Property Newbie.

Discussion in 'Introductions' started by Dinkar, 15th Jun, 2019.

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  1. Dinkar

    Dinkar New Member

    Joined:
    15th Jun, 2019
    Posts:
    1
    Location:
    Melbourne
    Hello everyone,
    I am living and working in Melbourne and looking to buy my first property now. In current situation I have a few questions:
    1. As a first buyer what are the usual catch situations/pitfalls that I should be aware of?
    2. What are the must checks that I should do before I sign an offer and between offer and settlement?
    3.Myself and my wife both have jobs in the eastern suburbs and looking to buy a house in western part. Therefore to avoid commute we want to continue renting closer to our work places. Is it possible to claim stamp duty exemption citing our current situation since the sro website says that exceptions can be made in some cases.
    4. Is it true that we can start living in the new house anytime within 12 months of settlement? It could be that we move into new place in the 12th month after settlement.
    5. With all the doom gloom talks about the property market and economy in the hind sight, is it still a good option to invest in property. If yes, what is best time to get in.

    Thank you and have a great day.
     
  2. FHB_Syd

    FHB_Syd New Member

    Joined:
    25th May, 2019
    Posts:
    3
    Location:
    Syd
    Do your own research .. dont take any advice on face value .. Most of the so called "experts/economists/PHD scholars" quoted in the mainstream media/ social media/ forums or elsewhere are directly or indirectly employed/ financed with the Banks, Property Agencies and finance industry.
     
  3. KateAshmor

    KateAshmor Victorian Conveyancing Lawyer Business Member

    Joined:
    25th Jun, 2015
    Posts:
    711
    Location:
    Melbourne
  4. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,599
    Location:
    Gold Coast (Australia Wide)
    Hi Dinkar

    Good questions.

    the stamps exemption is there for owner occupiers ..

    Not my area of expertise, but I would hope that buying in one part of town, while working in another isnt an acceptable loophole.

    ta
    rolf
     

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