Refinancing a loan is an attractive option when interest rates drop. A refinance allows you to obtain a new loan with a lower interest rate, which can save you money on monthly payments and over the long term. However, before refinancing, it’s important to understand
Purchasing a vacation home can be a dream come true, but it can also be expensive. If you’re struggling to keep up with the payments on your vacation home, refinancing might be a smart move. Here are some things to consider when deciding whether or
Property investing is a tool that a lot of people on the millionaires’ list use to build wealth. Ironically, only 20% of people living in Australia are property investors. The number goes smaller towards the lower age brackets. The reason behind this might be because
The decision to upsize your family home is often years in the planning and part of your long-term wealth strategy, but sometimes life can spring the change on you. The work-from-home movement has encouraged many owners to seek more significant properties to take calls in
If you haven’t organised a loan pre-approval for your first home, then shopping for a house is like walking into a store without your credit card. When you find your ideal property, you won’t be able to move quickly because organising finances takes time. And
As the Reserve Bank of Australia (RBA) raises the rate yet again, homeowners with variable rate home loans are feeling the pinch. The increase in mortgage costs has put a strain on household budgets, particularly as many fixed-rate loans are expiring this year. If you
Compared with cheap interest rates that Australians enjoyed in the middle of the Covid-19 lockdowns, interest rates are at a massive height today. Due to the imbalance that the pandemic brought on, the world is trying hard to recuperate, especially against the pains of soaring
If you’re an aspiring property investor in Australia, chances are you’ve encountered the concept of “rentvesting.” This forward-thinking approach has surged in popularity over the past few years, enabling individuals to delve into the real estate market while maintaining their desired lifestyle and safeguarding their
Understanding Pre-Approval Getting pre-approved on a loan increases your chance of getting your desired home. How? Read on to find out. A pre-approval is also called approval in principle. It expresses how likely a lender you have submitted an application to is to approve the
Understanding the distinction between bank valuations and market valuations is essential for property buyers as it can often be confusing. There are two different types of valuations that can determine the value of a property. Aa. property investor or homebuyer, important to grasp their differences.
At the end of your fixed term, your home loan will typically revert to your lender’s standard variable rate. This transition can have financial implications, as standard variable rates tend to be higher than other deals on the market. Staying with your current lender may
Housing is the biggest expense for any international student. Renting is a top choice, but rent is exorbitant in some key business areas like Sydney. It’s so high that some would rather pay a monthly mortgage for the same price range. Sometimes, the monthly rent
Affordable homes have always been at the top of every Australian’s demand from the government. A dream that influenced votes over the weekend. Coming out of an apparent victory, Anthony Albanese of the Australian Labor Party is Australia’s 31st minister. Will the demand for low-cost
A lot of people aspire to get into the property market, but obviously, it’s not easy. Otherwise, every Australian would be owning a rental home by now, given the great returns the property market offers. One thing that hinders people is, first, the problem with
When done right, investing in property can help you build wealth for your future. In Australia, properties are currently a smart investment. Many people are enthusiastically jumping into the market to make the most of the current low-interest rates to make their first investment. But