Have you been thinking about investing in property? If so, you’ve likely done extensive research on the matter. Maybe you’ve even “almost” invested in property, going so far as to talk with a real estate agent, but then changed your mind. You aren’t alone – many people find the process overwhelming and back out before they even start. However, it doesn’t have to be rocket science. Investing in property is relatively straightforward when you follow a few simple steps.
Check Your Finances
You need a clear picture of your assets, including your income, and your expenses. Even simply listing these numbers will reveal how much money you have available to invest. Do this before assuming you can’t afford it; you might be surprised. If you have a stable job and a good employment history, getting a loan shouldn’t be too difficult.
Apply for pre-approval either directly through a lender or your mortgage broker – but don’t apply for multiple approvals. The lender will check your credit each time, and multiple inquiries can be a red flag to potential lenders.
Think about what you want to accomplish by buying an investment property. Perhaps you want to secure your financial future or earn extra money so that you can be free to spend your time how you like. If you’re going to achieve your goals, you have to know what they are. For example, if you want to replace your income and retire within ten years, create a 10-year plan, then break it down into yearly timelines – even all the way down to weekly. This can keep you from becoming overwhelmed.
Budgeting isn’t glamorous, but it’s the only way to make sure you can balance your income and expenses. It also helps you understand what you’re spending your money on and how to plan for bigger future expenses. There are many good budgeting software options available to make this task easier.
Being informed includes knowing the market, being wary of schemes, and making use of the information available to you to make the right investment choices. No one can predict the future, but real estate agents in Flinders View and other sources can help you make informed decisions.
Finding a Real Estate Agency in Flinders View
At First National Brassall, we understand that investing in property can be overwhelming whether you’re buying a rental property or a home for yourself – and whether it’s your first property transaction or your tenth. That’s why our team is made up of only experienced and knowledgeable agents who can contribute to making it easier to make the right decision. If you’re looking for a real estate agent in Flinders View, rest assured that each agent at First National Brassall can provide you with top-notch service. Our agency is committed to giving you a superior real estate experience whether you want to buy, sell, or rent. We love what we do, so give us a call today and let us help you make your dream of owning investment property a reality.
The decision to buy your first home is an exciting one. You’ll finally have a piece of property to call your own – a place to call home. You’ll be able to hang art, paint the walls any colour you want, plant a vegetable garden if you want – but first, you need to start saving. The first home owner’s grant is a start, but you’ll likely need more to use as a deposit. Here are some tips to help your savings grow.
Save 10% of Each Pay check
This is a tried-and-true tip that works if you stick with it. Think of it as paying yourself before you pay anyone else. Designate one savings account and transfer 10% of each pay check into it. This isn’t always easy. It might mean that you have to skip eating out sometimes or you start taking your lunch to work with you, or it might mean that money is tight towards the end of your pay cycle. But it’s worth it in the long run.
Sell Your Stuff
Use a website such as eBay to sell your unwanted household items. You might be surprised at how many things you have that other people are looking for, from clothes and curtains to CDs and unused cosmetics. Depending on what you sell, you can make hundreds or thousands of dollars in a matter of weeks or months.
Pay off Your Debt
Paying off debts doesn’t sound like a savings tip, but it is. As you pay down your debts, you’ll be paying less in interest. It will also increase the amount you can borrow and free up your cash for mortgage payments. It’s a good idea to set up a plan for getting rid of your debt now before you commit to a mortgage.
Do Without Luxuries
It may not be fun, but tightening your budget is an effective way to save money. You don’t have to eliminate everything you enjoy but choose a few things to live without while you focus on growing your bank account. For example, if you cancel your cable TV subscription, avoid buying new clothes, take your lunch to work, and skip alcohol – and put that money into your savings account instead – you could save several thousand dollars in just one year.
Where to Find a Real Estate Agent in Karalee
When it’s time to buy your first home, it’s important to find a good real estate agency in Karalee. At First National Brassall, our handpicked team can help you make your dreams come true, whether you want to buy your first home, sell your home, or invest in property. Each agent has the experience and knowledge of the local area to assist you in finding the right property in Karalee or any other Ipswich suburb. Saving enough money for a down payment on your first house is within your reach! When you’re ready to buy, give our agency a call. We look forward to hearing from you.