I believe about 1 in 5 people fix their loans at the moment, which is close to a record high. I can understand a first homebuyer or someone making a large purchase on an owner occupied home right now fixing – for an IP though most of the reasons already stated may point to variable as a more suitable option for some – depends on your plans. I almost changed out of a fixed loan a while back when I had the opportunity on a 'buy and hold CF neutral type property – chose not to, and it is still at 6.65 % for another couple of years – beats 7.49 with a monthly fee and 8.07 as the banks two other variable loan options. !  As a sidepoint, a lot of good lenders will now allow you to pay extra off a fixed interest loan at no cost or penalty, (for example up to $10,000 annually) but obviously if you are planning to sell or access equity  (if you have any) before the fixed loan term expires, you will pay $$$$$$$ to get out early.  All the best.

hi. I have no experience as such with them. But if the lowest rates are your first concern, I imagine you may feel like many who just scour the internet for the cheapest rate and don't care who it is from – if so they may be your cup of tea. Alternatively you may prefer to pay a slightly higher rate to go with a better known lender that has branch presence, or ready phone access. I know many people who have chosen to go with lenders that for example are owned by or have association with a bank, offer cheaper interest rates but have no presence, or in fact customer service at all other than if you are able to contact one of their 'junior' staff on the phone . A good broker will be worthwhile if you are in property for the long term, and should offer you assistance with structuring your loan correctly, showing you long term options and ways you can use loan splits etc and oeven how something like direct salary crediting may suit you, and save you $$$ in real terms. The loan product offered  may have a slightly higher interest rate – but will truly save you money long term if used correctly over a basic cheapy loan. It is really up to you. All the best with what you decide. …..

Yes, it is a pathetic system in NSW. Many people use the cooling off period after contracts exchange to organise inspections etc, which of course does not leave much time. And you could spent a ton before getting all your due dilligence done, and then it gets sold to someone else. A lot of it is due to the large percentage of shonky real estate agents too, but one of the better ways to minimize an agent peeing in the vendors pocket and telling them to 'accept' other buyers offers is to be confident in your discussions that you have finance preapproved (which I would recommend anyway in NSW) and come across as a genuine and confident buyer. That will minimise you being 'gazumped'. All the best.  Why not buy in Vic, SA or Tassie as a sidepoint?

Hi Stera. Sounds like an exciting time for you both – congratulations. If I had only one thing to say to someone it would be this very important point – (fact actually)  The cheapest interest rate is not necessarily the best loan. You have obviously worked very hard to save and get in the position you have, so who is to say what you may plan to do in the next few years? A loan product that has no monthly fees, allows for you to 'split' it into a few different parts (ie, one as fixed interest, one as variable, and one as a Line of credit to use down the track for other investment purposes – Example only!!!!!) and perhaps allows you to direct salary credit may be what you need. You will find down the track you will be able to use your home to perhaps fund other personal and or investment expenses down the track so flexibility is important in this scenario. Enjoy your new home – all the best.

Hi pyscho (!) 10k for a new kitchen? And still whingey? Couple of things – with out a doubt, when your lease expires do not offer to renew. Get rid of them as soon as you can, and not a moment later. There are indeed tons of nice families queing up tio rent a nice property.  And the 8 to 11% a property manager will charge you will genuinely save you a heap of heartache and anxiety if they do their job half properly. Get one. Sounds like a nice house, but honestly, it sounds like your tennant will need to move somewhere else before they appreciate what they had. I think that picture of the cow tells us what you're going to do now does'nt it? all the best.

Sorry Suffragette, but unless it is a pretty special property, this simply means you are paying too much. If you feel the incomplete renevation is the problem, is it possible to extend the contract date, and then get another val done when all the work is finished? Will your friend sell 'as is' now without finsihing the work at the price the val came in at? A few options – if a friend, you would hope they would understand eh? All the best. Incidently, how much deposit did you pay? Might be cheaper to walk away if you cannot either of these ideas or any of the others to work out. Hey, all the best though……

Good on you for planning ahead. However make sure before you sell up you think of the following little sentance – 'Its hard to arrive at your destination unless you know where you are going'.  If that is all taken care of, I don't know about high rise apartments, but good old 'Unzud' does seem to have steady growth, and the biggest advantage of course is NO STAMP DUTY!  (Just calculate stamp  duty  on 1.8 mill of property in Aust and you will see what I mean)   You would have to have the property capital value increase  by a much larger percentage here than in NZ to make up for the usual tens of thousands of dollars the government rapes form both home buyers and investors in stamp duty. Don't rush into anything, but your idea sounds good. All the best with your journey.

Looks like we all miss this feature, but explain it a bit differently. What do you reckon Steve? Can you give us back that Active Forum search option, with posts since last visit, and show who has posted? Could be perfecto with that done (almost!)

FHOG is a great provision for first home owners – not investors. (and there are plenty trying to rort the system)  However that said, scanario A – You  must move into your home and live in it for a period 6 consecutive months within the first 12 months of purchase price.  (generally -depends on state – some where 6 mths) Sceanario B If it was an unofficial arrangement for board, it is between you and the boarder only, if you are not claiming deductions and declaring rental income etc, and of course you would have no lease etc. (Such as someone living with you and giving you a donation towards expenses etc) All the details ar very clear at the following site, and you can then search state specific.  http://www.firsthome.gov.au/ All the best with your new home.

Not a lot at this point. The 'active topics since last visit' option appears to have gone awol, plus I have been 'demoted' to around half of my forum posts.  I bet Terry has had them added onto his………Still, sometimes I don't feel very important anyway …..It is a bit harder to navigate, but I guess we'll see how used to it we get.  Can always go elswhere I guess….