Strategise To Achieve Your Dream Home
Does your dream home or suburb seem out of reach? Don’t worry, you’re not alone. There are quite a few buyers who are limited by funds or circumstance which prevents them from purchasing their ‘ideal’ home.
But don’t despair, with some smart research and good choices, you can work your way up the property ladder and eventually achieve a home you love in a location you love.
Use stepping stones to achieve your dream home
First home buyers need to be realistic, conduct as much research as possible about booming suburbs and then buy within reason – which may only been a one or two bedroom apartment. Once you have moved in, you can either renovate or sit on the property for a period of time and wait for it to appreciate before selling for a profit. From there, when you have some capital behind you, try and upgrade into a more preferable suburb, or choose a larger house suitable for your family’s need. It may take one, two or even three property sales to build enough capital up to buy your dream home, but you need to start somewhere.
Our research reveals you can still buy in the tightly-held inner city Brisbane for under $200,000. Take a look at this option on Shaftson Avenue in Kangaroo Point. It is only a one bed, one bathroom apartment, but for $159,000 with a rental return of up to $300 a week, it could be the perfect stepping stone to achieving your next property.
Enlist the help of a financier
First home buyers can empower themselves and get ahead of the game by enlisting a mortgage broker to get the best advice possible in regards to how much they can borrow. Mortgage brokers have access to multiple lenders and know where to look to get you the best rate, the biggest loan possible and the best options and conditions but the kicker is the lender will pay their fee, not the buyer, so it won’t cost you a cent for their services.
Review your personal income
If you want to make a big property dream a reality, create an action plan. That might mean seeking out new and better employment opportunities, actively going for promotions at your current organisation or up-skilling. At the end of the day, any investment you make to secure your income gives greater capability to service a larger loan and achieve your longterm property dream. Alternatively, investigate buying a home in partnership with friends or family which will make owning a home a more affordable option.
Therefore, don't give up on buying a home you love, whilst it mightn't be achievable right away, you can work your way up to it!
The property pictured is located in Windsor and can be viewed here.