Two in three Tempe homes are separate houses, and more than four in ten are owned with a mortgage, well above the NSW figure.
Whether the property is flood affected under council planning, and whether it can be insured at a reasonable cost. Lenders require building insurance from settlement, so getting a quote before you exchange avoids a surprise. Flood planning certificates come through the contract and council.
Two thirds of the homes in Tempe are separate houses on their own block. Valuers have plenty of comparable house sales to lean on, which tends to make valuations predictable. Terraces and semis are a familiar sight in Tempe, at 26.6% of the housing.
Shared walls and older building fabric are where a building report earns its fee. Mortgaged homes are 42.2% of the stock, well above the state figure. Plenty of those owners are now upgrading, refinancing or helping the next generation in.
Separate housesTownhouses and semisApartments
apartments NSW 21.7%
separate houses NSW 65.6%
terraces and semis NSW 11.7%
rented NSW 32.6%
with a mortgage NSW 32.5%
private dwellings
Source: ABS Census 2021, Suburbs and Localities (SAL13800).
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Charles at Links Property Finance made buying our first home so much easier than we expected. As first home buyers, we had a lot of questions around borrowing capacity, our deposit and the different government schemes available to us. Charles explained everything clearly, compared different lenders and kept us updated throughout the whole process. He was always easy to reach and made sure we understood what was happening from pre approval right through to getting our home loan approved. We would definitely recommend Links Property Finance to anyone looking for a mortgage broker, especially first home buyers who want someone to guide them through the process.
Highly recommend Charles! Professional, knowledgeable and very easy to work with. He helped us navigate the home loan process and found a great solution that suited our needs. Excellent service from start to finish.
Charles looked after us really well and his knowledge gave us the confidence to purchase our property. He wasn’t pushy and always ensured we felt comfortable with the repayments.
A lender needs the property insured from settlement, usually with the lender noted on the policy, and it will not settle without it.
For homes near a river, the cost and availability of cover can depend on flood risk, so it is worth getting an insurance quote before you commit rather than after. Our guide to flood and bushfire prone property explains how lenders treat it.
The planning certificate attached to the contract states whether flood-related development controls apply to the land. That information matters for renovations and for your own reassurance, and in some cases it can affect the valuation.
Reading it early, and asking your conveyancer about anything unclear, avoids surprises. Questions to ask before you offer
Charles Touma, Mortgage Broker.
Tempe lies about nine kilometres south of the city in Inner West Council, on the northern bank of the Cooks River, where the Wolli Creek waterway also meets the river. The Alexandra Canal separates it from Sydney Airport. Tempe station is on the Illawarra line.
Its commercial strip runs along the Princes Highway, including the Tempe Hotel and the Riverview Hotel, first built in 1922, and Unwins Bridge Road is its other main road.
In New South Wales the planning certificate from the council is attached to the contract for sale, and it states whether the land is subject to flood-related development controls, among other planning matters.
Councils also publish flood studies and maps for areas along rivers and creeks.
If flood controls apply, they mainly shape what you can build or change, such as floor levels for new work. Your conveyancer can explain what applies to a particular property. Questions before you offer.
Insurance is an ongoing cost of owning, and lenders include it in your living expenses. Where flood cover lifts the premium, it affects how much you can comfortably borrow as well as your monthly budget.
Getting a quote for the specific address before you commit is the simplest way to know the real cost. Estimate the cost of owning.
Where flood-related controls apply, extensions and new buildings may need to meet requirements such as minimum floor levels, which can affect the design and cost. Lenders funding renovation work want the approvals in place, and the approval will reflect those controls.
Allowing for them in the budget from the start keeps a construction loan on track. Renovation lending.
Three kinds of Tempe home, and what each means for the loan.
The checks that matter in a riverside suburb.
Yes. Lenders require building insurance from settlement, usually with the lender noted on the policy, and will not settle without it. For an apartment, the strata scheme holds the building insurance, and you insure your contents.
The planning certificate attached to the contract states whether flood-related development controls apply to the land. Councils also publish flood studies and maps, and your conveyancer can explain what applies to a particular property.
Not usually by itself. Lenders need the property to be insurable and acceptable as security. Flood risk can affect insurance cost and, in some cases, the valuation, so checking both before you commit is sensible.
It can. Lenders include insurance in your living expenses, so a higher premium reduces the income available for repayments. Getting a quote for the specific address shows the real figure.
Usually, but the work may need to meet requirements such as minimum floor levels, which affect the design and cost. The approval will reflect those controls, and a lender funding the work wants the approval in place.
It is often worthwhile. More than four in ten Tempe homes are owned with a mortgage, and a loan taken out a few years ago may no longer be priced competitively. Asking your lender to review the rate, then comparing the answer, is a simple first step.
Bring your Tempe plans to a free 30-minute call: your borrowing range, the lenders that fit the property and your next step.
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General information only, not credit or financial advice. Lender policies and government scheme criteria differ and change over time. All lending is subject to individual assessment and approval.
