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Potential Interview Questions – Year 10 Commerce
|Personal Details |Employment - why did you choose that profession? |
| |How did you work out your salary? |
| |Do you think it’s a realistic job for your age? |
| |If a pair: why did you choose to purchase a property together? |
|The Property |Give me 2 reasons why you think this property is a good investment. |
|Benefits of the property |Why purchase an investment property instead of shares? |
| |What are your reasons for spending your money rather than saving it? |
|The factors to consider when choosing|What do you think are important things for a buyer to consider? |
|a property |Why did you choose this property over another? |
|Raising a deposit and financing a |What government taxes are you required to pay as part of your property purchase? |
|loan |Tell me the disadvantages and advantages of choosing a variable rate home loan over a fixed one. |
| |How would you cope with extra (hidden) fees and costs that you didn’t expect if they arise? |
|Making the repayments and the |What could happen if you don’t make the monthly repayments on your home loan? |
|consequences of poor financial |Explain some of the key mistakes made in regards to financial management when purchasing a property. |
|management | |
|Taxation considerations such as |What does the term ‘capital gains’ refer to? |
|negative gearing, tax payments on the|What tax will you need to pay because you have purchased this property? |
|rent earned and capital gains made on| |
|sale of the property | |
|What to look for when inspecting a |Have you been to inspect the property? |
|property |What are important things to look for in an inspection? |
| |Is it the buyer or the sellers responsibility to provide a pest inspection and building inspection report? |
|Will renovations be needed and |Do you need to renovate your property? |
|meeting the costs of such renovations|How will you pay for any needed renovations? |
| |What is your timeframe for completing the renovations? |
|When and how to buy (e.g. auction, |Did you purchase your property at auction or private sale? |
|private sale) |Explain 2 differences between those types of sales. |
| |What are some things to be careful in purchasing at auction? |
|Avoiding the key mistakes that |What are some of the key mistakes first home buyers make? |
|first-home buyers make |How are you planning to avoid making those mistakes yourself? |
|Buying tips when negotiating a |How do price negotiations work? |
|purchase |Is it ok to haggle and put in an offer for a price lower than advertised? |
| |What is the process of placing / accepting an offer? |
|Auctions – how to be the winning |How do auctions work? |
|bidder |Tell me the steps involved in a property auction. |
|What will you do with the property |What are your plans for this property now that you have purchased it? |
|once you have purchased it |How will you go about finding a good tenant to rent it? |
| |Are you planning on living in it for a period of time first? Why? |
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