http://www.goodlifefinance.com.au/

Raj Nathoo- Good Life Finance, Dayton, Perth (2026)

09/08/2026

How to negotiate on price and knock out the competition:

All's fair in love and war, and the same might be said for negotiating with real estate agents.

Whilst you want to get the best possible deal on your purchase, the agent is responsible for getting the best possible price for their client - the vendor.

Depending on how long you have been looking, you might be tempted to just pay the asking price to free up your Saturday mornings again.

But just think - how much sooner could you pay your loan off if you saved tens of thousands on the purchase price?

If you want to get the best deal on your property purchase, try these 6 tips:

Focus on positives all around.The best way to negotiate is for every party to feel like they won the game in some way.

Communicate clearly and develop a rapport with the selling agent. Don't try to pick holes in the property.

Do your homework. If you want to be able to negotiate on price, you need to have a good idea of what similar properties in the area have sold for in the past couple of months. You should walk through plenty of open houses and keep a close eye on the sold results for your area. (If the selling agent offers to give you a list of sold results, accept politely but do your own research because they will probably choose the highest prices to help in their negotiation with you).

Don't try to buy outside of your price range. If a property is advertised at $500k to $550k, and your budget is $450k, don't waste your time.You will only destroy your credibility if the right property comes up with that selling agent in the future.

Try to find out what the vendor's motivation is for selling. If they need a quick sale, or if they require a certain settlement period, this could help you to negotiate a deal that works for everyone.By including something in your offer that sweetens the deal, this could put you ahead of other buyers in the race.

Timing is everything. Some would advise that it's best to make the selling agent chase you as much as possible. But depending on the area, you might have a win by putting your offer in early. In areas with slow property sales, a vendor might be shocked to receive an offer in the first few days on the market.If you make your offer valid for only a day or two, the vendor will need to decide whether they wait and hope that someone else will come along, or whether they accept your offer for a quick sale.

06/08/2026

How to help your children without losing everything...

When your children were born, you had so many hopes and dreams for their future. You imagined a life filled with happiness and success. From day one, you set about helping them to achieve their goals, everything from learning their first words, to getting a job.

But for many parents, there comes a time when you might be asked to make a decision that could be of great benefit to your child, and very risky for you.

Guarantor Loans involve using the equity in your own home in order to secure the loan of a family member. Parents who agree to act as a guarantor for their child, are effectively putting their home up as security, and agreeing to cover any amounts that their child might be unable to pay in the future.

These sorts of loans are very helpful to first home buyers, because they allow individuals to borrow 100% of the purchase price or more, using the equity in their family member's home as a kind of insurance.

Unfortunately, many parents don't understand the weight of this decision, and the conditions that they will be agreeing to if they sign the loan. Some parents feel pressured to help out and don't take the time to consider their options.

If you do want to enter into this sort of arrangement, there are a few things you can do to protect yourself:

Seek independent legal advice before you agree to anything. It's best to address your concerns with a professional before an offer is made on a property. This will avoid a tricky situation for your child if you decide not to act as guarantor and they're unable to settle.
Educate yourself about your responsibilities as guarantor so that you can make an informed decision.
Meet separately with your mortgage broker or lender so that you can ask plenty of questions without feeling pressured to sign.
Be honest with yourself about whether your child is ready for the responsibility of a mortgage. You know more than the lender does about their financial habits, and it's in your best interests to be a little bit sceptical. After all, you will ultimately be responsible for any amounts that they can't pay, for whatever reason.
Plan for the worst, and work out if you can afford to service the loan if something unexpected happens and your child becomes unable to make their repayments.
Insist on insurance to cover against illness, injury or sudden job loss.
It's also worth considering all of the alternatives before you commit to act as guarantor. Sometimes a monetary gift to cover the deposit is equally helpful, and less risky for everyone involved. After all, you want to be able to enjoy your retirement in style!

05/08/2026

Discover 5 ways to attract your ideal tenant:

You've made the decision to purchase an investment property, and you're ready to tackle your new role of 'landlord' with diligence and enthusiasm. So it would make sense to buy the property first, then hire an agent, decide on the rent and interview tenants - right?

No, actually. If you want to attract the ideal tenant, it's quite the opposite.

1. Purchase the investment property with your ideal tenant in mind

Before you purchase your investment property, it pays to think about who your ideal tenant is. Are they a professional couple, a family, or someone in their older years? Once you have a firm idea of who you would like to rent to, you can start to put yourself in the tenant's shoes and think about what the property should offer.

If your ideal tenant is a professional person, look for properties with good access to transport, an easy commute to the nearest CBD.

If you prefer a young family, then schools, kindergartens, shopping centres and sporting facilities will be on the menu.

2. Presentation pays off

The best tenants are not likely to be impressed by a mouldy smell coming from the wardrobe, or a bright yellow toilet seat from 1970. Try to make some inexpensive improvements if you can, and present the property as a clean and comfortable home. Ensure that everything is in good working order, and try to keep colours neutral.

3. Price for the market, don't increase the rent too much

Research other properties for rent in the area, and price your rent accordingly. Once you do manage to find that dream tenant - don't increase the rent too often, or too much. This will only encourage tenants to look elsewhere. A $10 per week rise might seem like a good idea in the long term, but if your property sits empty for months between tenants that will represent a far greater loss.

4. Screen agents and tenants carefully

Before you sign up with a real estate agency or property manager, find out about their track record and the way they like to do things. How do they handle complaints about the property, or tenants who default on the rent? How often will they carry out inspections?

Make sure they have a rigorous process in place for screening tenants, and make your wishes clear from the beginning.

5. Invest in landlord's insurance

If all else fails, landlord's insurance can really save the day. Make sure you invest in a good insurance policy that covers you for any damage by tenants, unpaid rent or liability claims.

05/08/2026

Make your house a home with a low cost home improvement loan.

04/08/2026

Have you considered a second residence on your property?

Home owners looking to invest in a rental property without taking on significant debt are finding a solution in their own backyard.

The granny flat is regaining popularity as a solution to tight rental markets, an ageing population and metropolitan land shortages, thanks to more relaxed legislation in some parts of Australia.

Whether it's actually for granny, an adult child or an unrelated tenant, a second residence on your existing property can bring benefits, if you do your homework.

Not just a room for rent

Different states have different rules but generally granny flats:

Can be built only on residential blocks 450 square metres or larger that are not strata title, subdivided or community title property.
Must be owned by the same person(s) as the main dwelling.
Can have no more than 60-70 square metres of living space (patios, verandas or carports can be additional).
Can be attached to the primary dwelling or freestanding.
Must have a separate entrance (even if attached to the main house).
Regulations regarding construction and occupancy differ between states and territories, so do your homework before finalising plans. Planning rules can also vary among councils.

Managing up

Having the grandparents close by has all sorts of family advantages, providing everyone gets along! One of the biggest perks, apart from having built-in baby- sitters, can be lightening the financial load for both the senior and junior parties.

Often parents agree to cover the cost of building a granny flat as an affordable alternative for their retirement, while their child can benefit from increased value to their property and possibly a rental income further down the track.

But don't assume a granny flat will instantly add value above and beyond its cost. Often the value is derived from the opportunity for an extra income to help pay down the mortgage on the primary residence faster.

It will depend on the housing market in your area as to whether a second residence adds to the overall value of your property - another reason to do your homework.

It's also important you get legal advice for your circumstances so if someone dies or has to go into care, or the younger family decides to sell, the financial implications are clear for everyone involved.

Still in the nest

A granny flat can be a win-win for parents whose adult children are still attached to the family home and all of its convenience. The separate residence gives both parties privacy, while the younger generation can get a taste of independent living and save on rent.

Parents may have to set some clear boundaries with this option because, although the kids are at arm's length, they are still under your nose and may still need to abide by your house rules.

Investing close to home

Taking the plunge into investment property can be daunting for home owners. With a granny flat, you can dip a toe without hefty debt and be positively geared from the get-go. For an investment of around $120,000 in a capital city, you are likely to reap $220-$330 a week in rent.

Talk to local real estate agents to gauge the local rental market. Granny flats (either attached or detached) often appeal to single women who appreciate the extra security of someone else living on site or young people studying from out-of-town or overseas, especially if your residence comes fully furnished.

You should also research whether a one or two-bedroom residence would be more rentable in your neighbourhood.

Tax implications

Capital gains tax (CGT) doesn't apply to your main residence, no matter how much it appreciates in value from when you buy to when you sell. You can even rent it out for six years, CGT-free, providing you don't claim another property as your main residence for that same period.

However, the CGT exemption may no longer apply for part of your property when you add a granny flat, which means you may have to pay CGT when you sell up.

The rules can be complex and a little blurry, and hinge around how the granny flat is used, so make sure you get independent, professional tax advice to fully understand the tax implications for your situation.

Need extra money to fund the build?

Talk to your broker if you are considering creating a second residence. It might be a good opportunity to review your home loan and find a deal to better suit your circumstances.

01/08/2026

Finally - your survival guide to a joint bank account:

It's the one proposal that never appears in romantic movies. It doesn't involve a big diamond, and it won't lead you down a flower-adorned aisle to the tune of 'the wind beneath my wings'. For some, it's an exciting affirmation that the relationship is becoming more serious. For others, it can be a disaster waiting to happen.

So 'what's this proposal?' you ask. It goes a little something like this...

"Honey, do you want to open a joint bank account?"

10 little words that will either melt your heart, or have it beating double time in sheer panic.

So how do you avoid joint account disaster? Is it ever a good idea to entwine your finances?

Like many other financial decisions, this one is best served with a healthy dose of discussion, and some planning. It's crucial to compare notes early on, and ensure that you're both on the same page when it comes to matters of the wallet.

Clear the air

One of the biggest relationship-killers is money. Some people feel that money is a necessary evil, something that comes and goes, pale in comparison to experiences and relationships. Other people see money as a means to achieving freedom and happiness, and have clear financial goals in mind.

You might be very compatible in many ways, but it's possible that you have very different attitudes about money. It's important to have some open discussions about your financial situation before you open a joint account.

Plan a budget

Discuss what your joint account will be used for. Many couples have a joint account for the rent and household bills, and they each deposit an agreed portion of their pay. The remainder stays in personal accounts to be used for savings, leisure or personal shopping.

It's important that both parties are clear about which expenses can be paid out of the joint account. This will avoid arguments when one party tries to pay the gas bill, only to find that their partner has withdrawn that money for a friend's birthday present.

Sharing is caring

It might be a difficult topic, but this is the time to be honest about what you have, what you owe and what you earn. If one partner earns significantly more than the other, you will need to work out whether you both deposit the same amount into the account every month.

If one partner has significant debts, it's vital to get this out in the open to avoid problems down the track.

With a bit of planning and some candid conversations, your relationship can survive the joint account challenge.

31/07/2026

Discover the best ways to get your first home.

Low interest rates, flat property prices and government grants continue to entice plenty of first-time buyers into the home market.

While home is where the heart is, savvy first-time buyers are also using their heads. Here are some of the best ways to make your first move.

AN APARTMENT

It's generally accepted that, on average, units achieve lower capital growth than houses over the long haul. However, that average tends to over-simplify things and ignore the many lifestyle benefits that can come with a unit in a handy location.

Units generally allow first-time buyers into areas they couldn't afford if they were buying a house. The lower capital return is often a trade-off.

The right unit, though, can still provide capital growth over time and a solid leg-up to something bigger or better, while owners get the benefit of convenience and low maintenance in the meantime.

What to look for:

- Within 15km of the CBD.
- Walking distance to public transport, cafes and restaurants.
- I-nternal laundry.
- Lock-up garage.
- A complex with a high percentage of other owner occupiers.
- Affordable body corporate fees.
- City views.
- Built-in wardrobes and other storage.

What to avoid:

- Too many stairs.
- Areas with a glut of new apartments for sale.
- Over-capitalising on any make-over.
- High body corporate fees.
- Something to consider:

If you decide to trade up to something bigger, you may find your unit becomes an ideal starter for an investment portfolio.

THE FIXER-UPPER

If you're set on a certain area but find yourself short on the sale price, consider an older house in need of renovation. With property prices flattening, the opportunities for a quick profit with a lick-and-flick have dwindled. But for first-home owners looking to settle for five or more years, a renovator's delight could still have plenty of upside.

Fixer-uppers generally appeal to buyers who plan to do most or some of the work themselves. If you're not handy or don't have time to work on the property, steer clear.

A professional building inspection is a must for all properties, but the devil is always in the detail when it comes to older homes. Read the inspection report thoroughly and seek more information and repair quotes if any issues are highlighted.

What to look for:

- Houses that only need cosmetic work such as a new kitchen, bathroom, paint, floor coverings and landscaping.
- Sound electrical and plumbing.
- A high aspect (views always add value).
- Signs of other renovations in the neighbourhood.
- Excellent local infrastructure, such as public transport, or plans for improvements.
- Good property drainage.

What to avoid:

- Asbestos (unless it is a bargaining chip and can be removed easily by an expert).
- Structural deterioration.
- Damp.
- Properties prone to flood.
- Something to consider:

Look in post-war suburbs with ageing populations, especially if they are near other areas that have already undergone urban renewal.

HOUSE AND LAND PACKAGE

Your first home doesn't have to be your dream home, but a house and land package could get you close.

If you are prepared to be further from the city, the house and land bundle is worth considering. You not only get all the conveniences of a new home, often built to your design, but better energy efficiency than an older home due to new regulations and improved green technology. You may also be able to take advantage of government incentives for new homes, on top of regular first-home buyer grants.

The trade-off for all of this is usually distance. If you work in the city, a long commute to the office may soon take the gloss off your new home and neighbourhood. On the other hand, affordable, new developments are opening up in smaller cities, such as Brisbane and Perth, which are not as far flung as the new home and land packages in Sydney.

The biggest challenge with new neighbourhoods is infrastructure, especially transport. Talk to the local council about what is planned for the area and when.

What to look for:

- Infrastructure to support a new suburb, including shops, public transport and schools.
- A reputable builder who has built other homes in the area, not another state.
- Land that will help set your home apart - a high aspect, city or bush views.
- An easy-to-read contract that spells out all inclusions, progress payments, completion date, allowable delays and treatment of unforeseen conditions.
- Good drainage.

What to avoid:

- Flood-prone land - reclaimed industrial sites and land near golf courses and parks are often on flood plains.

BUDDY UP

Many singles are now finding two heads and wallets are better than one when it comes to their first home. Siblings and friends are buddying up to get a better quality first home than they would solo. Finding the right partner is key, with trust and reliability critical. Contracts now accommodate tenants-in-common with equal and unequal shares in a property.

As your local Mortgage Broker, I can then help you structure a loan that reflects each owner's share and repayments.

Talk to your local mortgage broker

Your house hunt should start with a visit from a local Mortgage Broker. Brokers work for you, not the lender. Their aim is to find the best home loan for your situation, saving you money over the life of the loan. They can also manage the entire loan process and organise pre-approval so you can start your property search with confidence.

29/07/2026

Get new equipment. Keep your cash flow.

28/07/2026

Six Steps to becoming mortgage-free - Step 2: Change your frequency...

Do you wish there was a way to own your home sooner - without a mortgage? Do you often wonder what it would be like to worry less about your repayments, and more about planning your next holiday?

What if there was a way to reduce the length of your loan, without making huge financial sacrifices?

Well, the good news is that there are six steps you can implement today that will make a huge difference to the time it takes you to pay off your loan.

Last week we discussed the importance of shopping around to make sure you have the best loan in the first place. A small saving now could translate to enormous financial and time savings over the life of your loan.

Today there is another simple step that can really make a difference to the amount of interest you pay on your loan. And it's as simple as changing the channel on your TV. (Well, almost!)

Change your repayment frequency.

Lenders calculate the interest on your loan daily. So even though your repayments might be made on a monthly basis, your interest is accruing all the time - even while you sleep.

By changing your repayments to come out fortnightly, you'll pay your loan off faster. You will also reduce the total amount that you pay on your loan.

This could mean reaching your financial goals a little sooner, and having more money in your pocket at the end of the day.

Stay tuned for your next step to becoming mortgage free!

26/07/2026

The truth about your Credit File.

When the National Consumer Credit Protection Act came into effect in 2010, it was designed to help regulate lenders and prevent consumers from getting out their of depth with debt.

One of the spin-offs has been increased scrutiny on would-be borrowers.

Lenders now look to an individual's credit file to help determine if they are a good or bad risk.

Yes, that's right - a credit file. It sounds very FBI and, in some ways, it is. Your credit file includes your personal information, including your full name, date of birth, driver's licence number, gender, addresses and employer information.

It also records any credit applications you have made in the past five years, such as home loans or store financing of household goods, plus any bills you have defaulted on and any financial matters on public record, including any bankruptcies or directorships.

Home lenders will look at your credit file to verify your reliability. Being aware of what's on your file and how you can keep it clean, will go a long way to helping you secure a home loan.

Previous credit applications

A previously declined credit application can leave an unwanted stain on your credit file. If you are declined a credit card or a loan, find out why and take steps to rectify the situation before applying for new loans or credit.

While your positive actions may not erase the blemish, you can at least demonstrate responsibility with the new lender, which may convince them to give extra weight to other criteria, such as income and a strong employment record.

Payment defaults

Don't think that unpaid phone bill from your previous rental matters much? Think again. A payment default is an account of $100 or more that is 60 days or more overdue.

Payment defaults can only be included on your credit file if the credit provider has tried to recover some or all of the overdue amount. This means they must have sent a notice in writing to your last known address and requested payment.

Payment defaults stay on your credit file for five years, even after you pay the overdue amount.

If you don't pay a bill but can't be contacted, you may be declared a clearout. Before you can be listed as a clearout, the credit provider must make reasonable efforts to contact you, either in person (including over the phone) or in writing to your last known address.

If you can't be contacted, the credit provider can immediately list the debt on your file as overdue, even if it hasn't been overdue for 60 days or more. Clearouts remain on file for seven years from the date they are listed, even when you have paid the overdue amount.

Avoid unpaid bills blighting your credit file by:

- Paying on time or at least when overdue notices are sent.
- Providing a change of address to all creditors/billers if you move.
- Leaving someone to manage your bills if you need to be away for a month or more.

Hardships

They say it's often better to seek forgiveness than permission, but most lenders are happy to discuss what can be done to help if you hit hard times. Far better to fess up to a creditor or lender if you can't make one or two payments than have them whack a black mark on your credit file due to lack of contact.

Talk to your Mortgage Broker

Borrowing via a Mortgage Broker is one of the best ways to navigate the credit crunch. A broker will have a good understanding of what financial attributes various lenders are looking for in their borrowers.

For example, a lender may give kudos to long service in a job and a solid savings record, which may help offset an unpaid bill from three years ago that appears on your credit file.

Your broker can also advocate and negotiate on your behalf. Just remember, it pays to be honest. If you have a mark against you, be up front so your broker can consider the best lender and loan for your situation.

Raj Nathoo- Good Life Finance

09/08/2026

06/08/2026

05/08/2026

05/08/2026

04/08/2026

01/08/2026

31/07/2026

29/07/2026

28/07/2026

26/07/2026

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