There’s been a delay in realizing that we gave this shiny fun thing and it seemed really cool and now we’re going, oh dear.
It’s little wonder that Australians are increasingly deciding to delay what is often a confrontational negotiation but doing so can come at a cost. Often there are good. "I think the lesson is that.
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When considering a leasehold purchase, it’s important to understand that what you are buying is a lease, which is the right to occupy the property for a specified length of time (albeit a period of time that you can extend), you are not actually buying the property itself.
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Spending binge fears ease as borrowing hits the brakes The credit card binge comes on top of Australia’s home borrowing boom. Over the past four years, housing debt has almost doubled to 3.6 billion. total household debt is now equivalent to around.
The article above also talks of sellers/buyers being surprised at costs from the freeholder. Well my silly lawyer friends it’s because you probably said nothing about it up front, that is why. You quoted lower to get the job then added all the fees that you surely must have known were going to be added, later on.
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Long leaseholds – it doesn’t have to be a deal breaker. There has been a lot of press coverage this year about the rise in the number of new residential builds that are being sold as leaseholds, in many cases unbeknown to the purchasers.
Whether you are the landlord or the tenant, you need to know the leasehold rules. New developments increase your ability to write off leasehold improvements at the end of the lease term and allow you to use much shorter depreciation periods. Not knowing the rules is not an option, unless you want to throw money in the trash can.