Buying your own home has always been considered the ‘Great Australian Dream!’
For many people, owning their own home is one of their main goals before retirements. Whilst buying or owning a home is not for everyone, there can be significant advantages in doing so.
Owning your own home gives you peace of mind.
You know that the property is yours. You have purchased an asset that could be considered a safe long term investment. Once you’ve paid off your loan you’ll be able to live rent and mortgage free!
Rent money is dead money! Or so the old saying goes.
While it is true that you will be paying back the bank. You should also be building up equity and your own ownership in the property. If you are renting you’re likely paying off someone else’s home loan.
Whenever you are renting there is always the risk the landlords situation will change. They may:
When you own your own home you’re in full control of your destiny.
In your own home, you’ve got the freedom to as you choose and to have your home exactly as you want it to be.
You no longer have to ask permission to hang pictures, paint walls or even to own a pet. It will be your home rather than your landlords investment.
Interest rates are currently at their lowest ever levels. This makes it easier than before for borrowers to afford the repayments.
It even may be possible for you to buy a home, with repayments less than what you’re currently paying in rent!
If you’d like to look at buying your own home, we can help! Please get in contact with us about our obligation free mortgage broker service.