For many people in Australia today, especially those on the younger side, having the means to buy a house all by oneself is simply unrealistic. While they’d love to throw down $100,000 in cash for a deposit on a nice place, they don’t have that kind of money and possibly never will. So, what can be done?
If you’ve got a home loan and you’re looking ahead to many, many years of making hefty repayments, it’s only natural to look around for a better deal. Countless Australians are wondering right now whether it’s a good time to refinance.
Is now right for you? It depends on the lending climate you’re in. Are interest rates increasing or decreasing? What sort of offers can you find if you shop around?
If you’re fortunate enough to be investing in multiple pieces of real estate, it’s best to diversify your purchases rather than buy all in one location or one category of property. Having a diverse portfolio makes it easy to weather any unexpected adversity in the housing market and generally enjoy a low-risk financial future.
There are a number of reasons you may choose to build a home rather than buy an existing one outright. For starters, it’s often cheaper, and additionally, you have a greater level of control over the process, meaning you can dictate the exact parameters you’re looking for in a house. Provided you have the time and patience for a construction process, this might be the way to go.