Not sure what suburb you want to live in? These questions will help you work out if the area is right for you. What places do you visit regularly, for business or pleasure? Are they easy to access from here? What is the local crime rate? What are the local schools like? Where are the…
Before launching into house hunting, it is important to have a clear idea of the house you are looking for, and particularly which factors are top priority, and which rank lower on the list. This worksheet will help you clarify this. Note down your preferences next to each criteria and rate them from 0 to…
If you are not able to secure a traditional home loan, there may be other options available to you to be able to buy your new home. Here are some ideas to finance your home creatively. Look into Government support and assistance programs for home buyers. Ask a family member or close friend for help,…
Applying for a home loan can be confusing and daunting, especially if this is your first time buying a house. Here are some questions you could ask your mortgage broker to make sure you are clear on the process (and get the best deal). What is the most common mortgage you offer? Why? What type…
Term – this is the length of your home loan or mortgage, which could be 25 years, 30 years, or something else. Longer term mortgages usually have a lower monthly payment, but you will pay more interest over the life of the loan. Fixed interest rates – fixed interest rates (generally) do not change over…
Are you working towards securing a mortgage in order to buy a house? Here is what you can do in order to get ready to apply for a home loan and be successful! Create a budget. Saving for a house deposit and being prepared to pay mortgage payments over time means having a strict budget.…
Your credit rating will impact the mortgage you will be able to get. Having a low credit rating will mean you may have significantly less favourable terms for the loan, or may not be approved at all. Here are the factors which come into play when it comes to your credit rating Payment history Current…
Knowing where you stand with your budget, so you know how soon you can save up a house deposit and what you can afford in terms of mortgage repayments, as well as other costs associated with buying and owning a home. To work this out you will need to start by tracking and assessing your…
Find a real estate agent you can trust. It makes all the difference to have a professional real estate agent walk through the process with you step by step. Thoroughly investigate mortgage options, find the best one before and get pre-approved for a loan. Make a realistic estimate of the sale price you can afford,…
Looking for your new home can be a challenging experience. Here are a few tips to keep in mind as you set off on house hunting. Before anything else, make sure you are prepared before you start seriously house hunting. There’s nothing worse than finding the perfect home and missing out because you don’t have…