News

Tips for buying property in 2016

By Amy Pryor

Since restrictions on lending have come into play, buying property might seem a little bit more challenging. There are still investment opportunities across the country and buying property continues to be an achievable goal. Here are some tips if you’re preparing to buy in 2016.

Do your homework

Spend some time researching before you embark on your buying journey.

The Australian property market is made up of vastly different markets and sometimes the smarter purchase is one in a state or region you haven’t considered before. Researching can help make sure that you make more informed decisions and can be the difference between a good and a great buy.

Set some goals

Whether you’re buying your first or fifteenth property, it’s important to know what you want to get out of your purchase. Buying property – whether to live in or rent out – is a long-term investment, and is an important step in your financial journey.

Setting a strategy allows you to plan for the long-term. Reviewing your strategy each year can help determine how you’re tracking as well as make sure you can adjust your plan as your goals and ambitions change over time.

Having a long-term strategy in place can also help in making sure you can afford your mortgage repayments over the life of your loan.

Seek help from a professional

Navigating through the process of organising the right finance to buy a property is complex, no matter how many times you’ve done it in the past.

Things change constantly; rates go up and down, fees are adjusted, new products and features are launched. And let’s face it, there are way too many options out there to compare on your own. Whether it’s a brand new home loan or refinancing an existing one, a mortgage broker has the ability to find the most suitable options to align with the goals you’re trying to reach.

Source: Loan Market

For more information please contact Ray White Real Estate Narraweena 9984 7100 Ray White Real Estate Narrabeen 9970 6777

Up to Date

Latest News

  • 6 Things To Do Before You List a Property

    1. Research & plan Before you consider selling, research the market, focusing on properties in your area. Is it a good time to sell? Where do you intend to move next? What’s your budget, including moving? You don’t need all the answers, but you should develop a clear set of goals … Read more

    Read Full Post

  • 2017 Federal Budget Highlights

    Federal Treasurer Scott Morrison’s second budget was delivered this month to Australia, with a range of changes for first home buyers, property investors and older Australians looking to downsize. Overall, the measures are designed to free up more development land and get first home buyers into the market sooner. Here … Read more

    Read Full Post