conveyancing Blog
Transfer duty, commonly known as stamp duty, is one of the biggest upfront costs when buying a property and it has been known to catch many buyers out when they don’t factor transfer duty into the expenses of buying a property. We're going to break down what stamp duty is, how you calculate it in NSW and who can potentially get an exemption below.
Transfer Duty Explained
Simply put, transfer duty is a duty, or tax, charged by the State Government for certain types of transactions that is paid for by the purchaser. You'll find it on different transactions like mortgages, property transfers,...
Current Laws Governing Retirement Villages
Australia has an aging population, which is causing retirement village popularity to skyrocket. Because of this, it's essential that the law keeps up with the market demand and the changing...
Downsizing Dos and Don'ts
There comes a time in many people's lives when they look to move from their family home into a smaller, more manageable property.
What information do I need when planning to downsize?
Retirement is an exciting new chapter in your life but it can also be a challenging one. This is especially true if you choose to sell the family home and are thinking about downsizing your house....
Understanding the Retirement Villages Amendment Bill 2018
In November 2018, the NSW Parliament passed the Retirement Village Amendment Bill. This amended bill changes parts of the Retirement Villages Act 1999. In short, these bills protect both residents...
Legal questions to ask before moving into a retirement village
If you or your parents are considering moving into a retirement village, you'll find that there are a few differences to buying a home on the open market. We've compiled ten of the most commonly...
What is a deferred management or departure fee, and what does it mean for my retirement?
A deferred management fee—also called a departure fee—covers any expenses incurred by a retirement community during your residency, and is charged when you move out. When you sell your unit, the...
Understanding retirement contracts and village ownership
For many Australians, retirement means a change in their pace of life. This may come with the decision to downsize your home with the option of moving into a retirement or lifestyle village.
Retirement Village Eight Point Plan: what is it and how does it affect me?
More than 180,000 senior Australians now live in retirement villages, which offer convenience and economic advantages when downsizing from a family home. However, stories in recent years of...
Questions you should be asking before choosing a lifestyle village
If you’re looking forward to retirement, you might want to consider downsizing and moving to a lifestyle village to make life easier. After all, lifestyle villages aren’t just for the frail...
