Your borrowing capacity is a MASSIVELY important consideration when buying a home or an investment property.
It will affect where and what you can buy, and how much you can spend on the property.
If you had to hazard a guess as to home many Australians are underinsured, you probably wouldn’t get to the 50% mark. The sad truth, however, is that this isn’t even near the actual figure, which is an overwhelming 95%.
The Australian property market is experiencing significant pressure to perform and with an average drop of 8% per annum since 2017, investors are in a tight spot whether to buy or not. While the rule of thumb for buyers is to buy when the property market takes a dip to capitalize on the price difference, economists are hesitant to recommend this based on the lack of interest in major property hubs. For investors, a drop in the ask price might also result in a drop in potential rental income and could even cause financing issues. But this could also just be the best time to buy...
Over 40% of Australians have lived at the same address for over 10 years. This means that when it comes to selling a property, you need to be extra sure you have done all you can to make it as appealing as possible to prospective buyers; the stats show after all that they are likely to be looking for something long-term. Whether or not you opt to make big renovations to improve your property’s value, there are several simple things you should do to improve your chances of making a successful sale.