While most of the information on the web regarding real estate is nothing but advertising, time wasting, confusing and scams to name a few, here are some genuinely useful resources you can utilise.
PROPERTY INVESTMENT 101
- Money Smart – Australian Government website with no fluff information on the pros and cons of investing in property, how/where/what to buy, risks, hidden costs, and some general tax information and case studies. It’s a bit light on detail, but it’s a great starting point.
- How much can I borrow? – Quickly estimate your borrowing potential. For a more detailed analysis you need to read Property Investment 101: The Beginner’s Guide, which also includes a downloadable personalised calculator
- Savings goal calculator – Helpful for trying to save up a deposit
SEARCHING FOR PROPERTY
- Domain and realestate.com.au – Nothing new here; the two biggest and free property search websites in Australia. What is important is how you utilise their search features. This will be the topic for a future article, but for starters ensure that you pay close attention to the search filters, and if you’re serious then it’s definitely worth subscribing to the email updates for your target market.
- Home loan calculator – Estimate your repayments with different loan options
- Mortgage insurance calculator – For if your LVR is greater than 80% and you can’t get a guarantor. Remember to check the final value with your lender
- Stamp duty calculator – Don’t forget to deselect first home buyer, unless you’re in WA or buying/building a new home
- Individual tax rates – Figure out which tax bracket you’re in and your tax rate. Includes past and present years.
- Rental property video series – Excellent series from the ATO for those seeking easy to understand tax information on their investment property
- Rental properties 2014 – This ATO guide goes into the details and provides more examples for those completing their tax return
- Guide to depreciating assets 2014 – This guide from the ATO accompanies the rental properties guide and goes more into detail on the specifics of claiming depreciating assets
- Tax depreciation calculator – Estimates your potential property depreciation tax refund.
- Gumtree – Gumtree allows you to advertise your property yourself and for free, avoiding advertising fees and agent commissions. Stay tuned for a detailed guide on renting out your investment property.
- Being a landlord – NSW Fair Trading site for information on renting out your property yourself, including all the required forms you’ll need.
Missing your favourite resource? Feel free to mention it in the comments below.