🧾 LAND TAX: the hidden holding cost.
We all cheer price growth… then the land tax bill lands.
Key takeaways from Ep. 1525:
• Threshold: ~$1.075m (NSW).
• Rate: ~1.6% above the threshold.
• Examples: freestanding site LV ~$1.71m ≈ ~$27k/yr; strata unit LV ~$185k ≈ ~$2.9k/yr (if over threshold); larger block LV ~$2.85m ≈ ~$45.6k/yr.
• Strategy: strata can massively dilute land value; always check the Valuer General land value, not sale price.
🎯 Action: run the land tax numbers before you buy.
#MorningMinutes #LandTax #NSWProperty #PropertyInvesting #NorthernBeaches

🏛️ Heritage in property: blessing or burden?

From facades in the city to iconic Harry Seidler homes on the beaches — heritage can inspire, but it can also restrict.

✅ The good:

• Preserves history, architecture & culture
• Adds unique character & value when respected

⚠️ The challenges:

• Expensive restorations (even paint colours are regulated)
• Heritage controls can extend inside the home, not just the façade
• Even rocks and landscapes can be protected!

👉 Whether you’re buying, selling, or renting, always check heritage status before signing.

Would you live in a heritage-listed home?

#HeritageHomes #RealEstateTalk #NovakProperties #PropertyTips

🎉 1st of October = Christmas morning for first home buyers 🏡

From today, you can buy with just a 5% deposit (up to $1.5M) thanks to the new federal scheme. The gov’t covers the remaining 15% normally required for mortgage insurance ✅

💰 Why it matters:

• No $20–40K lender’s mortgage insurance 💸
• Entry costs drop from ~$300K to ~$100K on a $1.2M unit
• More buyers entering = more competition

📈 Expect:
✔️ Sub-$1.5M properties to rise
✔️ Knock-on effects into higher brackets
✔️ Units + smaller homes benefiting too

But here’s the catch: buyers weren’t exactly lining up at midnight. The buzz is louder than the bite… for now.