What is the best time to rent or buy Real Estate Canberra?  Have you been tossing up will I jump in now and buy something while interest rates are down or will I sit on the fence a bit longer and see what the market is doing? In Australia it offers great opportunities for real estate investing.

There are many people already that have taken advantage of the many golden opportunities available these days to invest and profit in property throughout Australia.

One question always comes up and that is can you still invest in real estate even with little money down?  With a good credit rating, and if you are employed and you have proven to be able to manage finances, then the answer is definitely a yes you can borrow money with little money down.

Firstly, you will need to look at and evaluate your financial situation. Decide whether you will use a some of your own personal funds in the deal, how much is required and whether you will need additional finance for your real estate deal.

Doing your sums with the costs involved in purchasing a property is where people fall down. Check the internet and visit property investing sites that cover the areas you wish to purchase in.

While working out purchasing costs can be normally estimated at five percent of the total purchase price. This figure is calculated to include legal fees, mortgage application fees, stamp duty and other taxes for the property. The amount, however, can vary greatly depending on the state where the property is located and the total value of the property.

Let’s look more closely at some of the upfront costs that you need to be aware of. Deposit and depending on where you buy, some vendors request up to 10 percent deposit of the total loan value upon the signing of the contract.  Keep in mind most things can be negotiated and if you don’t ask  for a reduced deposit down you won’t get so instead of putting down 10% ask to only put down 5%.

As soon as you sign the contract you will need to arrange an insurance cover note for the property until settlement then full insurance will be required.

The are also taxes to factor in and when you purchase a property always involves payment of certain taxes:-

Goods and services tax or GST may be applicable to some property purchases and, in Australia, is pegged at a flat rate of 10 percent.

Stamp duty is a state tax covered in different transactions including the purchase of real estate. This can either be on a fixed rate or on an increasing scale. The total value of the property is considered in calculating the stamp duty.

Land tax may be payable and refers to a state tax that is charged yearly to land owners. It is based on land ownership or land usage in some states. The tax is charged on the total unimproved land value at a specific date. The rates and thresholds may vary from one state to another.

I have found a Consulting a real estate lawyer is your best option when it concerns investment costs.

Canberra Realestate Agents

There are many Realestate agents in Canberra that will give you good customer service for any of your realestate needs, but every now and then an agent comes along that will not give you good customer service she gives excellent service!  It is always good when you are living outside Canberra not knowing an agent and just taking pot luck give a call to:

Jane Kusetic a call 0408 662 119 from LJHooker Manuka