Making the decision to buy your first, second or even last home is one of the biggest decisions you will ever have to make, so it is important to get the right professional advice.
As there are so many home loan options out there, working with the right broker can make this a much more simplified process. The brokers at Mortgage Basics can assist you with establishing a budget to suit your exact lifestyle requirements and best of all, there is no obligation.
After you have worked out your income, expenses, savings and probable house price, it is time to do a detailed budget so you know exactly what to afford. There are many costs associated on buying a new home. Naturally a large portion of this is the actual price of house, however you might be surprised how much additional costs there are once you have gone through the full process of buying, mortgaging and settlement.
Investing in Australian property can be an excellent way to build wealth especially in this ever growing real estate environment. When planning to buy your first home however, you need to consider several factors probably most critical being which financier or lender and home loan product you should apply for. Choosing the right home loan product can make all the difference on your equity growth. The gap between an “unsuitable” choice and the best home loan in the Australian market typically means years in terms of payback time and building equity.