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Property Market Report July 2009:

“Selling & Buying in The Same Market - Makes Dollars & Sense!”

Selling a property is a significant, often life-changing financial transaction. It requires a sound understanding of both the required processes and the property market and its cycles. Selling involves accurate pricing, legal documentation, an advertising campaign, open day inspections, negotiations, and a legal settlement with the assistance of a solicitor or conveyancer. Experience shows that this process is best facilitated by a Real Estate Agent expert in securing both your legal protection and the highest possible price..

“Buyers and sellers naturally have the key decision-making role in the process,” says Tony Triglone of Elders Crows Nest. “They are advised to become as informed as possible about the property market.” With that in mind, Elders Real Estate recently released its National Residential Property Index, 2009. The comprehensive, informative booklet is FREE, written in easy-to-understand, layman’s terms, and provides a clear picture of the NSW property market – and the bigger picture. A free copy is available from Elders Crows Nest – call Tony Triglone, Sales Manager on: 9901 3333.

For information on buying or selling contact Tony Triglone at Elders Real Estate Crows Nest on: Ph: 9901 3333.

Brown & Brown e-Newsletter
by Garth Brown


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"TIPS ON BUDGETING"

Whether you are saving a deposit for a home or you are ready to buy now, a budget is a great tool for finding out where your ‘spending leaks’ are and how you can save more money. Every person can benefit from doing a simple budget. The more you know about your INCOMINGS and OUTGOINGS, the more control you have over your finances.

STEP 1 - INCOMINGS
Start by making a list of all your ‘INCOMINGS’.
• Include your Salary
• Bank interest
• Rental properties
• Dividends
• And any other money that comes in
If it’s easier you might want to work it out on a YEARLY amount and then simply divide into 12 for your Monthly Incomings. And don’t forget to make it AFTER TAX, particularly when you are considering your salary. home.

STEP 2 - OUTGOINGS
Next step is to work out your ‘OUTGOINGS’. And this is the trick to a budget.
First start with your ‘big picture’ outgoings.
• Rent or Mortgage
• Rates: Water/Land
• Credit Card payments
• School Fees
• Utilities: Electricity/Gas/Telephone
• Food Bills
• Motor Vehicle expenses: Lease, R & M, and Petrol

Again you might want to make this a Yearly figure and divide by 12 to get your average Monthly Outgoings.

These major outgoings are generally a good starting point, and will show you how much is left after you deduct the Outgoings from the Incomings to reveal your average monthly ‘DISPOSABLE INCOME’.

However you also have to consider what you spend on Clothes and Shoes, School Uniforms, Club Memberships, the amount you spend on Toys or Gadgets, Presents, Eating out, Entertainment incl Pay TV/Videos, and so on. It all adds up.

To get a fuller picture of what goes out try keeping a ‘SPENDING DIARY’ for a month. We guarantee it will throw up a few surprise ‘leaks’ in your financial bucket!

Just one example: if you buy coffee and toast at work every morning costing $5 per day, over a year that could add up to $1,300.00

Or if you miss a payment on your credit card and get charged additional interest or a late fee, that will really add up over the year. Something as simple as making the payment on time by direct debit, or making your breakfast at home can save you literally thousands of dollars per year.

With very little sacrifice on your part, why not make today the day you start to work out your own budget. Think of the home you could put all that extra money towards!

When you start planning make use of calculators that show what your repayments would be per month on a certain loan figure. And when you’re ready shop around for the loan that suits your lifestyle but always factor in the possibility of interest rate increases, and ask yourself “could you still afford to make your repayments at a higher interest rate?”

Saving is not “rocket science” but it does take conscious effort and a plan of “how to”. Some people put all their small change in a money box each day and bank it when it’s full, others set aside a certain amount per week in a special savings account. Set goals and your savings will grow. Whatever method you use make it a habit and stick to it, the end result will be worth the effort.

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Thank you again for your valued custom.

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Our next eNewsletter will feature:

“Glossary of terms used in Buying and selling a Property” – September 2009

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