buying first home in Sydney area

sydney central business district, the finest harbour in the world

Sydney, New South Wales is one of the most affordable metropolitan cities in Australia for buying a home. As a result, it attracts many of Australian’s first time home buyers. If you’re one of the many home buyers in this category, here are some tips to help make your first home investment successful.



1) Take advantage of the $20,000 tax credit and federal subsidy! it is a lot of money to most people, but for first time home buyers this amount of savings can really make a difference on a lower scaled budget.

2) Think about resale down the road. Usually the first home or apartment you buy is just the first home you buy. You’re probably not planning on spending the rest of your life in this home, so it’s especially important for first time buyers to choose a home that will have good resale value down the road. Whether you plan on staying in your first home 3 years or 10 years, you’ll want to have a home that will appeals to future buyers. Doing this will not only ensure that you can sell your home in the future, but it will also bring a higher price when it comes time to sell. Talk with your Real estate agent about which suburb neighborhoods have performed well over the past five years as far as home sales are concerned. Off course Pennant hills or hornsby area would be much differ than Botany bay or Marrickville with busy airport, industrial area and other. Coastal suburb such as bondi, San Souci, Watson bay or cronulla would be differ than western suburb such as mount druitt, campbell town or cabramatta.

balmoral beach, a fine Sydney suburb with magnificent ocean view

3) Get pre-approved before you go look at homes. Buyers who already have a mortgage may have a good idea about what price range they should be looking in. However, if you’re a first time home buyer, there is really no way to determine this unless you talk with a lender. You may get approved for $80K or $150K. And, in Suburban area, that’s the difference between a condo and a house! It’s important to know how much money you’ll be approved for before you go look at homes. You don’t want to find the perfect house and then find out that you can’t actually buy it. Also, many buyers think that they have to use a mortgage lender who is located in the Sydney area. This is not the case. You can use any lender such st george building trust that you trust (and if you’re not sure where to start, your Realtor should be able to recommend good lenders for you to contact).



4) Don’t overextend yourself! If you currently rent a home, figure out how much you spend every month in the rent and bills. Remember that when you own a home, you’re not only responsible for the mortgage payments and regular bills, but also taxes, insurance, and other fees. The taxes and insurance will be based on your home value. The HOA completely depends on which neighborhood you choose and the amenities that it offers. The good news is that you’ll know all of these amounts before you close on your home. Be sure to talk with your lender about how much you want to spend in your monthly payments and also whether you want taxes and insurance included in that monthly mortgage payment. Also, talk with your Realtor about these costs. He or she can recommend contacts for insurance so that you can shop around and get the best rate. Your Realtor can also get HOA estimates so that you’ll know how much a neighborhood costs, so to speak, when you’re driving around and comparing these.

2 Horrible Mistakes in an At-Home Business

With the current economy, and jobs being dropped just about in every industry, its hard to think about anything other than how we're going to keep funds coming into our bank accounts. The government can't support everyone, and so, that means we all need to start looking for a reasonable way to stay afloat. An at home business opportunity might be that very thing.

However, before jumping right into the next at home business opportunity you see, I want to save you from a few mistakes that might occur.

Being in the at home business industry for a little while now, I have realized that not every at home business opportunity is the right one for me, and rather, for you as well. Here are 2 of the many critical mistakes to avoid:

1.Un-Original Product: Why promote an opportunity that can be found in your local store? It makes no sense. Most of the time these at home business opportunity companies promote products that are over-priced and very unoriginal. I'm not saying there aren't any original products available, I'm just saying.. watch out before you get sucked into a product that isn't going to sell. Sure, you Aunty or Grandpa might buy it, but thats probably because they're being nice. Research Research Research.

2.Low Compensation: What are the profits of each sale? Think of it like this, if you're going to promote something, you want to get paid BIG for it. If you're going to invest in marketing and promoting something, wouldn't it rather be on something that's going to give you HUGE upfront commissions? I'm not talking about a measly $15 dollar upfront commissions, I'm talking about $800-$3000 upfront commissions. This is where the REAL money is made, the type that will pay all your bills, and maybe even let you quit your 9-5 job. Get serious and research the pay plan very carefully.

There are so many at home business opportunity tips to make you thousands, or even MILLIONS of dollars if you desire. source: free articles

Plan Your Business Financing

Most businesses start out thinking the first thing they need is a great business plan. The popular myth is that potential lenders will place great stock in your business plan as a major consideration for approving the financing you need.

While a well written business plan will assist you when you are seeking financing, it is far down on the lenders list behind things such as your business management teams experience, your past business successes and your lending character. Having a plan for accessing the business capital you need to execute your business plan is what is required to bring your business success. Not having a viable business financing plan is the direct cause of why 90% of all new businesses fail.

Your lending character means the lender sees you having the ability and stability to repay the loan. They also ask how far they believe you can take the business to maximize the potential earnings and therefore their chances of getting repaid.

The first thing a lender is going to look at is how did you structure the business and were you responsible and knowledgeable in that. Are you Incorporated or an LLC? If not you are declined for a business loan and everything becomes based solely on you as an individual. Did you do your EIN, State, business licenses and bank filings correctly? If not, you are declined because a lender requires attention to detail.

A simple business credit report check by a lender will quickly show whether or not you are even in the ballpark for getting approved for financing. If the lender finds that you have not bothered to insure that your business has active reports with all three major business credit reporting agencies, then of course you are immediately declined.

Next, the lender will look at the character of your business credit reports. What do they say about your business? What kind of payment histories have you had with debts that are easy to get such as vendor trade lines, small business credit cards, equipment leases, etc? If your business has no credit history or very minimal history then no lender will even consider your business for a larger loan when you have no track record of paying smaller debts.

If you pass these simple tests, now a lender will get to the heart of you business loan application and it is only at this point that you even get the opportunity to present your funding request. Unfortunately as high as 90 percent of all business loan applications never get to this point, because most business owners never take the time to complete the initial steps.

So you have made it this far, The next question you need to ask is what is a lender going to want to see? Debt service! Here is where the lender finally looks at your business plan, or at least the financial pat of it, to determine if your business can debt service the loan. To make this determination a lender will test the reality of your numbers. Basically this means do your numbers add up and do they make sense.

If you do not know anything about accounting you had better get help. When a lender looks at your projected financial statement and finds simple accounting errors, then in most cases you will again be declined. They do not want to lend money to someone who cannot produce a simple proof and loss statement; or someone that cannot balance a balance sheet. There is a lot of help out there, get some.

Next, a lender will look at the market niche section of your business plan. While most business owners think that this is the place that sets them apart from the competition, it actually is the part where lenders will compare you to your competition. Here is where lenders must see that you have done you market research. Can the revenue claims that you are making in your financial projections be backed up by the actual market demographics for your specific business industry, location, customer base, etc.? It essentially comes down to the need for your product or service.

All of this can seem overwhelming and in truth it can be. It is the reason that 97 percent of all business loan applications get declined. The overriding reason is that business owners are not taught this in school and typically only gain this knowledge through years of brutal experience that normally includes having one or two failed businesses under their belts.

This will give you plenty of information to get you started on putting together a business funding request.

Source: Free Articles

Starting A Home Based Business? - Avoid These 6 Costly Blunders

A lot of people would like to start an internet home based business. However, many people do not know where to start.

Starting a home based business can be overwhelming and confusing for the inexperienced. The fact that there are a lot of 'business opportunities' on the internet does not make it any easier.

You can easily succeed with your home based business if you just avoid some common mistakes which people make.

So what are some of the common mistakes that people who are starting a home based business usually make?

? No Plans & objectives. A lot of people start their business with no plans, and this is a very costly mistake. It is important to take the necessary time and effort to plan the business and clearly state the objectives you intend to achieve. Some people start their home based business like a hobby and treat it like one. Do not expect to make millions with your online home based business if you treat it like a hobby.

? Reinventing the wheel. Some people starting a home based business make their learning curves very hard and long. The internet is full of proven money making business models. You can succeed easily by identifying the business type that you would like to have your home based business focused on, try to find someone who has succeeded with that business and learn from them, and duplicate what they have done to succeed. It is also important to have the necessary support network, which can be a relevant forum where you can learn more about running your home based business successfully.

? Thinking that you can make money overnight. This is a common misconception which people have, which is also the reason why many people fail and give up easily. Your online home based business is like any other business - you will need to apply the necessary effort and dedication to make it work.

? Believing that your online home based business doesn't need any capital. This is another very common misconception. If you think you can start and develop a home based business without spending a dime, you are misleading yourself. Be prepared to spend some money to get all the resources you will need to develop your business. Although it varies with the type of the home based business you want to set up, you would need some initial resources that you have to invest in the business. This can be for setting up your website, just as an example. You may also need to buy some resources to make your online home based business fully set up.

? No market study before creating a product or starting the business. Yet another very common mistake. For your home based business to succeed, you will need to have a market for whatever you will be offering. Demand for your products is the most important factor that determines the success of your home based business. A market study on the current market size and future potential of the product or service is therefore very important.

? Lacking focus and commitment. Your online business will need a lot of effort for it to succeed, especially during the first two years. You must therefore be prepared to give your business your total commitment.

If you avoid the 6 mistakes outline above, you will succeed with your home based business.

What You Will Need To Start A Successful Business

Starting a home business is a very important decision, and there are some typical home business resources you will need to have in order for you to succeed. Home business resources are assets, services and systems you will need to make your home business run smoothly; and also other steps you will need to take to make sure that you will succeed with your business.

So, to start a successful home business, what resources and steps do you need to take?

? A clearly laid out business plan. Without a business plan and goals to achieve, then you can not get anywhere. A business plan will map out what you need to succeed and how you will achieve your goals.

? Good research. Whatever your business will need, you will need to be well informed about it. So you will need to do me research so that you become an expert on the niche, product or service. Knowledge about the business is an important home business resource, so you must do the necessary research to be well-informed about the industry or product/service.

? A well set-up office. Your office is another important home business resource. You will need to be productive while working from home. You will therefore need an office that has all you will need to run a smooth business; a computer, printer, internet access, fax, telephone, business cards and a conducive work environment. A suitable desk and appropriate lighting in your office is also an important resource that is often underestimated in its importance. You will sometimes work for many hours in a day, and your work space needs to be comfortable. Allocate some money towards setting up a working environment you will enjoy working from everyday!

? Some money to cover capital outlay and running costs is an important home business resource which you will need. Any business requires some form of investment, and you will need to know how much you have, and how much investments and ongoing marketing your business will need for it to succeed. It is therefore recommended that you start your business while you are still employed, so that you have some income to live on while you are still building your business.

? Support system. This can be a mentor; someone who has succeeded with a similar business, or simply your family and friends. You need to have people close to you who will encourage you and give you any support you need. You can also join a forum of people with the same business like yours. A good support network is a very important home business resource.

? Business leads and clients are a crucial home business resource. Making and creating contacts and networking is very important - you need to start building your potential clients base before you launch your business. Start marketing your business by giving away some products and services. By creating a relationship with your potential customers, you build trust with them, and when you launch your business, it will be easy for them to buy from you.

? Be professional! The way you run your business and relate to your customers is very important. Be prepared to 'go the extra mile' with your customers. Care about your customers, and provide all the information they may need.

? Hire any professional help you may need. Treat your business professionally, and if you need the services of a lawyer or accountant, hire/outsource it. It is more productive and effective to get experts to do what you can not do, leaving you time to focus on your business. You will want to do the best for your business; so if there are any home business resources you do not have, outsource them.

If you have the home business resources outlined above, then your business will succeed. Although your home business may only be a small venture, treat it like a real business, and get all the home business resources any business will need in order to be successful.
by: Jeff Casmer, an award winning internet marketing consultant

Starting a Home Business Using the Internet

Starting a home business I not an easy task and to make things harder there are so many myths attached to starting a home business that it can become quite confusing. Some people get an idea in their head and just take off. Starting a business for them is easy. The majority of people, however, end up having the desire to start a home business before the actual business idea comes to them. Once they begin thinking about actually starting a home based business they are overcome with many myths that make it seem next to impossible to succeed.

One of the biggest myths about starting a home business is associated with the internet. The internet has opened many doors to home business owners, but at the same time the complexity of the internet has caused many to give up and abandon hope that they can ever get a business to be successful. Many people believe that the internet is a vast marketplace that is too he to compete in. That is simply not true. There are many small home businesses that are doing great on the internet. It is all a matter of knowing how to run a business website. A person has to understand about marketing and setting up a website. Once they've established their online presence they can make great money.

Another internet related myth about starting a home business is that there is no help available for the business owner. Anyone who has went to a search engine and typed in business will now this is not true. There are online networks of websites that are all aimed at helping people succeed in internet business. These people offer free information and plenty of support. A person can find answers to almost any question they have and even talk to others who have started their own business. The internet business environment is one of helping others.

One myth that may hold some truth is that marketing online is impossible. While it is, obviously, not impossible it can be difficult for the beginner. Starting a home business online requires plenty of research into internet marketing. The marketing tools used online are very different from those used in the traditional environment. A person has to understand how to drive traffic to their website and how to catch the attention of their target market. As mentioned above, there are plenty of resources available to help a person get their marketing plan in order.

These myths about starting a business all make it look impossible to tap into the internet marketplace. These myths are quite untrue and should be ignored. It does take hard work and dedication to start any business, but using the internet just opens up a business to a huge marketplace and offers additional opportunities that a traditional, offline business does not have. It is worth it for every business owner to look into the internet when starting a home business.