So you’re a first home buyer. When’s a good time to buy?
It’s a difficult time for first home buyers, but it’s not all bad news!
According to the Australian Bureau of Statistics (ABS), the number of first home buyers in the market has fallen about 35% over the past year[1], which is hardly surprising given rising interest rates, the end of some government grants and tighter borrowing restrictions.
With an ongoing focus on interest rates, now could be the perfect time to make some clever and practical changes to your finances and learn how to prepare for any further fluctuations with our helpful tips.
Assess your budget
Now is an ideal time to look at your finances and take stock of your expenses.
Buying your first property is exciting but finding the perfect block and deciding on the perfect home design that suits your lifestyle now and will grow with you can feel overwhelming. That’s why a House and land package at Westbrook can be a desirable and affordable option for buyers looking to enter the property market.
Here are just some of the benefits of choosing a house and land package at Westbrook.
Super v Mortgage? Where should you put surplus cash?
The last 18 months have highlighted the importance of future-proofing your financial security. But if you’re lucky enough to have a little cash left in the bank at the end of each month, working out the best place to put it can be confusing.
Aside from depositing it into a savings account, most of us will choose to pay down our home loan or top up our superannuation.
For individual homeowners, a mortgage is often their single largest source of debt and has the greatest effect on their finances, and their ability to stay solvent through wage decreases or wage losses. For lenders, mortgages are typically the most significant asset on their retail banking book, which means that any changes in originations, repayment schedules, and default rates will have significant impacts on their profitability and liquidity.
Great news for those still looking to build with the announcement on 29 November that the HomeBuilder scheme, which provides grants for home builders and renovators has been extended to 31 March 2021. The extension is expected to see a further 15,000 construction projects under the scheme.
Hi everyone, we'd love to introduce you to Cheryl Pearson - our delightful Sales Consultant at Westbrook, Truganina
Today Cheryl discusses everything you need to know about the Home Builders Scheme, from lodging your application, first home owner programs, investment property considerations and much more. In order to qualify, make sure your building contract is signed by 31 December, 2020.
Great news for Australians dreaming of buying their own home. The Federal Government’s new HomeBuilder scheme provides eligible owner-occupiers with a grant of $25,000 to build a new home or substantially renovate an existing home. This will be a welcome relief to many Australians and the country’s economy as it tries to navigate its way out of the current health crisis.
