Buying Advice

Let Paradise Property Sales know your property search criteria of needs, wants, likes and dislikes in a property, and let us help you find the right property for your next home or investment.

Call or email us to get the ball rolling and become a ‘preferred client’ and be the first to receive details of new listings. It’s about working smarter to secure the right property for you before you miss out.

Buying Tips

Here are some useful tips when looking to buy:

*  talk to a mortgage broker/finance consultant to know your price range and obtain pre-finance approval so you know what you can afford

*  take into consideration other expenses such as solicitor’s fees, stamp duty, transfer fees and mortgage costs

*  make a list of ‘must haves’ and ‘wants’ that you are looking for in a property

*  do your own market research using the internet, print media and open homes

*  become familiar with the different methods of sale

*  understand the type of market you are buying in

*  gain an understanding of how to make an offer and the negotiation process

*  find out if the property has any easements or encumbrances

*  put your offer on paper (it will be taken more seriously)

*  make sure the contract reflects all inclusions, exclusions and special conditions

*  there is a 5-day cooling-off period for contracts in QLD (except sale by auction)

*  a pest and building inspection is recommended (and you should be there too)

*  buyers are responsible for taking out insurance on the property as soon as a contract is agreed (ask your insurance company for cover during the contract period)

*  engage a solicitor to look after your contract, searches and settlement

If you are not sure about anything please give us a call and we will be more than happy to help you out. Our advice is free.

 

 

Great Start Grant (formerly known as the First Home Owner Construction Grant)

The 2012–13 Queensland State Budget introduced the First Home Owner Construction Grant (FHOCG) which is administered under the First Home Owner Grant Act 2000. Since its introduction, the name of the Grant has been changed to the Great Start Grant.

The grant is available to first home owners who will be buying or building a new home.

This grant of $15,000 is available for:

* contracts to buy a new home (including off the plan) dated on or after 12 September 2012;

* contracts to build a new home dated on or after 12 September 2012; or

* new homes being built by an owner–builder where the date the foundations start to be laid is on or after 12 September 2012.

A new home is a home that:

* has not been previously occupied as a place of residence;

* has not been previously sold as a place of residence; or

* is a substantially renovated home (in certain circumstances).

The $15,000 grant will not be available:

* if the contract replaces an existing contract made before 12 September 2012;

* for new homes where the contract is dated before 12 September 2012;

* for owner–builders where the date the foundations start to be laid is before 12 September 2012; or

* established homes.

You may still be eligible for a transfer duty concession when buying an established home.

Visit QLD Government - Office of State Revenue - for more information.

 

Transfer Duty & Mortgage Duty Concession

In Queensland, people who buy their first home may also be eligible for a transfer duty and mortgage duty concession to minimize the cost of acquiring a home and to make home ownership more attainable.

 

First home owners may also benefit from an additional transfer duty concession in the form of a reducing rebate. In addition to the first home concession, home concessions exist for the purchase of a home that is not a first home.

 

Click on these links for further information on transfer duty concessions and mortgage duty concessions

 

 

Investors

We understand that you are looking from a different perspective when sourcing suitable property to build your portfolio. We can help you find the right property to suit your personal financial situation and help you to achieve the returns you are looking for. This should be done in consultation with an accountant, financial adviser and solicitor. We would be happy to refer you to professionals in these fields. Our local area knowledge will ensure that you make the right choice for you.