Katrina Parrington

Mortgage & Finance Broker, Elders Home Loans – Northern Territory – P. 8932 8900

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  • Elders Home Loans

  • Katrina Parrington

    I am a long term Centralian resident with more than 18 years experience in the financial services industry. Initially, in Real Estate in Adelaide before pursuing a career with Elders Insurance Alice Springs and lending roles with major banking institutions where I gained extensive experience in Home Loans and Commercial Lending here in the Alice and in Darwin.

    I have a unique set of skills that ensures I understand your lending needs and can provide you with professional advice and personal service.

    Tel: 08 8953 8800
    email: katrina.parrington@eldershomeloans.com.au

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Posts Tagged ‘Investment’

New research on negative gearing and capital gains tax | The Real Estate Conversation

Posted by Katrina Parrington on June 29, 2015

New research on negative gearing and capital gains tax | The Real Estate Conversation.

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Posted in Elders Home Loans - Alice Springs, Elders Home Loans - Darwin, Elders Home Loans - Palmerston, Elders Home Loans Northern Terriotry, Interest Rates | Tagged: , , , , , , , , , , , , , , , , | Comments Off on New research on negative gearing and capital gains tax | The Real Estate Conversation

Home is where the wealth is | The Real Estate Conversation

Posted by Katrina Parrington on June 4, 2015

Home is where the wealth is | The Real Estate Conversation.

Posted in Elders Home Loans - Alice Springs, Elders Home Loans - Darwin, Elders Home Loans - Palmerston, Elders Home Loans Northern Terriotry, Interest Rates, land shortage, Major Banks | Tagged: , , , , , , , , , , , , , , , , , , , | Comments Off on Home is where the wealth is | The Real Estate Conversation

REIA welcomes budget boost to small business | The Real Estate Conversation

Posted by Katrina Parrington on May 18, 2015

REIA welcomes budget boost to small business | The Real Estate Conversation.

Posted in Elders Home Loans - Alice Springs, Elders Home Loans - Darwin, Elders Home Loans - Palmerston, Elders Home Loans Northern Terriotry, Interest Rates, Major Banks | Tagged: , , , , , , , , , , , , , , | Comments Off on REIA welcomes budget boost to small business | The Real Estate Conversation

NT Government Must Re-Think Housing Affordability Across the Territory

Posted by Katrina Parrington on May 6, 2015

The reserve bank of Australia has taken a national perspective on the economy by taking the brave step of cutting theEldershomeloans_0014 - Copy interest rate once more.  This decision was taken despite the strong rise in Sydney property prices.   Trends in other cities and Australian towns are varied.

Interest rates are at incredible lows but as well as the Reserve Bank making adjustment,  the NT Government must consider what adjustments it can make to help home owners into their first home and to stimulate competition in business to make home ownership more affordable overall. Read the rest of this entry »

Posted in Elders Home Loans - Alice Springs, Elders Home Loans - Darwin, Elders Home Loans - Palmerston, Elders Home Loans Northern Terriotry, Interest Rates, land shortage, Major Banks | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , | Comments Off on NT Government Must Re-Think Housing Affordability Across the Territory

Which Inner City Suburbs Are Most Affordable

Posted by Katrina Parrington on April 27, 2015

images[7]CoreLogic RP Data’s weekly Property Pulse shows which suburbs have the most affordable median value near the CBDs of Australia’s capital cities.

According to the data, the median value for Sydney’s inner city houses is significantly higher than the rest of the capital cities, with Turrella as the most affordable suburb in Sydney having a median house value of $839,676.

Read the rest of this entry »

Posted in Elders Home Loans - Alice Springs, Elders Home Loans - Darwin, Elders Home Loans - Palmerston, Elders Home Loans Northern Terriotry, Interest Rates, land shortage, Major Banks | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , | Comments Off on Which Inner City Suburbs Are Most Affordable

Melbourne’s most investment-friendly suburbs | The Real Estate Conversation

Posted by Katrina Parrington on April 23, 2015

Melbourne’s most investment-friendly suburbs | The Real Estate Conversation.

Posted in Elders Home Loans - Alice Springs, Elders Home Loans - Darwin, Elders Home Loans - Palmerston, Elders Home Loans Northern Terriotry, Interest Rates, Major Banks | Tagged: , , , , , , , , , , , , , , , , , , , , | Comments Off on Melbourne’s most investment-friendly suburbs | The Real Estate Conversation

Tax benefits of repairs and renos

Posted by Katrina Parrington on July 1, 2013

Claiming tax deductions on renovations to your investment property can save you big dollars but there are many tips and traps you need to be aware of, reports Julie Nance.

For first-time property investors, knowing the difference between deductions for capital works and depreciating assets is a good starting point.
The Australian Tax Office (ATO) allows you to claim capital works deductions for the construction costs of buildings, extensions, alterations (including kitchen and bathroom renovations) or structural improvements such as a gazebo, carport or retaining wall. The deductions are usually claimed at the rate of 2.5 per cent in the 40 years following construction, as materials such as bricks, concrete and windows are deemed to wear out slowly. Deductions can only be claimed if the property was built after 17 July 1985.
Depreciating assets, also known as plant and equipment, are parts of your investment property that are deemed by the ATO to deteriorate more quickly – such as an oven, dishwasher, dryer, air-conditioning unit, carpet or blinds. You can claim the deduction based upon the effective life of each item, regardless of the date the property was built. Each item will have its own effective life.
Tyron Hyde, CEO of quantity surveying firm Washington Brown, highlights in dollar terms the difference between the two types of deductions.
“If I purchased a house, then spent $100,000 to renovate the property, about $80,000 would be in the brick work, concrete, windows, doors, roof – the capital works,” Hyde says.
“You can claim that $80,000 at 2 ½ per cent yearly, for 40 years, which is $2,000 per annum. The balance of the renovation expenditure, $20,000, might fall into the category known as plant and equipment – ovens, dishwashers, blinds etc. Even though this is a lesser total amount, the first year deduction could add up to over $5,000 that might be able to be written off in the first year alone.”
Hyde provides the following advice to help first-time investors separate fact from fiction.
Fact: Timing is critical You can only claim deductions for the period during the year that the property is rented or is available for rent. If you bought a property and the tenant was there for six months, you renovated it and then moved in afterwards, you cannot claim the removal of those items. It has to be an investment property again once you have completed the renovations.
Fiction: You have to rent out a property for a six-month period to claim deductions. There’s nothing in the legislation regarding a minimum time frame. If a tenant was in place for one month after settlement and there’s a lease involved, you can then renovate and deductions would apply, as long as it is income producing or available to be rented out.
Fact: You can claim depreciation even before you start a renovation. This is true provided the property was built after 1985 and it has been leased out. Consult a quantity surveyor prior to the renovation who will assess the value of what is about to be removed and write this amount off. The amount can be quite substantial.
Fiction: You can’t claim depreciation on renovations carried out by a previous owner. You can still claim the depreciation as if you have done the renovations yourself, including on properties built before 1985. If I was to buy a property that had a 100-year-old structure but internally a new kitchen and bathroom were put in two years ago, the 40-year life expectancy starts from the completion of those renovations. If you don’t know the timing of the renovations, a quantity surveyor can estimate that for you.
Fact: There is a big difference between renovations and repairs and maintenance. You can claim a deduction for the costs you pay to repair and maintain your rental property, in the year you pay them. Some people find it difficult to work out the difference between repairs and capital works.
Examples: REPAIR: A plumber fixes a valve on a hot water system. CAPITAL WORKS: The plumber replaces the whole hot water system.
REPAIR: You fix five missing or broken palings on a timber fence. CAPITAL WORKS: You replace the whole fence.
Fiction: You can claim the amount of initial repairs. If you make repairs straight after settlement, they are deemed capital works because the deterioration occurred to the property before it was yours.

Posted in Elders Home Loans - Alice Springs | Tagged: , , , , , | Comments Off on Tax benefits of repairs and renos

Negotiation 101

Posted by Katrina Parrington on July 1, 2013

If you’re buying your next property by private treaty, or even putting in a
pre-auction bid, brushing up on your negotiating skills could save you a small
fortune.

We asked the experts how they go about sealing a deal that works
in their favour.

1. Determine the state of the
market

“First of all, establish whether it’s a buyers’ or sellers’
market,” says John Gibson, managing director of property advisors Locate
Negotiate. “This can have a dramatic effect on your negotiation strategy and the
outcome.”

2. Find out why the owner is
selling

“Establish the motivation of the seller,” Gibson says. “Is
there a sense of urgency? If you can establish that there is, that may tip the
scales in your favour.”

Peter Boehm, an expert in personal and property
finance, and author of The Great Australian Dream: Your Guide to Buying Your
First Home (Slattery, 2011), says if the agent tells you the owner is ready to
move quickly, you will know he’s looking for a quick sell.

3. How
long has the property been on the market?

“The longer a property has
been for sale, the more likely you are able to negotiate a good price,” Boehm
says. “But that also indicates that you should be cautious in case there’s
something wrong with the property.”

4. Ask questions about the
price

“What price is the seller looking for? On what basis was the
property priced?” Asking these questions, as well as asking the agent directly
what they think is a reasonable price, will help you work out what the seller’s
expectations are, and, by checking with the prices of comparable properties,
whether it’s a reasonable expectation, Boehm says.

5. Let the
agent know if you can move quickly

“If you go to an agent or seller
and say, ‘we can exchange a contract within two days’, then that’s always looked
upon as good, because it means your offer is not subject to finance,” Gibson
says. Submitting a signed contract with a deposit cheque with your nominated
price is often a way to ensure your interest is considered very seriously, he
says.

6. Find out if there are any problems with the
property

If the agent knows about any problems, he’s obliged to tell
you, Boehm says. “Does it need restumping? Rewiring? If it does, and you are
still interested, get a property report, find out how much it will cost to
repair these problems, and then knock the cost off the price.”

7.
Test the water

Make an offer lower than the asking price to glean
information from the response. “Not all sellers are greedy, and often they are
happy to sell,” Gibson says. “Everyone has different expectations. This way you
will determine their bottom line.”

8. Use your
manners

There’s no advantage is using dirty tactics or being
annoying, Gibson says. “Always try to be professional and establish a good
rapport with the agent. Agents like dealing with people they
like.”

9. What is and isn’t included?
“Be perfectly
sure of what you are buying,” warns Boehm. “Sometimes vendors might take away
all the light fittings, or ornamental garden features… If they start taking
stuff away, you could say, the price will have to go down. You don’t want to pay
for something you’re not going to get!”

10. Don’t act too
attached

If you are not emotionally attached to a property, tell the
agents you have offers on other properties, Gibson suggests. “That may speed up
the owner’s decision-making process,” he says.

Also, asking, “What other
properties do you have in this price range?” indicates that you are not
desperate to buy this one property, Boehm says. “And that might help bolster
your negotiating position.”

11. Get help
Finally, if
you don’t feel like you’ll do a good job of negotiating, think about paying
someone else to do it for you. “Buyers’ agents are great if you don’t have the
confidence to negotiate with sellers,” Boehm says. “They will also do some
market research and determine what they consider is a reasonable price to
pay.”

Posted in Elders Home Loans - Alice Springs | Tagged: , , , , , , | 5 Comments »

Statement by Glenn Stevens, Governor: Monetary Policy Decision

Posted by Katrina Parrington on April 3, 2012

At its meeting today, the Board decided to leave the cash rate unchanged at 4.25 per cent. Read the rest of this entry »

Posted in Elders Home Loans - Alice Springs | Tagged: , , , , , , , | 1 Comment »

Save years & $$

Posted by Katrina Parrington on March 26, 2012

How would you like a savings account with an interest rate 60 basis points (or more) above the best savings accounts on the market, that is not only delivered tax-free, but could also help to clear your mortgage years early?
It might come as a surprise, but when it comes to finding a great savings rate, your home loan could be the answer. That’s because for savers, a mortgage offset account can offer a good, tax-free return with a rate that’s hard to beat. Read the rest of this entry »

Posted in Elders Home Loans - Alice Springs | Tagged: , , , , , , , | 1 Comment »

 
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