September 2016

Capital Gains Tax and selling your home: When is it exempt?

Capital Gains Tax and selling your home: When is it exempt?

Amanda Scali   29/09/2016 12:00am

A cause for anxiety in some homeowners is the relationship between Capital Gains Tax (CGT) and selling your home, especially when you're selling within the first year of ownership.

If your life has changed dramatically in the not quite a year since you bought your current home and you now need to sell up, one of your worries may be whether you will be obligated to pay CGT on the sale of your property.

It is not necessarily the case that you will be up for CGT, it depends on whether your home meets the Australian Taxation Office’s (ATO) definition of a "main residence".

How do I know if the price is right? McGrath Real Estate tips on setting your house sale price

How do I know if the price is right? McGrath Real Estate tips on setting your house sale price

Amanda Scali   22/09/2016 12:00am

When the time comes for you to sell your property and move on, how will you go about setting your house sale price?

For example, will other people see the value you do in the home you have loved?

There will be many choices you will need to make on the way to arriving at your final figure, and many of them will be soul-searching.

This is because the price you put on your property will be one of the most critical decisions you will make—too high and you will deter prospective buyers; too low and you risk forgoing potential capital gains.

Fortunately, you have a great source of information at your disposal, your experienced local real estate agent.

It is said that knowledge is power, but knowledge can also provide peace of mind when you’re making life’s big decisions.

Should I sell my house for less than I paid for it? What you need to know

Should I sell my house for less than I paid for it? What you need to know

Amanda Scali   15/09/2016 12:00am

You might think the decision to sell my house for less than I paid for it is one you will never have to make. But sadly, there might come a day when you need to consider this action.

In Australia, there is an expectation that property will always appreciate and, therefore, buying ‘bricks and mortar’ will always be a safe place to put your money.

Global financial crises notwithstanding and depending on how long you have owned it, you can reasonably expect to sell your well-maintained home for more than you paid for it, with some caveats.

If you are unfortunate enough to find yourself receiving valuations or offers for your home of less than you paid for it, it’s time to take stock of the situation and act to make the best of it.

What happens when I sell my house? McGrath Real Estate insights for first-time sellers

What happens when I sell my house? McGrath Real Estate insights for first-time sellers

Amanda Scali   8/09/2016 12:00am

What happens when I sell my house is an important question to ask because selling your home for the first time (or for the first time in a long time) is often an exciting and emotional experience.

But it doesn’t have to be a scary one.

At McGrath Real Estate we set our newbie vendors at ease by demystifying the whole sale process—even though it’s a first for you, you can be confident in our decades of experience in property sales.

Scentsational tips for selling your home: Real estate and the power of smell

Scentsational tips for selling your home: Real estate and the power of smell

Amanda Scali   1/09/2016 12:00am

Real estate and the power of smell are two elements that need to be handled by professionals because very powerful forces are at play.

You'll understand the power that scent wields if ever you've walked past a sausage sizzle and, even though you weren’t hungry, succumbed to the irresistible smell of barbecuing sausages and frying onions!

That distinctive scent wafting on the breeze awakens your memories of past enjoyment of a hot snag in a slice of fresh bread.

Other smells—like that of freshly cut grass or of the air after a summer storm—can bring to mind happy memories from other times and lift your mood.