Home Buying Terms to Know (Part 1)

Buying your first home is a big undertaking in itself and not
knowing the common terms in property is sure to make your journey
a lot more difficult than it should be.


In the first episode of this two-part series, we’re going to give
you a real estate user’s guide by interpreting a whole bunch of
the commonly used terms so that you don’t feel you’re trying to
understand a foreign language. 


There’s a whole lot of things to cover so let’s get into it and
we’ll see you on the inside!


 


Episode Highlights:
What are the types of Real Estate Agents and what do they do?
[02:08] Be aware of Property Spruikers
[04:50] Conveyancers focus on property matters
[07:03]  What is a Lenders Mortgage Insurance
(LMI) & who does it benefit? [09:19] ‘Equity’
sounds cool, but what is it exactly? [11:01] Stamp
Duty or Transfer Duty [11:54] A look into Land Tax
& Unimproved Land [12:53] What are Purchasing
Costs? [15:44] Explaining ‘Offset Accounts’
[16:54] Redraws [17:44] 
What the hell is ‘Loan Structure’? [18:52]
Understanding Leverage [20:55] Defining Capital
Growth [21:41] Capital Gains
[24:37] What is Capital Gains Tax (or CGT)?
[25:26] Looking at Capital Gains Tax Concession
[26:57] Negative Gearing [28:13]
Depreciation [30:28]

 


Link/s from the show:


Jargon and Terminology (PDF)



 


Connect With Us:


Home Buyer Academy Website
(https://www.homebuyeracademy.com.au/)



 


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along with us on this journey!


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