THE BYRON SHIRE
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Coalition’s ‘one-stop-shop’ plan a green light for investment, says Property Council The Abbott government’s plan to streamline environmental approvals will end the needless costs and delays hampering development across Australia, according to the Property Council of Australia.
mental protection will unlock investment to deliver the homes, workplaces and public infrastructure needed to drive Australia’s economic recovery.
‘The onus is now on the state premiers to Property Council’s Caryn Kakas welcomed take up Minister Hunt’s offer and partner with the framework for establishing a ‘one-stop the federal government to establish one-stop shop’ for environment approvals in every state, shops in their own states. calling it real action to boost productivity. ‘Queensland has already led the charge by ‘Minister Hunt’s framework creates genuine opportunities for state and federal govern- signing a memorandum of understanding ments to cut red tape and get investment flow- with the federal government last month – now it’s time for the other states to follow suit. ing,’ Ms Kakas said. ‘The Property Council applauds the federal ‘Enshrining high environmental standards as part of the bilateral process is a win-win for government and looks forward to partnering the economy and the environment. with all nine governments to implement this ‘This commonsense approach to environ- important reform,’ Ms Kakas concluded.
Are you ready to buy a home? to review your household budget. Take what you’ve saved as a deposit, add in first home buyer assistance (if applicable), then work out how much you can afford to borrow. Work out how much you can comfortably afford to repay on a home loan each month, and add a bit more to act as a buffer in case of interest rate rises. Include all the costs that come with home ownership: upfront costs like stamp duty and legal fees, ongoing costs like land and water rates, house and contents insurance, and repairs. One of the bigger upfront costs you may have to pay is stamp duty or transfer duty on your property. Find out how much you will need to pay using the calculator at the NSW Office of State Revenue: http://www.osr.nsw.gov.au/taxes/transfer_land/ calculator/. – Tips from www.moneysmart.gov.au, where you can find budget planners and mortgage calculators.
You are ready to become a homeowner if you have the following things in place: A substantial deposit. The bigger the better when you’re saving for a home. As a rough guide, aim to save 20 per cent of the purchase price plus enough to cover costs. A regular savings habit. A solid track record of employment and a history of regular savings in your bank account will make it easier for you to get a home loan. Compare a few different loans before you decide. Ask your lender for a key facts sheet on each home loan so you can compare more easily. Once you pick the loan you’ll know what the repayments will be and how much you can afford to spend on a property. Some additional savings: these will act as a buffer if interest rates rise and your repayments increase. How much can you afford? A good way to find out how much you can afford to spend on a property is
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38 October 22, 2013 The Byron Shire Echo
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