Property

May Rate Cuts

Tue, 22 May 2012 04:45:00 GMT

With the recent May cut in interest rates now more than ever is a great time to visit our Mortgage Brokers to learn about what is happening in the market. Mortgage One is accredited with a large variety of lenders so whether you are looking to purchase a new place to live, thinking of an investment opportunity or just curious about the possible saving opportunities through refinancing we can assist you with your inquires in order to help find the right product for you.To summarise what has happened over the past 3 weeks the following major lenders have reduced their standard rates as follows;

ANZ 0.37points

CBA 0.40points

NAB 0.32points

STG 0.38points

WBC 0.37points

To find out more or to discuss the above information further feel free to contact our office to schedule a meeting. The Mortgage Broking team are friendly and are flexible with their meeting times in order for your convenience. So call us today to schedule a time and meeting place. Call Mortage One on 0296338600

Negative gearing the choice of the nation

Mon, 14 May 2012 02:25:00 GMT

The Australian Tax Office (ATO) recently released taxation statistics for the 2009/10 financial year.

Over the 2009/10 financial year there were 1,751,679 individuals that received rental income (owned investment property). The number had increased by 3.5% from the previous financial year. Of these 1,751,679 individuals, 1,110,922 individuals or 63% made a loss on their rental income; the remaining 37% of individuals turned a profit on their rental properties.

Of those 63% of investors that had made a loss on their rental income, the typical loss was $9,132 over the year or $176/week. The most concerning sign is that individuals that earn less than $6,000 a year are carrying a loss of $207/week with only those on an annual salary of more than $180,000 carrying a greater loss each week ($399). It is difficult to determine what this actually means however, you could assume that a portion of those on incomes of less than $6,000 p.a. are self funded retirees. Of course a portion of these people are likely to not be self funded retirees either. If the current housing market conditions persist and these people are essentially making no annual income having a negatively geared property is of limited benefit and they may in fact be looking to sell these homes in an already soft market. Even for those that are self funded retirees, if they have no personal income there is no benefit to them having a negatively geared property asset.

Somewhat worrying is the fact that 825,284 investors making a loss on their rental income are earning $80,000 a year or less. These owners are typically making a loss of $8,111/year ($156/week). For most of those in the lower income brackets the need to negatively gear a property to offset their tax is typically lower than those on a higher income. This leads me to believe that many have got into investment housing initially for the taxation benefits but obviously with a view to experiencing capital gains and the subsequent positive cash flow benefits in the future. The statistics also show that 285,638 persons (26%) making a loss on their rental property are earning more than $80,000 a year. These individuals recording a tax loss on their rental property are typically losing $12,082 a year or $232/week.

The news is much more positive for those investors that are achieving a profit from their rental property. The typical owner with a net rental income of more than or equal to $0 is making $160/week from their property as opposed to the -$176/week loss many others are making.

The results highlight that most property investors are negatively geared. Of course some will be quite happy to be negatively geared with the cost offsetting tax elsewhere while others, particularly those nearing retirement or at retirement, will be hoping the property starts to turn a profit in the near future. Given the current economic and housing market conditions, it seems as if these investors will be reliant on a pick-up in rental growth to propel them to positive gearing rather than capital gains. This is the reason why investors that are interested in purchasing in the current market must be careful and should focus on buying for long term capital gains while maximizing their rental return or even positive gearing rather than short-term capital gains.

Source: RPData

The ups and downs of the multi-speed economy. Which LGA's are the winners and lossers?

Tue, 01 Nov 2011 02:24:00 GMT

We’ve commented quite a few times recently on how the low volume of homes being transacted across the country is creating tough conditions across the real estate sector. Transactions volumes nationally are running about 11% below the five year average. The good news is that national sales volumes have shown some subtle improvements over the three months to July and are likely to show further improvements from the low base as the year progresses.

At a more granular level, an analysis of council regions (LGA) around the country shows that less than 10 percent of Australia’s LGA’s have recorded a higher number of sales over the June quarter this year compared with the five year average. The tables below summarise the top and bottom 20 regions based on June quarter sales volumes compared with the five year average benchmark.

Volumes are tracking above average in many of the resource intensive locations while it is primarily a combination of lifestyle markets, outer fringe housing markets and the inner Melbourne unit market where sales volumes are running at levels significantly below what might be considered ‘normal’.

The Pilbara’s Port Hedland, where the median house price is $775,000 and rental yields are averaging 13%, tops the list for percentage uplift based on June quarter sales compared with the five year benchmark. Second is the Bowen Basin coal mining region of Isaac, followed by the Upper Hunter region which is also synonymous with coal and natural gas extraction.

The trends at the other end of the spectrum are more diverse. The transaction numbers for Queensland’s Lockyer Valley and Ipswich are still likely being affected by the severe flooding from earlier in the year. Melbourne’s inner city unit market is showing transactions to be down 48% compared with the five year average which may be attributable to the combined effects of a slowdown in the local market as well as lower overseas student numbers. Lifestyle markets along the Queensland coast such as Cairns, Whitsunday, Gold Coast, Cassowary Coast, Fraser Coast and Sunshine Coast are all prime examples of how the sea change has pretty much come to a standstill resulting in few transactions around these coastal regions.

The results highlight how the multi-speed economy is influencing housing markets particularly from a resources and lifestyle market perspective. How long these trends persist is anyone’s guess, however clearly the resource driven markets are intrinsically linked to commodity prices and resource demand while any improvement across the key lifestyle markets is dependent on uplift in buyer demand for holiday/retirement homes and improved prospects for a rental return and capital gain which may start to once again attract investors.

Source: RP Data

Does Size Matter? Who’s got the biggest?

Tue, 01 Nov 2011 02:25:00 GMT

When it comes to land area, size matters. Or at least it used to. More recently, with affordability pressures from a buyer’s perspective, yield pressures from a development perspective and urban management from a policy perspective, we have seen an extended trend towards smaller blocks of land across each of the capital cities.

The trends are actually counter intuitive in some ways. The capital city with the smallest median area for land sold over the year to July is Adelaide, where established house prices are the most affordable of any mainland capital city. The typical block of land sold across Adelaide over the 12 month period was just 380sqm compared with median land sizes closer to 600sqm in Sydney, Melbourne and Brisbane.

In Sydney, where housing prices are generally the most expensive of any capital city, the median land area has diminished by less than 5 percent over the past five years from 602sqm in 2001 to 574sqm in 2011 (Adelaide’s median land area has reduced by 37%, Perth’s by 23%, Melbourne’s by 17% and Brisbane’s by 14%). The typical block size has hardly moved at a time when buyers are becoming more and more price sensitive.

The differences in land area from city-to-city and development-to-development are worth noting. With such a broad range in land sizes, comparing simple median selling prices can be misleading. A rate per square metre measurement is likely to be more appropriate.

As an example, based on a rate per square metre measurement, the most expensive land across the State Capitals is actually located in Perth where the median selling price on a square metre basis is $529. Sydney is second highest at $490/sqm, followed by Adelaide where land is selling at $465/sqm – that’s 9.7% higher than Melbourne prices and almost 20% higher than Brisbane’s on a rate per square metre basis. On a simple median price basis Adelaide land looks to be around 7% lower than what is selling in Melbourne and Brisbane.

In my view, smaller blocks of land are a smart strategy. Smaller land allotments tend to be cheaper for consumers and they maximise the development yield for strategically located land such as sites close to major population centres and transport connections. Smart home design should maximise the land use while still retaining some private ‘green space’ on the property.

There needs to be some balance of course; small allotment estates need to provide for open space and recreational areas where yard space is being sacrificed. This is generally the case in any master planned community or quality development. Prospective buyers are likely to overlook those land releases and housing estates that don’t strike this balance.

Why hasn’t Sydney ventured further down the path of smaller housing allotments? I’m not sure, but would suspect it relates to local town planning regulations rather than any lack of buyer demand or developer motivation to release smaller housing blocks into the market.

Source: RP Data

Guarantor Loans – a helping Hand to Enter the Property Market

Tue, 04 Oct 2011 01:27:00 GMT

Guarantor Loans – a helping Hand to Enter the Property Market

First home buyers are thinning out across Australia with a drop of 35% for the 12 months to June 2011 from a year earlier. First home buyers have shrunk from 21% in 2010 financial year to 15.6% in 2011. This reflects growing concerns over housing affordability with the average first home buyer loan increasing over this period and is forcing many first home buyers to look at home loan products commonly known as guarantor loans (sometimes referred to as Family Equity Loans).

While some first home borrowers are choosing to wait and save a deposit, others are looking to take advantage of no deposit products like guarantor loans to fast-track their housing dreams. The advantages include:

Borrow 100% of purchase price (105% home loans can be available)
Buy with without having a saved deposit
Parents can use their equity to help their kids buy a property
Save on the cost of Lenders Mortgage Insurance premiums
Ability for fast loan approval (no need to wait to save deposit)
Take advantage of the current lull in the property market

Call one of our mortgage advisors today to discuss how a Guarantor Loan can help you get your home sooner.

Which Renovators have the Top Design for their Block?

Thu, 27 Oct 2011 09:48:00 GMT

Renovators Delight

You would be forgiven for thinking that a new renovation show has come to your street. Sydney is in a grip of a renovation boom.

The Australian Bureau of Statistics shows that private large value renovations increased by almost 40% for the 12 months to June 2011. In contrast new home approvals were flat for the year with only a 3% increase. Total renovations added almost $3.1 billion.

The boom for builders comes at the expense for real estate agents as homeowners are choosing to stay put and do up their existing homes rather than move. Putting a home on the market and hoping to achieve the price you need to upgrade to your next home can be a stressful experience especially when auction clearance rates are averaging a mere 47% nationally. The transaction costs, agents’ commissions and stamp duty on a new house are tipping the scales towards renovating. People generally don’t like change and this allows them to stay within the familiarity of existing schools, shops and community surroundings.

Renovations Builds Value

Those who decide to refurbish need to assess whether the home is suitable for renovation. Not every home is a candidate. With a weatherboard home, it's better to extend at ground floor level not as suitable for a first-floor extension as brick homes.

Adding another storey or extending your existing layout or even knocking down a few walls to add an little extra space or updating a kitchen can all add additional value to your home, but more importantly added love and enjoyment of your old home.

Unlock your homes hidden equity

Facade: Added Value 5% - 10%

The facade is often the first thing buyers see - either in advertising or in a drive-by. That's why improvements to it are among the biggest value-adds for your house

Landscaping: Added Value 5% plus

From the street it sets up a good picture of the house ... At the rear, it is about enlarging the outdoor space: providing lawn for kids and trees for shading and privacy. The more privacy, the more buyers,

Deck or Terrace: Added Value up to 10%

Creating outdoor entertainment space adds big value, adding an outdoor living area that leads off the indoor entertaining area can make a big difference to value

Add a Bedroom: Added Value 15%

An extra bedroom is a significant way to increase value. If you are comparing two- and three-bedroom homes, the price jump is significant,

Convert an Attic: Added Value 8% (Storage) & 15% (Room)

Attic conversion is a definite bonus, especially in areas where land sizes are small and extensions are limited by space.

Update Kitchen: Added Value 7% - 10%

A kitchen can make or break a sale. If you open up by taking a wall down, to make the living space more open-plan, to make it look and feel bigger, you really add value

Add or update Bathroom: Added Value 10% plus

In a terrace if you can put a bathroom on the same level as the bedrooms, or add an ensuite to a master bedroom they are worth its weight in gold and can improve the price significantly.

Add Home Office: Added Value 10%

A dedicated study is a smart idea, as more people are working from their home a few days a week. A good home office can add great value. Typically it has a separate entrance (not through the living space), internet connection and data cabling

Green your house: Added Value 3% plus

According to an Australian Bureau of Statistics study, greening your house adds far more value than initial outlay. The report estimated that on a 10-star rating basis, every star the house went up in energy efficiency it added 3 per cent in value. (See nathers.gov.au.) Especially with an introduction of a Carbon Tax the saving on future energy bills could add more value to your home.

Build a swimming pool: Add Value may decrease may increase.

While they are popular among families with young children, swimming pools can stop people buying a house."You are better off not to have it, you can cut your market in half on the selling side. Make sure the swimming pool has a second value, that it is an integral part of the design of the house, so you get an aesthetic as well as practical benefit. This is where the value add can be found.

Renovate for Profit: How not to over spend

New kitchen: Spend between 4% and 6% of the property value.
New bathroom: Spend between 2% and 3% of the property value.
Landscaping: Spend 1% to 2% of the property value.
If you're rebuilding a home from scratch, don't spend more on the structure than the value of the land.
If you're doing a significant renovation of an existing house, don't spend more than half the value of the property – i.e. if you buy an old house on land for $500,000, don’t spend more than $250,000 on renovation

Tips for a Successful Renovation

Always start a project with a firm budget, otherwise it can lead to an unfinished project or unexpected borrowing which cuts the investment potential dramatically.
Always seek competitive tenders from builders or you may end up paying 50% to 100% more than they need to.
Always get a proper contract in place, one that deals effectively with changes that arise during construction as variations are inevitable
Don’t treat your new house as a package into which they put all their favourite things: gold taps, expensive floor tiles or a particular bathroom basin they love. To add value as well as improve their lifestyle, you need to consider other people’s tastes as well as your own – and understand which features add value and which do not
Get the external look right, with the extensions matching the existing structure and roof shape, and to achieve an internal layout that makes sense, with rooms of the right size
Pools are a big trap. The market is split 50-50 on whether they're desirable or not. Many people dislike the cost and hassle of maintaining pools

Approval vs Fines and Demolition Orders, your choice!

Tue, 04 Oct 2011 08:28:00 GMT

When you begin to plan any renovations or extensions to your property, you need to ask yourself the question, “Do I need approval?”

It happens far too often that home owners complete alterations or renovations to their property and face all sorts of problems once it goes onto the selling market.

Under the Home Building Act individuals are restricted from conducting RESIDENTIAL BUILDING WORK, ELECTRICAL WIRING WORK, or refrigeration or air-conditioning work unless they are a member or employee of a company that holds a contractor licence, or the individual holds an OWNER-BUILDER PERMIT for the work involved.

Penalties for individuals can be as high as $20,000.00.

Obtaining a Home Building Warranty certificate will also assist in selling your property. Purchasers will be wary where there is unauthorised work on the property. As well as confirming that approval was granted for the work, the certificate provides a number of WARRANTIES that ease the purchaser’s mind.

In addition to the penalty above, if you have conducted work without council approval, the council may require you to rectify or demolish the work performed. Is this something you are prepared to risk?

So save yourself the headache, not to mention the possibility of hefty fines, and does some research before you commence any work and confirm whether a development application and approval is required by your council. If in doubt, contact us.

Improve your Property Investment Returns

Tue, 04 Oct 2011 08:30:00 GMT

OSR Home Builders Bonus offers a positive incentive for investors

With all the uncertainty for investors in the market place, we can lose sight of the schemes which still exist and offer substantial savings and exemptions.

The NSW Home Builders Bonus (HHB) includes the following exemptions on stamp duty:

Full exemption on stamp duty for transactions relating to vacant land and off the plan purchases where building has not commenced. The value of the vacant land must not exceed $400,000.
A partial exemption of 25% of duty payable for purchases of completed new homes or off the plan purchases where construction has commenced. The value of the new property must not exceed $600,000.
The Senior’s Principal Place of Residence Exemption provides a full exemption for eligible seniors purchasing a new home that is to be occupied as their principal place of residence. Applicants must be over 65 years of age, and selling their current residence.

Only transactions entered into after 1 July 2010 and before 1 July 2012 will be eligible. And best of all, there is no limit to the number of new homes a person may purchase under the HHB.

So, if you have been considering an investment, a building project, or even making a move to a new family home, this may be an opportune time to consider the HHB and the eligibility requirements.

July Property Wrap

Mon, 31 Oct 2011 00:36:00 GMT

Stock on the Market

Nationally new listings are now 21.5% lower than the 12 months ago. NT and ACT bucked the Capital City trend with increases of 4% & 14.2% respectively. Total listings are still at elevated levels up 24.6% nationally from 12 months ago. It is important to remember that 12 months ago listing began to increase driven by as property prices increases and higher clearance rates underpinned by generous First Home Buyers Grants and other government incentives.

Auction Clearance Rates

Nationally Auction Clearance Rates fell to 47.2%. Sydney, Melbourne & Canberra recorded Clearance Rates of 50.4% to 55.2%, Adelaide 41.5% and Brisbane, Perth, NT and Tasmania all recording rates below 25%. Nationally home values have fallen 2.7% in 2011.

Rental Market

New rental listing fell 19.4% & total listings fell 7% nationally than 12 months earlier. SA & NT recorded rises. The rental market remains tight with a slow release of new product into the market and steady demand. Rental rates have increased only 2.9% over the last year with national median rents at $385 per week for houses and $380 per week for units.

Who’s Buying Property?

The RBA’s Financial Aggregates Report pointed to the slowest growth in Housing credit in 34 years. Australian Bureau of Statistics (ABS) May 2011 Housing Finance Data released last week showed that The total value of owner occupied housing commitments rose 0.1% (up $9m) in May 2011, following a fall of 0.2% in April 2011. Rises were recorded in commitments for the purchase of established dwellings (up $7m, 0.1%) and the construction of dwellings (up $6m, 0.4%), while the purchase of new dwellings fell (down $3m, 0.4%). The seasonally adjusted series for the value of owner occupied commitments rose 2.2% in May 2011.

First Home Buyers accounted for 15.4% in May slightly down from 15.8% recorded in April & 16.0% in March but still an improvement on the 14.9% recorded in February the lowest since June 2004.

The total value of investment housing commitments fell 0.4% (down $27m) in May 2011 compared with April 2011, the thirteenth consecutive monthly fall. Falls were recorded in commitments for the purchase of dwellings by individuals for rent or resale (down $23m, 0.4%), the construction of dwellings for rent or resale (down $2m, 0.5%) and the purchase of dwellings by others for rent or resale (down $2m, 0.3%). The value of investment housing commitments seasonally adjusted rose 4.4% in May 2011.

As long as consumers remain caution property prices are to remain subdued and first home buyers are likely to remain quiet. Rental growth barely keeping pace with inflation and higher interest rate environment, investors will remain in the sidelines.

Source: RP Data

End of financial year investment property checklist

Tue, 01 Nov 2011 02:26:00 GMT

With the end of the financial year just around the corner property managers and investors need to consider a wide variety of factors when preparing for taxation.

Most investors are likely to agree: the caliber of a property manager is often measured by their record keeping and reporting standards; at least this is true at the end of the financial year. The standard of record keeping and reporting can make or break a tax return. If the records aren't up to scratch, then providing appropriate and correct information to the tax office can be very difficult and time consuming.

Quality record management is something that needs to be ongoing; so if you find that it is not up to scratch this year, make sure the bar is reset and your portfolio is being managed appropriately in the new financial year. Record keeping for the end of financial year can be broken down into three distinct areas: income, expenses and depreciation

Income

Income related to the investment property is probably the simplest area to keep track of because there is generally only one revenue stream for each property: rental income. A good property manager will provide a concise summary of rental payments received over the last financial year. Investors should ensure all rental payments have been accounted for and that rental income amounts correspond with bank statements.

Expenses

Expenses can be somewhat more complex, as it involves a (very) wide variety of items. The list detailed within provides a solid overview of the normal expense items that should be included as part of an investment property claim. It is important to ensure all of the claimable expenses are included as part of the end of year assessment on the property in order to obtain the greatest tax benefit possible. Make sure you are only claiming those expense items that are allowed by the tax office.

Depreciation

Depreciation refers to normal ‘wear and tear’ to the asset, capital works and other depreciable items such as fixtures, fittings and appliances. The depreciation schedule is one of the most important documents relating to an investment property. For investors it is best practice to engage a quantity surveyor before the property is leased, in order to have a complete and accurate depreciation schedule in place. If you are seeking to claim depreciation on improvements or construction work, but don't have receipts, you will need a valuation report on the property.

Property Purchased in 10/11 Financial Year:

If the property was purchased in the latest financial year, the tax office will require details of the property including the purchase date, settlement date and purchase price. An RP Data powered agent can provide you with all these details. Other purchase documentation will include paperwork relating to the mortgage (borrowing and set up costs of the loan, stamp duty on the mortgage and government charges) and the date the property was made available for rent.
The end of financial year is also a timely occasion to update the value of your investment property or portfolio of properties. A computer generated valuation can provide a cost effective valuation of your assets quickly and accurately. Understanding whether your asset has gone up, down or sideways in value can provide a good indication of how much equity is available within your investment portfolio; a great launch pad for future investing in the new financial year. Given that in many areas property values have been relatively flat or declined during the last 12 months, it is a good time to reassess your financial position and compare it to the same time last year.

Looking towards the performance of the residential market over the next financial year, the current market and economic indicators continue to look less encouraging. Over the 12 months to April 2011, capital city home values have fallen by -1.5% and in the regional markets house values are down -1.8%. We expect that the subdued market conditions will persist for much of the next 12 months and potential interest rate increases will likely push back any recovery in capital gains. Affordability pressures are prevalent in the market and conservative consumers are paying down their outstanding debt, reluctant to take on any additional debt. Sales volumes are likely to remain at quite low levels and the market is likely to be very sensitive to any interest rate movements. Although we don’t anticipate much in the way of capital gains, we are anticipating that rental rates and subsequently yields will improve resulting in an improved investment return. Building approvals continue to trend lower and first home buyers are relatively inactive, resulting in increasing demand for available rental accommodation

Keep in mind, RP Data are not taxation advisers, accountants or financial planners. We recommend you seek independent professional advice and guidance when undertaking your end of financial year activities.

Source: RP Data

.Act now or wait until later… regardless if you are buying or selling you need to be across changes to stamp duty and state level Government grants.

Mon, 31 Oct 2011 00:35:00 GMT

Changes to stamp duty and state level grants will affect the timing of when you buy and sell property. Make sure you are completely across the changes.

Stamp duty regulations and availability of grants related to property purchases changed across many of the states in the recently announced budgets, with the changes potentially having a significant effect on purchase costs associated with buying a property.

Any prospective purchaser, vendor and industry professional needs to have a firm understanding of how the rules are changing, what the dates are when the changes come into effect and how these changes may impact their purchase or sale timing.

For example, owner occupier buyers in Queensland who purchase a home prior to August 1^st will save $6,575 in stamp duty based on the owner occupier concessions being scrapped after this date.

In South Australia both buyers and vendors needs to be aware that the first home buyers grant will start to be phased out in July 2012. First time buyers purchasing before that time will be $4,000 better off. Prospective vendors with a home that would appeal to first home buyers may consider listing the property well before the cut off when this market is likely to be more active.

NSW aside (they haven’t released their state budget yet for 2011/12), significant changes to stamp duties payable and grants available were made in Victoria, Queensland, South Australia, Tasmania and the Northern Territory.

As a quick rundown on some of the changes:

Victoria: – an initial 20% reduction in stamp duty for first home buyers which will increase over time. For settlement dates on or after 1 July 2011, land transfer duty rates will be reduced for eligible first home buyers purchasing their principal place of residence (PPR) valued up to $600,000. Land Transfer Duty will be reduced by 20 per cent on 1 July 2011, followed by additional 10 per cent cuts on 1 January 2013, 1 January 2014 and 1 September 2014, totalling a cumulative 50 per cent reduction for settlement dates on or after 1 September 2014.

Additionally, the first home bonus and regional bonus will be extended to 30 June 2012, providing first home buyers with a $13,000 bonus for newly constructed homes and an additional $6,500 if the new home purchase is in a regional location.

Queensland – owner occupier buyers not purchasing their first home will no longer receive a stamp duty concession after 31 July. Prior to 31 July, an owner occupier purchase of a house for $350,000 will pay $3,500 in stamp duty; after this the rate payable will jump to $10,075. If you are considering buying, it makes a great deal of financial sense to get in before the stamp duty rise kicks in.

New home buyers will benefit from a short term $10,000 ‘Queensland building boost grant’ which will be available on newly built homes purchased prior to the start of 2012.

The $7,000 first home owner’s grant remains in place.

Stamp duty rates have also changed, so make sure you check the latest tables.

South Australia – there are no changes to stamp duty charges, but the state level First Home Buyers Grant will be phased out by July 1, 2013 starting with a halving of the grant on July 1, 2012.

Tasmania – there are no changes to stamp duty charges, but the concession available on land purchases for first home builders is no longer available. The concession that was available to first home buyers for established dwellings has also been scrapped in the latest budget.

Northern Territory - there are no changes to stamp duty charges, but the NT Government has introduced a ‘BuildBonus’ providing a $10,000 incentive for purchasing or building a new home. Note that the Northern Territory will maintain the concession available to first home buyers and owner occupier buyers.

Make sure you understand the rules around dates – do they relate to contract date or settlement date. Also make sure you know where the cut offs lie as there are price limits applicable to stamp duty concessions and grants.

Getting a firm understanding of the ins and outs of state level transaction charges and benefits is essential to ensure you are maximizing the timing of your purchase or sale.

Source: RP Data