HDI
FINANCE
The great debate -
buying vs renting
Are you caught in the age-old dilemma of whether to buy or rent ? It ’ s a hot topic , especially if you ’ re currently a tenant , weighing up your options .
For renters considering the leap into homeownership , there ’ s promising news : owning your own home might be more achievable than you realise . Even if personal finance planning isn ’ t your strong suit , now is the perfect time to reassess your finances and aim for homeownership . A home finance assessment isn ’ t about checking boxes ; it ’ s your compass guiding you toward the doorstep of your very own home .
As the saying goes , “ your home is your castle ,” and there ’ s truth to it . Owning a home means establishing a tangible asset for your family , one that can be cherished for generations or used to boost retirement funds without tax worries . Additionally , homeowners enjoy immunity from capital gains tax on their primary residence , setting them apart from other taxable assets .
While renters may avoid the burden of property maintenance costs , they often face limitations on personalisation and freedom . Simple tasks like hanging pictures or owning pets require landlord approval , whereas homeowners revel in the liberty to shape their living space to suit their preferences , fostering a true sense of ownership .
Ultimately , the decision to pursue homeownership depends on your individual financial goals . Affordability is paramount , and tailored home loan solutions are available to match your lifestyle and financial standing . With careful planning and wise decisionmaking , the journey to homeownership can be navigated with confidence and clarity .
For first-time homebuyers or those returning to the market after a decade , enticing incentives await , such as the ‘ First Home Guarantee ( FHBG ) 5 % Deposit ,’ ‘ First Home Super Saver ( FHSS ),’ and ‘ Regional First Home Buyer Guarantee ( RFHBG ) 5 % Deposit ,’ among others .
While it may be tempting to leverage multiple incentives , understanding their eligibility criteria and timelines can be complex .
Reach out to Dawn at Marmalade Money for tailored guidance on maximising available incentives while charting your course towards homeownership .
FLOOD MITIGATION , RECOVERY AND RESILIENCE – ONE YEAR ON
March 25 marked one year since the new Premier Chris Minns came to power , and despite the Hawkesbury- Nepean Valley Floodplain being one of the most dangerous floodplains in the state of NSW , Mr Minns has not accepted any of our invitations to come to the Hawkesbury to discuss this vital issue .
Given the severity of multiple floods over the last few years and the hundreds of millions of dollars in damage suffered throughout our local community , it is my view that flood mitigation , recovery and resilience should be one of the top priorities of this state government .
The July 2022 flood was the highest flood at Windsor since March 1978 ( 14.46m ) and both the March and July floods had recurrence intervals of approximately 1 in 20-year chance . Now , we are also hearing early predictions for the return of wetter La Nina weather conditions this winter , whilst we still have an almost full Warragamba Dam , increasing the chances of further flooding just as the Hawkesbury is trying to get back on its feet .
We all know that promises to raise the Warragamba Dam wall have been scrapped . In addition , recommendations from the 2022 Upper House inquiry into flooding to immediately fund the Pitt Town flood evacuation route have come to nothing and the funding arrangements to fix damaged infrastructure are complex and slow . And in the meantime , we have no solutions for flood mitigation , leaving us all sitting here while the next possible flood event looms . Our residents are furious and rightly so . After all we have been through in recent years , we need and deserve answers .
I therefore repeat my invitation to the Premier to have the courage and compassion to come out and see for himself the challenges we are facing and show the Hawkesbury that he does care .
HDI
HAWKESBURY DISTRICT
INDEPENDENT
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THE HAWKESBURY INDEPENDENT theindependentmagazine . com . au ISSUE 167 // APRIL 2024 21