Home buying is a huge decision to make. Once you decide to step into the world of buying and selling properties, you come across a lot of new things. It can be anything from understanding real estate laws to learning about getting your home valued, managing and setting a budget, taking care of finances, hiring a suitable real estate agent and above all, making a final decision with your family.
The process of buying and selling involves a lot of other hidden things which are only known to real estate agents. These are the professionals who breathe real estate and understand every move that takes place in the real estate market.
The final decision to buy a house in Hampton Park will lie completely in your hands. But if such decisions are taken by consulting a specialist i.e., a real estate agent in Hampton Park, half of your burden will be taken away. For instance, you can contact Manny Singh, the best real estate agent serving in the areas of Hampton Park, Narre Warren, Pakenham, and the nearby areas.
Good real estate agents turn into the best real estate agents only when they are able to fulfil all the real estate requirements of their clients. Manny Singh is one of them. Contact your local expert and get your real estate needs fulfilled.
So, if you get a good real estate agent to help you buy a house in Hampton Park or Narre Warren, it means you have got all the reasons to actually turn it into a reality.
But other than having a real estate agent, there are many reasons to make this a reality.
Government First-Home Grant (FHG)
In Australia, eligible first-home buyers can access a generous government grant when buying a home. Such incentives are only available while government funds permit so it is really a good idea to take advantage of these funds. To know more about the grants available in your state, visit www.firsthome.gov.au.
Lower Interest Rates
Quite recently, the Reserve Bank of Australia has dropped the official cash-rate to record the lows. This move has created a competitive financial market. Also, the Australian Banks and lenders are providing some of the lowest interest rates we have seen so far.
Home Prices are Affordable
Even though property prices rise in many areas, there are still affordable new home opportunities available. Smart buyers will research the suburbs and look around for great deals.
If you cannot afford to buy in your preferred location, do not let that stop you. Keep your choice open for other suburbs and locations which allow you to get into the property market sooner.
Value of Property Grows
Real estate is known to grow in value with time. This is the reason it is considered a secure long-term investment option. Unlike cars and other recreational items that mostly decrease in value, property does the opposite.
Once you have built the equity and you reduce your mortgage, you can use it to purchase another house, or sell for a profit, or even upgrade it to a new home.
Other Reasons to Buy a House in Hampton Park
There is no doubt that the housing market in Australia is booming. With time the prices seem to have gone upwards. But the question is that do these conditions signify that it is a good time to buy a house in Australia?
Well, there are a lot of advantages as we have discussed above. Now let us look into the reasons to invest in the housing market.
This is a sort of guarantee for homeowners that they will not lose as much money on an investment. Australia has a tax break which is referred to as negative gearing.
It means that your expenses and interest payments are greater than the returns. This also means that even if the price of houses appreciates every year and if you have a positive cash flow, it may still be losing money.
On the other hand, negative gearing loss includes the computation of a lot of factors such as your property income, expenses, and even depreciation.
You will have to figure out the amount you can deduct for depreciation and for that you can hire an accountant. The expenses include capital items, building allowances, revenue deductions, and more.
In case you see a loss, you can get a tax break on all your income. It works by offsetting the net rental loss against other income.
The result is that for tax purposes, you have less income which means you pay fewer taxes at the end of the financial year.
So, this is how you get a tax advantage and buying rental properties appeals to the investors.
Do you know that real estate market in the U.S. crashed in 2008 while Australia’s managed to stay afloat? Even if other countries such as Spain and Ireland suffered from the bust, the Australian government managed to stop house prices from falling.
One of the biggest and bold decisions they made was to provide a higher amount of grant to the first-time home buyers. The grant was increased from $7,000 to $14,000 and $21,000 respectively.
Many even opposed the massive increase. However, it is one of the biggest factors why prices of houses in Australia floated while in the U.S. home prices declined.
Strong Real Estate Market
The best time to buy a house in Hampton Park is when the real estate market is booming. To know the actual position of the real estate market, contact a real estate agent in Hampton Park. Call Manny Singh, the best real estate agent in Hampton Park.
Nature and Amazing Views
It is a no secret that Australia offers some of the best views in the world. If you also want easy access to such breathtaking scenery, then it would be a wise decision to buy a house in Hampton Park.
Different suburbs offer different views, so you will have to take that into account when choosing to buy a property.
Accessible to Foreigners
Australia has strong policies about foreigners purchasing a house in the country. The Foreign Investment Review Board (FIRB) is the board which regulates investments by foreigners, whether in property or in the business.
Of course, you will have to go in through some hoops to be eligible for this purchase. You will also have to follow some rules too.
For instance, you cannot buy an established home if you are not planning to live in it full-time. However, buying a property if you plan to live there at times, you can buy new ones for investment too.
For both the decisions, you will require FIRB’s approval.
Better Living Standard
When it comes to well-being and standard of living, Australia no doubt performs well. It offers a great standard of living, education, income, environment, health, life satisfaction, and more. Public transport in the major cities of Australia is of a great standard. Buses, trains, trams, taxis, etc. are easily available.
When it comes to weather, Australia has warm climate conditions. So, it is again a big benefit.
There are a number of reasons to stay impressed and make a decision to buy a home in Hampton Park or the nearby suburbs. But one thing that you must keep in mind before buying is to look up to an experienced, licensed real estate agent. To get top-class real estate services, just contact the best real estate agent serving in Hampton Park and nearby areas, Manny Singh.