There has been a lot of discussion about housing affordability lately and it’s undeniably an important issue. Recently we discussed how housing affordability has changed over time in Canberra. In that post we talked about how, with the right attitude, the right planning and the right advice, there’s really nothing to stop you from buying your own home.
To illustrate that point, we spoke with Rebecca and Ben, a young couple who recently bought their first home in Chifley.
Monopoly might not be the best real estate board game out there, but it is the one that everyone knows. Most people have at least some memory of playing Monopoly. You might remember the thrill of passing go and collecting $200, how tense it gets when you have to move past a row of hotels, or maybe all you remember all the arguments it caused around the dinner table.
Monopoly is not a perfect game. It’s old, flawed and relies heavily on luck and no amount of special edition pop culture tie-ins are going to change that… but, at the same time it is enduring in its popularity and maybe part of its appeal comes from some of the real world lessons it can teach about investing in real estate.
We know that when people use industry terms and jargon you’re unfamiliar with, it can sometimes sound like they are speaking a different language. That’s why we want to make sure you have a good understanding of what these real estate terms mean.
This is the second instalment of our two part series that explains the meaning of some of the most commonly used real estate terms. You can find the first instalment here.
We know how frustrating it can be when you want to have a clear conversation about a topic and the person you’re talking to starts using a lot of technical terms you’ve never heard before.
It can happen when you’re talking with doctors, scientists, lawyers, I.T. experts or real estate agents. Pretty much anyone who works in an industry that requires a lot of specialist knowledge will have their own technical terms, jargon and terminology. That’s why we want to provide you with an explanation for some of the most important and commonly used terms in the real estate industry.