Additional Property advice points from Lysippe Rivalland about buying Property



Dear News Of The Area,

I REFER to Denise Haynes’ advice to the prospective buyer (News Of The Area “Market Advice” edition 10 January 2019) and wish to comment as follows:

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The seven points you gave are all valid but it seems to me that the advice comes from the point of view of a real estate agent. Or am I wrong? Although I am not a practising real estate person I am fully qualified in that area. I am also a qualified accountant and work for the State government.

I have some additional important points to cover if a prospective buyer is to make an informed decision regarding starting up in the property market.

Is he/she buying as an owner/occupier or as an owner/investor?. Is he/she aware of negative gearing and capital gains tax implications and Is he/she aware that the current laws might change come the next elections?

The advice on a budget should also make the buyer aware that interest rate, although currently very low (and it has been for many years), could go up at any time. Is he/she prepared for such eventuality?

I just wanted to add to the points you raised.

Lysippe Rivalland
Nelson Bay

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