Saving for a deposit can seem like an uphill battle at times, particularly for your first home when you cannot call on existing equity to lend a hand. Below are some helpful hints to get you on your way, and keep you motivated!

Setting a goal

Determining how much you need to save is the first big step and will help keep you focused and on track. Chatting to a broker will assist with this step – they can establish, based on your income and existing debts etc, your borrowing capacity. Then, if you can aim to save a minimum of 5% of the purchase price (your deposit) + costs. Some associated costs include:

Government fees and charges (stamp duty, transfer fees etc)Loan establishment feesSolicitor feesBuilding and pest inspection costsLenders mortgage insurance(LMI)

e.g if you are looking to buy a property worth $400,000 a 5% deposit = $20,000

Keep in mind if you have less than 20% deposit you will incur (LMI)

Clearing debts

Paying off credit cards and personal loans first will ensure you’re not wasting money paying high interest charges and fees. These liabilities really reduce your overall borrowing power too.

Budget

It may seem obvious but setting a budget is paramount in ensuring a successful savings journey. However, you can’t just set and forget. Make sure you audit your bank statements and see where your money is going and how well you’re sticking to the budget. Analyse your spending behavior by combing through bank statements, and this way you can alter it as your needs change too. Being too inflexible will just result in stress.

Separate bank account

Once your budget is established, set up an automatic transfer to a separate account, preferably a high earing savings account that is not easily accessed. Choose a different bank to your current transaction account. This way it may take a few business days for any money to come out of the account. So if you need money in a hurry, you cannot look to that growing home deposit!

Every bit counts

It’s all well and good to preach a thrifty lifestyle but sometimes you just need to treat yourself…One of my favourite apps is an automatic savings tool called Acorns. It has many different functions but “round ups” is a great place to start. Once installed it will round up the change from your daily purchases and save them for you. For example if you buy a coffee for $4.50 it will round that purchase up to $5, taking 50c towards your savings. And it really does add up quickly. So go ahead and enjoy that smashed avo guilt free!

We have an array of guides and information packs for you to download including a budget, a cost calculator and how to prepare for pre approval.

We wish you luck saving for your home deposit!

Legal fees, Mortgage Insurance, First Home Owners Grant… it can sometimes get really confusing when buying your first home. So, we thought you might appreciate it delivered to you in plain and simple terms. No jargon, just the short sharp facts. If you can get your head around these Top 5 Tips then we promise you’ll be on track to buying your first home in no time. Thankfully, Brisbane based lending experts The Finance Firm, have come to the party to help you.

The Top 5 things you must know when buying your first home.

1.Mortgage Insurance – How Much Deposit Will I Need In Order To Dodge Having Pay Mortgage Insurance?

Generally, banks will require a minimum of 20% deposit, so you are borrowing 80% of the property’s value. If you have less than a 20% deposit, then you would need to borrow more than 80% and that’s when Lenders Mortgage Insurance (LMI) comes into play. LMI is insurance for the bank, should you default on your loan, it does not cover or safeguard you, the purchaser.

If you do have to pay LMI it is generally a few thousand dollars depending on your scenario. It does mean though that if you only have save a 5% deposit, you can still purchase a property but you’d just have to factor in paying the LMI as well. Sometimes this can be added onto the loan. It sounds like a hefty additional expense, but if it allows you to break into the market now, as opposed to waiting a year when house prices may have increased ultimately, you may have actually saved money. It can be a great “foot in the door” option when utilised correctly.

We’ve loosely crunched the numbers for you to help explain how Lenders Mortgage Insurance is calculated :

Buyer #1 has saved $115,000 and is purchasing a property valued at $500,000. Because $115,000 is 23% of the purchase price, Buyer #1 wouldn’t have to pay any LMI and would need to borrow approximately $385,000.

Buyer #2 has saved $37,500 and is purchasing a property also valued at $500,000. Because $37,500 is 7.5% of the purchase price, Buyer #2 would have to pay LMI and would need to borrow approximately $460,000.

2. Hidden costs – What Other Costs Could Possibly Be Associated With Buying Property That I May Not Be Aware Of?

Additional costs associated with purchasing real estate are often overlooked and can add up. These include registration fee, land fee, building and pest inspection, legal fees and loan establishment costs. This varies lender to lender but generally there will be an initial fee and your annual fee charged at settlement. Sometimes introductory loan products may waive these fees but it is wise to estimate about an additional $5,000 in outlays.

3. Real Estate Buyers vs Sellers Agent Commissions – What Am I Expected To Foot The Bill For?

Sometimes Buyers’ Agents may charge an upfront fee, and then a percentage of commission of the sale price. Most first home buyers do not engage Buyers’ Agents but if your budget allows for it it can be a smart decision. By strategically analysing suburbs and properties, Buyers’ Agents ensure solid asset acquisition. So, if you’re looking for strong capital growth, in the grand scheme of things the money invested in a Buyers’ Agent now can be money very well spent in the long run. In Queensland, a Real Estate Agent working for the Seller typically charges the Vendor 2-3.5% commission on the sale price of the property upon settlement.

4. Grants When Buying Your First Home – What grants are currently available to me in Queensland?

The First Home Owners’ Grant (FHOG) has been boosted until June 2017.

The government initiative may provide you with $20,000 towards buying or building your home as long as you meet the following conditions:

Your property is newly constructed and never been lived in, off the plan or in the process of being built

Your property is valued at less than $750,000

You’re an Australian citizen or permanent resident

You are 18 years or older

You have never owned a property before

The other Queensland Government concession for first home buyers is the reduction of stamp duty costs. If you’re buying your first home for less than $550,000 then stamp duty is reduced to zero. For anyone else stamp duty charged would be $12,171 and for an investor you’re looking at just shy of $20,000, so that’s a massive saving.

If your first home is valued more than $550,000 you are still entitled to a reduction in stamp duty.

To find out how much stamp duty you could potentially be up for, use this great Stamp Duty Calculator.

5. Parents As Guarantors – How Does It Work and How Can My Parents Help?

If your parents are willing to help you break into the market, there are a few different ways to structure a guarantor loan. By utilising equity in their home they can provide security over the entire loan or just a portion. Depending on the situation, we would propose to limit the guarantee to say 20% (where possible), covering the deposit so the buyer doesn’t have to engage LMI and the parents’ house is not at risk should their children default on the loan. There are many factors with family guarantee home loans though so it’s best to discuss your options with a professional. And keep in mind your parents must be willing to undergo the same application process as you, and the broker has to conduct a separate interview with them, too.

Rules & regulations can change at anytime so ensure you consult a Financial Specialist for their advise before making any big decisions. If you’d like further information on the ins & outs of buying your first home, check out The Finance Firm’s informative blog. Before long you’ll be all settled into your beautiful new home. We hope you’ve found these Top 5 Things you must know when buying your first home helpful.

When applying for a loan your broker, and the bank will require a fair amount of documentation. This is to verify your financial position and we are bound by a lot of compliance and regulations. Therefore, if your documents are organised, this process will be painless for you!

Use tax time to consolidate and organise your files if purchasing a home is on the horizon!

Documents to source and file together:

Last 2 years tax returns and 3 most recent payslipsIf self employed, business tax returns/trust returns, etcAnd corresponding notice of assessment’sCopy of rates (if home owner) or lease agreement (if renting)Bank statements showing current savings3 months worth of statements for your everyday transaction accountList of assets e.g copies of home ownership, vehicle ownership etcList of liabilities e.g copies of credit card statements, car loans, amounts owing etcCopy of superannuation statement

You will also be required to fill out a budget, confirming your monthly expenditure. So getting an idea of your outgoings will also help with this activity. Feel free to download our budget here.

It’s also a good idea to bring any questions to your first meeting with your broker.

Mortgage brokers now account for more than 50% of all loans written in Australia. That is, people are continually identifying the benefits of utilising a broker as opposed to walking into a bank.

You’ll get a strategic loan structure, and a more thorough insight into your monthly repayments but our ultimate goal is to provide our clients with an improved standard of living! You get more choice, more control, and over time, more freedom.

There is a ripple effect in the work that we do. Let’s be honest, a big bank isn’t going to spend as much time (hardly any, in fact) as a broker can understanding your circumstances and objectives. We appreciate your goals, help make these a reality, whilst also striving to exceed your expectations.

We want your money to work for you, we want you to enjoy financial freedom, and we want to help you to eventually secure that investment property, too.

It may seem convenient to walk into a bank one day, but please remember the above attitude is one harboured by mortgage brokers who do not have to meet sales targets or spruik a new product.

To make sure you’re dealing with a seasoned pro who has your best interests at heart, here is a comprehensive list of questions to help you qualify your potential new mortgage broker: 1. How much experience do you have as a mortgage broker? It’s helpful to know they’ve dealt with varying scenarios, and better yet if they have experienced it first hand, as the buyer. Basically, can your broker structure a loan they’d confidently take on themselves? 2. Why should I use a mortgage broker rather than going straight to the bank? 3. Are you members of the Mortgage Finance Association of Australia (MFAA) or Finance Brokers Association of Australia (FBAA)? Ensuring they are held accountable by industry bodies and employ best practise standards. 4. Do you have your own Credit License or are you a Credit Representative? 5. How do you decide which loan is best suited to my personal situation? Linking back to their experience, your broker should be able to analyse different situations to ensure you get bang for your buck – making your money work for you. e.g a product with 100% offset benefits can be great if you have a solid savings pattern. I would recommend this for a customer who wants to say, save for a holiday, and always has emergency funds in their account. They’d be best placed with multiple offset accounts. However, if you would rather throw everything at your home loan to reduce it as soon as possible, and never have savings as you pay more into your home loan frequently, you may be better off with a basic loan product as features such as offset accounts do come with additional fees. 6. Do you charge a brokerage fee for getting my finance approved? Some brokers do charge for their services, others are paid solely by the bank. They should make this very clear from the outset. 7. What commissions do you get paid for writing my loan? Each bank pays different commissions but you’re looking here for volume based bonuses. Some brokers get paid more by certain banks because they write more loans for that bank. Make sure you’re getting placed with the best product for you, not the broker. 8. Do you offer a range of different lenders? 9. How much of a deposit do I really need to obtain a loan? 10. What impact will my credit card limits have on my borrowing capacity? Credit cards can really put a dent in your borrowing capacity. Your broker could help you with a course of action to reduce any debts. 11. What fees will I incur when taking out a home loan? 12. What is a comparison rate? 13. What features are included in my new loan? Linking back to question 5, your broker will take their time in assessing your scenario. Firstly they must find a bank policy that suits your circumstances, then selecting the best features out, finally looking at competitive rates to shortlist a few products for you to choose from. e.g NAB might be willing to lend you the most money but if you don’t meet their policy requirements there’s no point looking at them. 14. What information do I need to provide you to obtain my finance? 15. What are the procedures that I need to follow in order to obtain my finance and settle my loan? 16. Can I choose to fix my interest rate in at a later stage? 17. If I choose to take out a fixed interest rate can I choose to lock my fixed interest rate in prior to settlement? A rate lock incurs a fee but may be beneficial to ensure you get the rate you want. 18. How long will it take for you to obtain the appropriate finance for my needs? 19. Can you explain to me what Lenders Mortgage Insurance is for? 20. Will you process the First Home Owner’s Grant for me? 21. If I have a default on my Credit Report will this impact on my ability to obtain a loan?

original source: http://www.yourmortgage.com.au/article/21-questions-to-ask-your-mortgage-broker-109066.aspx

The First Home Owners' Grant for QLD has enjoyed a little increase for a 12 month period.

The QLD FHOG is $15,000 for eligible first home buyers who signed a contract prior to 1 July 2016The QLD FHOG is $20,000 for eligible first home buyers who sign a contract between 1 July 2016 and 30 June 2017The QLD Government has indicated the FHOG amount will return to $15,000 from 1 July 2017

First home buyers are generally eligible for the QLD FHOG if they meet the following eligibility criteria:

You are at least 18 years of age;You are an Australian citizen or permanent resident (or you are applying with someone who is an Australian citizen or permanent resident);You are building or buying a ‘new‘ home;The value of the home is under $750,000;You or your other joint applicant(s) have not previously owned property in Australia; andYou move into the home as your principal place of residence within 1 year of completing the transaction and remain in the home for a continuous period of 6 months

A ‘new’ home is a house, apartment, unit or townhouse 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

How can I apply? Chat to us and we will help you through the process. Applying early means you will have access to the funds earlier than if you wait for the banks!

When choosing a broker you should ask the following three questions:

1. How do you select the most appropriate loan product?

2. Do you receive any volume based commissions from certain banks?

3. What industry body are you accredited through?

Why choose an MFAA accredited broker?

MFAA accredited finance brokers are the highest educated in the country

MFAA accredited brokers adhere to a strict ethical and professional code of of practice so you know you're in safe hands

MFAA accredited brokers have access to a large range of products across multiple lenders to give you greater choice

Redraw facilities are under-utilised - fact. Many don't realise that such a feature has the ability to save hundreds - no, thousands - over the lifetime of your home loan. A redraw facility can help you out when you're in a bind and need some emergency funds, or it can act as a forced savings plan; with your money tucked away in your home loan, you can employ the "out of sight, out of mind" approach, whilst saving big bucks on interest.

Firstly, what exactly is a redraw facility?

This handy feature allows you to make extra repayments on your home loan, and withdraw these funds as you require them. The key benefit of this feature is that you are reducing the principle on which you are paying interest.

For example, if you put $5000 worth of extra repayments onto your $200,000 loan, you will now only pay interest on $195,000. While this may not seem like a huge difference, it certainly accumulates over time; on a 30 year loan term with an interest rate of $6 per cent, your $200,000 loan would be charged $23720 in interest over the first 2 years. By contrast, if you add an additional $5,000 in savings at the start of each year, you would be charged $22,829 over the first 2 years. That is a saving of $891 in interest. And the best part? If an expense arises, you have $10,000 in extra repayments that can be redrawn from the loan at any time, to be spent however you wish.Pay off your loan faster.

In the below chart, you can see how extra repayments will allow these home owners, let's call them Steve and Sally, to pay off their mortgage in 18 years - 12 years faster than if they continue with just their minimum repayments. After paying $800 a week for 18 years, Steve and Sally pay approximately $300,000 in interest over the life of their $450,000 home loan. Sounds like a lot, right? Not when you compare it to the $800,000 in interest they would have paid had they continued their minimum repayments for 30 years! Of course, interest rates, loan structures and circumstances may change (in deed, the likelihood of the rate staying steady at 6% for 18 years is very slim) - but by paying more than the minimum each week, Steve and Sally have created a nice buffer to prepare for a rainy day, whilst saving bucket loads in interest.

Redraw facility vs offset account

Both of these features achieve the same end (by saving you in interest), but each have their own benefits and drawbacks.

I personally prefer the offset account as the funds are readily available, accessible via a debit card linked to the account.

Unlike the redraw facility you can perform your everyday purchases whilst the remainder saves interest.

"Plus you can have offset splits and divide your funds making it easy to see for example your holiday fund, emergency fund, new car savings....while all of these accounts may be able to offset against your loan!"

Obviously, when opting for this method though, offset accounts generally come as part of a home loan package, and may have higher interest rates than your standard 'no frills' product.

While redraw facilities with some banks may impose a minimum redraw requirement, or limit the number of times you can redraw. Regardless, this method is seen as a safer saving option to many, as the funds within are not readily available - you have to physically transfer them in order to spend them.

If you like the accessibility of the offset account, but prefer the security of a redraw facility, why not utilise both?

Property investment has long been a ‘go to’ strategy for Australian investors. Understandably, like all unchartered waters, it can prove a little bit daunting for first timers.

To help make things easier, we are here to answer some common questions that surround this type of investment strategy.

"Where do I start?"

It’s okay- you’re not alone. Many are confused about where to start when investing in property.

Firstly, it’s important to do your home work. Know the neighbourhood you would like to invest in. Chat to the locals, meet with real estate agents, research historical property values in the area. Do everything you can to ensure you are making a wise and a calculated decision.

Next, you need to start thinking with your head – not with your heart. Letting small irrelevant factors (like curtains or paint colour) cloud your judgement means you’re probably not going to make the best investment choice. Here are some more important things to consider: will this location attract good tenants? Will it provide gains and returns? Will it appeal to a broad market when you sell in the future? This kind of analytical thinking will help you make better investment decisions.

“What can I gain from investing in property?”

One of the main reasons Australian investors look to the property market is because of the potential for capital growth. This is when your property becomes more valuable over time, earning you a profit when you eventually sell.

Another way to gain from property investment is through positive gearing. This is when ‘money in > money out’ i.e. the rent you receive is more than your loan repayments and property maintenance. This can be a helpful strategy, as you receive fast money that can compliment your regular income.

“Is investing in property safe?”

Investing in property is a lot safer than other investment options. Stocks are volatile, and can rise and fall at a rapid pace. Even though house prices can also fluctuate, the demand for housing (which is fuelled by a rising population) means that the property market is sustained in the long term.

With property investment, you have a large degree of control. If house prices drop, but you still have a healthy cash flow coming in from your tenants, then you can generally ride the wave until house prices go back up again.

“What if I can’t find any tenants?”

This is a justified concern, and something you should prepare for. There may be periods when your property in untenanted, and you still have mortgage repayments to cover. A good way to pre-empt this is by paying slightly above your minimum repayments every week, as this will give you a handy buffer in emergency situations.

Landlord insurance is also extremely important to consider. You should find a policy that covers you if your tenant defaults on their payments, or else you will be left to come up with the money for repayments yourself –with very limited notice. Landlord insurance should also cover you for any damage to the property, and any of your contents within its walls.

We suggest talking to a buyers agent and asset manager who can ensure an advantageous investment opportunity, and we are only too happy to recommend those we have personally worked with and trust! Call us today!

Article source: http://blog.mylocalbroker.com.au/2016/05/23/a-beginners-guide-to-property-investment/

When it’s time to renovate, everyone wants to save money. It’s fine to be hands-on for some tasks, but there are a few projects that are definitely not DIY friendly. Here’s a guide to what you may want to do yourself and what you should leave to the professionals.

What to do yourself

Painting

A fresh coat of paint can give you a strong return on your renovation dollar. Painting is a job almost anyone can take on themselves, although it can be messier and more time-consuming than you might imagine.

The key to a successful paint finish lies in the preparation. Take the time to clean, sand and tape as necessary. Also, choose the right paint for the job and invest in good-quality equipment. Don’t skimp on brushes and rollers – a professional job looks professional because they use the right tools.

Handy hint: a water-based paint can help make the clean-up more bearable.

Paving

You can lift the appearance of your home’s outdoor areas with new paving. Laying bricks or square pavers is a simple task, although you do need to set aside enough time to complete each step properly.

Paving is a multi-step process, from preparing the pathway and cement through to laying the pavers. Try consulting one of the numerous online paving tutorials, or visit your local hardware store for advice.

Flooring

If your home has wooden flooring, you can bring it to life with a sand and polish. Hardware and equipment-hire stores rent out machines for home use. However, achieving a perfect finish is trickier than it looks. If you’re not confident on the tools, another DIY approach is to lay your own floating floor, or even stick down self-adhesive vinyl floor planks or tiles.

What to leave to the experts

Electrical and plumbing

Undertaking electrical or plumbing works can be illegal and potentially life-threatening if you’re not a qualified tradesperson. If electrical and plumbing works aren’t done by a professional, you’re risking personal harm, and exposing your home and family to the risk of fire or flood damage. Leave this to the experts.

Asbestos removal

Prior to 1987, asbestos was commonly used in Australian home construction. If your home was built or renovated before this date, there’s a strong chance it could contain asbestos.

Even minor home maintenance tasks such as drilling a hole into a wall or installing a light fitting can create a health risk by causing asbestos fibres to become airborne. Always engage a licensed asbestos assessor and remover to handle any asbestos concerns at your property.

Roof repairs

Many a DIY renovator has regretted the decision to try to repair their own roof. Falls from ladders are a common cause of injury. During 2011–12, 1,294 men (78%) and 374 women (22%) were hospitalised in Australia as a result of a fall on or from a ladder, and 62 per cent of these injuries happened in or around the home.

A DIY approach can be friendly on the wallet, but there are some jobs simply not worth tackling – your safety is far more important. If you’re considering home renovations, contact your mortgage broker first to find out how much you can borrow.

Article source: http://yourloanhub.com.au/2016/08/31/the-renovation-jobs-you-can-do-yourself-and-those-you-shouldnt/

"Do you have an offset account?" is a question often heard at Sunday BBQ. It's a broking buzz word and although friends and family have your best interest at heart, that I often get asked what it actually means.

Offset accounts can be very advantageous but it all depends on your circumstances and the structure.

What is an offset account?

A 100% offset is a transactional account that sits alongside a home loan. The significant advantage comes as any money sitting in the account reduces the amount that the bank calculates interest payments against.

For example, if you have a $500,000 loan, and $100,000 sitting in your offset account, the bank is charging you interest on $400,000.

Ultimately, this can help pay off your loan quicker, as long as you’re also equipped with knowledge on how to make the most of your offset account.

Are there any disadvantages?

An offset feature is essentially making your money work for you. It is not available with all lenders and is only offered with some products. It is also more costly. A basic, no frills home loan will attract the cheapest rates. Adding the bells and whistles will drive the interest rate up. It can also generally be offset only against the variable portion of the loan.

This is why it pays to use a broker. They can assist with the structuring of your individual scenario aligning you with the most beneficial product for your circumstances.

For example, although more expensive it may still result in an overall better net position at the end of the day. On the flip side, if you’re not going to use the offset account to its fullest potential, it may be more profitable to choose a basic product, fixing a low rate.

There are so many options to consider, so call or email us today and let us make your money work for you! We can also provide tips and tricks on how to maximise savings and create a healthy offset account!

Mortgage broker commissions uncovered

So you’ve decided to partner with a mortgage broker to smooth your first – or return – entry into the world of property, mortgages and loans.

But before you choose your mortgage broker, it’s worth understanding the value they bring to the lending equation, and also how their commission structure works. After all, if you’re not paying the broker for their service and advice, who is?

What can I expect from a mortgage broker?

A mortgage broker will work with you to understand your goals and objectives, as well as your borrowing capacity, and will help you secure a loan that meets your needs from a panel of lenders. This includes reviewing a range of loan products, negotiating with panel lenders on your behalf and seeing the loan application process right through to settlement.

In Australia, many mortgage brokers provide their services to customers free of charge. In nearly all cases, brokers rely on commissions paid by lenders on loans settled consequent to applications the brokers submit on their customers’ behalf.

Many home owners and property investors work with mortgage brokers because they provide expert knowledge and have a comprehensive understanding of the lending landscape. Researching loan products can be time consuming, however mortgage brokers have the features of numerous lenders’ loan products at their fingertips, saving their customers a lot of legwork.

How do broker commissions work?

Lenders pay mortgage brokers a commission on the loans they arrange for customers. Generally, mortgage brokers receive two types of commission from lenders.

They may receive an upfront commission that is based on the amount of the loan settled and they may also receive what’s known as trail commission calculated on the outstanding balance of the loan.

In each instance, the mortgage broker should give you particulars of the commissions they will receive on your loan.

I’m not a first homebuyer – can a mortgage broker still assist me?

If you’ve bought property before, chances are you’ll have some understanding of the lending environment. However, loan products change frequently, as do lender terms and conditions, so working with a mortgage broker can help even the most seasoned property buyer secure a competitive and tailored loan product.

Mortgage brokers provide an expert and time-saving service to loan customers all over Australia.

To help you secure your home loan, contact us today!

This article first appeared in Your Loan Hub: http://yourloanhub.com.au/2015/12/04/mortgage-broker-commissions-uncovered-2/

Jade Plant

Jade plant, commonly known as “friendship tree,” really could be a great pal when it comes to the gift of clean air.

This plant removed more than 80 percent of benzene, toluene, ethylbenzene, p-Xylenes and o-Xylene. And in the 70-percent range, it did an OK job of pulling acetone out of the air. Of all the plants tested, this was the best houseplant for removing toluene pollution from indoor air. It removed a whopping 91 percent from the air. Just one quick tip since we’re talking about the best houseplants the remove pollution: be sure to avoid plastic pots, since plastic also off gases and pollutes your air. Look for OMRI certified potting soil (and even organic houseplants, if they’re available in your area.) OMRI can be found on the label and means the soil is approved for use in organic agriculture. This means there aren’t toxic chemical pesticides or additives in the soil.

Bromeliad

The bromeliad plant scored very well at removing six out of eight VOCs studied. The tropical plant stripped more than 80 percent of each of those compounds out of the air within a 12-hour timeframe. Dr. Niri says this is one of the best houseplants to have in the home or workplace.

Importantly, it helped rid the air of toluene, a toxic solvent that even at low levels can lead to tiredness and weakness. Paraffin candles, the most popular type of candles burned inside homes and offices, have been shown to emit toluene and benzene. Benzene is a carcinogenic solvent found in automobile exhaust. (I don’t recommend burning candles in the home, but if you do, stick to unscented beeswax.) (2, 3) This plant was most effective at removing benzene, with a 92-percent removal rate within 12 hours.

Dracaena

Acetone, that nasty, stinky VOC found in nail polish remover, can trigger headaches, dizziness, eye irritation and central nervous system damage. (4) (Rethinking getting those nails done?) While all of the plants tested removed acetone from the air, dracaena was a superstar, removing 94 percent of the chemical from the air. Acetone isn’t limited to nail salons, though. It also off gasses from particleboard, household cleaners, rubber cement and paint. (5)

That’s why Dr. Niri says he’s interested in doing further real-world testing to see if placing plants in nail salons could serve as a cost-effective way to help protect workers and customers from toxic emissions in nail salon settings. In fact, the inspiration for this study occurred when he and his wife walked into a nail salon — and he had to walk out immediately due to the overwhelming air pollution. (6)

Spider Plant

While the spider plant isn’t very good at sucking up benzene and toluene, it’s better at cleaning the air in other departments. This plants removed more than 80 percent of the ethylbenzene, p-Xylenes, o-Xylene and acetone from the air in chamber testing.

Ethylbenzene is a toxic solvent found in inks, paints, fake rubber and pesticides. It’s also commonly injected into the ground during fracking operations, and increasingly winding up in people’s drinking water near these operations. (7, 8)

Xylenes have the power to trigger dizziness, memory problems, fatigue, tremors, breathing problems and even kidney damage. These VOCs are found in paint thinners, in printing and cleaners. (9, 10) Dr. Niri’s testing found the spider plant ranked top in removing ethylbenzene (62 percent removal rate), p-Xylenes (92 percent removal rate) and o-Xylene (93 percent removal rate).

Article source: Dr Axe, draxe.com/best-houseplants-that-remove-pollution/?utm_campaign=Article-September-2016&utm_medium=Social&utm_source=Facebook&utm_term=houseplants

Artwork is luxurious, a beautiful piece of art can really tie a room together, complementing your style and breathing life into a home. But the wrong piece may also ruin your design or confuse the style. And with so many options it can definitely make even the most decisive person a little nervous. So before you invest in a piece of art, carefully consider the following:

Your Style

What is the style of your home? If your adobe is industrial, dominated by concrete and exposed brick, French Impressionism (think Monet) is probably not going to complement the architecture.

Location

Where is your art going to be featured? Think about how certain artworks will interact with existing paintings, sculptures or family photos surrounding it. You really want to establish fluidity throughout your house. Which brings us to our next point…

Consistency

You will want to be consistent with your artwork. You don’t need to deck your house out with the same artist, but choosing 1 piece and then injecting similar colours into other rooms will work very well. For example, choosing a large, abstract painting boasting a few rich colours, proudly perched atop a fireplace will then give you lots of colours to work with for surrounding walls and rooms.

Photos versus Brush Strokes

Again, you don’t have to choose one or the other but when purchasing a painting, you should consider artworks that will allow you to also incorporate photography without it looking mismatched

Our suggestions:

Hallway: I love a monochrome photo wall! Mix and match black and white family photos with graphics

Living: I cannot go past an animal photo. Something simple like this cow portrait is clean and crisp and gives you a neutral colour palette to complement almost any furniture. It is simple yet the high zoom and focus allows you to see a lot of detail. The living room is an informal space so this picture complements the relaxed vibe.

Dining: Something slightly more formal would be appropriate in this zone. Heather Day does abstract expertly, and would have something to suit any style.

Kitchen: If you’ve got spare room on your kitchen walls, this is always a great place to frame children’s art. It always looks very effective.

Bedroom: Because it’s not a high traffic area you can do generally choose a bold piece of artwork. Remember though, you want to choose soft and calming colours, nothing too intense that will agitate your tired mind!

Kids rooms: A funky water colour piece with simple, yet modern palette.

Study: Motivational graphics are easy to find on Etsy and very economical.

Bathroom: Yep, the bathroom. Something simple such as a landscape photo would generally work nicely here.

Christina Lennie of Metropole Property Management chats to us about the importance of engaging a quality property manager.

When you consider that buying an investment property will be one of the biggest financial commitments you ever make, why would trust just anyone to look after it for you? For a small annual fee, professional property management can save you valuable time, money and headaches, making your investment journey a lot smoother. And of course the property management fee is fully tax deductible. However just as you need to do your research to secure the best possible investment property, you must also dig a bit deeper when you go in search of the perfect property manager. So what do you look for when seeking out a property manager who will act on your behalf ensuring your investment performs at its peak?

Proactive management Your property manager’s responsibilities extend beyond collecting rent and dealing with maintenance issues. Good property management requires proactive thinking and a “passion” for the industry. They should conduct regular rent reviews to ensure your tenants are being charged the correct market rental and your yields are maximised because, after all, landlords rely on their tenants to help meet their mortgage commitments.

Expert advice A good property manager will be able to assess your investment property to determine how much it should be marketed to prospective tenants for. If you charge too much for the property or area, you stand the risk of extended vacancies, but if you charge too little, you are not making the most of your yields. Look for a property manager who is willing to give you their honest opinion with regard to any possible improvements you could make to your property so that it is more appealing to tenants and will be a strong contender in the local market. They should also be able to suggest small upgrades that can greatly increase your returns, such as installing a dishwasher or air conditioner.

Finding the right tenants Property managers can advise you on the suitability of applicants and should have all of the relevant industry tools at their disposal to check references and past rental histories. Many will have a database of prospective tenants whose requirements can be matched to you particular property in order to fast track the letting process and minimise vacancy periods. They will always look out for applicants who are most likely to be long term, reliable tenants.

Look for the best, not the cheapest Often the first question an investor will ask when enquiring about our property management services here at Metropole is; how much are your fees? While it is reasonable to establish the ongoing cost of engaging a property manager, this should not be you primary consideration. Ultimately, you want the best service rather than the best deal.

Interview a number of property managers before making a decision and trust your instincts, because at the end of the day you have to deal with your property manager regularly and you’re entrusting them with a very costly asset.

For a list of questions you should always ask a prospective property manager before engaging their services visit: propertyupdate.com.au/investing-in-the-perfect-property-manager

Selling your home? Your real estate agent will have discussed the importance of creating competition and hopefully you’ve selected a strategic marketing campaign to attract many buyers. So obviously you want your potential purchaser to be excited, not disappointed, when they turn up to your property. Following these simple steps will ensure you make a great first impression.

It's all the detail - style shelves

without cluttering

House exterior

Remove bikes, tools and any clutterConsider washing the home’s exterior and/or the windowsMake sure all outdoor/patio lights are workingAnd consider adding path lights – they will look very effective for evening inspectionsAre all steps and railings secure?And oil the front door!Leafy green plants framing the front door make a great feature

Yard

Fresh mulch in the gardens can make a big difference!Mow the lawnCall in the experts if need be

Interior

Clean the garage and make sure all cupboards and storage areas are tidy. Messy or cluttered areas suggest inadequate storageNever underestimate the power of hire furniture. It really does make a massive difference. Chat to your agent about it and get a free quote!If you’re going to keep your furnityure in place, consider how people will most likely utilise the different spaces and create ‘zones’ (more on our Pinterest page)Clean the stove, oven, bath and sinkCheck all light bulbs work and employ lots of lamps and candles

Day of open home

A nice fragrance and fresh flowers never go astrayStyle certain rooms using books, magazines and throwsDepending on your property and area demographic of course, the aim is to make the home feel lived in and loved, whilst simultaneously allowing the buyer to picture themselves living thereTurn on all the lights (every single one!) as well as the heater/fans/air con (depending on the season) ready for your agent to let in the masses. Then head out, and take all the kids and animals too! Let buyers wander around uninhibited

Whether you’re an investor, first home buyer, upgrading or downsizing it is imperative you have a buying strategy. Here are some points to consider when investing, to ensure the property is inline with your financial goals.

Demographic

Research the area demographic. If it’s largely made up of families, buying a 2 bedroom unit may not be a popular home for tenants. If the area is mostly comprised of young professional couples, they may be looking for a low maintenance property. Always consider who your potential tenant will be.

School Catchment It’s always valuable to purchase in a sought after school catchment. And are popular particularly if available to rent in December/January (prior to a new school year starting). There are Government websites which provide insight to primary and secondary state schools.

Employment

What’s the unemployment rate for the area? Is it likely that the main source of employment will slow? For example mining towns.

Strata If you’re buying in a complex, ensure your property has a unique point of difference. If there are other units available for rent at the same time as yours, what will entice a tenant to rent yours? What will ensure a strong rental yield for you?

Lifestyle Is the suburb well equipped? Score the location, can you walk to cafes, shops, restaurants? Are there any bike tracks or local facilities?

Infrastructure and Development Are there any planned developments or infrastructure upgrades for the area?

Resale

If your circumstances did change and you had to sell quickly, could you? What’s the average days on the market for the area? Has the suburb experienced strong, long term growth?

Renovating

Are you planning on renovating? The potential to add value is always a bonus, just ensure you’re not over capitalising.

Income insurance, also known as disability insurance, covers your income if you won’t be able to work due to an accident or an illness that will take you months to recuperate from. It also includes financial support to your family if you can never work again.

Matthew Beauchamp, and insurance broker at Beaulife Group talks to us about the importance of personal insurance.

Think about your expenses, if you couldn’t work how would you pay your mortgage, car loan, school fees, household bills?

Likely being the largest sum of debt you may have; a mortgage broker is obliged to ask the question if you are properly protecting your assets through insurance. Unfortunately, the response sometimes is a casual ‘we’ll be right.’ Most people understand that they are not immune to risk – after all they insure their cars, belongings and pets but not their income, the most important source, if not the only source of revenue. Yet Australia is grossly uninsured.

Beaulife's mission is to help clients create a safety net for themselves and their families in preparation for the unknown. A growing problem they are seeing is engaging over the phone or online insurance companies. These companies often review your application at the time of claim meaning that you may be paying for insurance that doesn’t actually cover you when you need it.

The amount of cost and cover will depend on a number of different factors. Your financial adviser can assist you to accurately assess your circumstances and calculate the appropriate level of cover to protect you and your family.

You’re moving house, your home’s been boxed up and you’re a bit overwhelmed and potentially stressed; but at least you know what’s going on. Your furry family members weren’t consulted about the move, so they’ll be very confused, uncomfortable and frightened. We want to help you minimise the stress to you and your pets and make this move exciting and fun!

PET SITTER

Consider placing your animals in a kennel while you move, or perhaps a friend or family member may be able to pet sit? This will help get them out from underneath your feet and also enable you to set up and prepare to introduce them to your new home!

NEW VET

If you have to change vets, organise this prior to moving. Locate your new, local vet and emergency after house vet, too. You may need them sooner than you expect. Ask your current vet to forward your pets files over as well.

IDENTITY

Remember to update the address on your pet’s tag, as well as updating your details with you local council and their microchip details, too. If they are ever going to escape, it might be during a move and they won’t know the area.

ROAD TRIP

If you’re relocating far away, ensure you have your dogs supplies packed separate and stop regularly for them!

PREPARATION

Prior preparation will ensure a smooth introduction with the least amount of stress. I know it’s tempting but don’t throw away old blankets and bedding in the move. Keep as much consistency as possible. Have the house ready to go, and ensure the yard is secure.

SETTLING IN

Settle your pet in with its bed and toys to give it some familiar smells and surroundings. Consider placing some of your clothing too, with the dog or cat. Owners smells tend to have a calming effect on your animals. Cats must be confined, potentially for as long as 4 weeks until they realise that this is now home.

RELAX

Spend time with your pet and give it some reassurance and well-deserved attention. Let them explore and give them some treats. We know you want to!

ROUTINE

Try and keep your pets routine the same, such as feeding and walks

N.B. The information provided here is of a general nature only. Consult a vet for the best advice on looking after your pet before you move.

FISH & AQUATIC ANIMALS

TRANSPORT

Collect bags from your local pet shop to transport your fish. Fill the bag with your aquarium water, and remember to leave as much oxygen in the bag as possible.

FILTER

The filter has its own little eco-system so if possible, transport it in a bucket of your existing aquarium water. This will ensure your new set up starts in good health.

TANK

Remove your decorations etc from the tank, and transport to your new home. Once it’s reassembled you can add your filter and preserved water. How long until you add your fish will depend on how much preserved water you were able to transport. It’s a good idea to turn the heater up to help warm the water but don’t forget to turn it back down. You may also need to rebalance the water and add dechlorinating agents.

FISHY FISHY

When your tank is at the correct temperature and filters and pumps are on and working, it's time to introduce your fish back into their aquarium. For bagged fish, float them for around 15-20 minutes, then carefully undo the bags and roll down the sides to allow the new tank water to gently enter the bag, this will allow the fish to adjust to the new water and temperature.

N.B. The information provided here is of a general nature only. Consult a vet for the best advice on looking after your pet before you

Generally…

The general rule of thumb is 20% of the purchase price. Meaning that the bank will lend you 80% of the purchase price. However, don’t forget the other associated costs that come when buying a home. Stamp duty, solicitor fees, building and pest etc. This can sometimes be tricky when trying to break into the property market, particularly as the price of homes rises. So there are some other options….

Lenders Mortgage Insurance

Buy now, and pay lenders mortgage insurance (LMI). LMI is calculated on the amount you wish to borrow. Some banks will let you borrow more than the standard 80%, for example up to 95% of the value of the home. Keep in mind the insurance is for the bank in case you default on the loan, not for you. LMI is generally a couple of thousand dollars. It can add up however, for some people depending on their financial position and goals, breaking into the market now as opposed to waiting can be beneficial, accumulating capital growth. LMI is added into the loan amount.

Guarantor

Maybe mum and dad really want you to move out, and would consider going guarantor on a loan? Instead of the bank taking a deposit the guarantor can offer security for the loan (e.g equity in their own home). It’s lovely if family or friends can help you break into the market however, they must seek independent legal advice and it is not without risk.

Wait and Save

Good old fashioned wait and save can seem tiresome but it’s fantastic to be able to provide security whilst also proving you can save. Call and have a chat to TFF as you may be closer than you realise or have alternative options to look at.

No matter your options, when borrowing a large sum of money (potentially the most money you’ll ever owe) it is paramount to ensure your income is protected. Stay tuned for our next article on risk insurance!

I find these four activities, although simple, really ensure productivity. They are paramount in daily operation and help me stay on task.

Routine

Routine will set you free! My life is one big list squeezed into a calendar and I don’t know what I’d do without it. The last thing I do at night is look at my calendar and prepare a rough to do list for the next day. Then the following morning, I re-assess my to do list, based on emails that came in overnight. I cannot work productively without this, it keeps you on task. And it’s also very satisfying crossing items off! Some tasks may stay on my to do list for a week, or even a month, but as long as you get there eventually.

Objectives

Much like my to do list, I set objectives every day. Planning your preferred outcome will ensure peak performance. It may sound over the top but why tick off your daily activities if there is no projected result? What do you plan to achieve today, and what is the consequence if you do not complete your work? If you’re a visual person, surround yourself with these goals – my computer screen is currently a picture of an exotic destination. It’s a daily reminder of the big goal which I will only achieve if I meet my daily intentions.

Non Negotiables

Entwined in my to do list, calendar and objectives are my non negotiables. A reminder pops up…it’s time for “Social Media Marketing”. Ugh, I’m not feeling creative and I’m so busy. But, it’s important and in a month when I find some free time, my brand will have suffered. Decide what is crucial stick it in your diary and do it! The rest of your day can be flexible and allow for organised chaos.

Clean

My desk reflects my head space. If my desk is messy I’m usually a bit flustered and being disorganised means I’m not running at peak efficiency. Don’t procrastinate and spend time every day cleaning your desk, but utilise organisers to ensure your desk is orderly. A quick clean up allows me to start a fresh and tackle my to do list. Make your work station an enjoyable space – in these cooler months even just lighting a candle makes my desk feel warm and cosy.

And if all else fails, create a rewards system. If I’m feeling particularly unmotivated I'll treat myself if and when I get my work done.

While on the subject of a home loan health check, have you recently assessed all of your debts?

Debts such as personal loans and credit cards attract much higher interest rates. Refinancing to consolidate your debts may lower your repayments saving money long term.

Talk to us about refinancing and comparing home loans. We will assess your financial position before making any changes to ensure you get the best product in the market place.

End of financial year is often a great time to complete a home loan health check! You’re trawling through paperwork and crunching the numbers anyway, what better time to try and save some money!

Setting up your home loan correctly, or looking at your refinancing options may save you money in the long run and ensure every dollar is working for you.

Do you have an offset account? Any money in this account works to offset the interest you’re paying. Redirecting your money to this account, essentially using it as a savings account can ultimately reduce your interest repayments.

For more information, contact us today!

THE BASICS buying a property? We’re aiming to take the confusion out, allowing it to just be an exciting experience!

BE PREPARED

Particularly in a competitive market, it pays to be prepared. Seek pre approval and familiarise yourself with the buying process. This will give you a competitive advantage. Request our pre approval checklist!

OPEN HOMES

Attending the initial open home will greatly improve your chances of securing a property. Have you ever called a real estate agent only to find out the property is already under contract? It also may be advantageous when speaking to agents to get on their VIP property updates - they often contact their database prior to listing a property on the internet. Remember, be nice to the agent!

Auction

To bid at Auction you must be pre approved (which may require a valuation on the property) and it’s advisable to carry out a building and pest, if the agent doesn't have one to provide. Do your research, set a budget...and bid!

Private Treaty

All agents work differently so this process will vary. You’ll either sign a contract or submit an offer. Either way, your offer will be presented to the owner and hopefully they will negotiate with you. If there are other offers, the process will be slightly different. Your agent should walk you through the steps however if you’re confused feel free to call The Finance Firm.

CONDITIONAL CONTRACT

Your contract may be subject to conditions. The two main conditions that are written into the contract are: Building and pest – you can complete a building and pest inspection within 7 days. It’s advisable that you attend the inspection so to chat to the inspectors directly and they will point out any areas that require attention. Often the written reports always sound quite serious due to the legal consequences. Finance – generally you can obtain finance within 14 days. Pre approval is so beneficial and it’s paramount that you inform your broker as soon as you’ve submitted an offer so they can get the ball rolling. Some brokers will request 21 days, but vendors will often reject this as it’s a long time to take their property off the market. Conditions - particularly in a multiple offer situation, owners will of course look at your price but also your conditions. Make them as neat and appealing as possible!

UNCONDITIONAL CONTRACT

Once you’ve satisfied your conditions. This is when the sold sign will appear! Generally, settlement will occur two weeks after this stage. Request our Guide to Moving for some helpful hints and time saving tips.

PRE SETTLEMENT & SETTLEMENT

A few days prior to settlement you are entitled to inspect the property to ensure it’s in the same condition as when you bought it. Your solicitor will advise once settlement has been booked. Once settlement is effected, the keys can be handed over to you. Pop the champagne!

Saving a deposit for your first home? Want to start your property portfolio? Or simply looking to reduce your debts? It certainly pays to be thrifty, but you don’t have to spend your weekends on the couch! Here are some great ideas to get you out and about, on a budget.

Stradbroke Island

A short, cheap ferry ride away is beautiful Stradbroke island. Leave the car at home, you can catch a bus from Dunwich around the island. The North Gorge walk is a must, offering stunning views (and you might spot a few kangaroos!). Spend the rest of the day soaking up the sun.

Local Markets

Produce from markets is often cheaper (and fresher). So why not head out to your local farmers markets on the weekend.. Enjoy the ambiance whilst saving money on your weekly groceries! Our favourites are the Eagle Fam Markets (although you can’t take dogs), Jan Powers at New Farm, and Milton is getting its own market in April too. If you can venture a little further Burleigh Heads has many markets to choose from, or Eumundi is sure to give you hours of fun.

Workshops

The Brisbane City Council always often free events. For example they host terrarium courses and other craft lessons at local libraries. They also coordinate activities for the kids on schools holidays as well as group fitness classes and guided garden tours. Visit www.brisbane.qld.gov.au/whats-on for more information.

Springbrook National Park

Springbrook is roughly 36km from Nerang. Dominating the Gold Coast's western skyline, Springbrook's cool forests and mountain streams offer views of impressive landscapes, waterfalls, cascades and tumbling creeks. Visit Natural Bridge by day or after dark to discover the park's amazing glow-worms. There are campsite facilities if you want to make a weekend of it, and it’s only $12 for two people to camp overnight. See more information here: www.nprsr.qld.gov.au/experiences/camping/camping_fees.html

Mt Coot-tha

Another outdoor activity, this one’s a little closer to home. Located on the city fringe enjoy many walking tracks. With a magnificent view and cafe at the top waiting for you. The base is home to botanic gardens where you can enjoy a picnic.

New Farm

Jump on a ferry at Bulimba and enjoy the Brisbane city scape heading over to New Farm. Or cycle the New Farm Riverwalk. Enjoy a picnic in the park and finish the day at the Powerhouse, there are often free gigs and comedy acts on the main stage on Sunday’s.

GOMA

Offering free guided tours, head to the Gallery of Modern Art for something different!