Taking out a home loan can be a nerve wracking experience, particularly for first time buyers. The key to making the experience not just bearable but fruitful is to understand exactly what you are taking on.
Here are the questions you should know the answer to before getting your home loan.
Broadly defined as a home containing two sets of adult generations, a multi-generational home includes adult children living with parents or grandparents moving into the family home.
For an increasing number of reasons, notably inflated house prices and rising care costs, adapting your house to fit several generations under one roof is proving a popular option for many Australians.
So how can you make your home work for the generations that may be joining you?
There’s no better time than the present to expand your business. The past few months have seen business conditions rise well above the long-run average, according to NAB’s November monthly business report.
Successfully growing your company is all about knowing when to take action. While factors such as improved conditions, increased confidence and better payment times are positive across the board, business owners in Australia should seize the opportunity to expand their companies.
Let’s look at the current business outlook in Australia.
Purchasing a property is a huge financial decision, which is why people should familiarise themselves with the mortgage process and any essential terminology. Unfortunately, recent research has indicated many Australians aren’t as familiar with common home loan terms, as they need to be.
Do you know how split home loans work? Any idea what an offset account is? What about the differences between interest rates and comparison rates?