With interest rates currently sitting at unprecedented low levels, is it time to consider buying a property of your own rather than paying off someone’s mortgage by renting?
Its a huge step to buy a property, especially if you are considering buying in Sydney. You will need to have saved up a deposit of at least 10 – 20% plus be committed to paying off your mortgage for 10 or 20 or even 30 years to come. This could definitely take a toll on some of your overseas holidays and possibly even your social life! Is it really something you want to do? These are some of the very important questions you need to seriously ask yourself before you consider buying real estate.
Here are a few key points to think about before you start making a list of where you want to buy and what your new couch should look like:
- Do you have a deposit saved of at least 10 – 20% – if not, start saving or consider buying a property with a close friend or family member
- Do you know the full cost of purchasing a property – you need to factor in the purchase price, stamp duty, legal fees, strata or pest and building searches, and other costs depending on what and where you buy
- Do you know how much you can borrow and how much you can actually afford to repay – if not, its time to speak with a good mortgage broker or your bank
Once you’ve thought about these questions then comes the hard part of finding a home or an investment that works for your lifestyle or your family, and your budget.
You might decide that you’re not ready to move out of your current home but you want to buy and investment property. This can allow you to have the best of both worlds ie stay living by the beach in Bondi and still get ‘your foot in the door’ or ‘onto the real estate ladder’.
Or you might decide you want your own ‘patch of grass’ so its time to start looking at new suburbs where you can afford the home you want and still have the lifestyle you need.
Whatever your situation, buying real estate in Sydney can be hard. And with the number of properties on the market right now at desperately low levels, competition is more fierce than ever. But we can help.
My name is Felicity Schilling and I am the Director at Unlisted Property Buyer’s Agent. Quite simply, I help families and individuals buy homes and investments that suit their lifestyle and needs by finding the right property on or off market, managing the the inspections and due diligence and then negotiating the purchase. From making your first appointment with a mortgage broker all the way through to settlement, we can do as much or as little as you need. So whether its cafes at your doorstep, the right schools or proximity to work, I will make buying real estate simple and ensure you purchase at the very best price.
Contact me to discuss how I can assist you today
Felicity Schilling
Director
mobile: 0424 266 205
email: felicity@unlistedproperty.com.au
website: www.unlistedproperty.com.au
facebook.com/unlistedproperty
Unlisted… your key to buying in Sydney’s Eastern Suburbs
