Want to help your kids buy property? Here’s how...

The real estate market can be tough for young adults, but as a parent you may be able to lend a helping hand. We tell you how. 1. Parent-to-child loan A parent-to-child loan is when a parent lends their child money. This is a formal, legally binding arrangement, administered by an independent third party. At the start of the loan period, both parties agree to terms including repayment amounts, a schedule and a process to manage defaults. Benefits: You can set generous terms for your child, but your assets, savings and credit rating are somewhat protected as you are not the borrower. Drawbacks: There are legal implications for your child if they have a spouse and the relationship breaks down,

Should you live in your house while you renovate?

It can be tempting to stay in your home when you’re renovating, rather than spending money on rent. But is it really a good idea? Consider the pros and cons before you make a decision. Advantages of staying in your home You’ll keep your creature comforts and sleep at the same address, but what are the real advantages of living in the middle of a renovation? Save money The expense of moving out of your home while you renovate can be significant. You may also need to rent another property or stay at a hotel. Living in your own house keeps more money in your bank account. Monitor progress Being in the middle of your renovation lets you keep a close eye on how it’s going. You can see where pr

Herron Todd White - Month in Review May

Our over-eager abundance of aspirational genes is on high alert when someone begins to talk about the plush property sector and the lavish inclusions that come with spending an extraordinary amount of dosh on the world’s finest real estate. For example, in 1984, smash hit US show Lifestyle of the Rich and Famous was filled to the brim with eye candy real estate that caused viewers to cry champagne tears. More recently across the pond, the Candy Brothers of London were driving the expensive digs market with projects like One Hyde Park boasting apartment sales in the order of $A250 million. These were reported to include all sorts of features like eel-skin wall paper and a virtual golf cou

Buying property with other people: mine, yours or ours?

When people buy property together, particularly if it’s with a partner or spouse, they often register the title in both people’s names – especially if they’re going to live in the property. But other arrangements are possible, several friends might opt to own individual shares in a property, for example, or a couple might choose to have only one of their names on an investment property title. The following information provides you with a good starting point to help you on your way. Also tax legislation and other Australian laws governing property ownership and investment are complex, so seek proper legal and financial advice before entering into any arrangement. Joint-ownership titles The t

RBA Interest Rate Decision May 2018

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. The global economy has strengthened over the past year. A number of advanced economies are growing at an above-trend rate and unemployment rates are low. The Chinese economy continues to grow solidly, with the authorities paying increased attention to the risks in the financial sector and the sustainability of growth. Globally, inflation remains low, although it has increased in some economies and further increases are expected given the tight labour markets. As conditions have improved in the global economy, a number of central banks have withdrawn some monetary stimulus and further steps in this dire

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