Monday 16th January 2017
You might be at a stage when friends are buying homes and paying off mortgages and you’re left wondering how they’re accomplishing it. Is it witchcraft? Is it wizardry?
We think not.
To buy a home in Australia, it takes is solid financial planning, sage advice and dedication, but it’s not magic. Seeing as Hagrid’s unlikely to crash through your door and pronounce that you’re a homeowner any time soon, we’ve conjured up a little advice to help you make it happen yourself.
Buying a home can be difficult, but it’s not magic.
“This doesn’t make any sense.” Dr Stephen Strange: Dr Strange
Dr Strange might as well have been talking about the logistics of buying property when he expressed confusion about his new magical powers to his wise master. But the fact is, it doesn’t have to be confusing. Enlist your own wise council: buyers agents, mortgage brokers and financial planners and achieving your goals will suddenly become fathomable.
A First Home Buyers Australia survey revealed that 38 per cent of first home buyers rank mortgage brokers as their most trusted and useful advisors.
“It is not despair, for despair is only for those who see the end beyond all doubt. We do not.” Gandalf the Grey: Lord of the Rings
You’d be forgiven for losing all hope of ever owning property, considering the media furore around the market and the immensity of the challenge ahead. If Gandalf can remain hopeful when the fate of the world rests in the hands of a four foot tall Elijah Wood, Australian home buyers can too.
Property Council surveys actually show that market sentiment is positive. Prices may be nearly as high as Mt Doom, but the reality is that all that is required to succeed is a slightly different approach. Consider purchasing in a shire further away from the city centre, buying with friends, or even purchasing your first home as an investment.
“It is our choices, Harry, that show what we truly are, far more than our abilities.” Albus Dumbledore: Harry Potter
Was Albus talking about Harry’s choice between lenders, loan-types and interest rates when he offered wise council here? Probably not. But we think this quote fits in the context of choosing your home loan.
You don’t need a Gringotts vault full of gold to buy a home, but you do need to make the right choices when it comes to finance. We can help demystify the home buying process, and get you into a home quicker than you can say Alohomora.