If your property goals involve buying a first home, an upsized or downsized home, or an investment property in 2025, you’ll find this recent article on realestate.com.au super informative.
Industry professionals including Wendy Chamberlain share their insight into navigating the 2025 property market to maximise your chance of success.
Tips for first home buyers include:
- Closely tracking property trends and sales prices.
- Shopping around different mortgage brokers.
- Researching your finance options including first home buyer grants.
- Obtaining mortgage pre-approval before you house-hunt.
- Being flexible about where and what you buy.
- Capitalising on current marketing conditions and buying now.
If you are upsizing, you have the added complexity of trying to synchronise the timing of a sale with a purchase, which places greater importance on your time management and negotiation skills. Wendy suggests:
- Before you start looking for your next home, prepare your current home for sale.
- Obtain an appraisal of your current property’s value.
- Explore potential new neighbourhoods.
- Obtain mortgage pre-approval.
- Do extensive market research and indepth analysis of any homes you consider buying.
- When you find an ideal property get a property and pest inspection done and make an offer.
- Negotiate settlement dates for both properties so that the timing works well for you.
Tips for property investors include:
- With unpredictable interest rates, the market is uncertain. Know your cash flow, debt levels, and investment goals.
- Track your income and expenses meticulously.
- Understand loan-to-value ratios and look to reduce your interest rate.
- Diversify in order to spread risk and find a range of potential returns.
- Seek professional guidance and build a reliable team of property experts around you.
Mortgage tips for all buyers:
- Regularly compare interest rates from different lenders.
- Negotiate a rate reduction with your current lender.
- If you don’t succeed, enlist the help of a broker.
- Use a broker to assess your financial position and find a loan that aligns with your financial goals.
- Refinance if the savings outweigh the costs such as exit and application fees.
- Make extra payments or change your loan repayments to weekly to save on interest.
- Choose an offset account with redraw facilities to significantly reduce interest payments.
Make 2025 the year you achieve your property goals with the help of industry experts.
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