01 Jan Get Real Estate Ready For 2019
Looking to buy a house in 2019? Whether you’re a first home buyer, investor, or a mature homeowner looking to downsize, we can help you get ready for your journey. These are our top tips to get you prepared!
First Home Buyers
Plan your budget
Crunch your numbers to work out how much you can afford to spend and be realistic. Understanding your limits will ensure you’re happy and within budget.
Clear your existing debt
Make your home loan your top priority and clear any existing debt before embarking on your first home journey. This will free up your finances, relieve some pressure and make your exciting journey easier.
Save the biggest deposit you can
Not only will a big deposit lower the amount of interest you’ll pay on your home loan, it also gives you immediate equity and sends the right message to lenders.
Know your entitlements
Look into a First Home Owner Grant, stamp duty savings and any other breaks you may be eligible for; you could save thousands.
Research is key
Do your research on the market and learn the industry trends. What homes are selling, what’s renting well and what are the best locations? Finding the right property in the right suburb is the most important thing for future success.
Buy for the right reasons
Perhaps you’re thinking of buying a house that risks making a loss for the first few years and writing it off with negative gearing. Property investment is about making capital gains; it’s a long-term commitment, not a short-term tax break.
Consider using equity in your current property
Allocating some of this wealth could allow you to borrow more for your investment and will increase tax deductions.
Think about the National Rental Affordability Scheme
Buying a property that’s attached to this government scheme could allow you to claim financial incentives.
Get your current home valued
Find out how much your home is worth now to help you set a budget for your new one. Get a variety of valuations and choose the one that’s the most sensible. Make sure you factor in legal costs, taxes and expenses when arriving at a final figure you want to spend.
When you’re moving to a new home it’s the perfect time to get rid of your excess possessions. Take your time deciding what you can realistically take with you. If you don’t love it or absolutely need it, sell it, give it to family or donate it. Check out the Marie Kondo approach to de-cluttering that everyone’s talking about.
Plan for the profits
What will you do with the money you make from downsizing? Perhaps think about reinvesting in new property with a big deposit to slash the mortgage payments. After you’ve had that well-deserved around the world trip, of course.
If you’re looking for property in 2019, our highly experienced team of local experts will guide you every step of the way. We get people from all walks of life into their own homes.
Call one of our friendly team today on +61 8 9483 0000 or visit our website to find out more!