Video Tips On Home Buying, Investing and Renovating

by Chris Lang on May 24, 2011

If you are considering purchasing a home, an investment property or doing some renovations to your house, and you like watching videos, this post for you. There’s a new series of videos from the Commonwealth bank that I personally find educational and entertaining.

Even though I don’t intend to buy an investment property or do any renovations now, I watched every video they published, and here’s my 5 cents worth, a quick walk-through before you hit the play button. In a nutshell, there are some good tips, some bad advice and some hilarious episodes.

First home buyers

For the first home buyers they have some handy tips, including a suggestion to do a strata search if buying a unit or an apartment, an explanation how to get around not having 20% deposit, the different types of mortgage loans (fixed/flexible interest) and more.

It gets really funny when they film Nathan, a first home buyer from the country, casually walking into the office of Tim Lawless, the National Research Director for RP data, to receive help and advice, and meeting up with Effie Zahos, the Editor of the Money Magazine, to get an explanation of some financial basics. I think they’ve gone a step too far there, I mean it’s really funny but for an educational series you’d want to keep it real.

The part where I stopped smiling was where she suggests Nathan should consider investing in shares to speed up the process of saving up for a deposit. I really think that anyone who’s serious about buying a house should make sure their deposit is kept 100% risk-free, I can’t imagine who’d want to keep sacrificing for 3 years only to find out their savings were wiped out by a share market downturn. But folks, who am I to argue with the Commonwealth Bank or the editor of Money Magazine!

Investors

For the first time investors the video does a good job of explaining the 3 ways to pay off the home loan, suggestions whether to buy a house or a unit and why, advice where and how to advertise the investment property for rent (what portals to use, what photos to include, etc), what to insure the property for (malicious damage, loss of rent, etc).

Not to miss all the hilarious parts where the director of RP Data and the editor of Money Magazine give advice to the wannabe investor.

Renovators

From the renovators’ videos I like the part with legal advice, good tips – you may want to take notes even. There is a bit where line of credit facility is explained in a confusing way, so don’t feel discouraged if you don’t get it right away.

My overall impression is that these videos are useful to gain an initial understanding about what’s involved in the process, and about the order of things – what to do first, second, third, etc when you are buying a house or an investment property, or wanting to renovate.

They are fun to watch because they give you a fast forward through this lengthy process and make everything look too easy.

Enough said, turn your speakers on and enjoy, the video is below for you to click on.

Full disclosure: the above is my true personal opinion about this series of videos. To keep our relationship honest I must tell you that since this video is a commercial advertisement by the Commonwealth bank I may get paid if you watch the video.

{ 1 comment… read it below or add one }

house tour March 16, 2011 at 2:00 pm

Excellent DIY tip.

Reply

Leave a Comment

Previous post:

Next post: