500, according to data from Washington-based National Association of Realtors. Photographer: Chris Rank/Bloomberg Vincent Selleck, whose Sydney-based 888 U.S. Real Estate started finding foreclosed U.S. homes a yearDec 2010 READ ARTICLE