Do you know about this website that allows you to see your Suburb’s Walk Score?
It is a bit of fun but also helpful when you are looking into an area to move to or buy an investment property.
The US based WALK SCORE® website now allocates a score to every suburb in Australia.
A high score simply means the suburb is more convenient.
100/100 = Perfectly convenient
0/100 = Antarctica
Don’t be fooled by the name. The WALK SCORE® is about overall convenience, not just walkability.
Interestingly, Sydney came out with the best WALK SCORE® when compared to our other large Australian cities. I suspect this is because it is faster to walk that drive in Sydney : )
Recent overseas studies indicate that properties with above-average levels of walkability command a premium over homes with average levels of walkability. Studies have also confirmed that high walkability scores can often correlate with relatively high yields and low tenancy vacancy rates. In the United States, for example, an additional one point increase in a WALK SCORE® is associated with a potential $3,000 increase in property value.
Have a try for yourself. This system is as easy as typing in your suburb and clicking GO.
Let me know what you think.
Remember if you have any questions about how to get into the property market contact me Kim Wight Mortgage Broker Sydney on 0412167551 or email Kwight@smartline.com.au
A lot of people think that my role as a mortgage broker is to just get you a home loan. While this is the primary duty I am also called upon to work with people when they are going through some of the toughest times of their lives, the break down of a relationship.
This week a long-time client contacted me asking to speak with me because she had had a really tough year and needed to know her options. These kinds of requests usually alert me to an impending relationship break down.
This client was doing the right thing by asking for advice regarding her refinancing and borrowing options before she discussed with her partner and legal team.
I find people when people contact me they are very open and discuss some of the details for the break up that they may not have shared with anyone else. While I do not need to know all the reasons for the breakup I do need to know of any financial problems that we need to work through. Have mortgage payments have been late or if the home loan is in default? Have there been problems with credit card debt?
By talking through the situation together we were able to consider a strategy for keeping the family home and also what the client’s options would be if the home had to be sold.
Recently I had a new client come to me following their family court agreement. They were upset that they had to sell the family home and now needed to buy another property. When I looked at the income and figures it would have been possible for them to have kept the family home and paid out their partner. This would have avoided the extra cost of paying stamp duty on the new purchase plus moving costs and further disruption to the children of the partnership.
My advice for anyone going through a relationship breakup where property is involved is:-
- Seek the advice of a trusted mortgage broker. These matters can take a long time to be sorted out and if you approach your Bank can you be sure you will be speaking with the same person each time you need assistance.
- Tell the full story about the financial situation no matter have embarrassing you might think it is. This is the only way a full assessment and advice can be given.
- Be prepared when you discuss your situation and have income details, family tax benifit amounts, maintenance payment amounts and details of all debts and monthly commitments.
I always say “you wouldn’t wish your worst enemy to go through a partnership breakdown but being informed gives you strength.”
If you or someone you know could do with a frank and honest discussion about their situation please call me Kim Wight Mortgage Broker Sydney on 0412 167 551 or email firstname.lastname@example.org I am here to help.