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.
When deciding on the best place to raise or relocate your family, there are several boxes to tick: a safe neighbourhood; educational opportunities; ideally, sunny weather; among other factors. Queensland is known for its box-ticking way of life — attracting families from all over Australia. To help you identify the … Read more
Issue 11 | Thursday 1 June 2023 | Housing Trends, Supply Shortage, and Call to Address Homelessness Hello, this is Andrew Bell. The weather here on the Gold Coast over the past few weeks has been truly breathtaking. As residents, we fully understand why it’s considered one of the … Read more