Online Resources for Brisbane Home Buyers and Property Investors
Planning to buy a property in Brisbane? Whether you are a potential home buyer or investor it is important to prepare yourself thoroughly. There is a huge number of resources available online, however it is difficult to find high quality information from a reputable source. As Brisbane buyers agents, Your Property Hound has identified some great online resources for home buyers and investors.
How much can you borrow? Will you be able to service this debt? The Australian Securities and Investment Commission’s Moneysmart mortgage calculator is a fantastic tool. The Moneysmart website provides useful resources for buyers helping them to calculate their mortgage repayments and borrowing capacity. It also provides useful tips on how to repay a home loan sooner.
To check out the Moneysmart website: click here
Stamp duty (also known as Transfer Duty) is a state government tax that is payable by both homebuyers and investors. Stamp duty is generally one of the largest purchase costs (so therefore important to include in your calculations!). The amount payable depends on purchase price and whether the property will be owner-occupied or tenanted. Concession are also available for first home buyers.
To check out your stamp duty obligations check out the calculators available on the office of state revenue website: click here
Will you be charged land tax on your purchase? Investment property owners in Queensland are required to pay Land Tax if the total value of land owned (not including their principal place of residence) exceeds $600,000.
The amount of land tax payable can be calculated on the office of state revenue website: click here
How much depreciation can I claim on my investment property? Under certain circumstances, property investors can claim tax deductions for the construction costs of the building as well as the costs of any fixtures, fittings and furnishings. The exact amount claimable usually requires an inspection by a quantity surveyor.
The following depreciation calculator should provide a useful estimate: click here
Which Brisbane suburb offers the best opportunities for home buyers and investors? Choosing the right suburb to live or invest in may seem like a daunting task. Once equipped with the right information, you will have the confidence to begin inspecting properties. Property search website realestate.com.au now also provides suburb data as well as sold prices and auction results for most suburbs around Brisbane.
Your Property Hound’s suburb profiles are a good source of information about suburbs in and around Brisbane.
Buying your first home? A First Home Owners’ grants may be available for home buyers who meet certain criteria. Queensland’s firsthomebuyers should refer to the state government website for information about the First Home Owners’ Grant.
We trust that buyers will find these resources useful. If you still require further advice, do not hesitate to contact Your Property Hound to discuss your property requirements further.