Professionals Nowra Saving up for a home loan can be challenging, especially when you consider the rising cost of real estate. However, if you look a little harder, there are still plenty of affordable properties available and many first time buyers may be able to enter the property market sooner than they think if they look outside the box a little.
Look at cheaper suburbs: Many first homebuyers want to buy in neighbourhoods that are close to city centres or their
favourite café hub, but unfortunately these suburbs are usually the most expensive. Consider looking at suburbs a little further afield and maybe down the track you will have enough equity to be able to afford to buy in your “dream” suburb.
Find a home in need of TLC: If you absolutely don’t want to compromise on your favourite suburb, then another affordable option is to find a property that is ripe for renovation. Be mindful if you go down the renovation road as you don’t want to overcapitalise. Add up how much renovations will cost you and add this to the sale price to figure out if you are getting a bargain or not.
Don’t go it alone: If you want to get into the property market right away but don’t have the funds yet then you could invest in a property with your partner or friends to help reduce your outlay. Just make sure that you seek legal advice before buying with another party, and ensure that they are financially stable.
There are always plenty of great property bargains out there, but you need to start looking for them or you won’t be there at the right time to snatch them up. Find out what properties we currently have available here at Professionals Clyde Poulton Real Estate by searching on our homepage. Alternatively, call our office on (02) 4421 2644.