A home and the two people who live in it, standing beside it

Published  · 1 min read

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Your first result, what you own less what you owe, in about five minutes.

Once you verify your email, the app opens on Add property, one page. About five minutes later If sold opens: what you would have if you sold it today.

1. What should I have to hand?

A shoebox of statements with its lid off beside it, and one statement lifted out

The property's address, the contract date and the price you paid, from the contract of sale. The weekly rent if it is rented, and your income this year before tax.

If there is a loan on it, your latest loan statement as a PDF. It fills in the address and the loan for you to check.

2. What does Add property ask?

A contract on a plate, signed with a pen on its line

One page: the address, the contract date and the price you paid, whether you have lived in it or rented it out, and whether there is a loan on it. Then a little about you: a HELP debt, your income this year and whether you are an Australian resident for tax. You are its owner, and anyone you own it with is added later.

You are not asked what it is worth now. PropRetire moves the price you paid by the local market. With a loan, the loan comes next on one page. Select Add property.

No property? On Setup, add a bank or super account instead. Loans and the rest go in later, as Setup shows.

3. Where is my first result?

A sum of coins, the property's value, with the debt taken off onto a plate of its own, and what is left, the equity

Saving opens If sold: the cash a sale today would leave, once the loan and selling costs are paid, with the tax where your records allow it. Under it, To make this answer closer lists what would sharpen it. Portfolio position then shows what you own, less what you owe.

4. Can I see an example first?

A tray, the one file of a household, holding two houses, a stack of coins for the loan, a shorter one for cash and a page of income

Yes. See an example first, on Add property and on Setup, opens the Mitchell household. They are made up, their figures come from the same calculations as yours, and nothing in it can be changed.

Every page of the example says so, with Start with your own to come back.

5. What comes next?

Three people at a long table round an open laptop

Setup names the next record to add and the results waiting on it, such as a loan for Refinance or income for Current cashflow. Setup walks through it.

See it for your own rentals

A home's records filed

Keep your rentals, loans and offsets in PropRetire, and its pages work figures like these out for your own.

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