Your first renovation should be kept simple. Getting some basic plans
drafted up, laying out what you want to change in the bathroom is key.
You will need to consult with an architect to draw up some basic plans. These
plans will help the tradespeople you hire organize themselves to get our vision
into reality. Without these plans no tradesperson is likely to commence working
on any renovation.
You will need to speak to an electrician to spruce up your lighting. You
will need to consult an electrician to install your new lighting. For new
lighting ideas and designs you could visit a local lighting store or bathroom Centre
where you can look at different lighting ideas.
You will need to speak to a tile layer to replace the tiles. Before you
rip up the tiles in your bathroom, you want to choose the kind of tiles you’d
like to use in your bathroom. Sometimes changing the tiles Is enough to bring
new life into your bathroom but most people replace the sink and tiles
You may even need to speak to a plumber to reinstall the sink if you are
keen on switching it out for something new. If you have purchased a new sink or
found a sink that suits your tastes, try finding some matching tiles or
lighting that suits your taste.
This is your first bathroom renovation, make sure that you take your
time researching, planning and designing your new bathroom look. Don’t be
afraid to look on Pinterest for bathroom design ideas. Remember, if the
renovation is substantial than you may need council approval.
There are several steps you should follow when choosing your first apartment. This article will touch base with those ideals and guide you in the right direction. Make sure that you keep on working with a real estate agent who works in your best interest.
When choosing your first apartment you are going to have to understand your financial limitations, you are going to need to pick a budget and stick to it. There is no point in going over your budget if you cannot get the finance for it.
Your budget should include:
Interest rate on the loan
Your living expenses now vs your
expected living expenses
Stamp Duty or grants or exemptions
When researching for your first apartment you want to find a place that
is going to have secured parking or reliable parking. Your apartment will need
to be close to a supermarket, school or shopping Centre. As you want your first
apartment to appreciate in value and not stagnate with market rates. Choose an
apartment with lots of natural light and airflow. As this will make it easier
to keep the apartment clean and mold free.
Make sure you choose an apartment as close to important hubs as you can,
apartments that are close to central business districts appreciate in value at
a more predictable rate and are easier to sell if you ever want to move.
Before choosing your insurance policy, make sure you take the time to read and compare the Product Disclosure Statement. One insurer may have 4 different kinds of home insurance so make sure you research what is right for you thoroughly.
Make an inventory of all of your furniture, appliances, jewelry and
other things which may be important to you. Be sure to catalogue your things in
a spreadsheet. With the date one which you catalogued these things. Then, make
sure you take a video and photographs of these items. You want proof of
ownership to make sure that if anything goes wrong, you won’t be out of pocket.
If you got a kitchen upgrade, catalogue it. Do not rely on other
contractors or service providers who worked on your home to store information
about what they have done for you. They have many clients, it’s not a reliable
way to go about things.
Once you have catalogued these items, find out what you paid for them
and when you paid for them. You don’t need receipts just the timeframe of when
you bought something and how much you bought it for. Then compare how much the
item is going for on the market now. If you bought a TV 2 years ago it is
likely being sold for 60% of what you originally paid.
This inventory will help you ascertain your “Contents”, contents is
2/3’s of your home policy, as you want to be sure that if something happens
that you are covered. Make sure you read through your PDS because most policies
will only cover a nominal amount of contents, if you have more contents that
needs to be covered then you will need to upgrade your policy.
Most home insurance policies have minimal cover for theft / burglary,
fire and flood. Don’t be fooled, flooding from rain can cause more damage than
fire. A home could be condemned due to mold from water damage, needing
specialty removals to clean up the site and rebuild. It’s an expensive process.
The best coverage which is also the most costly, is a comprehensive
policy which covers you from fire, flooding and burglary. Comprehensive
insurance is the right policy for a first home owner. Peace of mind is worth
If you are in looking to purchase your first home, you want the process to go as smoothly as possible. You want a broker who can organize your finance without fuss or stress. You want to be able to delegate as much of the process as you can, so you can focus on getting through the settlement period.
You are going to be looking for a mortgage broker who puts your
interests first, communicates well and has a professional approach to obtaining
When searching for a broker who puts your interest first, you may have to pay a fee upfront. When you pay a mortgage broker a fee upfront, you are ensuring that they are not going to rely on commissions from the bank or ‘tail fee’s’. If a broker is charging a fee upfront, it means that are doing the right thing by you, as to not be dependent on the banks kick-backs.
Look for a broker who call’s you back when you ask, returns your emails
and texts. This is your first home and you cannot afford to take any risks with
brokers who are non-communicative. At the same, brokers may have other clients,
this respect works both ways and you are not the only client who is trying to
get through the process with as little hassle as possible.
Choose a broker who projects a professional image and takes their
business seriously, you want a mortgage broker who understands the importance
of their role and how their actions can impact you personally. Look for a
broker who clearly advertises their contact information, takes the time to go
through the process with you and informs you about the best rates from all the
You want a broker who can suggest a product for you on your best
interests, if a broker suggests you should take out a loan which maxes out your
borrowing capacity, run – don’t walk away. If a broker is willing to put you in
hundreds of thousands of dollars indebt for the sake of earning a one-time
commission than you are better off elsewhere.
There are two kinds of assistance available for first home buyers which are made available for purchases within NSW.
First Home Buyer’s Assistance Scheme
To qualify for the first home buyer’s
assistance scheme, you must be purchasing property for the first time and must
move into the property within 12 months and live there for at least 6 months
continuously. You must be an Australian Citizen or Permanent Resident of at
least 18 years old. If you are successful, you may receive a full or partial
exemption for stamp duty under the first home buyer’s assistance scheme.
First Home Owners Grant
To qualify for the First Home Owners Grant, you must be purchasing or building your first home, it must be a newly constructed home with a market value of $750,000. To qualify as a first home buyer for the first home owners grant, you must be purchasing the first home you or your spouse have owned. You must move into the property within 12 months and live there for at least 6 months continuously. Additionally, you must be an Australian Citizen or Permanent resident of 18 years old. If you are successful, you will receive $10,000 towards the purchase price in addition to the First Home Buyers Assistance Scheme.
Are you Eligible for an exemption of NSW Stamp Duty?
You are eligible to apply if you are
buying or building a new home, you may qualify for a $10,000 grant under the
First Home Owner Grant (New Homes). The grant is available for: contract to buy
a new home; building contract by the owner of the land; and owner of the land who
is building their first home. However, the purchase price of the new home must
not be more than $600,000 but if you are buying land to build your first home
it must not be more than $750,000.
You may be eligible for a grant on your
first home as an individual not a business or family trust, you also must be
over 18 and at least 50% of the ownership must be an Australian citizen. You
won’t be eligible for the grant if you or your spouse have previously owned a
home or received a grant. Your must move into the house within 12 months of
your purchase and live in it for 6 months continuously. If you are building
your new home, then you must move in within 12 months of construction being
A new home is a home that is being sold the first time and the house has never been lived in before you move in, including by the builder of tenant. A renovated home is capable of being a new home, but it would have to be substantially renovated before you buy it, most of the home would have to be removed or replaced and it has to be the first time the home has been sold after renovations. It must not have been lived in since being renovated, including by the builder or tenant.
How to Apply for a Grant or Exemption of Stamp Duty in NSW?
You may apply for the grant when you apply
for finance through your bank, you can ask your mortgage broker for assistance.
If you have purchased your home or have started construction, then you may send
the application for the grant to RevenueNSW. You must apply within 12 months of
the settlement date or upon the completion of the construction.
You can apply for the grant by using the
approved application form, the form has all of the information you need to
apply. You will need to include supporting documentation to support your
application for the grant such as: Identity, copy of the contract which has
been signed, proof that this is your first home this can be done by supplying
an affidavit. If you are building your home you must provide council approval,
building approval, contracts for the build, land valuation and occupational