The traditional cooler months see many homeowners considering that big question – “is this the year we make a move?”
Making the decision to sell the family home, or make a long-awaited change is no small decision. Often the even bigger question that sits behinds this (and the one possibly keeping many people up at night) is “do I feel confident about my financial situation, and clear about my next steps with regards to selling, buying, or investing in property.”
Against a backdrop of fluctuating market sentiment with 12-interest rate rises in 18 months, it is the perfect time for homeowners to reassess their financial options, and situation, so that they confidently make decisions with regards to their next move on the property ladder.
It is for this very reason that Pulse Property have partnered with Tony Caine from GROW Home Loans to give our clients expert mortgage advice. Tony is not just a mortgage broker; he is an active community member, Sutherland Shire resident, and has previously practiced as a Financial Planner. Tony is passionate about empowering both homeowners and buyers with knowledge and support to navigate the complexities of the real estate market. He does this through educating his clients, improving their financial literacy, and equipping clients to make informed and timely financial decisions, which are often inherently interlinked to buying and selling property.
We spoke to Tony about his top tips for clients in the current market – here is what he shared.
Preparation is key. It is important to understand your financial situation in preparation for uncertain times. Even a brief conversation with a trusted mortgage broker may identify options you would not have otherwise known were possible or available to you, such as a refinancing cash bonus.
For buyers (and sellers) approval times and processes are slower than in the past. You will need at least 4 to 6 weeks before you are ready to make offers. This advanced preparation will increase the likelihood of you securing the property you have your heart set on.
Consider all your options. Perhaps your fixed term loan is fast coming to an end, or maybe you are considering whether you stay on principal and interest or go interest only. Looking at your finances wholistically and considering all the options may set you up for a much smoother transition. Be it refinancing, debt re-structuring, or preparing for the next stage of life, or adapting based on differing life circumstances.
A 15-minute call with Tony may help you reshape the most significant financial and property decisions you make, not just for this spring season, but for setting yourself up in the years ahead. You can contact Tony on 02 9525 4666, email him at tony@growhomeloans.com.au or click here for further information.
In the months ahead Tony will be sharing further financial and property insights, so keep your eyes peeled.
*Information provided is not financial advice.