Now the year is well underway, it’s time to plan how you’re going to achieve your new year resolutions and goals. Of course, I probably can’t motivate you to lose weight or exercise more (the most popular choices for resolutions every new year), but I can help you with your property goals in 2020. Here’s how.
NY Resolution Number one: “I’m going to buy my first home in 2020!”
Buying your first home is exciting, and 2020 could be the year to step and do it. Home values have stopped their rapid rise for the time being and loan interest rates are at a record low.
Here are a few things we can work on how to help you get on the property ladder for the first time this year:
- Creating a budget for your home purchase and a savings plan for your deposit, taxes and fees.
- Exploring other alternative ideas for a deposit (like a guarantor’s home loan, for example).
- Clearing debt and/or looking at improving your credit score to make you a more attractive prospect for lenders.
- Determining your borrowing power, how much you can afford to repay, and how much banks and lenders will lend you based on your income and expenses.
- Going through any concessions, grants or other initiatives like the First Home Buyer Scheme.
- Discussing the different types of home loans and how you can use them to save money.
- Referring you to reputable professionals such as financial planners valuators, conveyancers, solicitors and accountants etc.
- Getting you a pre-approval on your home loan so you can make a more confident decision ensuring you know how much you can spend and save time on your property searching.
- Overseeing all the loan application paperwork.
NY Resolution number two: “I’m going to move into my next home in 2020!”
Upsizing, downsizing or buying your first home – whatever your motivation for moving into your next home in 2020, it’s a buyer’s market so you may be lucky enough to grab a bargain! Even if you already know the drill for purchasing a home, you’re bound to have questions when buying your next place. Ask me about:
- Using the equity in your current home as a deposit for your next home.
- The costs involved.
- Bridging finance.
- Property and suburb report helping guide your purchasing decision.
NY Resolution number three: “I’m going to invest in property in 2020!”
A goodie for 2020! You’ll find things go much easier if you get my help with:
- Structuring your investment loan correctly to maximise the tax effectiveness of your investment.
- Working with your accountants or financial planner on your investment strategy.
- Comparing the market to find the right loan products that meet your investment strategy.
- Getting loan pre-approval and ensuring your application goes smoothly.
- Crunching the numbers for anticipated rental yield or other out-of-pocket costs.
- Providing you with comprehensive suburb and property reports to help you choose the right property.
- Accessing the equity that is available in your home or from another property to use towards your deposit and other fees charged.
- Offering referrals to reputable property managers, real estate agent and other professionals like house painters and maintenance companies.
What’s your 2020 property goal?
A goal without a good plan is just a wish, so let’s start planning and make your goals a reality this year. Whether you have made a new year resolution to buy your first home, next home, an investment property, renovate or refinance this year, I’m here to help. Please get in touch!
Speak to a mortgage broker today and to see how we can help you with your home loan