Well with the new first home buyers grant going from $600,000 to $850,000 with a 5% deposit does that mean you will be able to look at higher priced properties - think very carefully about this as what it will mean for you is that your loan will be 95% instead of 80% it will take you longer to pay off.
What happens when the interest rates go up are you able to cope with a few rate rises? This payment comes in every month regardless of your situation.
Please do speak to your broker and make sure you can service the loan it's extremely important you make sure you that you can actually afford to eat.
What's happening out in the market now is that those $650,000 properties have actually gone to $750,000, $750,000 has moved to $850,000. You are actually not winning you are just paying more for the property, they are not bigger properties that you are getting.
You can engage a buyer's agent if you are time poor we have done about 5 deals with first home buyers who have kept missing out. Please make sure your finance pre approval is current. Contact us to talk about what is the procedure for this.
Should you wait to buy - probably not this market is not stopping there is just too many buyers that are currently fuelling this market.
A few buyers have now been priced out of the market they can no longer afford what they were chasing, they would have to go way out of the area they are chasing.
MAKE YOUR OWN DECISIONS AND GIVE IT A FAIR GO!!
SELLING MOSMAN PARK & THE WESTERN SUBURBS!!
KEEPING IT REAL IS OUR MOTTO!!
#sellingrealestateinthe western suburbs
#straightupconversations
#helpingbuyersunderstandinthemarket
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