Are you currently thinking about buying, renting or selling a house? Maybe you are in the market right now for a new home and need to sell your old place first, or perhaps you are looking to move out into your first shared rental with friends, and are worried that you will not be able to finance it. It is always best to be completely prepared when looking at property, no matter whether you are buying it, selling it, renting it, or investing in it.
Australia currently has the highest mortgage repayment rates of any country in the world, and purchasing out of your price range is not something to be taken lightly. It may be that you need to get out of your current living situation fast and paying out of your price range is necessary, or maybe you and your partner have just found your dream home and can’t quite afford it. In these situations, you do have options, and we would like to offer you some handy tips to think about before you take the first step.
Use the tools available to you: There are finance tools available on the Internet as well as from financial advisors that should not be overlooked. Tools like Loan Repayment Calculators and Budget Planners are worth their weight in gold, and can help you to figure out whether you do have the money to spend. Financial advisors can also assist above and beyond with working out if you do have the money to spend now, whether or not you will have it in the future, and they can also offer some financing options to help you along the way.
Finance options: There are many financing options available to you, whether you need some help with repayments, need a loan to purchase a property or to pay off the property you already own, or just need some assistance with rent agreements or payments. Debt consolidation ; putting all your debts into one easy to manage payment, or loan financing; replacing your existing loan with another loan -are two of the options that could suit your situation.
Watch the market: If you are only at the first stage of buying, selling or renting and are just thinking about making a change, make sure to watch the property market. Although sometimes the market does not change rapidly, it is a good idea to continue to check the market in your city and in particular watch the prices around the areas you are looking to buy or rent.
Seek financial advice: Financial advisors are on your side in the process, and can assist you with all of the above tips. They can offer financial options if you think you might not be able to come up with the money for that dream home, can assist with budgeting plans and sorting out repayments, and most of all can set you on your way to being debt free before you have even signed the lease. Financial advisors work solely with you and/or your partner, and each solution they offer will be tailored to your particular situation, no matter what it may be.
So don’t give up on buying that dream house, moving out of home, or even selling your existing property because of financial concerns. Seek help now and let the qualified, experienced and friendly team at lifeafterdebt.com.au help you to get on your way to being fully informed. So why not contact lifeafterdebt.com.au today to find the perfect financial plan for your personal needs. Contact us on 1300 237 669 for debt advice and assistance.