If you’ve been dreaming about purchasing your own place, but a niggling voice in the back of your mind has been offering up objections, we’re here to tell that voice to pump the breaks, champ! In this article, we tackle some of the common objections first-home buyers may have to buying right now, and explain why you should talk with us today.

Objection 1: “I don’t have a big enough deposit”

If you’ve been working hard to save a deposit and feel like it’s never going to be big enough, we have some exciting news for you! Size doesn’t always matter, especially not in this scenario. Being approved for a home loan is not necessarily dependant on how much of a deposit you have, but rather your capacity to repay the mortgage. There are all sorts of options available to aspiring homeowners who don’t have a 20% deposit.

Some lenders still offer home loans for up to 95% of the purchase price. The borrowing criteria can be more stringent than other types of loans, but if you have a clear credit history, stable employment, a solid income, minimal debt and are in a good asset position, you may qualify. Most home loan providers will want to see evidence you’ve saved at least 5% of the purchase price, and you may have to pay Lenders’ Mortgage Insurance with this type of loan – but you’ll have your foot on the property ladder! Speak to us to find out whether this kind of loan could work for you.

Another way to get a foot on the property ladder could be to ask your parents or a family member to be your guarantor. This is when they use the equity in their property as security for your loan. The right time to buy your first home is as soon as you can afford to do so!

Objection 2: “I think the market will downturn”

Whilst the property market does go up and down in cycles, “timing the market” is not as important as “time IN the market”. The sooner you buy a property, the sooner it will be possible for it to start to experience capital growth (which is the term we use to describe how much your property goes up in value whilst you own it).

There is always a possibility that your property will go down in value after you purchase it. However, you need to remember it has only gone down in value ‘on paper’ – you won’t actually lose any money unless you sell it. Market fluctuations are common and it is likely it will have recovered in value by the time you want to sell.

Choosing the right home in the right location can help protect against property market fluctuations and improve your chances of long-term capital growth. When you locate a property you’re interested in buying, we can help you check its capital growth potential with a free property market report – so please ask us.

Objection 3: “I can’t afford a home where I would want to live”

Most people don’t get to buy their dream home the first time around – it’s a goal you can work towards once you get on the property ladder. If you can’t afford to buy your dream home in your preferred location, you could look for something in another location, consider a smaller property that’s more affordable, or opt for a fixer-upper that has potential but just needs a little love. Another option that’s becoming increasingly popular is to rent-vest – rent where you want to live and buy an investment property somewhere else. That way, you can grow your nest egg to enable you to eventually buy the home you want.

There’s no time like the present to chat with us about your plans and finance options. Please get in touch and we’ll explain your borrowing capacity, home loan options and help you get pre-approval on your loan so you can start looking for a property to buy sooner. Is now the right time to buy your first home?

Buying your first investment property is exciting, but it also comes with new responsibilities. When you’re on your L-plates as a new landlord, it’s important to be aware of your rights and obligations and those of your tenants. Here are some of the essential things that you should know.

1) Go it alone, or use a property manager?

When you’re a new landlord, managing your own property could have a steep learning curve. Working with a good property manager will not only teach you the ropes, but they’ll do all the hard work for you – like finding tenants, lodging bond forms, collecting rent, doing inspections and making sure things run smoothly. If there are any issues, the tenant will contact them directly, which could save you a lot of hassle. They’ll also keep you informed of your rights and responsibilities, giving you peace of mind that you’re doing things right.

Before choosing a property manager, be sure to check their online reviews or ask them if you can reference check their other clients. Otherwise, ask us! We are well connected and are more than happy to provide a referral to any reputable local suppliers that we may know. Property management costs are usually tax deductible for property investors, so also check it out with your accountant.

2) Familiarise yourself with the legislation

As a new landlord, it’s important to know your rights and responsibilities and adhere to the relevant legislation in your state or territory, even if you use a property manager. For example, in some states, you must provide tenants with a new tenant checklist before they sign the tenancy agreement, and you can be fined for not complying. You can find helpful information about each state and territory’s specific requirements on the TenancyCheck.com.au website, available here. Be sure to also check with your state or territory’s relevant government department.

If you have a Property Manager, it’s their job to help you understand the legalities, so if you’re not sure, ask them to fill you in!

3) Understand the importance of the bond

The bond is a security deposit that protects you if the tenant damages the property, leaves it unclean, or fails to pay rent or bills that fall under their obligation. In these instances, you or your agent may be able to claim the bond money to cover your expenses at the end of their tenancy. The bond is usually about four weeks’ rent, but in some instances, it may be more.

Once the bond is collected, you must provide the tenant with a receipt and lodge the money with your state or territory’s residential tenancies authority (known by different names in each state/ territory). Be sure to check with your local authority about how soon the money must be lodged. This authority will hold on to the bond until the tenancy is up and pay it back to the tenant when the property is vacated, provided there’s no money owing for damages, unpaid rent or other costs. If there is a dispute about the bond or you want to claim compensation for damage that exceeds the bond, you can apply to the relevant tribunal within your state or territory.

Buying an investment property is exciting and rewarding. If you’re not confident about going it alone, you can rest assured that there are professionals out there to help make sure things run smoothly. In terms of finance, we’re here to help you find a loan that meets your current financial needs and ties in with your future investment goals. We’ll compare the market and set you up with a loan that ticks all of your boxes, so please get in touch today! 3 things every new landlord needs to know

Christmas is just over the horizon and decorations are already starting to appear at the local shops. It’s a time of year where it’s almost common practice to splurge! Marketers are all working hard to encourage you to buy, buy, buy and you may have already picked up a few things for yourself and to put under the tree for family and friends.

It’s easy to resort to “retail therapy” when you need a bit of a pick-me-up, and it’s also easy to overspend on gifts amidst all the excitement of Christmas. But what will really give you a thrill and a sense of satisfaction is reaching your savings goals and using the money to buy an asset that will help you grow your nest egg even further (like a house). Here are our tips for beating the urge to splurge this Christmas.

Establish a budget

The most valuable thing you can do for your bank balance this silly season is to create a budget and stick to it. This is especially important if you are buying Christmas gifts.

Write down all of your income and expenses and set an amount for regular savings. Once you have a budget in place, you’ll know your spending limits, and how much you can afford to spend on things like Christmas presents or summer holidays. You’ll also be able to establish good savings habits – something that’s vitally important when the time comes to apply for a home loan. When creating your budget, set yourself short-term savings goals to stay motivated, plus long-term goals to set your sights on where you want to be financially.

There are plenty of online tools to help you create a budget. You could use a simple Excel spreadsheet or a budgeting app. Wally, for example, allows you to manually log your expenses and store pictures of receipts in a virtual budget journal. The app alerts you when you hit your savings goals or when a bill is due. TrackMyGOALSallows you to set, plan, track and manage your savings goals (we’re thinking a new home could be a goodie!).

Think outside the box

If you want to avoid splurging, you need to think outside the box and make a fun game out of finding ways to save money. The key is to challenge yourself to find ways to feel good without buying stuff you don’t really need. If you’re feeling blue and needing some “retail therapy”, do some exercise instead or head to your local park. The endorphins and fresh air will do you a world of good!

When it comes to Christmas gifts, simple home-made presents can potentially save you a load of cash. Get creative! Make some yummy treats and jazz them up with some pretty wrapping. Get a professional photo done and buy some frames in bulk at wholesale prices. Don’t be shy about ‘re-gifting’ anything you don’t need, just give it to someone else who may enjoy it. The options are endless!

Avoid temptation

It’s important to know your spending triggers and to keep them in check to avoid impulse shopping. If you’re a fan of online shopping and find yourself gravitating towards those advertisements on Facebook, perhaps take a hiatus from social media during the silly season and ‘unlike’ your favourite shopping sites.

Similarly, if you find yourself being tempted to buy things for yourself when you’re out and about buying Christmas presents for your family, it’s wise to avoid shopping centres. After all, if you don’t see those killer shoes in the shop window, you won’t know what you’re missing out on. If you have to go out to buy Christmas gifts or essentials like groceries, write yourself a shopping list and take cash with you. By keeping your credit cards safe from yourself (and locked in a drawer at home), you’ll spare yourself a spending hangover.

If you’d like to explore your home loan options, we’d love to hear from you. Even if you don’t have a huge deposit saved, we may still be able to help you, so please don’t hesitate to get in touch. Remember, you’ll need a good savings history if you are planning to buy a property, so resist the urge to splurge this Christmas! Make some savings goals, change your spending habits and set the wheels in motion for a splurge-free future today!How to beat the urge to splurge

It’s hard to believe we’re already into November and Christmas is only weeks away! The spring property market is really heating up, with the number of auctions in our capital cities reaching a record high at the end of October. At the same time, rises in home values seem to have stalled and clearance rates are lower, so if you’re in the market to buy a property you may be able to score one that’s right on budget at auction. Interest rates are still very competitive, so why not call us now to talk about your plans?

Interest Rate News

The Reserve Bank of Australia (RBA) decided to keep the cash rate on hold at 1.5% again this month. It’s the 15th consecutive month with no rate change – the RBA last moved rates in August 2016, cutting the cash rate by 0.25 basis points. According to market analysts, it’s unlikely the RBA will make any move to adjust the cash rate at its final meeting for 2017 next month.

Property Market News

Home value increases slowed across the combined capital cities in October. Melbourne proved to be more resilient than Sydney, with dwelling values up 0.5% over the month, compared to Sydney, where they dropped -0.5%. Melbourne also saw stronger growth over the quarter, up 1.9% while Sydney’s prices fell -0.6%.

Dwelling values grew by 0.9% in Hobart in the month of October, and the city also saw the highest change in dwelling value growth over the quarter (up 3.3%). In Brisbane, values increased by 0.2% during the month of October, and 0.6% during the quarter. In Adelaide and Perth, there was no monthly change in dwelling values. Adelaide saw prices rise 0.1% over the quarter, while Perth’s prices fell -0.7% in the three months prior to October 31. Canberra saw prices fall -0.1% last month, but overall they increased 1.1 percent during the quarter.

Record auction numbers in October

Auction volumes across the combined capital cities reached record highs at the end of last month, according to CoreLogic. In the last week of October, the combined capital cities held 3,690 auctions, returning a preliminary auction clearance rate of 67.8%. Melbourne saw volumes reach their highest level on record, with 1,983 properties going under the hammer and 71.7% being snapped up!

The ACT also had a high clearance rate of 77% for 128 scheduled auctions. In South Australia, there were 163 scheduled auctions and 68% sold. New South Wales held 1,395 scheduled auctions, and achieved a clearance rate of 64%. In Tasmania, there were only six auctions, but 60% of properties sold. Half of the 60 properties that went to auction in Western Australia sold, while in the Northern Territory there were 10 scheduled auctions (44% clearance rate). Queensland had the lowest clearance rate for the week ending October 29 (43% for 361 scheduled auctions).

Now the Christmas shopping season has arrived, we know you’ll be busy buying gifts for your loved ones – so it might help to read our article this month about resisting the urge to splurge! Now is also a fantastic time to talk with us about your property purchasing plans, or to see us about a home loan health check, so please give us a call and we’ll be happy to help.Welcome to our November Newsletter

When selling your home, your main objective is to get the best possible price. So when should you put it on the market? Does the time of year make a difference? The answer is that it depends on the property itself. The time of year can make a difference in some cases, however the location and how the property market is performing are important considerations too. In this article, we’ll take a look at some of the most important seasonal factors that you should consider when deciding to sell your home.

Spring is traditionally the most popular time of year to sell a property. It’s the season for new beginnings, when buyers spring into action (pardon the pun). Homes and gardens often look their best in spring too, which may drive up the sale price in some cases.

However, spring may not necessarily be the best time of year to sell for everyone, particularly if your property is an established home or located in a city or metropolitan area. Whilst spring may bring increased buyer demand, it may also mean many more property listings in the area your home is located. If there are many properties similar to yours on the market, that could mean lower prices.


If your home is located in a popular summer holiday destination, summer could be the best time of year to sell. Holiday-makers could potentially be your best market audience!

Properties that are particularly cool may also be more attractive from a selling point of view in summer. Depending on where your property is located, there may also be fewer properties on the market to compete with so it could help you to achieve your price. However, be careful about selling in December or January, when people are generally winding down and preparing to relax over the festive break and summer holidays. If your property is located in a city location, or its market audience is families with school-age children, there will be fewer buyers on the inspection circuit.


Autumn is another popular time of year to sell, with auction activity usually red hot just before Easter. Many prospective home buyers hit the open house inspection circuit at this time of year, hoping to find a new home and get it settled before the cold weather arrives. Again, consider your location and check out what other properties are on the market to see how much competition you’re likely to encounter.


Your home’s key drawcards could influence when to sell. For example if it has an amazing fireplace or a fantastic underfloor heating system, it may be more appealing to buyers in winter. Likewise, if your property is in the snow-fields or an area that is popular for winter sports, winter could also be the best time to sell. West-facing properties tend to receive more sunlight around this time, and this could make them more appealing in winter than at other times of the year.

Another advantage of selling in winter is there may be fewer listings to compete against, which could drive up competition amongst buyers and lift prices, depending on the area where your property is located. Properties in popular locations often sell quickly all year round.

Don’t forget to consider market conditions

In addition to seasonal factors, it’s important to consider local property market dynamics, specifically supply and demand. If there is an oversupply of properties on the market, it may be best to wait it out until conditions change. The best option is to choose a time when stock levels of properties that are similar to yours are low.

If it’s a ‘buyer’s market’ as exists in Perth – a time when there are more properties available for sale than there is buyer demand – there may be no ‘best’ time of year to sell. It may even pay to rent the property out for a while until the market warms up.

Alternatively, if there’s not enough housing stock to meet demand and it’s a ‘seller’s market’ – as has been the case in Melbourne and Sydney – you’ll likely be able to negotiate harder and push up the price. Other influences such as new developments, changes to the first home buyer grant or stamp duty, and interest rate fluctuations can also affect supply and demand, so it’s worth talking to us about these factors.

Do your research and ask for advice

When it comes to selling your home, it’s best to take all of these factors into account, along with your personal circumstances. Your local real estate agent is a great source of information about when to sell, or you could ask us for a free market appraisal report. It’s always wise to do careful research when buying or selling a home, so please don’t hesitate to ask us for help. If you are looking to sell your home and purchase a new one, please speak to us about your finance options as we’re here to help you find the right loan for your financial circumstances and goals. We usually recommend that you try to sell before you buy if possible, so you know how much money you can budget for your next home purchase. However, if you do require bridging finance to tide you over, we can also help you with a competitive option. Please get in touch today – we’re always happy to help!What is the best time of the year to sell your home?

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