Recent content by azzae89

  1. azzae89

    Pay PPOR Loan or Just Use Cash for IP1 Deposit?

    LMI isn't so bad is it? I paid it on my PPOR I think it was about $4k? The increase in value over 18 months has been way worth getting in at the time I wanted, which I wouldn't have been able to do without a 95% LVR loan and LMI. So I can still use that $80k then? Another question, if it's...
  2. azzae89

    Pay PPOR Loan or Just Use Cash for IP1 Deposit?

    Does this mean I don't have any equity to access?
  3. azzae89

    Pay PPOR Loan or Just Use Cash for IP1 Deposit?

    Thanks for all the help guys you are awesome! Looks like I will call my broker at ANZ and negotiate a better rate for the $400K. I'm still a bit hazy on how equity is actually accessed on my PPOR. Let's say I got the green light on $80K in usable equity. How does this work? Would it be...
  4. azzae89

    Pay PPOR Loan or Just Use Cash for IP1 Deposit?

    Hi, I bought a PPOR back in 2013 and have my mortgage with ANZ. I currently owe $400K on it and my interest rate is approx 5.2% ($100K variable and $300K fixed). I had a re-val done in December 2014 and it came back at $500K, meaning I have $100K equity ($80K usable). Anyway, I have...
  5. azzae89

    Contract Revisions

    This may sound really naive but I have no idea when it comes to legal stuff. Today my conveyancer has reviewed a draft contract of sale and says there's some minor adjustments to be made. These are: Arranging 5% deposit instead of 10% Front page needs inclusions marked A clause to be...
  6. azzae89

    Strata - Electricity & Water

    Thanks, I'm in NSW so assume that would apply to me. Does the same go for electricity usage too? Cheers!
  7. azzae89

    Strata - Electricity & Water

    Ok thanks.. Is this something that would be detailed in the contract of sale for a strata title apartment?
  8. azzae89

    Strata - Electricity & Water

    This may seem like a really naive question, but does strata cover your water and electricity costs? I read somewhere that electricity and water is split by the number of units and everyone contributes equally, despite how much they've consumed..
  9. azzae89

    Sutherland Shire

    Hi Ren, Thanks for taking the time to respond. I'm born and raised in the bangor/menai area (24 years old) so know the Shire really well. I think cronulla and caringbah are overpriced, yet places in sutherland still have some value to be had. How did you feel about living in Sutherland...
  10. azzae89

    When Was/Is the Right Time to Buy in Sydney?

    I hadn't bought yet as I'm a FHB and was still saving for finance. If I had it my way I would've bought 12 months ago when grants were still in place for existing dwellings and no stamps for FHB's. Now, when I've finally finished saving, got finance sorted and I'm ready to go, grants are gone...
  11. azzae89

    When Was/Is the Right Time to Buy in Sydney?

    I'm thinking CBD. This is the one I'm looking at: http://www.thevantage.com.au/ I'm a FHB so could get a 2 bedder near the station + avoid stamp duty = $330K total. Thoughts?
  12. azzae89

    Buying OTP & Loan Repayments?

    Quick question for you finance gurus: If I borrow money to buy off the plan, do I have to start paying off the loan even before the property construction is completed? i.e. If I buy OTP now, yet it's not due to be finished until December, will I have been paying off my loan from now...
  13. azzae89

    When Was/Is the Right Time to Buy in Sydney?

    I'm glad you guys have mentioned Wollongong. I've been seriously considering buying an OTP 2 bed unit there. Any thoughts on unit vs. house in the gong as an investment?
  14. azzae89

    When Was/Is the Right Time to Buy in Sydney?

    Now that property is heating up in Sydney, would now be a good time to buy? Or are we too close to peaking in the cycle that it would be a bad time?
  15. azzae89

    First Home Buyers: Thoughts on New Homes Grant?

    For any first home buyers in NSW, what are your thoughts on the New Homes grant? I feel that anything new around greater metro Sydney comes with a stupid price tag, so by the time I get 15K and save on Stamp i'm left with a mortgage i can't afford. I'm pre-approved for $420K, and want to...
Back
Top