Here at JPLegal we value our clients and referral partners and express our sincere thanks for entrusting us to be of service throughout the past year. We appreciate your business and look forward to your continued trust and confidence as we work hard to deliver excellent legal services. We take this opportunity to wish you and yours a very happy, peaceful and prosperous Christmas and New Year.
Your Off The Plan Purchase And Finances
Purchasing a home off the plan can be advantageous in terms of the savings on stamp duty. It is possible to purchase your home at a price generally less than market value and have sufficient time to save additional funds after having entered the contract.
However, with extensive sunset clauses, it is important that your finances are in order.
Here are three tips to set you up for financial success –
- Ensure you have a sufficient deposit by the time settlement approaches. You need to be confident that you will have adequate funds to proceed with the purchase in the event that your lender’s valuation of the property is lower than expected.
- Keep in contact with your lender. If your property has not settled when anticipated, contact your lender to update them on your financial circumstance to renew your application so that you are in a position to settle within a short time frame.
- Create a comprehensive budget for your new home. Account for the purchase price, stamp duty, registration fees legal costs, bank fees and adjustments for council and water rates.
If you have any further questions, please contact us for afree consultation.
Article written by Vanessa Bozinoska, Lawyer, vbozinoska@jplegal.
Refresh Your Financial Plan For The New Year
2018 is a mere few weeks away. Now is the perfect time start thinking about your financial goals for the new year. It is time to get serious about becoming financially free!
Here are 5 Key Steps to enhance your financial position in 2018!
Stop Passive Spending, Start Passive Investing
- Look at strategies such as salary sacrifice into your superannuation. Reduce tax and maximise growth with the best bang for your buck structure available.
- Start investing in shares and property.
Strategise Your Superannuation
- Explore alternatives to off the shelf products that are at the mercy of a heavily volatile share market
- It is also important to ensure you’re invested in asset classes you’re comfortable with.
Cash Is No Longer King
- Currently, poor returns on Term Deposits are hurting investors and retirees. There are effective alternatives which are also low on risk.
Protect Your Wealth & Your Family
- Ensure all Life, TPD, Income Protection and Trauma insurance covers are adequate for your position and structured in the most tax effective manner for your income.
Are You On Track To Achieving Your Retirement Goal
- The asset base required (outside of owning a family home) to attain a 50k tax-free net income in retirement will be 1.5m in 20 years. Are you on track?
In conjunction with JPLegal we are here to help you achieve your financial and lifestyle goals.
We would like to congratulate our property Lawyer Amanda and her husband Kaiz on the safe arrival of their baby boy Magnus Karim Zaman on the 12th of October 2017.
JPLegal @ Elia Tavern
This recent addition to Burgundy street elevates greek food above and beyond the humble souvlaki. The word Elia translates to ‘olive’ or ‘olive tree’ or a place where friends gather. The menu focuses on traditional Greek food and the dining room is a relaxed and contemporary space. This restaurant is part of the diversity of cuisines that are transforming our local area into a foodie haven. You can check them out on social media or their website for more information.
Our Heidelberg office will close at 1pm on Friday the 22nd of December 2017 and reopen on Monday the 8th of January 2018. Our lawyers will have remote internet access to all current files to ensure that all matters continue to be attended to in a timely manner.
Thank you for your continued support.