Archives for 2024

I want to upgrade my home. Do I need to sell or can I keep my current property?

You're starting to feel you've outgrown your current home. You have started to look into options for something bigger. But you have questions... Can I buy something new and still keep my current home? Do I need to sell first before I can buy another property? How does the financing - and timing of it all - work? Whilst the answers to these questions will entirely depend on your personal financial situation, here are a few things to think about. Can I buy something new and … [Read more...]

How long does it take to get a loan?

How long does it take to get a home loan? You’ve seen a property on the weekend that could be, ‘the one,’ and it’s being sold at auction soon. The problem is, you’re not pre-approved, you haven’t spoken to anyone about finance, you’re not sure how much a bank would lend you and you have no idea how long it will take to arrange a home loan. Question: Do you have a chance of being ready for auction day? Answer: It depends. It depends on a whole host of factors, … [Read more...]

What’s stopping you from buying a home?

Want to buy your first property, but feel like something is stopping you from buying a home? You know it’s the right time to break free from your parents (or the renting cycle) but you’re also worried about interest rates and the state of the property market. Is it really the right time to buy a home? Here we examine some of the fears you may have a buyer and suggest ways to overcome them. The Fear of Missing Out Good old FOMO often makes an appearance when you’re getting … [Read more...]

What’s happening with property values in 2024?

If buying a home is a priority this year, here are some thoughts on where property values might be headed in 2024. Before we pull out the crystal ball for the coming year, let’s look back at the change in home values we saw over the past 12 months. In 2023, despite five official rate hikes, increases in living costs due to inflationary pressures, home values still increased nationally by 7%. On top of that, there were three capital cities which experienced growth above the national … [Read more...]

What’s changing with the RBA and their interest rate decisions?

RBA Feb 24 Cash Rate Decision The Reserve Bank kept the cash rate steady in February. However, a change to the RBA’s 2024 meeting schedule has commentators theorising about how this will impact interest rates changes this year. The RBA’s decision to keep the cash rates on hold at 4.35% earlier this month wasn’t unexpected, given the latest inflation data. Because after months of steadily rising living costs, inflation seems to be finally heading south, currently at 4.1% down from 7.8% in … [Read more...]

Home loans for Self Employed Borrowers

When you’re self-employed, applying for a home loan can be a little more complex. There are additional checks a lender may want to perform and it’s likely you’ll need to jump through a few extra hoops before you get the green light to go house hunting. If you’re self-employed and hoping to borrow money soon, here are a few things to keep in mind to ensure you give yourself the best chance of getting your finance approved quickly. Understand borrowing requirements for self-employed … [Read more...]