A house is likely to be the largest financial investment you will ever make, so it’s important that you do your research on home ownership and getting a home loan before you jump onto the property ladder.
Unfortunately, none of us are taught the ins and outs of buying property at school, and unless you have been picking the brains of financial advisors and property managers recently, it’s likely you have a lot of questions about getting a home loan, buying property and being a home owner. Fear not, for BHG has put together a guide to home ownership that will answer every question you’ve ever had.
If you’re still learning about the property market
If you’re ‘sort-of’ saving up a deposit but aren’t really sure about the whole home ownership thing, or you’re still a bit murky on what exactly buying a home all entails, read our story on the top 5 myths about mortgages you probably believe, and why they aren’t true HERE.
If you’re saving for a home
If you’re one of the many people saving for a property, or considering buying property, then you need to know for sure if you are ready for home ownership.
If you have a deposit saved and ready to go
Applying for a home loan can be a long and detailed process, and there are several lifestyle factors that can affect your likelihood of getting the loan. Read out checklist of things you need to know before applying for a home loan HERE.
If you’re ready to apply for a home loan
If you have your deposit for a house all saved up and you’ve done a clean-up of your personal finances and lifestyle spending, then it’s time to get everything you need together for a home loan application. Read our 7 step guide to home loan application success HERE.
If you have a pre-approved loan and ready to buy a home
Buying property is a huge financial investment and it involved lots of legal paperwork. If you aren’t familiar with the legal issues that can affect first home buyers, then read our guide to the 5 most common legal issues first home buyers face HERE.
If you are a proud new home owner
So, you’ve got a mortgage and bought a house, what now? It’s important that you stay on top of your repayments and know exactly how much money is being spent on them. Better yet, get ahead of your repayments and pay the home off early. Read out guide to paying off a mortgage HERE.
If you want to minimise the interest rate on your home loan
Minimising the amount of interest you pay on your home loan is a great way to reduce the amount of money you owe to the bank. One way to do this is by setting up a mortgage offset account, and you can read our explainer on that HERE.
Another way to reduce your interest is by asking your bank for a better rate. Read our guide on doing that HERE
If you’re ready to increase the value of your home
If you’ve owned your home for a while and you are ready to make some improvements and increase the value of your property, read our guide to maximising the value of your home on a budget HERE.
If you’re looking for some low-key ways to increase the value of your home, read this story on the paint colours that improve sales HERE.
If you’re ready to sell your property
Whether you need a larger home or you’re ready to downsize, selling your property can be a confusing and difficult time. Read our guide on how to know when it’s the right time to sell or buy a property HERE.
However, make sure you are aware of the pre-sale home updates that aren’t worth your time, money or effort by reading our guide HERE.
If you want to downsize
If you are considering downsizing your property it’s worth taking the time to research the benefits downsizing can offer you, both financial and personal. Read our guide to downsizing HERE.