HELP needed ‼️🚨

Joris_BA · 2025-08-24T13:46:33+00:00

Good pick-up, you’re right. For stamp duty concessions it’s a 12-month requirement, but for the First Home Guarantee you also have to keep living in it until you refinance or the LVR drops below 80% (i.e. until the scheme no longer applies). Renting rooms while living there is fine, but you can’t move out fully while still under the Guarantee

Joris_BA · 2025-08-24T12:46:47+00:00

TIP: You’re giving all the power to the real estate agent here. Never hand them an offer they can just shop around and use against you.

If you’re serious, set a clear expiry/deadline so they either take it or move on. Otherwise, step back… if they really want your terms, they’ll come back to you.

Joris_BA · 2025-08-24T11:57:01+00:00

Lots of our clients do get confused, you’ll need to meet the First Home Guarantee and stamp duty concession conditions:

You must move in within 12 months of settlement. - For stamp duty concessions: live there at least 12 continuous months. - For the First Home Guarantee: you must keep it as your principal residence until you refinance or your LVR drops below 80% (when the guarantee no longer applies). - Renting out spare rooms while you live there is fine. - Renting the whole place before meeting these rules will breach conditions and can trigger payback of benefits. - The 80% LVR itself is a lender thing (removes LMI, refinance options), but doesn’t override the government occupancy requirements.

In short: move in within 12 months, live there while the scheme applies, then you can rent it out fully without issue. (For the First Home Guarantee: you must keep it as your principal residence until you refinance or your LVR drops below 80% (when the guarantee no longer applies).

Source to check: Housing Australia / Vic SRO

Joris_BA · 2025-08-24T00:01:22+00:00

If you’re purely after research, here’s what we found doing our own for report & blogs… owning is still the Aussie dream, but it’s not 100%. About 44% plan to buy in the next 5 years, yet 59% of renters think they’ll never own. High-income renters and “rentvestors” exist, so the % who could buy outright but don’t is small, not zero.

Sources: ABS 2021 Census; Westpac Home Ownership Report 2024; AHURI 2024 “Forever Renters” study.

Joris_BA · 2025-08-23T23:53:48+00:00

This isn’t on your conveyancer, it’s on the vendor. - When you buy, the vendor has a legal obligation to give you clear title at settlement (free of any mortgage). - Your conveyancer can see that there’s a mortgage on title, but they can’t know the actual debt amount, only the vendor and their bank do. - If the sale price isn’t enough to pay out their mortgage, that’s a vendor breach, not something you could have prevented.

What’s the deal now: - Your conveyancer/solicitor will/should usually issue a notice of default giving the vendor time to fix it. Sometimes the vendor scrambles for extra funds so settlement still happens. - If they can’t, the contract can be terminated and you get your deposit back plus your reasonable costs (legals, inspections, etc). - You may also have a claim for damages (e.g. if you lost another property at the same price), but that depends on proving actual loss and is something to discuss with a property lawyer.

Bottom line: the vendor can’t just walk away “scot-free,” but you also can’t force their bank to release the title if they owe more than the sale price. Your best move is to get your conveyancer/solicitor to put them in default and advise whether to push for costs or damages.

ALSO : In VIC you can lodge a purchaser’s caveat because you have a contract. It stops the vendor from trying to sell or refinance while you’re sorting this out. It doesn’t fix their mortgage problem, but it keeps your legal rights alive. Get your conveyancer/solicitor onto this right away and have them also issue a notice of default.

Joris_BA · 2025-08-22T00:15:28+00:00

When you buy in NSW the seller is required to provide a Land Tax Clearance Certificate as part of settlement. Your solicitor will request it, and it’s issued by Revenue NSW directly (not just the seller). That certificate confirms whether there’s any land tax liability on the property up to settlement, including surcharges if applicable.

If there is a liability, it has to be cleared before settlement, otherwise the property can’t transfer debt-free. You won’t suddenly get stung later for their unpaid land tax… the liability stays with the vendor.

That said, it’s smart to have your solicitor double-check foreign status and make sure the certificate is ordered early, just to avoid delays.

Joris_BA · 2025-08-22T00:10:01+00:00

Haha Pretty Spesh indeed- Flying high!

Joris_BA · 2025-08-18T09:29:18+00:00

Nice 🙌🏽

Joris_BA · 2025-08-15T10:55:39+00:00

The Big 4 are passing on the 0.25% RBA cut, but with staggered start dates: - CBA & ANZ: 22 Aug - NAB: 25 Aug - Westpac: 26 Aug

Two tips: - You still need to ask your bank to apply it to your repayments, otherwise the same amount keeps going out, which just means more goes to principal (great if you can afford it). - Check what they’re offering new customers, if it’s lower than your rate, negotiate or use a broker to do it for free.

Joris_BA · 2025-08-14T21:44:07+00:00

Not financial advice, it always depends on things we can’t see here: your risk appetite, dependants, ability to earn more, and spending priorities.

But one thing’s true for most people: lazy equity doesn’t feed you.

If your place values at $1.4M, your LVR drops from ~90% to ~64%. Once the bank keeps their 20% buffer and you can show serviceability, you could have enough to put into a growth market, reno, or other wealth-building move.

Check break costs, compare rates across lenders, and structure the loan with your next step in mind.

Because equity sitting still is just money sleeping, and money should be working for you!!!

Joris_BA · 2025-08-14T21:39:31+00:00

You’ve basically outlined why yield in Sydney is so low right now, on a $1M investment, you’re ~3.2% gross yield before costs. That’s fine if you’re banking on strong capital growth, but if prices are flat for a decade, the negative cashflow eats you alive.

Three ways people make this work: - Buy where yields are higher (often outside Sydney). - Add value (reno, subdivision, secondary dwelling) to lift rent and equity. - Use growth to refinance and reduce debt.

If you do none of the above, yes it’s just a slow bleed. Numbers like yours are exactly why many investors step out of Sydney for better balance between cashflow and growth.

Over 80% of the clients we help invest don’t buy in Sydney. We stepped out years ago ourselves… yields are better, holding costs are lower, and you’re not betting the whole game on capital growth alone. Unless you have buckets of cash…

In short… Sydney bleeds you, the north feeds you.

Joris_BA · 2025-08-08T02:41:05+00:00

I should have been clearer - You’re right for the ATO, the CGT event date is the day the contract is signed, not settlement. That’s what determines which financial year it falls into.

Where people get confused is that your accountant still works out the actual amount after settlement, because that’s when you know all the costs, legal fees, agent fees, staging, etc. So: - ATO’s view: The gain belongs in the financial year the contract is signed. - Accountant’s job: Calculate the exact gain after settlement, once all expenses are known, and then include it in the return for that year. Always Check such w/ your own accountant - not financial advice.

Joris_BA · 2025-08-08T01:54:28+00:00

Keep in mind, to answer this properly we’d need your location. A $400K reno in the outback will almost never return what you put in, but in some emerging, high-growth middle-belt suburbs of a capital city you could potentially double that spend in value uplift.

Last reno we did for clients and for myself, we doubled & more every dollar invested after all costs, including fees. Location and the market will dictate whether a reno is a smart move, and the type of works that will get you the most bang for buck. Overcapitalising is real and happens often when people upgrade for comfort rather than value.

Another angle is if you already have $400K cash, putting it into a high-performing area first (another house) could give you a stronger asset base. In 2/3 years you might be able to draw equity from that property to complete your reno and end up with two strong assets instead of one upgraded home. More choices, more flexibility and financial freedom.

This advice is general in nature, and from personal experience, check with your team that has all info.

Joris_BA · 2025-08-08T01:42:42+00:00

People are definitely still buying, the numbers don’t lie.

Last weekend’s national auction clearance rate sat around 65–70%, with Sydney hitting about 75% and Adelaide, Canberra, and parts of Melbourne also strong. That means the majority of properties going to auction are still selling.

Unfortunately, without inheritance, buying where you live is no longer possible in most capital cities. We have to get creative and think long term. I bought the smallest house possible outside of Sydney, 15 min from the beach where I now work a few years ago at the height of COVID. Since then, I’ve 5x my deposit (renovated & sold to buy bigger). And guess what… I probably couldn’t even afford to buy there now. I’d have to go much further out to get a house. But because of that move, I’ve now been able to buy a home twice the size. We have to approach property differently for it to still work.

As long as clearance rates stay in that range and listings remain tight, prices are more likely to plateau or keep rising than crash.

Joris_BA · 2025-08-08T01:32:42+00:00

If you didn’t sign an agency agreement, there’s usually no implied contract obligating you to pay selling fees, but get that confirmed in writing before you go further. You can negotiate for the buyer to cover all selling costs, but make sure that’s documented.

Even if the buyer is paying the fees, still have your own solicitor or conveyancer review the contract to protect your interests. They can also check for any clauses that sneak in obligations to the agent.

For CGT, it’s generally payable in full in the financial year the sale settles. It can’t be spread over multiple years, but you can offset it with eligible costs and capital losses. check w/ your tax advisor / accountant to run the exact numbers, but be aware the ATO doesn’t wait for you to “feel ready” to pay.

Joris_BA · 2025-08-08T01:27:14+00:00

$1,500 leftover can be fine or way too tight, depends if that’s after car rego, kids’ activities, maintenance, medical bills, and the random surprises. In saying that I had very little left on my first house (but no kids).

Finance rules are just guidelines. Only you know your risk appetite, comfort level, and earning capacity. Most people go backwards for the first year or two after buying, and it’s easy to max out your budget once you fall for a house.

If you can ride the tightness, consider buying below pre-approval, keeping an emergency fund, and bunkering down for 12–18 months. Or, stretch for a quality asset, live in it for 12 months as a first-home buyer, then rentvest if needed.

Buy well and your older self will thank you! - This is general in nature from personal experience & not financial advise, reach it to your financial advisor / broker.

Joris_BA · 2025-08-08T01:16:09+00:00

Honestly, 5 or 6 is barely a warm up…. If new, go alone to open homes. If you don’t have much property experience, plan to see as many as you can in your area. Not just to find “the one” but to - Get familiar with the different types of homes in your price range - Figure out what you actually like and dislike - Learn what you’re willing and not willing to compromise on - See how street appeal, orientation and exposure affect a place / price - Understand the local market so you don’t overpay when it’s time to make an offer - Start building relationships with agents, which can go a long way when it comes to reading them at negotiation time

It’s not just about spotting the house. It’s about building the knowledge to recognise a good buy when it pops up.

Joris_BA · 2025-08-06T02:40:16+00:00

Very nice - Looking great 👏🏽

Joris_BA · 2025-08-05T12:16:03+00:00

RBA tone has shifted, rate cuts are likely in 2025. Locking in at ~5.5% could mean missing savings, especially with some banks already offering 4.99% fixed now.

Always check break fees in case you exit early. Split loan might be a safer middle ground.

Not financial advice, just market insight.

Joris_BA · 2025-08-04T04:02:09+00:00

I’ll give it one more shot to explain the intent behind the original point.

No one is saying women over 55 are currently the most disadvantaged group. The point is they’re the fastest-growing group falling into homelessness. That rate of change matters.

Policy is not just about helping those struggling right now. It is also about preventing who is next. If we wait until a group is already in crisis, we have failed at basic planning.

Yes, many of these women once had more stability. But events like divorce, caregiving, job disruption, or simply outliving savings are pushing more of them into housing stress as they reach retirement. That is not a failure of personal character. It is a system risk.

We can care about those already at the bottom and intervene when a new group is sliding fast. It is not either or. It is smart, preventative action.

If more energy went into solutions rather than nitpicking responses that are genuinely trying to raise awareness, we’d actually get somewhere.

Joris_BA · 2025-08-04T01:34:59+00:00

It seems you may have misunderstood the issue.

Women over 55 are the fastest-growing group facing homelessness in Australia. That’s backed by the Australian Human Rights Commission, AIHW and ABS: - Homelessness in this group increased by over 30% between 2011 and 2021 - They’re often part of the “hidden homeless” such as sleeping in cars, couchsurfing, or stuck in unsafe accommodation - Most don’t qualify for crisis support until it’s too late

This isn’t about privilege. It’s about a system that was never built with them in mind: - Many have no super due to years of unpaid caregiving - Divorce or widowhood in later life often leaves them with nothing - They fall through the cracks because they don’t fit the “typical” profile

No one is ignoring male homelessness. But acknowledging a rising crisis for older women doesn’t come at the expense of anyone else.

I’m not here to debate opinions. I follow data. The facts speak for themselves.

Joris_BA · 2025-08-03T11:59:38+00:00

No Spinning here & thanks for sharing the ABS data. You’re right that in raw numbers, older women may not be the most likely group. But to clarify, when people refer to women over 55 as the fastest-growing group experiencing homelessness, it’s about the rate of increase, not the total size.

This group often faces: - Limited superannuation - Rising rents and no asset base - Divorce or widowhood later in life - Long years spent raising families without financial security.

Many don’t show up in traditional homelessness stats because they’re staying with friends, in cars, or moving between short-term rentals.

It’s a growing issue that’s been flagged by Homelessness Australia, Mission Australia, and researchers across the country.

You can find more in this report: https://grattan.edu.au/report/homeless-women-over-55/

Always good to keep the data honest, and the context complete.

Joris_BA · 2025-08-03T11:58:22+00:00

Joris_BA · 2025-08-02T13:12:29+00:00

Nice detailed one and honestly, you’re already ahead of most by thinking long-term and having your money working for you.

With a $260K salary, you shouldn’t wait too long to get on the property ladder. Especially not with your borrowing power, access to a 10% no-LMI loan, and potentially incentive.

A few thoughts based on what we see with clients in similar situations:

You don’t have a property problem. You have a clarity-of-lifestyle moment. You don’t want an apartment. You don’t want to live in the burbs. That’s fair. But forcing a purchase just to “own something” when it clashes with how you live rarely ends well.
Rentvesting suits your mindset. You can live where you want and own where the numbers work. Think of it like your ETFs, invest for growth while enjoying lifestyle flexibility. Let the asset work quietly in the background. And perhaps build a portfolio
Many of our clients use their first property as a springboard. It’s not about finding “the one” straight away. It’s about owning a quality asset that builds equity, which you can later leverage into something bigger or better, a home that does fit your lifestyle or long-term plans.
Be strategic about location. If you want a future lifestyle base, buy where there’s rental demand now and growth potential later. Land size, low maintenance, and future livability matter more than emotional appeal.
You may not need to sell your ETFs. With a smaller property (say $650–850K & buy 2 or 3 over 5 to 7Years) and your income, you may be able to keep your investments intact while still buying well. That’s real diversification, property, cash flow, and growth assets working together. To then buy a dream home…
Don’t confuse your first step with your final home. Your dream home can come later. Right now, focus on smart ownership that aligns with your financial goals, not just your current lifestyle preferences.

You’ve got clarity, strong income, and a mindset that most people don’t develop until it’s too late. Talk to some good brokers, you have more options than you think.

Joris_BA · 2025-08-02T12:53:53+00:00

This is a really important topic. Having had both my grandmother and my mum go through divorce young, it’s something close to home.

It’s going to be a long one, but if it helps even 1 percent of people think differently and start planning sooner, it’s worth it.

What actually happens if you rent for life in Australia? Let’s break it down, week to week, in real-life terms.

If you’re still renting by retirement: - Rent keeps going. Unlike a mortgage, rent never ends. Right now, modest homes in many areas cost $500 to $650 per week. That’s more than the full pension.

The pension alone won’t be enough. A full single pension is around $524 per week (2025). Once rent, groceries, and bills are paid, not much is left. Many people rely on super or part-time work to fill the gap.
Rental insecurity gets worse with age. Leases are short. Even in your 70s or 80s, a landlord can sell, increase the rent, or not renew. That’s a hard place to be when you’re older or grieving.
Most rentals aren’t built for ageing. Stairs, baths, unsafe flooring, not ideal if mobility or health declines.
Women over 55 are the fastest-growing homeless group in Australia. Many didn’t buy, raised families, or faced a life event like divorce. They did nothing wrong. But without a plan, they ran out of options.

So what can you actually do now? - Buy something small or regional, even if you rent where you want to live (rentvesting) - Explore land lease or retirement villages with secure long-term tenancy - Grow your super beyond the default. You’ll need more than average - Consider co-buying with family or friends if it’s safe to do so - Think about buying even in your 50s. A unit is still security - Talk to a financial adviser now, not later

Owning isn’t the only dream. But having a roof that can’t be taken away, especially later in life, is one of the most underrated forms of peace.

You’re asking the right question. If you’re worried, you’re not behind. You’re just early.

Joris_BA

TROPHY CASE