{"id":25198,"date":"2015-04-24T12:00:35","date_gmt":"2015-04-24T02:00:35","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=4198"},"modified":"2015-04-24T12:00:35","modified_gmt":"2015-04-24T02:00:35","slug":"9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/","title":{"rendered":"9 Money lessons to teach your children | What\u2019s better capital cities or regional properties | Why to avoid Hotspots | Off the plan purchases + more"},"content":{"rendered":"

 <\/p>\n

In today\u2019s show Michael Yardney<\/b><\/a> tells us the 9 important money tips to teach our children and Pete Wargent<\/b> <\/b>wades into the debate about capital cities versus the regions and where we are seeing the best growth.<\/p>\n

Chris Gray<\/b> explains why he is not a great believer in hot spots and tells us where he prefers to invest and why.<\/p>\n

Ken Raiss<\/b> explains about how trusts protect landlords and we get another warning about buying off the plan from Rachel Barnes.<\/b><\/p>\n

Carolyn Boyd<\/b> looks at why so many people are being lured into living in apartments and points out some issues you should take into consideration if you are considering investing in units.<\/p>\n

Plus lot\u2019s more…<\/p>\n

 <\/p>\n

Transcripts:<\/h4>\n

Carolyn Boyd<\/b><\/h3>\n

Kevin:\u00a0 <\/b>There\u2019s no question about it. Apartment living in Australia is certainly surging. There are a couple of reasons for that, possibly. One is affordability. The other one is definitely lifestyle. I read an interesting article that was written by Carolyn Boyd, who is certainly no stranger to us and has written many great blogs on behalf of Domain <\/b>and spoken to us in the show, as well. She joins us.<\/p>\n

Hi, Carolyn.<\/p>\n

Carolyn:\u00a0 <\/b>Hi, Kevin.<\/p>\n

Kevin:\u00a0 <\/b>It\u2019s great to be talking to you again. I was really interested in your piece. I mentioned there about two things: affordability and the other one is all about lifestyle. Are they the only two major reasons, do you think, behind this surge in apartment living?<\/p>\n

Carolyn:\u00a0 <\/b>I think they certainly are the two main drivers, and then there\u2019s also a demographic change with the aging population \u2013 people getting older and then selling off their house and then moving into often a large apartment to downsize.<\/p>\n

Then there\u2019s the other change, as well, some of the cultural change that we\u2019re seeing, particularly people who are moving from other countries who are very used to apartment living actually preferring that style of living over having a house, because that\u2019s what they\u2019ve grown up with.<\/p>\n

Kevin:<\/b>\u00a0 Of course, there are several different profile buyers. There are first-home buyers, downsizers, investors, and I guess to a lesser extent, young families. But developers are certainly responding to this, and a lot of it has to do with land supply, as well, Carolyn, making the most out of the land we have.<\/p>\n

Carolyn:\u00a0<\/b> It certainly does. Particularly in those infill areas closer to the city, it often makes sense to put apartments in those places. In fact, of course, local councils and governments are somewhat pushing that, although that is a bit of an area where people aren\u2019t always happy to have very high-rise apartments, but certainly to get a bit more density close to the city and close to infrastructure to make a reasonable argument to put in more high infrastructure like train lines and light rail lines. You need that population sometimes to drive those projects.<\/p>\n

Kevin:\u00a0 <\/b>Yes, we\u2019re seeing a lot of creativity coming into the planning of some of these high-rise apartments, too, with no need to have as much parking, so there are some releases there from the council but also even in greening. We\u2019re seeing a lot of greening happening on the top of these buildings, Carolyn.<\/p>\n

Carolyn:\u00a0 <\/b>Yes. There are some great projects, Kevin, where you\u2019re seeing green roofs. Also, There\u2019s a project here in Sydney where they have a device that reflects light back into the internal courtyard or the area between the buildings, so you\u2019re seeing some innovation come through, which is fantastic.<\/p>\n

Some of these roof-space gardens are a good idea because it\u2019s making use of a space previously that may have just had the air-conditioning units and that type of stuff on it. But instead, now you are seeing more examples of where people are putting in barbecues and shared garden facilities that are actually usable space on the rooftop.<\/p>\n

Kevin:\u00a0 <\/b>I know you\u2019ve researched this, Carolyn, as you always do. But for anyone considering getting into an apartment, what are the main considerations they should bear in mind?<\/p>\n

Carolyn:\u00a0 <\/b>I think the old saying, of course, \u201clocation, location\u201d is just as important in an apartment, because you need to be or preferably would be in bigger cities where there\u2019s traffic congestion, close to a <\/b>transport link, and then preferably close also to things like shops and some facilities.<\/p>\n

I think this is something that pops up when people downsize. They often think that they\u2019re going to move to other suburbs, and they end up often sticking around their own suburb but moving closer to facilities that they\u2019ll use as they get older. That\u2019s definitely one thing.<\/p>\n

Another thing is, and this is particularly pertinent if you\u2019re buying off the plan, is to really know who the developer is and who is behind the project. Research that. Go and find out if there have been any problems with previous developments they\u2019ve done. Don\u2019t be afraid to knock on people\u2019s doors and talk to them or ask among your circle of friends to see if they have bought into any of their previous developments. That\u2019s a big one.<\/p>\n

Another important one \u2013 again particularly for off the plan \u2013 is understanding the apartment size and layout, and when you look at those plans, what that really means, how big those rooms really are, and what you\u2019ll really fit into them. Sometimes it\u2019s quite difficult to get your head around that when you\u2019re looking just the floor plan.<\/p>\n

Kevin:\u00a0 <\/b>I guess other important considerations, as well, Carolyn, if you are downsizing, there\u2019s a likelihood you\u2019re going to have a pet, so maybe even check with the body corporate <\/b>on what you\u2019re allowed to have with pets.<\/p>\n

Carolyn:\u00a0 <\/b>Yes. Some apartments do now allow pets, and that\u2019s fantastic, but you do need to know. I have heard sad stories where people have thought that the development they\u2019re buying into is pet-friendly and found out later on that it\u2019s not, and that obviously creates a huge difficulty because your pet is often part of your family and it\u2019s very hard to move without taking them with you.<\/p>\n

Kevin:\u00a0 <\/b>I guess still for younger buyers, you have to consider what\u2019s coming up in the next five to ten years. If you\u2019re going to start a family, maybe apartment living isn\u2019t going to suit you, so you would want to move out of that and then have it rented, so making sure that it\u2019s in one of those areas that is going to attract good tenants, Carolyn.<\/p>\n

Carolyn:\u00a0 <\/b>I think that\u2019s absolutely right, Kevin. It\u2019s often hard for people in that pre-child stage to imagine what it\u2019s going to be like next and to understand just how much of an impact having children has on the way you live, so do think of that. \u201cIs this something I could live in for a while? If I do decide to start a family, can I live here? Or if not, can I rent it out?\u201d<\/p>\n

Therefore, you would be looking a bit more from an investment perspective then \u2013 looking at vacancy rates in a local area, looking at how quickly you might be able to sell that apartment if you need to. Is it going to be one of hundreds of similar apartments on the market, or is it something a little bit different that would stand out from the crowd if you need to sell it?<\/p>\n

Kevin:\u00a0 <\/b>Thanks for your time. Carolyn Boyd, thank you.<\/p>\n

Carolyn:\u00a0 <\/b>Thanks, Kevin.<\/p>\n

 <\/p>\n

Chris Gray<\/b><\/h3>\n

Kevin:\u00a0 <\/b>A question I\u2019m asked all the time is, \u201cIs there really a hotspot?\u201d I guess this comes about because people love to think they\u2019re going to get there before the rest of the crowd. I\u2019m interested to know about this, and it\u2019s a conversation I\u2019ve had a number on a number of occasions with Chris Gray, who is a buyer\u2019s agent from Your Property Empire and also a host of the Sky TV show of the same name, Your Property Empire<\/i>.<\/p>\n

I wonder, Chris, does this come up in your dialogue with people, as well?<\/p>\n

Chris:<\/b>\u00a0 You\u2019ve hit the nail on the head there. Everyone wants a bargain, everyone reckons they got it for the cheapest price, and everyone thinks they got into the right area \u2013 the next up-and-coming one \u2013 at the right time.<\/p>\n

Definitely, there are hotspots around Australia and around the world, but it\u2019s like picking stocks; if you really are a genius and you can pick the lows and highs, you can make a fortune probably even if the market is going down if you pick the right kind of properties. But even the experts at Residex, RP Data, and SQM Research, most of those guys say they can understand trends but they can\u2019t pick the peaks and the troughs.<\/p>\n

I\u2019ve been buying property for 20 years \u2013 we buy maybe 50 or 100 per year \u2013 but we don\u2019t try and do that. Most of our clients are generally higher income. They\u2019re not trying to get rich overnight. They know that slow and steady wins the race, so more they\u2019re going for the classic Bondi Beach in Sydney or St. Kilda down in Melbourne, and they\u2019re trying to say, \u201cI want nice consistent growth. If a GFC comes up, I don\u2019t want it to halve in value. I don\u2019t expect it to double, but a nice 5% or 10% forever suits me.\u201d<\/p>\n

Kevin:\u00a0 <\/b>I remember back, and I\u2019m sure you would too, several years ago when one of the major hotspots was anything around a mining town, and I guess you only have to look at some of those now to realize that while they may have been hotspots in their time, they can also crash as fast as they can go up.<\/p>\n

Chris:\u00a0 <\/b>That\u2019s the problem. We\u2019ve had lots of clients who have gone to the seminars and gone to the various property expos \u2013 you can always tell what the flavor of the month is by the property expos, whether it\u2019s U.S. property or mining or whatever else \u2013 and they\u2019re saying, \u201cI\u2019ve got 25% yield and X percent growth,\u201d and all the rest of it, but now they\u2019re potentially getting zero yield and suddenly their $800,000 property is only worth $400,000.<\/p>\n

That\u2019s the thing. A lot of the seminar people have all the knowledge and they know what they\u2019re doing and they\u2019re getting in and out at the right time, but unfortunately the average punter on the street quite often is getting in a few years too late and they\u2019re going to miss the boat.<\/p>\n

Kevin:\u00a0 <\/b>Generally, I find people who are looking for hotspots are really looking to get in and out quickly, as opposed to the strategy you\u2019re talking about there, which is blue-chip, which I guess is buy and hold. Chris, is it?<\/p>\n

Chris:\u00a0 <\/b>It is. You do a regular radio program, and I do a regular TV program. The hardest thing for me is to try to talk about something new, because in my mind, in my book, nothing has changed for 10 or 20 years, because those suburbs haven\u2019t really changed. We just buy when we have the cash to buy and we hold on.<\/p>\n

It\u2019s not sensationalism; there\u2019s nothing newsy about it. It\u2019s kind of boring. They\u2019re not the most beautiful properties. They\u2019re the ones a block back that are kind of dirty and old, but they\u2019re in the best locations and we can improve them.<\/p>\n

It\u2019s not newsworthy type stuff; it\u2019s the old hare and the tortoise. The tortoise just keeps going, but at the end of the day, it reaches the end. Whereas if you\u2019re the hare, maybe it works out one decade, maybe it doesn\u2019t work the next.<\/p>\n

Kevin:\u00a0 <\/b>Chris, with blue-chip types of properties that you\u2019re talking about there, are they all necessarily inner-city properties, or do they vary in their location?<\/p>\n

Chris:\u00a0 <\/b>My philosophy from going to lots of seminars and reading lots of books is that I typically avoid the CBD because there\u2019s no limit of supply \u2013 generally, you can keep building these massive towers \u2013 and there\u2019s limited demand, because not everyone wants to work in the heart of the city, especially when they have families and they want fresh air and everything like that.<\/p>\n

I\u2019m an advocate of going the 5 K to 15K \u2013 or 2K to 15 K in certain suburbs \u2013 to get the area where there are three-story-high limits, so there\u2019s no more supply of property. All the properties are built up next to each other, so you can\u2019t physically build another property. There\u2019s lots of demand from the young professionals, the 25- to 35-year-old suits who will always have jobs\u201d<\/b> because they\u2019re young and adaptable. They probably have wealthy parents, as well.<\/p>\n

They might be earning $75,000 to $100,000 each, so you get two people in a unit and they\u2019re earning $200,000 or $300,000. That\u2019s why these young people can afford million-dollar properties and million-dollar rents \u2013 because they\u2019re earning a lot of cash.<\/p>\n

From what I\u2019ve heard from Residex, who has come my show for donkey\u2019s years, he says affordability is a problem around Australia and around the world, but it\u2019s not in these suburbs because these young kids have cash and they have cash to spend.<\/p>\n

Kevin:\u00a0 <\/b>It\u2019s always good talking to you, Chris Gray. You can catch Chris, of course, on Sky TV.<\/p>\n

Chris:\u00a0 <\/b>Fridays at 6:30.<\/p>\n

Kevin:\u00a0 <\/b>It\u2019s called Your Property Empire,<\/i> Fridays at 6:30. Chris, great <\/b>talking to you. Talk to you soon.<\/p>\n

Chris:\u00a0 <\/b>My pleasure.<\/p>\n

 <\/p>\n

Ken Raiss<\/b><\/h3>\n

Kevin:<\/b>\u00a0 A few weeks ago, we answered a question from Dimitri to do with trusts, and following that, I received an e-mail from Will. Will, thank you for that, a follow-up for Ken Raiss, who will be with me in just a momen.t<\/p>\n

The question for Ken comes from Will, and it says, \u201cRe purchasing investment property in my own name versus a trust. On today\u2019s show while answering Dimitri\u2019s question on a similar topic, you stated there\u2019s another issue, as well: asset protection. If you have too many assets in a trust, then if one tenant sues, it could be a house of cards that falls down, and all your assets then in that one trust are at risk.<\/p>\n

\u201cMy landlord insurance policy covers me up to $20 million in liability, I can\u2019t think of any unfortunate situation where all of that would be used it. Is asset protection merely an additional feature of trust structures rather than a predominant reason to set one up?\u201d<\/p>\n

Ken Raiss joins us from Chan & Naylor. Ken, thank you again for your time.<\/p>\n

Ken:<\/b>\u00a0 No, it\u2019s a pleasure, Kevin, and great question from Will.<\/p>\n

Kevin:<\/b>\u00a0 It is indeed. Let\u2019s step about answering it for him.<\/p>\n

Ken:<\/b>\u00a0 Trusts really have four main benefits. Asset protection is one, because you don\u2019t own the assets. Flexibility, cash flow, and estate planning are three other quite significant reasons. You should also have a company as a trustee of your trust, not the individual \u2013 because for asset protection reasons, the company closes the loop.<\/p>\n

While a lot of people say they have insurances and they hope that their insurance cover is enough, we have to be careful: will the insurance company pay off? Because if they believe part of the responsibility lies with you, then they won\u2019t always cover it. Such as you need to do a repair, you may not do it in time, your agent may not tell you in time, or there could be issues with fire.<\/p>\n

A lot of people sometimes are underinsured. If their property burns down, burns down the property next door, they\u2019re up for the difference if they\u2019re underinsured. There are many, many reasons why insurance cover wouldn\u2019t be enough, so that\u2019s one of the reasons then people have limited assets in a trust, just in case.<\/p>\n

But what you can do is you can protect just your equity in a trust by doing things such as the Equity Bank Trust.<\/p>\n

Kevin:<\/b>\u00a0 What is that again, Ken?<\/p>\n

Ken:<\/b>\u00a0 It\u2019s the Equity Bank Trust. What we do is we shift all the equity from either your personal names or from trusts into a much more secure area that carries normally no liabilities. When you do that, you get asset protection without triggering the normal taxes such as capital gains and stamp duty. We transfer the equity, not the physical asset.<\/p>\n

Kevin:<\/b>\u00a0 This is something that can be done through Chan & Naylor?<\/p>\n

Ken:<\/b>\u00a0 Absolutely.<\/p>\n

Kevin:<\/b>\u00a0 We\u2019re hearing some horror stories with rental units, too, where tenants fall off decks or broken steps and so on. That liability issue that you talk about there, Ken, is a very, very real one, isn\u2019t it?<\/p>\n

Ken:<\/b>\u00a0 Correct. I think particularly in today\u2019s environment, we shouldn\u2019t assume the insurance companies will always pay.<\/p>\n

Kevin:<\/b>\u00a0 Yes, indeed.<\/p>\n

Ken:<\/b>\u00a0 They\u2019re looking for reasons, and sometimes they can just drag you through the courts and even if you\u2019re right, the mere pressure of finding money in time means you\u2019re out of pocket and you could lose everything.<\/p>\n

Kevin:<\/b>\u00a0 No doubt, we will have been an early-warning device for a number of people. If you would like to find out more about this, you can contact Ken Raiss at Chan & Naylor. They\u2019re our trusted advisors.<\/p>\n

Ken, once again, thank you for answering Will\u2019s question. Great talking to you, as well, mate.<\/p>\n

Ken:<\/b>\u00a0 That\u2019s a pleasure, Kevin, and thank you, Will.<\/p>\n

 <\/p>\n

Michael Yardney<\/strong><\/h3>\n

Kevin:<\/b>\u00a0 I wonder if you, like me, have asked yourself this question: if only I knew then what I know now, would I have done things differently?<\/p>\n

I\u2019m going to ask that question right now of Michael Yardney from Metropole Property Strategies. Good day, Michael.<\/p>\n

Michael:<\/b>\u00a0 Hello, Kevin.<\/p>\n

Kevin:<\/b>\u00a0 Have you ever asked yourself that question?<\/p>\n

Michael:<\/b>\u00a0 How often have I asked myself that? There are so many things I\u2019d do differently in my personal life, in my business life, and definitely in my investment life.<\/p>\n

Kevin:<\/b>\u00a0 One of the great reasons why you should ask yourself that question, too, Michael, is so we can pass on so much great information to our kids, can\u2019t we?<\/p>\n

Michael:<\/b>\u00a0 Yes, we can, because most of us haven\u2019t been taught how to handle money by our parents.<\/p>\n

Kevin:<\/b>\u00a0 Michael, what lessons should we be teaching our kids?<\/p>\n

Michael:<\/b>\u00a0 Kevin, one of the first lessons is today\u2019s debt can equal tomorrow\u2019s slavery. When we\u2019re young, we tend to think in narrow, short time increments. We want immediate gratification. We don\u2019t often like delaying purchases of things we really want.<\/p>\n

Unfortunately, this leads a lot of young people into a credit trap, where they borrow using high-interest rate store cards or personal loans only to pay back thousands of extra dollars of interest, owing people money for a long time, and that robs them of the ability to use their money in the future to use it more effectively like investing.<\/p>\n

Kevin:<\/b>\u00a0 I suppose when you\u2019re young, too, Michael, you become very blas\u00e9 about debt, don\u2019t you?<\/p>\n

Michael:<\/b>\u00a0 You do. Again, there\u2019s good debt, there\u2019s necessary debt, and there\u2019s bad debt. We\u2019re really here talking about bad debt for toys. We all like our toys, Kevin \u2013 at least I know I do \u2013 but our expectation often is that we see in all these magazines that other people have got the glossy toys, the big computers, the fancy phones. Consumerism is the new black.<\/p>\n

And the truth is positions don\u2019t make for a rich life. It\u2019s the experiences and the people, the things that money can\u2019t buy that makes us truly wealthy, Kevin.<\/p>\n

Kevin:<\/b>\u00a0 Michael, I think, too, sometimes when we\u2019re young, we tend not to take responsibility.<\/p>\n

Michael:\u00a0 <\/b>It\u2019s everyone else\u2019s fault, Kevin. It\u2019s your boss\u2019 fault, it\u2019s the employer\u2019s fault, it\u2019s the government fault. The fact is there are no rich victims. However, unfortunately, people are too quick to blame others for perceived failures in their own lives. Yes, that is a good lesson to teach your kids \u2013 that you actually have to take responsibility for all the things that you choose to do and all the things you choose not to do, Kevin.<\/p>\n

Kevin:<\/b>\u00a0 Indeed, mate. What\u2019s the next one?<\/p>\n

Michael:<\/b>\u00a0 Patience and waiting. In fact, it\u2019s been shown that people who have a longer time perspective and are patient are more likely to achieve things not just financially but in other areas of your life. If you know that it takes time and hard work to invest and eventually get a deposit, save up, get a deposit, buy a property, be patient, wealth is a transfer of money from the impatient to the patient, Kevin.<\/p>\n

Kevin:<\/b>\u00a0 Michael, what about all those lucky people, though?<\/p>\n

Michael:<\/b>\u00a0 Yes, everyone else is more lucky than me. I think you and have been around long enough to know that luck\u2019s made through hard work. Many of us like to attribute the success of others to good fortune or the fact that they had rich parents or they were in the right place at the right time or they knew the right people. In fact, it\u2019s really only a small group of people who\u2019ve lucked out by winning the lottery or successfully been at the right place at the right time.<\/p>\n

Find something you\u2019re passionate about, make a living doing it, and then you\u2019re much more likely to enjoy the work \u2013 it won\u2019t be hard work \u2013 and then you won\u2019t be struggling and you\u2019ll be lucky.<\/p>\n

Kevin:\u00a0 <\/b>How much do you need, really, though, to strive to get financially free?<\/p>\n

Michael:<\/b>\u00a0 It\u2019s interesting when you look at most Australians, they\u2019re going to earn millions and millions of dollars over their lifetime. People don\u2019t believe it, but multiply your average wage by 20, 30, or 40 years of work, and you\u2019ll actually find that you\u2019re going to earn millions, but most people never save it.<\/p>\n

It\u2019s really not how much you earned, but you have to learn to spend less than you earn, save it, invest some of that, and eventually move to the point of becoming an investor. Financial freedom has nothing to do with how much money you\u2019ve earned, but on the relationship you have with money and learning financial fluency, Kevin.<\/p>\n

Kevin:<\/b>\u00a0 I guess the other thing, too, Michael is that you\u2019re not going to remain young forever, are you?<\/p>\n

Michael:<\/b>\u00a0 No, you\u2019re not. I guess one of the ways you can look at it is you can just live for now because you don\u2019t know \u2013 the old \u201ceat, drink, and be merry, because tomorrow you die.\u201d But on the other hand, if you\u2019re young, you have time on your side, and that\u2019s one of the great things about real estate and compounding. It relies on money, but it also relies on time.\u00a0 If you start early enough and start saving and start investing, you\u2019re going to have the universe at your feet, Kevin.<\/p>\n

Kevin:<\/b>\u00a0 Wonderful. The bottom line, Michael?<\/p>\n

Michael:<\/b>\u00a0 Wealthy people do certain things every day that sets them apart from everyone else. Wealthy people have good daily habits that they\u2019ve learned from their parents. These habits are the reasons why the wealth gap unfortunately keeps increasing in Australia. The rich keep getting richer.<\/p>\n

We\u2019re only likely to be as good as the mentors and the people who learn from, so it\u2019s important for us to teach our children good daily success habits and level the playing field. There\u2019s no reason why our children can\u2019t be amongst the wealthy people in Australia.<\/p>\n

Kevin:<\/b>\u00a0 Indeed, and on that note, Michael, we say thank you very much.<\/p>\n

Michael:<\/b>\u00a0 My pleasure, Kevin.<\/p>\n

 <\/p>\n

Rachel Barnes<\/b><\/h3>\n

Kevin:<\/b>\u00a0 Earlier in the show when I was talking to Carolyn Boyd, we mentioned about the number of people who are now buying units, opting to live in apartments, and there are a lot of reasons for that, of course. There are budgetary reasons, but there are also lifestyle reasons.<\/p>\n

Many, many people are drawn to the glossy brochures of the new developments, wanting to get into a brand-new apartment, but there are some things you need to consider if you\u2019re going to be buying off the plan. Many people will warn you not to do it.<\/p>\n

Rachel Barnes is a market commentator. She also has a website called Investor Friendly Agents, working with agents who want to work with investors. Rachel, I\u2019m keen to get your take on this, on what advice you\u2019d be giving to people who are considering buying off the plan?<\/p>\n

Rachel:<\/b>\u00a0 Thanks, Kevin. I\u2019d say buyer beware basically \u2013 whether you\u2019re an owner-occupier or you\u2019re going to be an investor. Generally, I deal with investors, so that\u2019s where a lot of my feedback comes from.<\/p>\n

One of the things I find is that first of all, there\u2019s a price that you\u2019re getting in at, because it depends how you\u2019re buying the property. If you\u2019re buying direct from a developer, it\u2019s normally not quite so bad, but there are a lot of people in between these days, and it\u2019s that in-between where you can pay anything up to at least $50,000 extra for a property than if you had gone direct. There are a lot of commissions to be made for people in this type of environment.<\/p>\n

Kevin:<\/b>\u00a0 Is it a matter of doing your homework and make sure that you\u2019re not going to be paying over the odds, even if it is new and nice and bright and shiny?<\/p>\n

Rachel:<\/b>\u00a0 That\u2019s the thing. If you\u2019re an owner-occupier and even an investor, sometimes you get a bit emotionally attached because of those brochures. But let\u2019s get back to the facts. The fact is if you\u2019re buying an apartment, you have to firstly be careful of how much you\u2019re paying, as you say. That\u2019s going to be one of the key things.<\/p>\n

Secondly, what\u2019s going to happen with that property? What are the body corporate fees going to be? Who\u2019s going to be managing that? What\u2019s the cost involved in that? Is there going to be a sinking <\/b>fund? You need to know all those sorts of details.<\/p>\n

On top of all that financially, if it\u2019s investors, for example, and you\u2019re going into it with, say, 50 other people who are going to be buying at the same time, how many people are going to be putting their property on the same rental market as you? You\u2019re going to be competing basically on price, because there\u2019ll be no difference in other parts of that complex.<\/p>\n

Kevin:<\/b>\u00a0 By definition, buying off the plan means you\u2019re buying off a plan. In other words, it hasn\u2019t been constructed at that time, and you have to take at face value a lot of the assurances given to you by the developer as to what the finishes are going to be like, as well. I\u2019ve seen a lot of people come unstuck in that area, Rachel.<\/p>\n

Rachel:<\/b>\u00a0 Absolutely. Remember, what you see in a glossy brochure is just the artist\u2019s impression. What you actually get can be completely different. That\u2019s where it\u2019s sometimes a lot safer to look at something that\u2019s existing, because you know what you\u2019re getting. When it\u2019s off the plan, the developer could go bad; they could cut back on some things that they hadn\u2019t intended to or that they did intend to, which is even worse.<\/p>\n

You never really know who you\u2019re going to get or what you\u2019re going to get. You have no idea what your neighbors are going to be like, and that can be a huge concern sometimes.<\/p>\n

Kevin:<\/b>\u00a0 I do feel sorry for people who look at developments, have absolutely fallen in love with it, and have made the decision to buy it. What are some of the things that they can do to make sure that they\u2019re not falling into any of these traps?<\/p>\n

Rachel:<\/b>\u00a0 One is just to confirm with the person who\u2019s selling it to you, are they a seller\u2019s agent? Are they getting sales commissions? Let\u2019s get some transparency here. Exactly how much are they making on this deal? Because some of them don\u2019t have to tell you, and they\u2019ll just say they\u2019re receiving commission. You want to know exactly how much.<\/p>\n

If you can talk to the developer, that\u2019s even better, or find out \u2013 through perhaps RP Data \u2013 what\u2019s been sold in that area so you get a bit of an idea about whether that\u2019s going to be a reasonable price.<\/p>\n

Just to give you an idea, I know some overseas investors pay a price for an apartment that may be inflated even five years down the track, because they don\u2019t know what they\u2019re buying, and they don\u2019t know what the comparison sale would be in that area.<\/p>\n

Doing your due diligence on the area is going to be crucial, as well. Have a look around and see where they\u2019re up to in comparison with where they should be. Find out more about the developer\u2019s history. Have they done a lot of developments? Have they got some good groundwork behind them? Are they reputable? That\u2019s some of the due diligence you can do even before the property\u2019s been built.<\/p>\n

Kevin:<\/b>\u00a0 That\u2019s great advice, Rachel. Rachel\u2019s website is Investor Friendly Agents, helping agents work better with investors. That\u2019s who we\u2019re talking to right now. Of course, Rachel is a market commentator, as well.<\/p>\n

Rachel, thank you for your advice, and we\u2019ll talk to you again soon.<\/p>\n

Rachel:<\/b>\u00a0 Fabulous. Thanks, Kevin.<\/p>\n

 <\/p>\n

Pete Wargent<\/b><\/h3>\n

Kevin:<\/b>\u00a0 You might recall last week I was talking to Peter Wargent \u2013 Peter, of course, is a buyer\u2019s agent from AllenWargent \u2013 on the back of a report that Peter wrote that I read in Michael Yardney\u2019s property update, which is where over the next 25 years, through to 2036, Australia is projected to soar in terms of its population by ten million heads up to 32.4 million.<\/p>\n

Peter, I wanted to follow on from our discussion last week. Welcome back to the show. Thanks again for your time. I wanted to ask you about what impact this is going to have as we look at cap city markets versus the regions.<\/p>\n

Peter:<\/b>\u00a0 The latest ABS Family and Household Projections through to 2036 implied that we\u2019re going to need a huge number of households, an extra 4.3 million households, over that time, which will take us to a total of 12.7 million. The projections show where those households are expected to be required. The four markets that will require the greatest number of households will be Sydney, Melbourne, Brisbane, and Perth.<\/p>\n

The greatest number will actually be required in Melbourne \u2013 938,000 households, which is a huge number. But the good news from Melbourne\u2019s point of view is that at least it doesn\u2019t have an inherent under-supply. At least it\u2019s coming from a position of a fair number of dwellings on the market. Sydney, on the other hand, is coming from a position of under-supply, so it\u2019s got a heck of a lot of building to do.<\/p>\n

Kevin:<\/b>\u00a0 What about the Brisbane market? Is that under-supplied at present?<\/p>\n

Peter:<\/b>\u00a0 The Brisbane market is a bit of a two-speed thing at the moment. As you know, I\u2019m living in Brisbane these days. The unit market in particular around the inner suburbs has a huge number of approvals being pushed through.<\/p>\n

The unit market has seen approvals over the last 12 months at record levels \u2013 more than 12,000 \u2013 so as those units start to come online, I suspect we\u2019ll have an over-supply of particularly high-rise dwellings. There\u2019s a new tower to go in, the Skytower on Margaret Street.<\/p>\n

But there are also a lot of approvals for suburbs around the CBD, so I think it\u2019s a bit of a two-speed thing in Brisbane. Particularly, high-rise units will end up in an oversupply position. Houses is a slightly different market there.<\/p>\n

Kevin:<\/b>\u00a0 Last week we talked also about those lone households and the fact that we\u2019re staying in our houses much longer. But with that increase in the number of properties that are required, is that going to reflect in the properties being a little bit different? Are developers going to need to respond to this, Peter?<\/p>\n

Peter:<\/b>\u00a0 Yes, and I think we\u2019re already seeing that to some extent. The increase in the number of childless couples projected and the increase in the number of lone households projected is going to see a huge increase from medium-density type property demand. That average household size is projected to fall to 2.5 over the next 25 years.<\/p>\n

We\u2019re starting to see that already in the latest building approvals numbers. Units and apartment approvals are actually at the highest level they\u2019ve ever been now in Australia, and we\u2019ve approved more than 205,000 dwellings for construction in the last year. That\u2019s a record high.<\/p>\n

Kevin:<\/b>\u00a0 Who will be the winners and losers if we look around Australia at the impact of this over the next 20-25 years?<\/p>\n

Peter:<\/b>\u00a0 The latest population growth figures suggest that interstate migration is actually falling as the mining boom passes its peak or has passed its peak, so therefore we\u2019re seeing a lot more people in Sydney and Melbourne stay put rather than migrate to the mining states. In short, it\u2019s putting a huge amount of pressure on Sydney\u2019s and Melbourne\u2019s property markets and infrastructure.<\/p>\n

In terms of some of the other areas that\u2019ll be winners, we talked last week about some of those Queensland regional markets expected to grow \u2013 Gold Coast and Sunshine Coast \u2013 but also Mackay, Townsville, and Rockhampton are several of the Queensland markets that are expected to see a big rise in demand for property.<\/p>\n

Kevin:<\/b>\u00a0 Pete, always good talking to you. Thank you very much. Pete Wargent, of course, is a buyer\u2019s agent from AllenWargent. Pete, thanks again for your time.<\/p>\n

Peter:<\/b>\u00a0 My pleasure, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"

  In today\u2019s show Michael Yardney tells us the 9 important money tips to teach our children and Pete Wargent wades into the debate about capital cities versus the regions and where we are seeing the best growth. Chris Gray explains why he is not…<\/p>\n","protected":false},"author":176692473,"featured_media":4201,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[24],"tags":[101],"class_list":["post-25198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shows","tag-podcast"],"yoast_head":"\n9 Money lessons to teach your children | What\u2019s better capital cities or regional properties | Why to avoid Hotspots | Off the plan purchases + more - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"9 Money lessons to teach your children | What\u2019s better capital cities or regional properties | Why to avoid Hotspots | Off the plan purchases + more - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"  In today\u2019s show Michael Yardney tells us the 9 important money tips to teach our children and Pete Wargent wades into the debate about capital cities versus the regions and where we are seeing the best growth. Chris Gray explains why he is not...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Realty Talk\" \/>\n<meta property=\"article:published_time\" content=\"2015-04-24T02:00:35+00:00\" \/>\n<meta name=\"author\" content=\"Kevin Turner\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kevin Turner\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"29 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\\\/\"},\"author\":{\"name\":\"Kevin Turner\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/ae5a3b5e891767bd82ad3a068c514329\"},\"headline\":\"9 Money lessons to teach your children | What\u2019s better capital cities or regional properties | Why to avoid Hotspots | Off the plan purchases + more\",\"datePublished\":\"2015-04-24T02:00:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\\\/\"},\"wordCount\":5877,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"keywords\":[\"podcast\"],\"articleSection\":[\"Shows\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\\\/\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\\\/\",\"name\":\"9 Money lessons to teach your children | What\u2019s better capital cities or regional properties | Why to avoid Hotspots | Off the plan purchases + more - Realty Talk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\\\/#primaryimage\"},\"thumbnailUrl\":\"\",\"datePublished\":\"2015-04-24T02:00:35+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/ae5a3b5e891767bd82ad3a068c514329\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\\\/#primaryimage\",\"url\":\"\",\"contentUrl\":\"\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"9 Money lessons to teach your children | What\u2019s better capital cities or regional properties | Why to avoid Hotspots | Off the plan purchases + more\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#website\",\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/\",\"name\":\"Realty Talk\",\"description\":\"Your Trusted Voice For Property Investing. Anywhere, Anytime.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/#\\\/schema\\\/person\\\/ae5a3b5e891767bd82ad3a068c514329\",\"name\":\"Kevin Turner\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d2d83fe833d0cb22c11728d9aa25f73b319e658b72509553eff8680404d8bfa7?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d2d83fe833d0cb22c11728d9aa25f73b319e658b72509553eff8680404d8bfa7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d2d83fe833d0cb22c11728d9aa25f73b319e658b72509553eff8680404d8bfa7?s=96&d=mm&r=g\",\"caption\":\"Kevin Turner\"},\"url\":\"https:\\\/\\\/channels.realty.com.au\\\/realtytalk\\\/author\\\/kevin-turner\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"9 Money lessons to teach your children | What\u2019s better capital cities or regional properties | Why to avoid Hotspots | Off the plan purchases + more - Realty Talk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/","og_locale":"en_US","og_type":"article","og_title":"9 Money lessons to teach your children | What\u2019s better capital cities or regional properties | Why to avoid Hotspots | Off the plan purchases + more - Realty Talk","og_description":"  In today\u2019s show Michael Yardney tells us the 9 important money tips to teach our children and Pete Wargent wades into the debate about capital cities versus the regions and where we are seeing the best growth. Chris Gray explains why he is not...","og_url":"https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/","og_site_name":"Realty Talk","article_published_time":"2015-04-24T02:00:35+00:00","author":"Kevin Turner","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Kevin Turner","Est. reading time":"29 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/#article","isPartOf":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/"},"author":{"name":"Kevin Turner","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/ae5a3b5e891767bd82ad3a068c514329"},"headline":"9 Money lessons to teach your children | What\u2019s better capital cities or regional properties | Why to avoid Hotspots | Off the plan purchases + more","datePublished":"2015-04-24T02:00:35+00:00","mainEntityOfPage":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/"},"wordCount":5877,"commentCount":0,"image":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/#primaryimage"},"thumbnailUrl":"","keywords":["podcast"],"articleSection":["Shows"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/","url":"https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/","name":"9 Money lessons to teach your children | What\u2019s better capital cities or regional properties | Why to avoid Hotspots | Off the plan purchases + more - Realty Talk","isPartOf":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/#website"},"primaryImageOfPage":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/#primaryimage"},"image":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/#primaryimage"},"thumbnailUrl":"","datePublished":"2015-04-24T02:00:35+00:00","author":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/ae5a3b5e891767bd82ad3a068c514329"},"breadcrumb":{"@id":"https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/#primaryimage","url":"","contentUrl":""},{"@type":"BreadcrumbList","@id":"https:\/\/channels.realty.com.au\/realtytalk\/9-money-lessons-to-teach-your-children-whats-better-capital-cities-or-regional-properties-why-to-avoid-hotspots-off-the-plan-purchases-more-2\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/channels.realty.com.au\/realtytalk\/"},{"@type":"ListItem","position":2,"name":"9 Money lessons to teach your children | What\u2019s better capital cities or regional properties | Why to avoid Hotspots | Off the plan purchases + more"}]},{"@type":"WebSite","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#website","url":"https:\/\/channels.realty.com.au\/realtytalk\/","name":"Realty Talk","description":"Your Trusted Voice For Property Investing. Anywhere, Anytime.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/channels.realty.com.au\/realtytalk\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/channels.realty.com.au\/realtytalk\/#\/schema\/person\/ae5a3b5e891767bd82ad3a068c514329","name":"Kevin Turner","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/d2d83fe833d0cb22c11728d9aa25f73b319e658b72509553eff8680404d8bfa7?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d2d83fe833d0cb22c11728d9aa25f73b319e658b72509553eff8680404d8bfa7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d2d83fe833d0cb22c11728d9aa25f73b319e658b72509553eff8680404d8bfa7?s=96&d=mm&r=g","caption":"Kevin Turner"},"url":"https:\/\/channels.realty.com.au\/realtytalk\/author\/kevin-turner\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts\/25198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/users\/176692473"}],"replies":[{"embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/comments?post=25198"}],"version-history":[{"count":0,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/posts\/25198\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/media?parent=25198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/categories?post=25198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/channels.realty.com.au\/realtytalk\/wp-json\/wp\/v2\/tags?post=25198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}