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First home buyer

rising interest rates

How Do Rising Interest Rates Impact Your Borrowing Capacity?

Rising interest rates have struck again in 2022. For the second time in 35 days, the RBA has raised the interest rate, throwing homeowners and potential buyers alike into a frenzy. This rate means current mortgage repayments are about to increase, which may come as a shock, especially for recent first home buyers. After dealing with a hot property market over the past few years, those looking to buy their first home are now being forced to re-evaluate their loan applications as their borrowing power is impacted. So, how do rising interest rates impact your borrowing capacity? Here is everything … Read more

interest rates rise

Rates on the Rise: Is Now the Right Time to Fix Your Rate?

The cost of living is rapidly climbing, while the national wage growth struggles to keep up. As a result, purse strings are tightening, and budgets are being readjusted to accommodate this new reality. If you’re wondering whether now is the right time to fix your rate, you’re not alone. With rates on the rise, consumers are looking for areas to reduce their spending and locking in their interest rates can be one way to do it. If you’re considering whether you should fix your rate or change it to a variable, keep reading for more information. Fixed vs variable – … Read more

what is a construction loan

Construction Loans: What are they & how to they work?

If you’re planning to build your dream home from the ground up, or complete structural renovations to your existing home, you may need to take out a construction loan from a lender. This loan differs from a regular mortgage, as it releases the loan funds in stages rather than a lump sum all at once. While building your own home sounds exciting, it can become a bit tricky financially, and the application is more involved than other loans. We’ve broken down how a construction loan works, so you can begin to plan the home of your dreams. What is a … Read more

What’s Ahead for Melbourne House Prices

Over the past couple of years, Australian house prices – and Melbourne house prices especially – skyrocketed due to the increased demand and lacking supply of properties. With an interest rate rise on the horizon, house prices are likely to change again, leaving those looking to buy questioning whether now is the right time. Here is what we’re expecting the property market in Melbourne to look like this year and how you can get into the market. The good Property prices rose in every Australian capital city in the last quarter. In Melbourne, they rose by 3.9 per cent. The … Read more

When is the Best Time to Buy Property?

Breaking into the housing market may feel next to impossible as house prices soar. With no sign of the boom slowing, many may be wondering when the best time to buy property is, if it exists at all! While some may be holding out in the hope that prices will soon drop, others are taking a different approach and buying a place to satisfy their fear of missing out. So, is it worth waiting for a ‘good’ time to buy, or should you be putting in offers all year round? We’re here to help. When is the best time, seasonally? … Read more

What to Consider When Buying a House with Your Partner

Buying a house on your own is exciting but buying a home with your partner is an entirely different situation. When buying solo, you only have yourself to consider – throw a partner into the mix and you have two lots of competing opinions. From joint bank accounts to deposits, house location and style, taking this next big step in your relationship is a big decision. Here are some things to discuss when it comes to buying a house with your partner. Are you ready to take this step in your relationship? No doubt you’ve spoken about this at length, … Read more

New home owners

What is a Vendor’s Advocate?

Selling your home is a stressful time – corresponding with real estate agents, preparing your home for inspections, and navigating through a changing market can all be overwhelming. Enlisting the assistance of a vendor’s advocate to help you through this time can be a way to reduce some of your stress, as well as help you get the best price possible for your home. While they can help take a huge weight off your shoulders when it comes to the selling process, there are some things you need to be cautious of when finding the perfect vendor’s advocate for you. … Read more

What is a Buyer’s Advocate?

Enlisting the help of a buyer’s advocate can make your property buying process a walk in the park. They take care of everything – from house hunting, right up to bidding on auction day. Using a buyer’s advocate can help relieve stress you may encounter during your home buying journey and assist if you’re time-poor. Here’s everything you need to know about buyer’s advocates and whether hiring one is right for you. What is a buyer’s advocate and what do they do? It’s common for people to get confused between a buyer’s advocate and a vendor’s advocate. While they’re both … Read more

First home buyer challenges

Tick all the Boxes but Still Can’t Buy a Home? First Home Buyer Challenges

Purchasing property when the market is ‘hot’ is a challenge for anyone, but for first home buyers trying to enter the market for the first time, it can be extremely discouraging having offers continually knocked back – especially when they tick all the boxes needed to buy a property. Although it’s easy to get disheartened, there are some ways around some of these challenges first home buyers face. Managing expectations All too often, first home buyers will have a higher expectation of what they think they can borrow, rather than what is realistic. Inovayt Finance Broker, Justin Coughlin, says it’s … Read more

Hidden costs of buying a property

The Hidden Costs of Buying a Property

Buying a property is a big part of anyone’s life. Whether it’s your very first home, your third investment property, or a nice holiday house, there’s always an element of excitement involved. However, when we look at buying a property, for example, at $650,000, we often take that as how much we are paying or borrowing and don’t take into account the other hidden costs. Unfortunately, there is no hard and fast rule on how much these hidden costs will be. It depends on how much you are paying for your property, where it’s located and whether it’s a house … Read more

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