Purchasing property is a huge part of any Australian's life, especially if you're a first home buyer. One of the largest financial commitments you can make is just on the horizon, so it's important to do thorough research and figure out the best type of home loan to facilitate the purchase of real estate in Surfers Paradise.
First Home Buyers
For those taking their first foray into the real estate market, it could be worth giving some thought towards taking out a fixed-rate home loan. These mortgage products are a more stable option for novice buyers, with an interest rate fixed for a certain period of time – usually between three and five years.
This can help people adjust to make regular repayments, with the stability allowing for future planning and budgeting. These loans are also unaffected by changes to the official cash rate, protecting buyers from base interest rate fluctuations.
Experienced Buyers
For the more experienced in the market – whether this be second home buyers or property investors – a variable-rate home loan could be a good option to consider. Unlike fixed-rate, a variable mortgage can be affected by changes in the economy.
This makes these products a great choice for those interested in watching the market and making planned-out moves, in order to help secure the best mortgage options available – including low interest rates.
Addressing the Real Estate Crisis: A Closer Look at the Challenges and Opportunities As I touched on in my previous market update, the primary cause of our current housing crisis is the lack of supply. The continually rising costs of building only compound the issue, particularly in the affordable segment … Read more
Australia’s Housing Shortage: Looking Beyond the Headlines Hi, Andrew Bell with you once again. Let me begin by wishing you and your family all the very best for the upcoming Easter break. It’s such a meaningful time for many and marks our last significant holiday for the year. As my … Read more